The NIFTY opened at 18288.25 with a gap up of 86 points. The index recorded its intraday high at around 18296.40 in its initial trades and then started drifting downwards. A sharp deadline filled the gap and then prices went into a process of consolidation which eventually broke on the downside. The index fell further to record its intraday low at 18117.50. The NIFTY finally closed at 18157 with a loss of 45.80 points or 0.25% down. BANK and FMCG outperformed today and closed within or gains. PHARMA and REALTY underperformed today and closed with a loss of over 1% followed by METAL which ended nearly 1% lower.  The short-term trend is up and there is no doubt about it as prices are trading near the swing highs on the current up move. However, we have seen an upside surge from 17000 to 18200 without much of a correction. After such a large move, prices tend to consolidate or even see a dip. That is natural as prices move in a staircase pattern. It is possible that the index has already begun a process of consolidation. Support is visible around the 17950 – 18000 zone while resistance is visible around the 18200 – 18300 zone. As of now, we should avoid trading the index and wait for an adequate set-up to emerge.


The BANK NIFTY opened at 41914.85 with a gap up of 193 points. The index moved down, filled the gap, and then found support around 41700. Prices have consolidated there and then moved up to record its intraday high at 41948.90. The index again moved down with more pace, recorded its intraday low at 41667.90, and finally closed at 41690.65 without much of a change. PSU BANKS have outperformed today by closing 3.93% higher while PVT BANKS have closed on a flat note. Within the index, in terms of points, BANK BARODA contributed the highest on the upside while ICICIBANK contributed the lowest. BANK NIFTY has seen a volatile movement today and ended on a flat note. The index recorded lifetime new highs today but could not sustain there long enough. We have been tracking a narrow trading range inside 40800 – 41700. This range has seen a breakout yesterday but did not see a follow-through today putting a question mark. However, the short-term trend is up and it will be up as long as prices are trading above 40800. We should look for buying opportunities only. Shorting opportunities may emerge on a lower closing below 40800.


CANFIN HOMES 534.8 BUY The stock has given a breakout on the intraday as well as the daily chart. The stock can be bought at 536.65 with a stop loss of 532 and a target of 545.
AU BANK 642.55 BUY The stock has given a breakout on the intraday as well as the daily chart. The stock can be bought at 645.7 with a stop loss of 638.95 and a target of 655.9.


Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
HDFC 2500 (CE) BUY 46.70 CMP 40.50 58.50 BREAKOUT
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
PIIND.22.11 Nov 3642 9.68 17.29 2099750 LALPATHLAB.22.11 Nov 2329.2 -10.95 24.38 1265250
PNB.22.11 Nov 45.15 7.37 11.66 268384000 MRF.22.11 Nov 86160 -9.7 37.06 73930
BANKBARODA2211Nov 166.45 4.78 12.62 105147900 JUBLFOOD.22.11 Nov 563.5 -8.62 47.63 16073750
ADANIPORTS.22.11Nov 893.45 4.23 2.78 75603125 GODREJPROP.22.11 Nov 1174.35 -7.43 18.86 5387850
AUBANK.22.11 Nov 637.6 3.93 1.56 7053000 RAMCOCEM.22.11 Nov 700.55 -5.36 20.11 3818200
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
BOSCHLTD.22.11 Nov 17315 4.82 -5.24 190750 METROPOLIS.22.11 Nov 1578 -8.21 -0.84 813000
CANFINHOME2211Nov 537 2.29 -0.37 4415775 ABB.22.11 Nov 3105.15 -5.44 -0.45 1448250
IDEA.22.11 Nov 8.55 1.79 -1.25 5.43E+08 JINDALSTEL.22.11 Nov 481.45 -3.15 -0.58 25686250
DELTACORP.22.11 Nov 223.4 1.64 -0.01 16493300 POLYCAB.22.11 Nov 2695.75 -2.06 -1.42 855600
HEROMOTOCO2211Nov 2646.9 0.89 -1.87 2575500 BALKRISIND.22.11 Nov 1937.65 -2.03 -0.73 2317200


Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Colgate Palmolive (india 1584.4 -0.22 316319 0 72.64 Nifty50 18157 -0.25 100515
Icici Bank Ltd. 910.5 -0.76 11590409 0 72 Niftybank 41783.2 0.23 100455
Hdfc Life Insurance Comp 531.75 -0.79 2253327 0 71.55 Nifty it 28626.8 -0.4 100455
Bharti Airtel Limited 819.05 -0.44 3969171 0 71.54 India Vix 15.91 2.15 103578
Kotak Mahindra Bank Limi 1893.4 0.57 2322634 0 69.89 Nifty Fmcg 44826.55 0.26 100455
Hindustan Unilever Ltd 2508.8 -0.95 1436444 0 69.81 Nifty Pharma 13079.5 -1.14 100455
Sun Pharma  Ltd 1013.55 -1.44 2268760 0 69.14 Nifty Realty 441.55 -1.37 100455
Hdfc Ltd. 2503.5 -0.16 2907326 0 68.54 Nifty Auto 13341.4 -0.76 100455
Sbi Cards And Payment Se 814.25 0.96 2372049 0 68.39 Nifty Metal 6364.05 -0.93 100455
Sbi Life Insurance Compa 1263.8 -1.16 992095 0 68.37 Nifty Financial Services 18689.35 -0.27 100455


   Domestic                                                                                                                                                  International
INR: FX Reserves, USD on 11th  November, 2022

INR: CPI (YoY) (Oct)on 11th  November, 2022

 USD: Initial Jobless Claims on 10th  November, 2022

USD: CPI (MoM) (Oct) on 10th  November, 2022


  • In the highly volatile session the Indian benchmark indices ended lower with Nifty below 18200.At Close, the Sensex was down 151.60 points or 0.25% at 61,033.55, and the Nifty was down 45.80 points or 0.25% at 18,157. About 1669 shares have advanced, 1745 shares declined, and 108 shares are unchanged.

  • The lock-in for Nykaa shares expires on November 10. Private equity funds and high networth individuals (HNIs), who were early investors in cosmetics-to-fashion retailer Nykaa, are the biggest winners as the stock still trades below IPO issue price.

  • The transactions in government securities (G-Sec) in the secondary market using the central bank’s digital currency recorded the highest volume on November 7 since its inception on the back of higher trades settled in the 10-year benchmark bond.

  • Banks are likely to confront higher retail loans turning bad as accelerating inflation, high interest rates and job losses hurt borrowers’ capacity to repay loans, experts and analysts told Moneycontrol on November 9.

Source: Economic Times,  Indian Express, Business Today, Livemint, Business Standard, Bloomberg Quint


