NIFTY:
The NIFTY continuous to move higher, taking small steps at a time, but remaining on a steady up move. The benchmark index closed at 12016, above the psychological 12000 mark as well as in the gain for 50 points over yesterday’s close.
All said and done, the uptrend is intact with numerous intraday dips. The intraday dips that we see every day are in fact a substitute for a larger correction. We have an intraday dips and by the end of the day the markets recovers. Such dips can be considered as running corrections which means a correction that occures within the day. We are writing about such a correction because all markets should correct and do correct.
Says the NIFTY has been moving up, a question may be asked if this up move without a correction is sustainable? The answere lies in running correction, where the markets correct every day. With volatility likely to continue, we should expect 12150 sooner rather then later.
VIEW:
Buy on a dip towards 11970 with a stop just below 11930.
Buy on a breakout above 12030 with a stop just below 11990
TECHNICAL PICKS
| COMPANY | CMP | B/S | RATIONALE |
| PFC | 113.35 | 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 111 and for the target of 116.50. |
| MGL | 957.90 | SELL | The immediate trend of the stock is week . The stock can be sell with a stop loss of 970 and for the target of 940. |
DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| ASIANPAINT | 1840 CE | BUY | 36.35 | CMP | 29 | 46-50 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| MFSL.Nov 28 | 478.9 | 9.46 | 66 | 4657200 | UBL.Nov 28 | 1225 | -2.6 | 20.71 | 2725800 | |
| COLPAL.Nov 28 | 1606 | 3.29 | 26.41 | 2774100 | LUPIN.Nov 28 | 742.05 | -4.13 | 15.99 | 8759800 | |
| LICHSGFIN.Nov 28 | 439.3 | 3.04 | 19.26 | 11108900 | APOLLOTYRE.Nov 28 | 166.5 | -1.33 | 15.74 | 9642000 | |
| IGL.Nov 28 | 395.5 | 0.64 | 18.16 | 3382500 | BANKBARODA.Nov 28 | 96.65 | -3.11 | 14.81 | 81207000 | |
| NBCC.Nov 28 | 41.85 | 8.42 | 17.37 | 38947000 | VOLTAS.Nov 28 | 670.65 | -0.82 | 14.67 | 3033000 | |
| Short Covering | Long unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| NIFTYIT.Nov 28 | 15750 | 0.56 | -1.4 | 7050 | CESC.Nov 28 | 779.1 | -0.28 | -2.58 | 1058400 | |
| TATACHEM.Nov 28 | 646.8 | 0.02 | -1.31 | 2646900 | CENTURYTEX.Nov 28 | 396.5 | -1.18 | -1.69 | 2022600 | |
| APOLLOHOSP.Nov 28 | 1468.75 | 3.41 | -1.29 | 1763500 | CIPLA.Nov 28 | 473.95 | -1.57 | -1.63 | 14240000 | |
| PETRONET.Nov 28 | 285.8 | 0.79 | -1.27 | 18867000 | RAMCOCEM.Nov 28 | 805.35 | -0.14 | -1.39 | 1134400 | |
| BOSCHLTD.Nov 28 | 15250 | 0.64 | -1.25 | 149190 | TECHM.Nov 28 | 772.6 | -0.05 | -1.09 | 16616400 | |
Top Delivery Percentage
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| THE RAMCO CEMENTS | 802.2 | -0.06 | 475774 | 580387 | 80.5 | INDIA VIX | 15.21 | -3.63 | 85737 | |
| Power Grid Corporation o | 194.2 | -0.46 | 8717658 | 4082746 | 79.04 | Nifty Auto | 8239.9 | -0.23 | 85740 | |
| HCL Technologies Ltd. | 1148.45 | 0.01 | 1269319 | 1682433 | 73.52 | Nifty Energy | 16194.65 | -0.09 | 85740 | |
| United Breweries Limited | 1236.6 | -1.66 | 642326 | 2189312 | 67.84 | Nifty Bank | 30633.15 | 0.08 | 85740 | |
| Hindustan Unilever Ltd | 2138.25 | -1.89 | 1970785 | 734192 | 67.16 | Nifty Media | 1839.2 | 0.35 | 85740 | |
| NESTLEIND | 14711.25 | 0.42 | 47438 | 52236 | 66.41 | Nifty 50 | 12012.05 | 0.38 | 85740 | |
| ICICI PRUDENTIAL LIFE IN | 518.1 | -0.37 | 2623595 | 1686850 | 61.07 | Nifty IT | 15624.4 | 0.41 | 85740 | |
| BHARTI INFRATEL LIMITED | 229.45 | 3.75 | 10721436 | 8041255 | 60.6 | Nifty FMCG | 32535.9 | 0.44 | 85740 | |
| CONTAINER CORP OF INDIA | 579.6 | -0.14 | 542342 | 716449 | 60.49 | Nifty Pharma | 7966 | 0.5 | 85740 | |
| CUMMINS INDIA LIMITED | 552.2 | 0.16 | 681069 | 336550 | 59.85 | Nifty Metal | 2659.05 | 0.97 | 85740 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| •INR: FX Reserves , USD on 8th November 2019
•INR: Industrial Production (YoY) (Sep) on 11th November 2019 |
•USA: Core CPI (MoM) (Oct) on 13th November 2019
•USA: PPI (MoM) (Oct) on 14th November |
NEWS UPDATES
Share prices of Yes Bank declined 4 percent intraday on November 7 after Moody’s had placed bank’s ratings under review for downgrade. Global ratings agency Moody’s on November 6 placed private sector lender Yes Bank’s ratings under review for downgrade. The Ba3 rating of the bank can be downgraded because of the weak September quarter earnings and the bank managing to get only a commitment for $1.2 billion in funding recently.
