NIFTY:
The Nifty opened at 13215.20 with a gap up of 102 points. The Nifty made its intraday high near the opening tick. Prices have seen a mild decline throughout the day and recorded its intraday low at 13107.90 and filled the gap completely. In the second half, prices have traded very narrowly and choppy and finally closed at 13133.90 up by 20.15 points. The Metals, Media and Auto sectors have performed well and closed higher while IT and Financials Sectors closed with loss.
We had anticipated a trend day yesterday, although it was a trend day on the downside as prices have seen an intraday decline and closed near its intraday lows.
Prices have traded very narrowly suggesting a possibility of another trending day today. Since we do not want to go short in a bull market. Intraday traders can look to buy the index above the first 15 minutes high with a tight stop of just 50 points.
BANK NIFTY:
Bank Nifty opened at 29728.90 with a gap up of 297 points. Prices have first moved down and then saw a sharp surge. However the gains could not sustain long enough and prices have then seen a decline which lasted for the rest of the day.
Private banks have underperformed and closed lower by 0.49% while PSU Banks have seen a sharp move upside and closed higher by 4.81%. Within the index, in terms of points, SBI Contributed highest while HDFC Bank the lowest. It was a narrow and choppy day in the index with a mildly bearish bias as prices closed near its intraday lows..
The index has been trading very narrow, we may see an expansion phase on either side. We also have the RBI Monetary Policy Committee meeting scheduled.
Intraday traders can look to buy above 29900 or sell below 29100 once prices stabilize.
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TECHNICAL PICKS
| COMPANY | CMP | B/S | RATIONALE |
| DRREDDY | 4923.05 | BUY | The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 4880 and for the target 5000 |
| GLENMARK | 487.75 | BUY | The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 480 and for the target 500 |
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DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| DIVISLAB | 1440 CE | BUY | 68.10 | CMP | 55 | 85 | OI increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| TATACHEM.Dec 31 | 453.95 | 6.52 | 41.84 | 5824000 | ICICIGI.Dec 31 | 1487.75 | -2.42 | 29.1 | 937125 | |
| CONCOR.Dec 31 | 420.45 | 2.14 | 35.63 | 7699338 | SBILIFE.Dec 31 | 864.5 | -1.81 | 25.96 | 6760500 | |
| SUNTV.Dec 31 | 452.5 | 4.11 | 28.08 | 8956500 | BOSCHLTD.Dec 31 | 13065.1 | -1.78 | 21.8 | 314000 | |
| BPCL.Dec 31 | 395.9 | 2.58 | 27.16 | 25925400 | GODREJCP.Dec 31 | 716.1 | -0.72 | 21.35 | 4337000 | |
| HDFCLIFE.Dec 31 | 653 | 2.34 | 26.48 | 21011100 | INFY.Dec 31 | 1132.85 | -1.3 | 19.14 | 42930600 | |
| Short Covering | Long Unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| BRITANNIA.Dec 31 | 3661 | 1.36 | -3.07 | 1784200 | ESCORTS.Dec 31 | 1411.25 | -0.88 | -2.81 | 2620750 | |
| MINDTREE.Dec 31 | 1451.8 | 2.04 | -2.52 | 1424800 | GODREJPROP.Dec 31 | 1172.1 | -1.11 | -2.17 | 1262300 | |
| TATAMOTORS.Dec 31 | 185.6 | 0.62 | -2.27 | 63401100 | RAMCOCEM.Dec 31 | 885.95 | -0.04 | -0.86 | 1373600 | |
| ONGC.Dec 31 | 88.55 | 3.99 | -2.04 | 46854500 | CUMMINSIND.Dec 31 | 574 | -0.04 | -0.34 | 1425600 | |
| NESTLEIND.Dec 31 | 17594.85 | 1.38 | -1.12 | 312150 | ||||||
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Kotak Mahindra Bank Limi | 1821 | 0.37 | 4462528 | 4637812 | 62.19 | Nifty Media | 1581.9 | 2.8 | 85075 | |
| Hindustan Unilever Ltd | 2127.75 | -0.54 | 3469163 | 1011324 | 61.87 | Nifty Metal | 3126.1 | 2.49 | 85075 | |
| Bharti Infratel Limited | 239.55 | 6.56 | 41809808 | 79495901 | 61.32 | Nifty Auto | 9245.3 | 1.67 | 85075 | |
| Hdfc Ltd. | 2253.95 | -0.98 | 4528707 | 1844122 | 57.78 | Nifty Energy | 16941.25 | 1.44 | 85075 | |
| Power Grid Corporation o | 193.45 | -0.36 | 11986044 | 4748884 | 53.31 | Nifty Pharma | 12206.95 | 0.98 | 85075 | |
| Gmr Infrastructure Limit | 26.7 | 1.33 | 6671745 | 6927086 | 49.65 | Nifty Realty | 280.2 | 0.83 | 85075 | |
| Britannia Ind Ltd. | 3635.95 | 1.08 | 450558 | 325327 | 47.78 | Nifty Fmcg | 31908.65 | 0.28 | 85075 | |
| Icici Lombard General In | 1482.1 | -2.59 | 1202087 | 491442 | 47.46 | Nifty 50 | 13133.9 | 0.15 | 85075 | |
| Petronet Lng Limited | 256.05 | 1.47 | 5575081 | 1827543 | 46.67 | Nifty Bank | 29448.75 | -0.05 | 85075 | |
| Larsen & Toubro Limited | 1125.15 | 1.02 | 4087608 | 2055661 | 46.35 | Nifty it | 22202.2 | -0.52 | 85075 | |
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UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: Reverse Repo Rate on 3rd December, 2020
INR: RBI Interest Rate Decision on 4th December, 2020 |
•USD: Non-farm payrolls on 4th December ,2020
•USD: Unemployment Rate on 4th December,2020 |
NEWS UPDATES
| •Burger King India Ltd. continued to attract strong investor interest on the second day of its initial public offering. The issue was subscribed 4.86 times as of 12:20 p.m. on Dec. 3, led by retail investors, according to data from the exchanges. The portion reserved for high net worth individuals were also fully subscribed.
