NIFTY:
The Nifty opened at 13121.40 with a gap up of just 12 points which is negligible. The index moved sideways and narrow in the first half with a mildly bearish basis as prices never went above the first 15 minutes high. However, the second half was very volatile. First prices went down almost 100 points and then recovered all those losses and reached near its intraday highs. The index finally closed at 13113.75 almost flat.
The Metal, Realty, and Auto sectors have performed well and closed higher while Banks and Financials closed with a loss.
We had a trend day on Tuesday and a fairly choppy day yesterday. It is quite possible that today may be a trending day again. Since we do not want to go short in this market, we will take a trade on the longside or no trade at all.
We should look to buy an in the money call option above the first 15 minutes high. This will be an intraday trade as we will take an option expiring today, the weekly expiry.
Given the fact that we are almost at new highs, with trend indicators suggesting continued strength, we should expect a trend today on the long side, as well as continue to buy on dips.
BANK NIFTY:
Bank Nifty opened at 29876.70 with a gap up of 90 points. Prices have started a down move from its open, The index first filled the gap up and then fell further to record its intraday low at 29149.90. Prices have seen a mild recovery in the last hour of trading and finally closed at 29463. Private Banks have underperformed and closed lower by 1.17% while PSU Banks also closed lower by 0.44%. Within the index in terms of points, Axis Bank contributed highest while HDFC Bank the lowest.
It was a trend day on the downside. Prices are trading around 30000 levels. Prices are finding it difficult to cross this level. We may get a buying opportunity above 30000 or on a sharp dip.
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TECHNICAL PICKS
| COMPANY | CMP | B/S | RATIONALE |
| COALINDIA | 129.75 | BUY | The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 127.30 and for the target 135 |
| AXIS BANK | 611.80 | BUY | The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 605 and for the target 629. |
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DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| DIVISLAB | 3650 CE | BUY | 152 | CMP | 120 | 190 | OI increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| INFRATEL.Dec 31 | 226.5 | 5.15 | 56.12 | 16676800 | HDFCLIFE.Dec 31 | 638.5 | -1.17 | 24.7 | 17031300 | |
| TATACHEM.Dec 31 | 427 | 5.11 | 26.09 | 4610000 | CANBK.Dec 31 | 105.9 | -4.16 | 19.53 | 27170000 | |
| NATIONALUM.Dec 31 | 41.85 | 4.89 | 21.34 | 41956000 | SUNTV.Dec 31 | 435.95 | -2.55 | 18.94 | 7101000 | |
| GAIL.Dec 31 | 115.25 | 3.92 | 19.93 | 30506100 | AMARAJABAT.Dec 31 | 906 | -0.44 | 13.25 | 1444000 | |
| BATAINDIA.Dec 31 | 1553.05 | 0.19 | 11.84 | 1111550 | MGL.Dec 31 | 1046.1 | -1.53 | 10.2 | 1303200 | |
| Short Covering | Long Unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| CUMMINSIND.Dec 31 | 574.95 | 0.11 | -2.84 | 1437600 | PNB.Dec 31 | 34.15 | -1.44 | -4.76 | 63826000 | |
| MUTHOOTFIN.Dec 31 | 1161 | 0.74 | -2.43 | 5835000 | INDUSINDBK.Dec 31 | 899 | -0.22 | -3.29 | 17213600 | |
| SRF.Dec 31 | 5252 | 2.52 | -1.42 | 433625 | KOTAKBANK.Dec 31 | 1813.45 | -2.77 | -2.79 | 25480400 | |
| TATACONSUM.Dec 31 | 541.5 | 1.76 | -1.33 | 13810500 | BOSCHLTD.Dec 31 | 13240.05 | -0.52 | -2.7 | 266450 | |
| PIDILITIND.Dec 31 | 1604.1 | 3.04 | -1.33 | 3079000 | AMBUJACEM.Dec 31 | 262.6 | -0.11 | -1.8 | 15072000 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Icici Prudential Life In | 467.6 | 2.24 | 6009102 | 1468320 | 61.99 | Nifty Realty | 277.9 | 2.96 | 82077 | |
| Hindustan Unilever Ltd | 2139.3 | 0.29 | 1634682 | 1363585 | 61.24 | Nifty Metal | 3050.2 | 2.56 | 82077 | |