Sun Pharmaceutical Industries Ltd. reported a profit in the quarter ended September, matching analysts’ expectations. The company posted a net profit of Rs 1,064 crore in the three-month period compared with a net loss of Rs 270 crore a year ago.
Qatar Airways reiterated it is keen to buy a stake in IndiGo, India’s biggest airline, to help the Doha-based company bolster its presence in the world’s fastest-growing aviation market. The company, which signed a code-share partnership with IndiGo’s owner, Interglobe Aviation Ltd., on Thursday, first showed interest in acquiring a stake in 2015.
UPL Ltd.’s quarterly profit missed estimates because of a one-time expense. The company’s Q2FY20 consolidated net profit stood at Rs 89 crore versus Rs 270 crore in a year-ago period. Revenue of the company rose 83.6 percent at Rs 7,817 crore against Rs 4,257 crore, in the same period last year
Source: Economic Times, Money Control
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| ALBK | Quarterly Results | 08-Nov-19 | TATACOMM | Quarterly Results | 08-Nov-19 |
| ASHOKLEY | Quarterly Results | 08-Nov-19 | EQUITAS | Quarterly Results | 08-Nov-19 |
| BANKBARODA | Quarterly Results | 08-Nov-19 | CENTURYTEX | Quarterly Results | 08-Nov-19 |
| BHARATFORG | Quarterly Results | 08-Nov-19 | ZUARIGLOB | Quarterly Results | 08-Nov-19 |
| TATAPOWER | Quarterly Results | 08-Nov-19 | CENTURYPLY | Quarterly Results | 08-Nov-19 |
| EICHERMOT | Quarterly Results | 08-Nov-19 | CRISIL | Interim Dividend;Quarterly Results | 08-Nov-19 |
| GAIL | Quarterly Results | 08-Nov-19 | DHANUKA | Quarterly Results | 08-Nov-19 |
| IDBI | Quarterly Results | 08-Nov-19 | GSPL | Quarterly Results | 08-Nov-19 |
| IDFC | Quarterly Results | 08-Nov-19 | KHADIM | Quarterly Results | 08-Nov-19 |
| M&M | Quarterly Results | 08-Nov-19 | RELIGARE | Quarterly Results | 08-Nov-19 |
| MRF | General;Interim Dividend | 08-Nov-19 | STCINDIA | Quarterly Results | 08-Nov-19 |
| NESTLEIND | Quarterly Results | 08-Nov-19 | CAMLINFINE | Quarterly Results | 08-Nov-19 |
| ALBK | Quarterly Results | 08-Nov-19 | TATACOMM | Quarterly Results | 08-Nov-19 |
Corporate Action
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| HIMGRANI | 08-Nov-19 | Stock Split From Rs.10/- to Rs.5/- | GODREJCP | 14-Nov-19 | Interim Dividend – Rs. – 2.00 |
| TCIEXP | 11-Nov-19 | Interim Dividend – Rs. – 1.50 | AJANTPHARM | 15-Nov-19 | Interim Dividend – Rs. – 13.00 |
| TCI | 13-Nov-19 | Interim Dividend – Rs. – 1.00 | GILLETTE | 18-Nov-19 | Final Dividend – Rs. – 25.00 |
| DABUR | 13-Nov-19 | Interim Dividend – Rs. – 1.40 | EXIDEIND | 18-Nov-19 | Interim Dividend – Rs. – 1.60 |
| TRIDENT | 13-Nov-19 | Stock Split From Rs.10/- to Rs.1/- | IBULHSGFIN | 18-Nov-19 | Interim Dividend – Rs. – 7.00 |
| NICCOPAR | 14-Nov-19 | Interim Dividend – Rs. – 0.20 | PGHH | 19-Nov-19 | Final Dividend – Rs. – 48.00 |
| TRITURBINE | 14-Nov-19 | Interim Dividend – Rs. – 0.50 | MANAPPURAM | 19-Nov-19 | Interim Dividend – Rs. – 0.55 |
| SUNDRMFAST | 14-Nov-19 | Interim Dividend – Rs. – 1.35 | CARERATING | 19-Nov-19 | Interim Dividend – Rs. – 8.00 |
| EMAMILTD | 14-Nov-19 | Interim Dividend – Rs. – 2.00 | INGERRAND | 20-Nov-19 | Interim Dividend – Rs. – 3.00 |
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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