NIFTY:
The Nifty opened at 12156.65 with a gap up of 36 points. The index continued its strong bullish momentum and saw a sharp rally throughout the day. Minor dips in between are quickly bought and prices have rallied almost 150 points with intraday low recorded at 12131.85 and high recorded at 12280.40. The index finally closed near its day high at 12263.55 up by 143.25 points. Pharma and FMCG have underperformed and closed lower while all other sectoral indices have seen some gains led by Banks and Financials.
We had suggested buying the index only a dip towards 12050. The Nifty opened higher and did not look back, thus our level of 12050 was not touched. This is fine as we should only take trades with a favourable risk reward ratio.
The long term trend has been up and continues to remain bullish. This is fairly obvious because the Nifty is making new highs regularly. Long term momentum turned up and has now gained more while it continues to rise. The intermediate trend started rising suggesting that a small correction is over. We are in an uptrend and we should look for buying at the right levels.
BANK NIFTY:
Bank Nifty opened at 26274.10 with a gap down of 42 points. Prices have seen a sharp intraday rally with minor dips in between. The index finally closed at 26798 with a gain of almost 500 points.
Private Banks have outperformed and closed higher by 2.12%. Within the index, in terms of points, HDFC Bank contributed highest followed by Kotak Bank. Bank Nifty continued its upside momentum and index gained almost 2% and continued making new highs for the current uptrend.
This week was very good for the Bulls as the index closed 2870 points higher compared to last Friday, closing up by almost 12%. After such a sharp move, we should wait for a dip to buy.
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TECHNICAL PICKS
| COMPANY | CMP | B/S | RATIONALE |
| HCLTECH | 850.10 | BUY | The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 840 and for the target 865. |
| LUPIN | 916.90 | SELL | The stock has given a breakdown from a narrow trading range. The stock can be sold between 920-922 with a stop at 930 and for the target 900 |
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DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| JUBLFOOD | 2250 CE | BUY | 91.15 | CMP | 75 | 125 | OI increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| RBLBANK.Nov 26 | 193.15 | 3.59 | 30.56 | 20516600 | CONCOR.Nov 26 | 376.3 | -7.51 | 48.76 | 7605558 | |
| MOTHERSUMI.Nov 26 | 117.4 | 3.71 | 26.69 | 27874000 | BOSCHLTD.Nov 26 | 11650.9 | -3.43 | 22.36 | 186900 | |
| VOLTAS.Nov 26 | 753 | 1.09 | 25.2 | 3771000 | LICHSGFIN.Nov 26 | 300.2 | -2.44 | 19.32 | 12354000 | |
| MFSL.Nov 26 | 626.4 | 0.68 | 19.63 | 2115100 | GAIL.Nov 26 | 86.2 | -1.65 | 15.44 | 26083600 | |
| ICICIGI.Nov 26 | 1261.4 | 1.15 | 14.79 | 138550 | UBL.Nov 26 | 949.15 | -0.85 | 12.38 | 1696100 | |
| Short Covering | Long Unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| APOLLOTYRE.Nov 26 | 153.9 | 3.67 | -7.04 | 10105000 | SAIL.Nov 26 | 38.1 | -0.91 | -8.99 | 55613000 | |
| CUMMINSIND.Nov 26 | 456.5 | 0.3 | -4.91 | 1279200 | PVR.Nov 26 | 1208.75 | -0.59 | -0.76 | 1755391 | |
| GODREJPROP.Nov 26 | 946.35 | 3.42 | -3.8 | 1612650 | ADANIENT.Nov 26 | 352 | -0.82 | -0.43 | 18776000 | |
| DABUR.Nov 26 | 526.15 | 1.17 | -3.51 | 11985000 | GLENMARK.Nov 26 | 510 | -0.39 | -0.23 | 7415200 | |
| IOC.Nov 26 | 80.35 | 0.12 | -3.18 | 46346700 | ||||||
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Max Financial Services l | 621.15 | 0.32 | 697624 | 1475301 | 71.68 | Nifty Bank | 26798.95 | 1.85 | 81576 | |
| Petronet Lng Limited | 230.45 | 2.26 | 5115959 | 3184636 | 66.5 | Nifty 50 | 12263.55 | 1.18 | 81576 | |
| Icici Lombard General In | 1260.45 | 1.35 | 432511 | 339191 | 62.96 | Nifty Energy | 15180.75 | 1.07 | 81576 | |
| Hdfc Life Insurance Comp | 590.6 | -0.24 | 1990463 | 1444515 | 61.46 | Nifty Realty | 226.95 | 1.07 | 81576 | |
| Hindustan Unilever Ltd | 2094.15 | -0.39 | 2127821 | 1248182 | 59.9 | Nifty it | 21492.3 | 0.5 | 81576 | |
| Britannia Ind Ltd. | 3513.55 | 0.41 | 582470 | 585724 | 58.58 | Nifty Metal | 2500.35 | 0.47 | 81576 | |
| Bharti Infratel Limited | 179.5 | 0.76 | 7945344 | 5893735 | 58.09 | Nifty Auto | 8006.1 | 0.13 | 81576 | |
| Icici Prudential Life In | 417.7 | 0.99 | 2449403 | 1526574 | 56.08 | Nifty Media | 1473.4 | 0.05 | 81576 | |
| Colgate Palmolive (india | 1507.2 | 1.7 | 774861 | 582507 | 55.36 | Nifty Fmcg | 30150.65 | -0.1 | 81576 | |
| Sbi Life Insurance Compa | 801.25 | -0.47 | 1722728 | 747899 | 54.45 | Nifty Pharma | 11623.35 | -0.7 | 81576 | |
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UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: CPI (YoY) (Oct) on 12th November, 2020
INR: Industrial Production (YoY) (Sep ) on 12th November, 202 |
•USD: EIA Short-Term Energy Outlook on 10th November, 2020
•USD: JOLTs Job Openings (Sep) on 10th November, 2020 |
NEWS UPDATES
| •Zydus Cadila is expected to test its Covid vaccine candidate, ZyCoV-D, on about 30,000 people in the Phase-3 trials that it plans to start next month. The Ahmedabad-based company has completed dosing of Phase-2 on 1,000 participants and plans to submit data to India’s drug regulator this month. Preliminary results show that it is safe as no safety concerns have been observed so far, people in the know said.
