outlookNIFTY:

The Nifty opened with a very minor gap, and then moved sideways for the first half an hour. Apparently, this was just a preparatory consolidation before a significant up move. The Nifty then went above the high of the first 15 minutes. This was a signal that perhaps we are going to see a trend day. The index then continued to move higher and crosses 13050 very easily. Throughout the day the trend was clearly up. The index closed above 13100, this was as good as it gets.

A trade was taken on Friday; this trade was based on a successful test of  12800 low. We had recommended buying the 13000 call option for 120. Our call option is now prices at 153. The target for the index is 13300, although we can take a stop of Rs 100 for the option.

The Nifty has closed at a lifetime highest close. Momentum indicators suggests strength is continuing. We should be looking to buy at every opportunity.

BANK NIFTY:

Bank Nifty opened at 29844.80 with a gap. Prices have traded very choppy in the first hour. Index moved upside after one hour of trading and closed at 29817.

PSU Banks and Private Banks outperformed and closed higher. Within the index, in terms of points, Bank of Baroda contributed highest while Axis Bank the lowest. It was a trading day in the index where prices have traded upside intraday.

A trading range of 27900 to 29700 has broken on the upside. We had also suggested to buy the index above 29750. Assuming we are long, hold the position with a stop at 29300 and for the target of 30800.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
BAJAJ AUTO 3243.65 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at  3210 and for the target 3285.
WIPRO 352.85 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 344 and for the target 365.

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
LUPIN 900 CE BUY 52 CMP 45 62 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
CANBK.Dec 31 110.35 5.75 28.56 23005000 RAMCOCEM.Dec 31 892 -0.08 21.39 1572500
MOTHERSUMI.Dec 31 156.3 5.75 22.03 24234000 HEROMOTOCO.Dec 31 3074.95 -1.08 9.11 3674100
ICICIGI.Dec 31 1480.1 1.78 20.67 838525 TATACONSUM.Dec 31 532.6 -1.2 8.51 14951250
SAIL.Dec 31 50.35 3.28 19.48 66785000 SRTRANSFIN.Dec 31 1024.8 -2.67 7.46 4939802
UPL.Dec 31 436.6 3.85 18.63 28394600 IGL.Dec 31 485.9 -1.97 7.44 5959250
                                                                        Short Covering Long Unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
LICHSGFIN.Dec 31 338.7 2.2 -6.81 17146000 CHOLAFIN.Dec 31 373.35 -2.74 -6.79 4842500
DABUR.Dec 31 507.5 0.93 -3.12 14803750 MFSL.Dec 31 643 -1.41 -0.74 4703400
CIPLA.Dec 31 758.7 1.46 -3.09 16452800 BAJAJFINSV.Dec 31 8769.95 -0.38 -0.55 866125
IOC.Dec 31 86.2 1.47 -2.76 48216300 TATAMOTORS.Dec 31 180.7 -0.3 -0.32 68240400
INFY.Dec 31 1140 2.93 -2.35 36075000

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Colgate Palmolive (india 1504 -0.64 996320 4749145 86.42 Nifty Realty 269.9 3.33 80925
Nestleind 17418.15 -2.63 235086 929598 83.99 Nifty it 22170.9 1.87 80925
Larsen & Toubro Limited 1115.95 -0.57 3551604 15569906 81.97 Nifty Media 1530.9 1.85 80925
Tata Consumer Products l 529.3 -1.62 5105352 15098885 80.09 Nifty Pharma 12045.15 1.74 80925
Container Corp Of India 409.65 0.89 3164488 4543856 79.92 Nifty Metal 2974.05 1.65 80925
Asian Paints Limited 2230.05 0.67 2235498 7938427 79.1 Nifty Energy 16475.35 1.38 80925
Britannia Ind Ltd. 3629.35 -0.24 1042234 4253015 79 Nifty 50 13109.05 1.08 80925
Tech Mahindra Limited 907.3 3.47 5821698 12989201 78.8 Nifty Auto 8987.15 1.07 80925
Ntpc Limited 93.75 -1 35330973 1.71E+08 78.78 Nifty Bank 29817.85 0.71 80925
Acc Limited 1747.9 2.51 3242401 6122030 77.24 Nifty Fmcg 31705.25 -0.04 80925

