NIFTY:
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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