outlookNIFTY:

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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