•ITC Ltd.’s quarterly profit fell led by lower sales of cigarettes. Net profit of the maker of Gold Flake cigarettes declined 20% year-on-year to Rs 3,232 crore in the quarter ended September, according to an exchange filing. That compares with the Rs 3,237-crore consensus estimate of analysts tracked by Bloomberg. Revenue rose 1% year-on-year to Rs 11,977 crore. Operating profit stood at Rs 4,061 crore, down 11% from last year, while margin stood at 33.9% compared to 38.4% a year ago. •Cipla Ltd.’s quarterly profit rose as the drugmaker’s operating expenses fell and sales in the domestic market improved. Net profit rose 41% year-on-year to Rs 665 crore in the quarter ended September, according to an exchange filing. That compares with the Rs 585-crore consensus estimate of analysts tracked by Bloomberg. Revenue increased 14.6% over the last year to Rs 5,038 crore, against the Rs 4,670-crore forecast. Cipla’s India sales rose 17% year-on-year, with growth across prescription, trade generics and consumer health business. 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 |
| BALAJITELE | Quarterly Results | 9-Nov-20 | NOCIL | Quarterly Results | 9-Nov-20 |
| DELTACORP | Quarterly Results | 9-Nov-20 | OIL | Quarterly Results | 9-Nov-20 |
| EIDPARRY | Quarterly Results | 9-Nov-20 | OIVL | Quarterly Results | 9-Nov-20 |
| EQUITASBNK | Quarterly Results | 9-Nov-20 | PARAGMILK | Quarterly Results | 9-Nov-20 |
| FLFL | Quarterly Results | 9-Nov-20 | PCJEWELLER | Quarterly Results | 9-Nov-20 |
| INDIAMART | Audited Results | 9-Nov-20 | POLYPLEX | Interim Dividend;Quarterly Results | 9-Nov-20 |
| INSECTICID | Interim Dividend;Quarterly Results | 9-Nov-20 | PSPPROJECT | General;Quarterly Results | 9-Nov-20 |
| ISGEC | Quarterly Results | 9-Nov-20 | PTC | Quarterly Results | 9-Nov-20 |
| JINDALSAW | Quarterly Results | 9-Nov-20 | RENUKA | Quarterly Results | 9-Nov-20 |
| JKCEMENT | Quarterly Results | 9-Nov-20 | TRANSPEK | Quarterly Results | 9-Nov-20 |
| L&TFH | General | 9-Nov-20 | TRIVENI | Quarterly Results | 9-Nov-20 |
| MOREPENLAB | Quarterly Results | 9-Nov-20 | UNIVCABLES | Quarterly Results | 9-Nov-20 |
| MSTC | Quarterly Results | 9-Nov-20 | ZUARI | Quarterly Results | 9-Nov-20 |
| NCLIND | Quarterly Results | 9-Nov-20 | AARTIIND | Interim Dividend;Quarterly Results | 10-Nov-20 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| ASIANTILES | 9-Nov-20 | Dividend – Rs. – 0.70 | LAURUSLABS | 10-Nov-20 | Interim Dividend – Rs. – 0.80 |
| EMBASSY | 9-Nov-20 | Income Distribution RITES | NAVINFLUOR | 10-Nov-20 | Interim Dividend – Rs. – 5.00 |
| INDIGRID | 9-Nov-20 | Income Distribution (InvIT) | NEULANDLAB | 10-Nov-20 | Interim Dividend – Rs. – 2.00 |
| KHAICHEM | 9-Nov-20 | Interim Dividend – Rs. – 0.10 | ORIENTCQ | 10-Nov-20 | Interim Dividend – Rs. – 4.00 |
| MASTEK | 9-Nov-20 | Interim Dividend – Rs. – 5.50 | RAIN | 10-Nov-20 | Interim Dividend – Rs. – 1.00 |
| SHARDACROP | 9-Nov-20 | Interim Dividend – Rs. – 2.00 | REGENCY | 10-Nov-20 | Bonus issue 1:1 |
| SRTRANSFIN | 9-Nov-20 | Interim Dividend – Rs. – 6.00 | BUTTERFLY | 11-Nov-20 | Interim Dividend – Rs. – 1.50 |
| DEEPENR | 10-Nov-20 | Spin Off | DABUR | 11-Nov-20 | Interim Dividend – Rs. – 1.7500 |
| GOPALA | 10-Nov-20 | Reduction of Capital | SHRIRAMCIT | 11-Nov-20 | Interim Dividend – Rs. – 10.00 |
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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