outlookNIFTY:

The Nifty opened at 11734.45 with a gap up of 65 points. It was a trend day on the upside in the index where open was near the low and close was near the high. Prices have moved higher for the whole day. However, prices have traded sideways in the second half of the day but managed to close near the intraday high. The Nifty finally settled at 11813.50 up by 144.35 points. All the sectoral indices have closed higher except Media and Realty whereas Banks have Financials have led the rally.

The Nifty continued to rally after have notched up minor gains daybefore. The rally was accompanied by as a risk on environment all over the world, from the Asian markets to Europe to pre-market US futures. All markets are gaining. We must also remember the US elections were yesterday, we can expect results or atleast partial results to start coming in from today morning.

We have now observed a trading range being built up in the smaller time frame charts. A trading range breakout is now available to us. Buy above 11830 or sell below 11750.

BANK NIFTY:

Bank Nifty opened at 25108 with a gap up of 263 points. The index made its intraday low at 25085.70 and then saw  a sharp upside move throughout the day. The index closed at 25682 with a gain of 830 points.

Private and PSU Banks both have performed well and closed higher by 3.08% and 1.74% respectively. Within the index, in terms of points, ICICI Bank contributed highest while PNB the lowest. It was a second consecutive day on the upside where prices opened near its intraday lows and closed near its highs.

Private banks have continued its performance. These are ideal stocks for investing and positional traders.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
SUNPHARMA 485.60 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP  with a stop at 478 and for the target 500-520.
MINDTREE 1317.80 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 1303 and for the target 1360.

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
APOLLOHOSP 2100 CE BUY 91.95 CMP 78 125 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
ICICIGI.Nov 26 1230.4 0.02 22.89 130050 NTPC.Nov 26 85.45 -4.31 29.46 71136000
CADILAHC.Nov 26 436.9 6.2 19.72 7238000 MUTHOOTFIN.Nov 26 1186 -4.52 23.21 3531000
POWERGRID.Nov 26 178.65 3.3 17.18 16452000 GODREJPROP.Nov 26 1027.9 -8.79 21.22 1236300
MRF.Nov 26 67573.8 2.25 14.63 27350 PETRONET.Nov 26 221.5 -1.93 15.98 7905000
DABUR.Nov 26 518 2.2 13.92 14762500 UPL.Nov 26 417.7 -6.27 11.86 18606900
                                                                        Short Covering Long Unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
CUMMINSIND.Nov 26 447 1.89 -6.34 1294800 DLF.Nov 26 163.15 -1.27 -0.61 26419800
TORNTPOWER.Nov 26 312.7 1.66 -5.18 1923000 MINDTREE.Nov 26 1317.05 -0.21 -0.44 1271200
EXIDEIND.Nov 26 160.2 0.47 -4.66 10090800 NAUKRI.Nov 26 3554.15 -0.16 -0.07 750000
FEDERALBNK.Nov 26 53.25 2.6 -4.38 83886500
BPCL.Nov 26 349.75 0.43 -2.85 19825200

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Icici Lombard General In 1226.15 0.09 445423 411259 75.29 Nifty Bank 25682.8 3.17 82140
Britannia Ind Ltd. 3403.65 -0.49 623300 436815 57.15 Nifty Metal 2391.2 2.24 82140
Page Industries Limited 19682.7 0.1 34766 35868 54.23 Nifty Pharma 11361 1.66 82140
Hindustan Unilever Ltd 2055.7 -0.79 2227402 793369 53.39 Nifty Auto 7848.85 1.51 82140
United Spirits Limited 509.7 1.14 3279029 705388 52.25 Nifty 50 11813.5 1.24 82140
Icici Prudential Life In 409.7 1.56 3725793 749064 50.26 Nifty Fmcg 29526.35 0.29 82140
Infosys Limited 1062.55 -0.91 7204782 3553906 49.48 Nifty it 20736 0.02 82140
Sbi Life Insurance Compa 788.9 2.98 1542962 430008 48.21 Nifty Media 1413.25 -0.33 82140
Petronet Lng Limited 224.85 -0.79 4169031 1660711 47.82 Nifty Energy 14528.45 -0.53 82140
Itc Ltd. 170.1 2.01 22602903 6750832 46.98 Nifty Realty 229.95 -2.32 82140

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UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR:  Nikkei Services PMI (Oct)  on 4th November, 2020

INR:  Deposit Growth on 6th November, 202

•USD :  ISM Non-Manufacturing PMI (Oct) on 4th November, 2020

•USD:  ADP Nonfarm Employment Change (Oct)on 4th November, 2020

NEWS UPDATES

•Sun Pharmaceutical Industries Ltd.’s quarterly profit rose on the back of lower operating expenses and higher other income. Net profit rose 70% year-on-year to Rs 1,813 crore in the three months ended September. That compares with the Rs 1,124-crore consensus estimate of analysts tracked by Bloomberg. Revenue rose 5% over a year earlier to Rs 8,553 crore, compared with the estimated Rs 8,302 crore. That’s also a 13% rise over the April-June quarter.

