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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