NIFTY:
The Nifty opened at 12960.45 with a gap up of 48 points. Initially, prices went down almost 100 points to it intraday low at 12790.40. Prices began moving higher from that point in the second half and rallied more than 220 points to close at 12987 up by 128.60 points.
All the sectoral indices have participated in the rally led by Metals and Financials.
Yesterday’s trading was a test to daybefore’s low. The Nifty went below 12833. This was an attempt to see if there is more selling coming in the market. It appears that buyers stepped in and found the low prices as a bargain price. The Nifty bounced after testing the low of 12833. A handsome rally then started which took the index almost 200 points higher than its intraday lows.
We should look to buy the index by buying a call option of 13000 strike price. The stop loss for this trade will be if the index breaks 12800 and book our profits if the Nifty touches 13200.
The test of 12800 has been successful. This should be taken as a tradable idea. The trend is up and traders should look to buy on every dip.
BANK NIFTY:
Bank Nifty opened at 29370.40 with a gap up of 174 points. It was a tale of two halves where prices have moved down in the first half and recorded its intraday low at 28293.10 and then moved up in the second half by more than 500 points to finally close at 29549 with a gain of 407 points.
PSU Banks have outperformed and closed higher by 1.93% while Private Banks have closed higher by 0.97%. Within the index, in terms of points, HDFC Bank contributed highest while Indusind Bank the lowest.
The index is again trading near its resistance of its range and we may see a breakout here. A move above 29750 will give us a buying opportunity.
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TECHNICAL PICKS
| COMPANY | CMP | B/S | RATIONALE |
| BANKBARODA | 51.15 | BUY | The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 49 and for the target 54 |
| BHARAT FORGE | 513.20 | BUY | The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 500 and for the target 535. |
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DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| BIOCON | 420 CE | BUY | 24.85 | CMP | 21.50 | 29 | OI increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| SBILIFE.Nov 26 | 850.25 | 0.2 | 71.58 | 3432000 | TECHM.Nov 26 | 857.05 | -0.55 | 53.01 | 3751200 | |
| HDFC.Nov 26 | 2244.3 | 2.43 | 49.69 | 6267600 | IGL.Nov 26 | 446.2 | -1.1 | 32.65 | 1776500 | |
| M&M.Nov 26 | 734.1 | 2.14 | 47.65 | 5444600 | MARUTI.Nov 26 | 6976.55 | -1.15 | 16.97 | 395000 | |
| AXISBANK.Nov 26 | 612.25 | 1.98 | 46.57 | 11304000 | MRF.Nov 26 | 76000 | -0.5 | 14.06 | 12490 | |
| MARICO.Nov 26 | 375.35 | 1.49 | 44.98 | 2572000 | PETRONET.Nov 26 | 256.4 | 0 | 10.87 | 2907000 | |
| Short Covering | Long Unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| RAMCOCEM.Nov 26 | 861.65 | 0.68 | -75.74 | 97750 | RBLBANK.Nov 26 | 221.55 | -2.19 | -56.08 | 1804400 | |
| AMARAJABAT.Nov 26 | 885.6 | 1.23 | -68.68 | 114000 | INDIGO.Nov 26 | 1552 | -2.66 | -49.42 | 373500 | |
| CHOLAFIN.Nov 26 | 361.65 | 2.39 | -67.52 | 700000 | TORNTPOWER.Nov 26 | 306.9 | -0.76 | -42.19 | 777000 | |
| TATAPOWER.Nov 26 | 62.5 | 1.54 | -64.97 | 3253500 | ASHOKLEY.Nov 26 | 89.4 | -0.22 | -41.59 | 4905000 | |
| DLF.Nov 26 | 183.85 | 0.52 | -61.39 | 1425600 | BANDHANBNK.Nov 26 | 365.95 | -0.35 | -37.38 | 1728000 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Icici Lombard General In | 1457.05 | 5.37 | 2679932 | 530041 | 63.23 | Nifty Metal | 2925.05 | 3.85 | 76554 | |
| Hindustan Unilever Ltd | 2154.2 | 0.86 | 1630887 | 1031443 | 57.73 | Nifty Pharma | 11801.25 | 1.43 | 76554 | |
| Infosys Limited | 1113.2 | -0.22 | 10962256 | 5048132 | 56.35 | Nifty Bank | 29549.75 | 1.21 | 76554 | |
| Tata Consultancy Serv Lt | 2720.6 | 0.71 | 2341099 | 1804711 | 54.65 | Nifty 50 | 12987 | 1 | 76554 | |
| Kotak Mahindra Bank Limi | 1889.1 | 1.43 | 6864571 | 3662498 | 53.57 | Nifty Fmcg | 31701.3 | 0.83 | 76554 | |
| Power Grid Corporation o | 197.65 | 1.2 | 13994752 | 5566672 | 49.84 | Nifty Realty | 254.45 | 0.77 | 76554 | |
| Upl Limited | 420.55 | 0.47 | 3896795 | 2361059 | 49.67 | Nifty it | 21859.9 | 0.71 | 76554 | |
| Hdfc Ltd. | 2238.4 | 2.15 | 5026304 | 3048448 | 49.56 | Nifty Media | 1481.25 | 0.59 | 76554 | |
| Container Corp Of India | 407.4 | 1.94 | 2197699 | 912974 | 48.64 | Nifty Auto | 8767.75 | 0.34 | 76554 | |
| Tata Consumer Products l | 519.85 | 0.98 | 3566655 | 1345119 | 45.72 | Nifty Energy | 16346 | -0.26 | 76554 | |
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UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: FX Reserves, USD on 27th November, 2020
INR: GDP Growth Rate Q2 YoY on 27th November, 2020 |
•USD: OPEC Meeting on 30th November, 2020
•USD: Pending Home Sales (MoM) (Oct) on 30th November, 2020 |
NEWS UPDATES
| •Adani Gas Ltd, the city gas distribution firm of billionaire Gautam Adani’s group, will change its name to Adani Total Gas to reflect French energy giant Total’s stake in the firm.After the French giant buying stake, Adani Gas is now “a joint venture company of Adani Group and TOTAL Group, France with 37.40% stake by each promoter and remaining 25.20% with public shareholders,” it said.