| Godrej Cons Products Ltd | 717.9 | 1.74 | 1642706 | 802719 | 60.42 | Nifty Auto | 9093.7 | 1.19 | 82077 | |
| Hdfc Ltd. | 2276.35 | -1.33 | 3191550 | 4245815 | 60.38 | Nifty it | 22319 | 0.67 | 82077 | |
| Icici Lombard General In | 1521.55 | 3.43 | 1035487 | 663274 | 60.16 | Nifty Media | 1538.8 | 0.52 | 82077 | |
| Hdfc Bank Ltd. | 1406.95 | -1.84 | 8946075 | 4902182 | 57.18 | Nifty Pharma | 12088.6 | 0.36 | 82077 | |
| Colgate Palmolive (india | 1519.9 | 1.06 | 511249 | 539480 | 54.15 | Nifty Fmcg | 31820.25 | 0.36 | 82077 | |
| Power Grid Corporation o | 194.15 | 0.94 | 8908164 | 5455106 | 53.3 | Nifty 50 | 13113.75 | 0.04 | 82077 | |
| Upl Limited | 441.95 | 2.06 | 14187495 | 7872052 | 52.73 | Nifty Bank | 29463.15 | -1.19 | 82077 | |
| Tata Consultancy Serv Lt | 2749.55 | 0.83 | 2509032 | 1876311 | 52.05 | India Vix | 19.91 | -1.34 | 82077 | |
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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:ISM Non-Manufacturing Purchasing Managers Index (PMI) on 3rd December
•USD: Initial Jobless Claims on 3rd December |
NEWS UPDATES
| •The U.K. became the First western country to approve a Covid-19 vaccine, with its regulator clearing Pfizer Inc. and BioNTech SE’s shot ahead of decisions in the U.S. and European came the first Union. The shot will be available in Britain from next week.Health Secretary Matt Hancock said in a radio interview, with 50 hospitals preparing to administer the vaccine and 800,000 doses ready to be delivered from Belgium.
•Burger King India IPO Fully Subscribed On Day 1 Of Share Sale. •Maruti Suzuki India Ltd., the local unit of Japan’s Suzuki Motor Corp., is expecting retail sales in December to be “pretty good” as there are pending orders with its dealerships. •Larsen & Toubro International, a wholly owned subsidiary of the Mumbai-based infrastructure and engineering group, signed a pact with Rolls-Royce to divest Servowatch Systems, according to an exchange filing. The subsidiary provided integrated marine automation solutions for navies, commercial vessels and large yachts. The divestment of Servowatch Systems is as per stated goal of unlocking value within the existing business portfolio by divesting non-core units 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 |
| GRADIENTE | Preferential Issue of shares | 03-Dec-20 | WINTAC | General | 03-Dec-20 |
| INFRONICS | Reduction of Capital;General | 03-Dec-20 | ZEELEARN | Quarterly Results | 03-Dec-20 |
| JIGAR | General | 03-Dec-20 | ALKA | A.G.M.;General | 04-Dec-20 |
| KBSINDIA | Audited Results;A.G.M. | 03-Dec-20 | AYOME | General | 04-Dec-20 |
| NIVAKA | A.G.M.;General | 03-Dec-20 | BALGOPAL | A.G.M.;General | 04-Dec-20 |
| ODYCORP | A.G.M.;General | 03-Dec-20 | CANOPYFIN | A.G.M. | 04-Dec-20 |
| SAYAJIHOTL | Quarterly Results | 03-Dec-20 | GRCABLE | A.G.M.;General | 04-Dec-20 |
| SKYIND | Issue Of Warrants; Pref. shares issue | 03-Dec-20 | JAIMATAG | General | 04-Dec-20 |
| TOYAMIND | General | 03-Dec-20 | KAARYAFSL | A.G.M.;General | 04-Dec-20 |
| UJAAS | A.G.M.;Quarterly Results | 03-Dec-20 | KENNAMET | Scheme of Arrangement;General | 04-Dec-20 |
| VEDAVAAG | A.G.M. | 03-Dec-20 | MACKINN | A.G.M.;General | 04-Dec-20 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| 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. – 2.0000 | ICSL | 09-Dec-20 | E.G.M. |
| GIPCL | 03-Dec-20 | Final Dividend – Rs. – 2.9000 | 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. – 0.5000 |
| OAL | 03-Dec-20 | Interim Dividend – Rs. – 2.5000 | SHAHLON | 10-Dec-20 | Dividend – Rs. – 0.2500 |
| KSE | 07-Dec-20 | Final Dividend – Rs. – 20.0000 | WIPRO | 10-Dec-20 | Buy Back of Shares |
| MULTIIN | 08-Dec-20 | Final Dividend – Rs. – 0.2000 | MANAS | 11-Dec-20 | E.G.M. |
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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