•Dabur India Q2 Results Yoy Net profit increased 20% to Rs 482.86 crore Consolidated revenue rose 14% to Rs 2,516.04 crore Ebitda rose 16% to Rs 569.43 crore Margin stood at 22.6% against 22.1% a year ago During the quarter, the ayurveda products maker witnessed a 70.8% growth in health supplements, led by a twofold jump in Chyawanprash sales. Its honey sales, too, rose in double digits, the company said in an investor presentation.

•Muthoot Finance on Tuesday reported a 2.5% increase in consolidated net profit at ₹930.80 crore for the second quarter ended September of the current fiscal year.Total income grew 17.4% to ₹2,824.19 crore during July-September period of 2020-21 from ₹2,406.39 crore in the same period of 2019-20.

•Kishore Biyani led-Future Group has filed a caveat before the Delhi High Court requesting it to be heard if any plea is filed by e-commerce major Amazon over its Rs 24,713 crore deal with Mukesh Ambani-led RIL.

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
ADANIENT Quarterly Results 04-Nov-20 HINDPETRO Buy Back of Shares; Results 04-Nov-20
ADANIGREEN Quarterly Results 04-Nov-20 INDHOTEL Quarterly Results 04-Nov-20
APOLLOTYRE Quarterly Results 04-Nov-20 INDINFRA Quarterly Results 04-Nov-20
BALRAMCHIN Quarterly Results 04-Nov-20 JKLAKSHMI Quarterly Results 04-Nov-20
BASF Quarterly Results 04-Nov-20 JUBILANT General;Quarterly Results 04-Nov-20
DATAMATICS Quarterly Results 04-Nov-20 JYOTHYLAB Quarterly Results 04-Nov-20
GALLANTT General;Quarterly Results 04-Nov-20 KALPATPOWR* General;Quarterly Results 04-Nov-20
GALLISPAT Quarterly Results 04-Nov-20 KEC Quarterly Results 04-Nov-20
GATI Quarterly Results 04-Nov-20 LUPIN General;Quarterly Results 04-Nov-20
GODREJAGRO Quarterly Results 04-Nov-20 NELCO Quarterly Results 04-Nov-20
GOKULAGRO Quarterly Results 04-Nov-20 PIDILITIND Quarterly Results 04-Nov-20
GREENPLY Quarterly Results 04-Nov-20 SBIN Quarterly Results 04-Nov-20
HAPPSTMNDS Quarterly Results 04-Nov-20 SRF Quarterly Results 04-Nov-20
HIKAL Quarterly Results 04-Nov-20 THERMAX Quarterly Results 04-Nov-20

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
LT 04-Nov-20 Special Dividend – Rs. – 18.00 SUPPETRO 05-Nov-20 Interim Dividend – Rs. – 2.50
RICOAUTO 04-Nov-20 Dividend – Rs. – 0.30 SUPREMEIND 05-Nov-20 Interim Dividend – Rs. – 5.00
AMBUJACEM 05-Nov-20 Interim Dividend – Rs. – 17.00 VAIBHAVGBL 05-Nov-20 Interim Dividend – Rs. – 5.00
CASTROLIND 05-Nov-20 Interim Dividend – Rs. – 2.50 COSMOFILMS 06-Nov-20 Buy Back of Shares
CONTPTR 05-Nov-20 Stock  Split From Rs.10/- to Rs.5/- DAAWAT 06-Nov-20 Interim Dividend – Rs. – 0.50
ISEC 05-Nov-20 Interim Dividend – Rs. – 8.00 SURYAROSNI 06-Nov-20 Interim Dividend – Rs. – 1.50
KOPRAN 05-Nov-20 Interim Dividend – Rs. – 1.50 ASIANTILES 09-Nov-20 Dividend – Rs. – 0.70
MARICO 05-Nov-20 Interim Dividend – Rs. – 3.00 EMBASSY 09-Nov-20 Income Distribution RITES
SRD 05-Nov-20 Bonus issue 1:3 INDIGRID 09-Nov-20 Income Distribution (InvIT)

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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