outlookNIFTY:

The Nifty opened at 11678.45 without any gap. The index first moved up almost 70 points and recorded its intraday high at 11748.95. Prices then saw a sharp decline of more than 200 points and recorded its intraday low at 11535.45. Prices have seen a recovery in the second half of more than 100 points and finally closed at 11642.40 down by 28.40 points.

The Realty sector outperformed and closed higher by 2.15% while Auto sector underperformed and closed lower by 1.13%.

Long term momentum has been falling and continues to suggests that we may be looking at a sideways or down trending market.

The overall market trend is now down. The first resistance if markets go up will be around 11740. We all have the results of the US Presidential elections coming in on Wednesday, 4th November. We could see a choppy and volatile market.

BANK NIFTY:

Bank Nifty opened at 24090.15 without much of a gap. The index first went up and made its intraday high at 24277.35. After that prices have seen a sharp decline and recorded its intraday low at 23612.70. The index then saw a minor rally and finally closed at 23900 with a loss of 190 points. Private banks have underperformed and closed lower by 0.90% while PSU Banks closed lower by 0.30%. Within the index, in terms of points, SBI contributed highest while ICICI Bank the lowest. Bank Nifty continued to trade volatile. Prices have seen a sharp decline of more than 600 points and then some recovery as well. A trading range of 24000-24800 has broken on the downside . Another close below this may confirm this breakdown.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
RELIANCE IND 2054.50 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 2030 and for the target 2110-2150.
ICICIBANK 392.60 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 387 and for the target 405.

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
APOLLOHOSP 2200 CE BUY 56.55 CMP 48 68 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
ADANIENT.Nov 26 340 3.34 9165.59 17234000 ICICIBANK.Nov 26 393.85 -1.32 7458.85 119732250
GRASIM.Nov 26 779.55 1.21 9070.75 18469900 ICICIPRULI.Nov 26 404.6 -0.83 6928.77 7696500
TORNTPHARM.Nov 26 2566.5 1.81 8648.98 1071750 BAJAJ-AUTO.Nov 26 2888.45 -1.11 6671.43 2133000
HDFCLIFE.Nov 26 590.6 0.93 7989.92 10589700 HDFC.Nov 26 1926.9 -0.44 6601.29 24848400
DIVISLAB.Nov 26 3141.8 1.07 7776.73 3182200 CIPLA.Nov 26 756.5 -0.58 6495.43 15004600
                                                                        Short Covering Long Unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Max Financial Services l 590.55 0.03 1027049 616340 61.82 Nifty Realty 228.2 2.15 2147483500
Power Grid Corporation o 171 -0.35 12884035 6123179 61.66 Nifty Energy 14977.8 1.74 3881303
Hindustan Unilever Ltd 2071.3 -2.39 2414328 1114543 57.62 Nifty Metal 2343.6 1.56 216299712
Icici Lombard General In 1236 -0.54 992164 100265 57.33 Nifty Media 1419.05 1.47 356766796
Tata Consumer Products l 492.85 0.17 4403239 2472548 56.63 Nifty it 20916.85 0.19 2120167
Colgate Palmolive (india 1516.7 -0.54 636579 413818 53.79 Nifty Pharma 11243.75 0.16 44919403
Hdfc Ltd. 1923.55 -0.56 4322115 1791837 51.73 Nifty 50 11642.4 -0.24 43327825
Britannia Ind Ltd. 3473.25 -1.68 475859 331181 50.62 Nifty Fmcg 29428.45 -0.79 772901
Petronet Lng Limited 230.95 0.22 3587240 1326853 46.19 Nifty Bank 23900.9 -0.79 21045573
United Spirits Limited 504.3 -0.11 828740 680980 45.93 Nifty Auto 7758.4 -1.13 64743227

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UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
•INR : Nikkei Markit Manufacturing PMI (Oct) on 2nd November, 2020

•INR:  Nikkei Services PMI (Oct)  on 4th November, 2020

•USD : ISM Manufacturing PMI (Oct) on 2nd November, 2020

•USD:  US Presidential Election on 3rd November, 2020

NEWS UPDATES

•Reliance Industries reported a 15.1 per cent year-on-year decline in its consolidated net profit to Rs 9,567 crore for the September-ended quarter. Consolidated net revenue also dipped 25.7 per cent year-on-year to Rs 1.11 trillion because of weak performance in the refining, petrochemicals, and retail businesses. The profit number beat street estimates while revenue was in line with expectations. The company’s telecom business (Reliance Jio Infocomm) reported a net profit of Rs 2,844 crore, a three-fold increase over Rs 990 crore a year ago. Net profit from retail business was Rs 973 crore, an increase of 125 per cent.

