outlook-2019-11-06

 

NIFTY:

As the NIFTY move towards 12000, it is now facing resistance due to 2 different technical reasons:

ONE: There is significant resistance around 12000 areas.

TWO: The pervious week high of 11945 continue to act as minor resistance.

Including today, the NIFTY has been locked inside a narrow trading range for the last four days. Support comes in 11843 and resistance at 11950. a narrow range of 100 points is unlikely to hold on for long. A breakout or a breakdown from this range will gives us a trading opportunity.

Below 11843 the NIFTY opens up a larger decline towards 11700. Above 11950, we start looking at an effort to cross 12000 and then to make lifetime new highs above 11200.

VIEW:

Buy on a dip towards 11850 with  a stop just below 11820.

Buy on a breakout above 11950 with a stop just below 11900.

 

TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
     ASIANPAINT 1793.85 BUY The stock has given the breakout with volume  on the intraday as well as on the daily chart. The stock can be bought at CMP with a stop loss of  1775 and for the target of  1817.
    HEXAWARE 340 SELL The immediate trend of the stock is week . The stock can be sell with a stop loss of   346 and for  the target of  330.

 

DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
UPL 610 CE BUY 26.90 CMP 21 35 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
BHARATFORG.Nov 28 463 0.63 18.04 7286400 BEL.Nov 28 111.5 -7.01 22.45 28764000
PVR.Nov 28 1774 1.64 16.42 1472000 BALKRISIND.Nov 28 850 -1.73 17.45 1636800
BERGEPAINT.Nov 28 490.95 2.73 14.75 7651600 CANBK.Nov 28 207.15 -0.6 17.25 12292000
DABUR.Nov 28 483.05 4.86 13.72 12287500 COALINDIA.Nov 28 212.05 -1.42 16.17 25744400
BAJFINANCE.Nov 28 4272.1 3.42 13.58 8018000 NCC.Nov 28 57.5 -1.12 16.02 42296000
                                                                        Short Covering                                                                            Long unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
SRF.Nov 28 2964.55 1.13 -6.25 907750 GMRINFRA.Nov 28 20.75 -1.19 -2.38 1.16E+08
EQUITAS.Nov 28 98.9 0.46 -1.85 10588000 BATAINDIA.Nov 28 1712.25 -0.74 -1.91 2542650
AMARAJABAT.Nov 28 659.25 0.03 -1.11 1369900 IDEA.Nov 28 4.2 -7.69 -1.89 5.21E+08
EXIDEIND.Nov 28 187.3 0.21 -0.54 11596800 TORNTPHARM.Nov 28 1799 -0.94 -1.34 332500
CADILAHC.Nov 28 240 -1.09 -0.72 8777600

 

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
United Breweries Limited 1217.85 -1.28 754430 1120840 78.58 Nifty FMCG 32361.45 0.33 84498
Power Grid Corporation o 195.4 0.33 4586524 6586166 77.15 INDIA VIX 15.92 0 84495
Hindustan Unilever Ltd 2172.15 0.65 2167085 1090967 71.6 Nifty 50 11917.2 -0.2 84495
Shree Cements Ltd. 19829.3 -1.38 17968 21590 67.53 Nifty Auto 8256.15 -0.29 84498
Petronet LNG Limited 284.95 -0.09 2960869 1448315 63.49 Nifty IT 15533.45 -0.37 84498
CHOLAMANDALAM 316.6 0.19 1976356 2632762 61.49 Nifty Bank 30219.85 -0.37 84498
HCL Technologies Ltd. 1158.7 0.24 1439050 908501 60.12 NIFTY  Pvt Bank 16584.2 -0.75 84498
Pidilite Industries Ltd 1388.8 -0.76 425650 275709 59.68 Nifty Metal 2616.95 -0.95 84498
Divi s Laboratories Limi 1687.45 -2.75 587695 307034 59.6 Nifty Pharma 7879.55 -1.1 84498
ICICI PRUDENTIAL LIFE IN 509.9 -0.15 2268137 866007 57.45 Nifty Media 1839 -1.44 84498

 

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
•INR:  M3 Money Supply  on 6th November 2019

•INR:  FX Reserves , USD on 8th November 2019

•USA:  Crude Oil Inventories on  6th November 2019

•USA:  Nonfarm Productivity (QoQ) (Q3)   on 6th November 2019

 