•Apollo Tyres is planning to introduce its European tyre brand Vredestein in India early next year as it looks to cater to premium cars in the replacement market, according to a top company official. The home-grown tyre major had acquired the Netherlands based Vredestein Banden BV (VBBV) for an undisclosed sum in 2009 from Russia’s bankrupt largest tyre manufacturer Amtel-Vredestein NV. •Thermax Ltd. is seeing most of its businesses bounce back to year-ago levels and is now focused on options for growth. The Indian maker of electricity-generation and pollution-control equipment will consider mergers and acquisitions, technological arrangements and geographic partnerships that are “small and easy to digest,” Chief Executive Officer Ashish Bhandari said in an interview with Bloomberg. Source: Economic Times, Moneycontrol ,Business Today, Livemint, Business Standard, Bloomberg Quint |
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BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| ABCGAS | Quarterly Results | 27-Nov-20 | PODDAR | Quarterly Results;General | 27-Nov-20 |
| ADVIKLA | A.G.M.;General | 27-Nov-20 | SANTOSHF | Quarterly Results | 27-Nov-20 |
| ASIANVE | General | 27-Nov-20 | SHRENTI | A.G.M.;General | 27-Nov-20 |
| ASRL | General | 27-Nov-20 | SUNRAJDI | Quarterly Results | 27-Nov-20 |
| BIRLACAP | Quarterly Results | 27-Nov-20 | TRIL | Quarterly Results | 27-Nov-20 |
| DCW | Preferential Issue of shares | 27-Nov-20 | INDRANIB | General | 28-Nov-20 |
| GARFIBRES | Buy Back of Shares | 27-Nov-20 | JAIBALAJI | Quarterly Results;General | 28-Nov-20 |
| HTMEDIA | Quarterly Results | 27-Nov-20 | JMTAUTOLTD | Quarterly Results | 28-Nov-20 |
| NEXTMEDIA | Quarterly Results | 27-Nov-20 | JYOTIN | General | 28-Nov-20 |
| PANTH | General | 27-Nov-20 | KAPASHI | Preferential Issue of shares | 28-Nov-20 |
| PERVASIVE | Right Issue of Equity Shares;General | 27-Nov-20 | KIRANSY-B | General | 28-Nov-20 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| 63MOONS | 01-Dec-20 | Dividend – Rs. – 2.00 | DEEP | 03-Dec-20 | E.G.M. |
| BAJAJHCARE | 01-Dec-20 | Interim Dividend – Rs. – 1.2500 | GENCON | 03-Dec-20 | Final Dividend – Rs. – 0.0500 |
| BAJAJHCARE | 01-Dec-20 | Special Dividend – Rs. – 0.50 | GICHSGFIN | 03-Dec-20 | Final Dividend – Rs. – 2.00 |
| INDINFR | 01-Dec-20 | Income Distribution (InvIT) | GIPCL | 03-Dec-20 | Final Dividend – Rs. – 2.90 |
| JUMPNET | 01-Dec-20 | Dividend – Rs. – 0.20 | JBMA | 03-Dec-20 | Final Dividend – Rs. – 1.7500 |
| NATIONALUM | 01-Dec-20 | Interim Dividend – Rs. – 0.50 | KANCHI | 03-Dec-20 | Buy Back of Shares |
| SAKUMA | 01-Dec-20 | Final Dividend – Rs. – 0.10 | OAL | 03-Dec-20 | Interim Dividend – Rs. – 2.50 |
| SHISHIND | 01-Dec-20 | Bonus issue 6:5 | KSE | 07-Dec-20 | Final Dividend – Rs. – 20.00 |
| VLSFINANCE | 02-Dec-20 | Dividend – Rs. – 1.50 | MULTIIN | 08-Dec-20 | Final Dividend – Rs. – 0.20 |
DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014
Elite Wealth Advisors Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Advisors Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as read more
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