•The Reserve Bank of India has asked HDFC Bank Ltd. to put a temporary halt to all digital banking launches and sourcing of new credit card customers. This comes after the lender faced a series of technical glitches over the last two years. RBI has asked the bank to temporarily stop:All launches of digital business generating activities planned under its program Digital 2.0, Other proposed business generating IT applications, Sourcing of new credit card customers •The India Services Business Activity Index, compiled by IHS Markit, stood at 53.7 in November compared with 54.1 in October, according to a media statement. A reading above 50 indicates expansion in business activity. Manufacturing activity eased to a three-month-low after climbing to the highest in over a decade in October. As such, the Composite PMI Output Index was at 56.3 in November from 58 I. •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 |
| ALKA | A.G.M.;General | 04-Dec-20 | LKPFIN | Voluntary Delisting of Shares | 04-Dec-20 |
| AYOME | General | 04-Dec-20 | MACKINN | A.G.M.;General | 04-Dec-20 |
| BALGOPAL | A.G.M.;General | 04-Dec-20 | MIC | A.G.M.;General | 04-Dec-20 |
| BARTRONICS | A.G.M.;General | 04-Dec-20 | MINALIND | A.G.M.;General | 04-Dec-20 |
| BCG | Preferential Issue of shares | 04-Dec-20 | PASUFIN | A.G.M.;General | 04-Dec-20 |
| CANOPYFIN | A.G.M. | 04-Dec-20 | PBGLOBAL | A.G.M.;General | 04-Dec-20 |
| CIANAGRO | A.G.M.;General | 04-Dec-20 | RAJNISH | A.G.M.;General | 04-Dec-20 |
| GRCABLE | A.G.M.;General | 04-Dec-20 | SINDHUTRAD | Audited Results;A.G.M. | 04-Dec-20 |
| JAIMATAG | General | 04-Dec-20 | SMARTFIN | A.G.M. | 04-Dec-20 |
| KAARYAFSL | A.G.M.;General | 04-Dec-20 | SMARTLINK | Buy Back of Shares | 04-Dec-20 |
| KENNAMET | Scheme of Arrangement;General | 04-Dec-20 | STRGRENWO | A.G.M.;General | 04-Dec-20 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| KSE | 07-Dec-20 | Final Dividend – Rs. – 20.0000 | MANAS | 11-Dec-20 | E.G.M. |
| MULTIIN | 08-Dec-20 | Final Dividend – Rs. – 0.2000 | ZSWASTSA | 11-Dec-20 | Dividend – Rs. – 1.0000 |
| RVNL | 08-Dec-20 | Dividend – Rs. – 1.1400 | RESPONIND | 16-Dec-20 | Final Dividend – Rs. – 0.0700 |
| HATSUN | 09-Dec-20 | Bonus issue 1:3 | SHRISTI | 16-Dec-20 | Dividend – Rs. – 0.2500 |
| ICSL | 09-Dec-20 | E.G.M. | TRESCON | 16-Dec-20 | Dividend – Rs. – 0.0500 |
| GARFIBRES | 10-Dec-20 | Buy Back of Shares | EASTWEST | 17-Dec-20 | Dividend – Rs. – 0.0500 |
| LEX | 10-Dec-20 | E.G.M. | JAICORPLTD | 18-Dec-20 | Dividend – Rs. – 0.5000 |
| RUSHIL | 10-Dec-20 | Final Dividend – Rs. – 0.5000 | VRL | 18-Dec-20 | Dividend – Rs. – 1.5000 |
| SBTL | 10-Dec-20 | Reduction of Capital | ANANTRAJ | 22-Dec-20 | Dividend – Rs. – 0.0800 |
| SHAHLON | 10-Dec-20 | Dividend – Rs. – 0.2500 | BAMBINO | 22-Dec-20 | Dividend – Rs. – 1.6000 |
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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