NEWS UPDATES

                                                                                                   

-Tech Mahindra has reported 17.2 percent jump in its September quarter
net profit at Rs 1,124 crore against Rs 959.4 crore in the previous quarter.
The IT company’s rupee revenue rose 4.8 percent at Rs 9,070 crore against Rs 8,653 crore.
Earnings before interest and tax were up 16.8 percent at Rs 1,159.4 crore, while EBIT margin was up at 12.8 percent, QoQ.
-Aurobindo Pharma is under the US Food and Drug Administration (USFDA) scrutiny once again
While the US regulator is conducting inspections at Aurobindo pharma’s Unit – IV at Pashamylaram in Medak district of Telangana,
the inspections at its units V and VIII happened last week, Spread over 33 acres,
Aurobindo’s Unit-IV is a dedicated manufacturing facility for generic sterile injectables,
opthalmics, and low volume parenteral.
-Public sector lender Punjab National Bank on November 5 reported a profit at Rs 507.1 crore in Q2FY20,
though asset quality weakened sequentially. Other income, PPoP and lower provisions compared to the year-ago
period helped the lender report a profit during the quarter.
-Biocon on Tuesday said it has received an establishment inspection report (EIR) from
the US health regulator for its biologics drug product unit at Bengaluru. 

Source: Economic Times, Money Control
 

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
BOSCHLTD Quarterly Results 06-Nov-19 VGUARD Quarterly Results 06-Nov-19
CIPLA Quarterly Results 06-Nov-19 MFSL Quarterly Results 06-Nov-19
CANBK Quarterly Results 06-Nov-19 MANAPPURAM Interim Dividend;Quarterly Results 06-Nov-19
EXIDEIND Interim Dividend;Quarterly Results 06-Nov-19 RADICO A.G.M.;Quarterly Results 06-Nov-19
GODREJCP Interim Dividend;Quarterly Results 06-Nov-19 ALKYLAMINE Quarterly Results 06-Nov-19
IBULHSGFIN Interim Dividend;General 06-Nov-19 AMFORG Quarterly Results 06-Nov-19
TATASTEEL Quarterly Results 06-Nov-19 AVADHSUGAR Quarterly Results 06-Nov-19
FORTIS Quarterly Results 06-Nov-19 BANARISUG Quarterly Results 06-Nov-19
LUPIN General;Quarterly Results 06-Nov-19 BCPL Half Yearly Results 06-Nov-19
BAJAJELEC Quarterly Results 06-Nov-19 BENARAS General;Quarterly Results 06-Nov-19
HONDAPOWER Quarterly Results 06-Nov-19 BENGALASM Quarterly Results 06-Nov-19
VOLTAS Quarterly Results 06-Nov-19 BRIGADE Quarterly Results 06-Nov-19
BOSCHLTD Quarterly Results 06-Nov-19 VGUARD Quarterly Results 06-Nov-19

 

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
GPPL 06-Nov-19 Interim Dividend – Rs. – 2.10 SONATSOFTW 07-Nov-19 Interim Dividend – Rs. – 5.75
ORIENTCQ 06-Nov-19 Interim Dividend – Rs. – 4.00 SHRIRAMCIT 07-Nov-19 Interim Dividend – Rs. – 6.00
MPSLTD 06-Nov-19 Interim Dividend – Rs. – 50.00 FOSECOIND 07-Nov-19 Interim Dividend – Rs. – 7.00
NATHPULP 07-Nov-19 Amalgamation RAMAPULP 07-Nov-19 Reduction of Capital
INDINFR 07-Nov-19 Income Distribution (InvIT) PETRONET 07-Nov-19 Special Dividend – Rs. – 5.50
INFIBEAM 07-Nov-19 Interim Dividend – Rs. – 0.10 HIMGRANI 08-Nov-19 Stock  Split From Rs.10/- to Rs.5/-
TRIDENT 07-Nov-19 Interim Dividend – Rs. – 0.90 TCIEXP 11-Nov-19 Interim Dividend – Rs. – 1.50
DCMSHRIRAM 07-Nov-19 Interim Dividend – Rs. – 4.00 NICCOPAR 14-Nov-19 Interim Dividend – Rs. – 0.20
SRTRANSFIN 07-Nov-19 Interim Dividend – Rs. – 5.00 SUNDRMFAST 14-Nov-19 Interim Dividend – Rs. – 1.35

 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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