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UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: Nikkei Services PMI (Nov) on 3rd December, 2020

INR: RBI Interest Rate Decision on 4th December, 2020

•USD:  Crude Oil Inventories on 2nd December, 2020

•USD: ADP Nonfarm Employment Change (Nov) on 2nd December, 2020

NEWS UPDATES

•Indian stock market benchmarks Sensex and Nifty finished at record closing highs on Tuesday after data showed a smaller-than-expected contraction in Asia’s third-largest economy in September quarter. Hopes for a COVID-19 vaccine also boosted the sentiment in Indian markets that had climbed 11% in November.

•Goods and service tax (GST) collections for November stood at Rs 1.04 lakh crore, marginally lower than Rs 1.05 lakh crore collected in October this year, but higher than Rs 1.03 lakh crore collected in the same month last year. The numbers showed the second consecutive month of collections clocking up more than Rs 1 lakh crore, indicating continued economic recovery, said experts.

•TVS Motor Company sales grew by 21% registering 322,709 units in November 2020 as against 266,582 units in the month of November 2019. Total two-wheelers sales grew by 25% recording 311,519 units in November 2020 as against 249,350 units in November 2019.

•Drug maker Divi’s Laboratories on Tuesday said it has earmarked Rs 1,500 crore to set up a new manufacturing facility in Andhra Pradesh. The work on the manufacturing plant would commence from December 7, Divi’s Laboratories said in a regulatory filing. The Unit-III facility will come up in the East Godavari District, Andhra Pradesh, it added.

•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
ADITRI General 02-Dec-20 MHEL Half Yearly Results 02-Dec-20
ADORWELD Quarterly Results 02-Dec-20 PRIMEFRESH General 02-Dec-20
ALICON In. in Auth. Capital;Preferential Issue 02-Dec-20 TANVI A.G.M.;General 02-Dec-20
AMFL A.G.M. 02-Dec-20 VAMA A.G.M.;General 02-Dec-20
BMAL Half Yearly Results 02-Dec-20 JIGAR General 03-Dec-20
DOLPHMED A.G.M.;General 02-Dec-20 KBSINDIA A.G.M.;Audited Results 03-Dec-20
DRHABEEB A.G.M. 02-Dec-20 MIDESTI-B A.G.M.;Audited Results 03-Dec-20
ENCASH A.G.M.;General 02-Dec-20 SAYAJIHOTL Quarterly Results 03-Dec-20
HIKLASS A.G.M. 02-Dec-20 TOYAMIND General 03-Dec-20
ICLORGANIC Half Yearly Results;General 02-Dec-20 VEDAVAAG A.G.M. 03-Dec-20
MESCON Audited Results 02-Dec-20 ZEELEARN Quarterly Results 03-Dec-20

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
VLSFINANCE 02-Dec-20 Dividend – Rs. – 1.50 MULTIIN 08-Dec-20 Final Dividend – Rs. – 0.20
DEEP 03-Dec-20 E.G.M. RVNL 08-Dec-20 Dividend – Rs. – 1.1400
GENCON 03-Dec-20 Final Dividend – Rs. – 0.0500 HATSUN 09-Dec-20 Bonus issue 1:3
GICHSGFIN 03-Dec-20 Final Dividend – Rs. – 2.00 ICSL 09-Dec-20 E.G.M.
GIPCL 03-Dec-20 Final Dividend – Rs. – 2.90 GARFIBRES 10-Dec-20 Buy Back of Shares
JBMA 03-Dec-20 Final Dividend – Rs. – 1.7500 LEX 10-Dec-20 E.G.M.
KANCHI 03-Dec-20 Buy Back of Shares RUSHIL 10-Dec-20 Final Dividend – Rs. – 0.50
OAL 03-Dec-20 Interim Dividend – Rs. – 2.50 SHAHLON 10-Dec-20 Dividend – Rs. – 0.2500
KSE 07-Dec-20 Final Dividend – Rs. – 20.00 WIPRO 10-Dec-20 Buy Back of Shares

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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