outlookNIFTY:

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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