NIFTY:

It was a downtrend day in NIFTY. Prices first opened with minor gap down and then fell down towards its intraday low at 12017.40. After that prices spent the day trading choppy and sideways and closed lower with a loss of 95 points at 12056.05.

All the sectoral indices closed in red except REALTY. MEDIA and PSU BANKS have led the decline today. We were expecting a big range day today. That came but on downside. Prices hold its resistance around 12150-12160. On the downside, first support is visible around 12035- 12050. Prices have held this support today and closed near to it. Also a strong support is visible around 11950.

We are also expecting a process of consolidation in NIFTY. That scenario seems to developing now as prices have been trading inside 100 points of range from last four trading days. There will always be a chance for this range to be expanding as we have seen this before also.

VIEW:

Buy on a dip towards 12000 with a stop just below 11970.

TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
     PVR 1811.50 BUY The stock has given the breakout with volume  on the intraday as well as on the daily chart. The stock can be bought at CMP  with a stop loss of  1797 and for the target of  1832-1835.
     CUMMINSIND 542.25 SELL The immediate trend of the stock is weak . The stock can be sell with a stop loss of  548 and for  the target of  530.

 

DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
CONCOR 580 CE BUY 21.80 CMP 16.50 30 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
TORNTPOWER.Dec 26 281.5 0.66 12061.54 4743000 UPL.Dec 26 576.2 -0.41 11378.52 13946400
ACC.Dec 26 1526.2 0.76 9945 3214400 JSWSTEEL.Dec 26 262.2 -0.78 10419.91 48602000
CONCOR.Dec 26 580.25 5 9886.36 6867822 BAJAJ-AUTO.Dec 26 3191.7 -0.17 9902.27 2200500
GODREJCP.Dec 26 726.5 0.51 9316.98 3992800 AXISBANK.Dec 26 742.75 -1.1 9894.7 56610000
ADANIPORTS.Dec 26 384.25 3.1 8417.5 34070000 PIDILITIND.Dec 26 1309.75 -0.15 9183.82 3156500

 

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
CUMMINS INDIA LIMITED 542.25 -0.92 826998 1034920 70.23 NIFTY  Pvt Bank 17641.45 -0.32 4559834
Power Grid Corporation o 193.3 -1.45 9870291 2608402 68.96 Nifty Bank 31946.1 -0.55 13631918
NTPC Limited 116.35 0.69 7014266 6400601 63.91 INDIA VIX 13.9 -0.64 311300625
ITC Ltd. 246.4 -0.12 9807979 6917052 62.92 Nifty 50 12056.05 -0.78 36062117
HDFC BANK LTD. 1274.95 0.76 7783813 3861436 62.45 Nifty IT 14998.05 -0.82 769139
Colgate Palmolive (India 1474.2 -0.17 700482 248630 60.91 Nifty FMCG 30975.5 -0.92 443220
HDFC Ltd. 2297.25 -0.54 3027045 2223552 60.61 Nifty Pharma 8189.95 -1.01 52919143
Ambuja Cements Ltd 204.65 -0.15 2788327 1815626 59.68 Nifty Auto 8086 -1.15 53666142
CASTROL INDIA LTD. 140.75 -1.09 1814766 1104271 59.42 Nifty Metal 2625.5 -1.18 165236885
TATA CONSULTANCY SERV LT 2053.25 -1.16 2064271 1651510 56.47 Nifty Media 1834.9 -2.46 233539190

 

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
•INR:  Nikkei  Markit Manufacturing PMI on 2nd  December 2019

•INR:  Interest Rate Decision on 5th  December 2019

•USA: ISM  Manufacturing PMI (Nov) on 2nd December 2019

•USA: Crude Oil Inventories  on 4th  December 2019

 

NEWS UPDATES

•Reliance Jio has emerged as the highest bidder for mobile tower and optical fibre assets of Reliance Infratel by placing bids of around Rs 3,600 crore. Reliance Infratel’s tower and fibre is likely to go to Reliance Jio as its bid of Rs 3,600 crore is the highest and the company has committed to make the payment in 60 days. Bharti Airtel has placed a bid of Rs 1,800 crore for the same.

•The Reserve Bank of India (RBI) on Friday filed insolvency application against cash-strapped Dewan Housing Finance Corporation Ltd (DHFL) at Mumbai bench of the National Company Law Tribunal (NCLT). With this, DHFL has become the first financial service provider to face the bankruptcy court under the new bankruptcy rules.

•Yes Bank said it would raise nearly $2 billion in a share sale with a Canadian billionaire Erwin Singh Braich buying more than half of it or $1.2 billion. The rest will be bought by private equity investors, helping the bank overcome its financial difficulties. The plan is subject to regulatory approvals.

•India’s GDP growth at constant prices fell to a 26-quarter low of 4.5 pc, India’s nominal rate of GDP growth has slumped to 6.1 pc. At this rate, India’s target of $5 trillion GDP will take 4 years longer than 2023-24-the original 5-year deadline. In order for India to get to the $5 trillion mark, it needed to grow at 11-12% nominal rate for the next five-years.                                                                                                                                                                                    Source :Economics Times, Business Today

 

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ASINPET Increase in Authorised Capital 02-Dec-19 KHAITANLTD Quarterly Results 05-Dec-19
WEBELSOLAR Preferential Issue of shares 02-Dec-19 MANPASAND Audited Results 05-Dec-19
BCG Preferential Issue of shares 03-Dec-19 MAYUKH General 05-Dec-19
DIAMINESQ General 03-Dec-19 MIDEASTP General 05-Dec-19
GUFICBIO Quarterly Results 03-Dec-19 MUNOTHFI General 05-Dec-19
KOTHARIFIN General 03-Dec-19 ABANSENT Interim Dividend 06-Dec-19
NESTLEIND Interim Dividend 03-Dec-19 CENTRUM Quarterly Results 06-Dec-19
DHUNINV Quarterly Results 04-Dec-19 COSBOARD General 06-Dec-19
SALEM Quarterly Results 04-Dec-19 EKAMLEA Quarterly Results 06-Dec-19
VERTEX General;Quarterly Results 04-Dec-19 ROLTA Quarterly Results 06-Dec-19
CEEJAY Quarterly Results 05-Dec-19 UNITDCR Quarterly Results 06-Dec-19
INVENTURE Quarterly Results 05-Dec-19 CHEMTECH General 07-Dec-19
ASINPET Increase in Authorised Capital 02-Dec-19 KHAITANLTD Quarterly Results 05-Dec-19

 

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
REDINGTON 03-Dec-19 Interim Dividend – Rs. – 1.50 SAGRSOY-B 05-Dec-19 Reduction of Capital
MANUGRAPH 04-Dec-19 Dividend – Rs. – 0.50 THOMASCOOK 05-Dec-19 Spin Off
BRNL 05-Dec-19 Dividend – Rs. – 0.50 TRIDENT 13-Dec-19 Stock  Split From Rs.10/- to Rs.1/-
HCLTECH 05-Dec-19 Bonus issue 1:1 BOROSIL 18-Dec-19 Dividend – Rs. – 0.65
HEIDELBERG 05-Dec-19 Interim Dividend – Rs. – 1.50 BALMLAWRIE 26-Dec-19 Bonus issue 1:2

 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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