•Grasim Industries Ltd, a flagship company of Aditya Birla Group has signed an agreement with a global specialty chemical producer, Lubrizol Advanced Materials to manufacture and supply chlorinated polyvinyl chloride (CPVC) resin in India with initial production expected in late 2022. This collaboration with Lubrizol Advanced Materials is part of company long-term direction to bring in world class technologies to India and additionally complements growth strategy in Chlor-Alkali and Derivatives platform.

•Reliance Industries Ltd. is raising $1 billion in investment from two sovereign wealth funds as investors double down on the consumer businesses of Asia’s richest man, who’s diversifying his conglomerate away from oil refining. Abu Dhabi Investment Authority, or ADIA, and Saudi Arabia’s Public Investment Fund, or PIF, will each invest 37.8 billion rupees ($507.2 million) in buying units of Digital Fibre Infrastructure Trust.

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
BANDHANBNK Quarterly Results 02-Nov-20 TAJGVK Quarterly Results 02-Nov-20
CADILAHC Quarterly Results 02-Nov-20 TATAINVEST Quarterly Results 02-Nov-20
COROMANDEL Quarterly Results 02-Nov-20 TCIDEVELOP Quarterly Results 02-Nov-20
DWARKESH Quarterly Results 02-Nov-20 TCIEXP Quarterly Results 02-Nov-20
ESCORTS Quarterly Results 02-Nov-20 TRITURBINE Quarterly Results 02-Nov-20
FINEORG Quarterly Results 02-Nov-20 VINTRON General 02-Nov-20
HDFC Quarterly Results 02-Nov-20 VINYLINDIA Quarterly Results 02-Nov-20
KHAICHEM Interim Dividend;Quarterly Results 02-Nov-20 VIRPOLY Quarterly Results 02-Nov-20
NTPC Buy Back of Shares;Quarterly Results 02-Nov-20 VKAL A.G.M.;General 02-Nov-20
OFSS Quarterly Results 02-Nov-20 WHIRLPOOL Quarterly Results 02-Nov-20
ONMOBILE Quarterly Results 02-Nov-20 WOCKPHARMA Quarterly Results 02-Nov-20
PFIZER Quarterly Results 02-Nov-20 WONDERLA Quarterly Results 02-Nov-20
PNB Quarterly Results 02-Nov-20 ZEEL Quarterly Results 02-Nov-20
RAMCOCEM Quarterly Results 02-Nov-20 ZYDUSWELL Quarterly Results 02-Nov-20

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ANGELBRKG 02-Nov-20 Interim Dividend – Rs. – 4.1500 MANINDS 03-Nov-20 Interim Dividend – Rs. – 2.00
CRISIL 02-Nov-20 Interim Dividend – Rs. – 7.00 SAGCEM 03-Nov-20 Interim Dividend – Rs. – 2.00
ESTER 02-Nov-20 Interim Dividend – Rs. – 1.50 SEACOAST 03-Nov-20 Bonus issue 1:2
IVC 02-Nov-20 Final Dividend – Rs. – 0.60 WAAREE 03-Nov-20 Bonus issue 2:5
AARTIDRUGS 03-Nov-20 Interim Dividend – Rs. – 2.50 LT 04-Nov-20 Special Dividend – Rs. – 18.00
CROMPTON 03-Nov-20 Interim Dividend – Rs. – 3.00 RICOAUTO 04-Nov-20 Dividend – Rs. – 0.30
GUFICBIO 03-Nov-20 Final Dividend – Rs. – 0.0500 AMBUJACEM 05-Nov-20 Interim Dividend – Rs. – 17.00
IRBINVIT 03-Nov-20 Income Distribution (InvIT) CASTROLIND 05-Nov-20 Interim Dividend – Rs. – 2.50
KKCL 03-Nov-20 Interim Dividend – Rs. – 15.00 CONTPTR 05-Nov-20 Stock  Split From Rs.10/- to Rs.5/-

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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