NIFTY:
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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