outlook-2019-11-08

 

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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