Company Name Purpose Meeting Date Company Name Purpose Meeting Date
21STCENMGM Quarterly Results 10-Nov-22 BJDUP Quarterly Results 10-Nov-22
63MOONS Quarterly Results 10-Nov-22 BLKASHYAP Quarterly Results 10-Nov-22
7SEASL General;Quarterly Results 10-Nov-22 BMBMUMG Quarterly Results 10-Nov-22
AAL General;Quarterly Results 10-Nov-22 BNALTD Quarterly Results 10-Nov-22
ABMKNO Quarterly Results 10-Nov-22 BNRSEC General;Quarterly Results 10-Nov-22
ADANIGREEN Quarterly Results 10-Nov-22 BRIGHTBR Quarterly Results 10-Nov-22
ADCINDIA Quarterly Results 10-Nov-22 BSELINFRA General;Quarterly Results 10-Nov-22
AJCON Quarterly Results 10-Nov-22 BSL Quarterly Results 10-Nov-22
AJMERA Quarterly Results 10-Nov-22 CAMPUS Quarterly Results 10-Nov-22
ALKALI General;Quarterly Results 10-Nov-22 CAPACITE Quarterly Results 10-Nov-22
ALKASEC Quarterly Results 10-Nov-22 CCLINTER Quarterly Results 10-Nov-22
ALMONDZ General;Quarterly Results 10-Nov-22 CENTRUM Quarterly Results 10-Nov-22
ALSTONE Bonus issue;Consolidation of Shares;Increase in Authorised Capital 10-Nov-22 CENTURYPLY Quarterly Results 10-Nov-22
AMALGAM Quarterly Results 10-Nov-22 CFL Quarterly Results 10-Nov-22
AMCOIND Quarterly Results 10-Nov-22 CGVAK General;Quarterly Results 10-Nov-22
ANANDPROJ Quarterly Results 10-Nov-22 CHMBBRW Quarterly Results 10-Nov-22
ANSALHSG Quarterly Results 10-Nov-22 CINELINE Quarterly Results 10-Nov-22
APOLLOHOSP General;Quarterly Results 10-Nov-22 CITYON Quarterly Results 10-Nov-22
ARHNTTO General;Quarterly Results 10-Nov-22 CITYONLINE General;Quarterly Results 10-Nov-22
ARNOLD General;Quarterly Results 10-Nov-22 COCHINM Quarterly Results 10-Nov-22
AROGRANITE Audited Results 10-Nov-22 COCHINSHIP Interim Dividend;Quarterly Results 10-Nov-22
ASAHISONG Quarterly Results 10-Nov-22 COFFEEDAY Quarterly Results 10-Nov-22
ASHISHPO Quarterly Results 10-Nov-22 COMPUSOFT General;Quarterly Results 10-Nov-22
ASHOKLEY Quarterly Results 10-Nov-22 CONCOR Interim Dividend;General;Quarterly Results 10-Nov-22
ASIANTILES Quarterly Results 10-Nov-22 CORNE General;Quarterly Results 10-Nov-22
ASTERDM Quarterly Results 10-Nov-22 CPML Half Yearly Results 10-Nov-22
AVANTI Quarterly Results 10-Nov-22 CTE Quarterly Results 10-Nov-22
BALAJITELE Quarterly Results 10-Nov-22 CUBIFIN Quarterly Results 10-Nov-22
BANASFN Quarterly Results 10-Nov-22 CYBERMEDIA Quarterly Results 10-Nov-22
BASF Quarterly Results 10-Nov-22 DAAWAT Preferential Issue of shares 10-Nov-22
BATAINDIA Quarterly Results 10-Nov-22 DARSHANORNA Quarterly Results 10-Nov-22
BCONCEPTS Quarterly Results 10-Nov-22 DCMFINSERV Quarterly Results 10-Nov-22
BCPL Quarterly Results 10-Nov-22 DECOMIC General 10-Nov-22
BDH Quarterly Results 10-Nov-22 DEEPAKFERT Quarterly Results 10-Nov-22
BECTORFOOD Quarterly Results 10-Nov-22 DEEPIND Quarterly Results 10-Nov-22
BERGEPAINT Quarterly Results 10-Nov-22 DELTA General;Quarterly Results 10-Nov-22
BHARATGEAR Quarterly Results 10-Nov-22 DHOOTIN Quarterly Results 10-Nov-22
BIGBLOC General;Quarterly Results 10-Nov-22 DHUNTEAIND Quarterly Results 10-Nov-22
BIMETAL Quarterly Results 10-Nov-22 DICIND Quarterly Results 10-Nov-22


Company Name Ex-Date Purpose Company Name Ex-Date Purpose
DAAWAT 10-Nov-22 Interim Dividend – Rs. – 0.5000 QGO 16-Nov-22 Interim Dividend – Rs. – 0.1000
DALBHARAT 10-Nov-22 Interim Dividend – Rs. – 4.0000 DHANUKA 17-Nov-22 Buy Back of Shares
GILLETTE 10-Nov-22 Final Dividend – Rs. – 36.0000 GABRIEL 17-Nov-22 Interim Dividend
NYKAA 10-Nov-22 Bonus issue 5:1 GRINFRA 17-Nov-22 Interim Dividend
SHAREINDIA 10-Nov-22 Interim Dividend – Rs. – 2.0000 IRFC 17-Nov-22 Interim Dividend
SSWL 10-Nov-22 Stock  Split From Rs.5/- to Rs.1/- MRF 17-Nov-22 Interim Dividend
AJANTPHARM 11-Nov-22 Interim Dividend – Rs. – 7.0000 ORIENTCQ 17-Nov-22 Interim Dividend – Rs. – 7.0000
GMM 11-Nov-22 Interim Dividend – Rs. – 1.0000 PAGEIND 17-Nov-22 Interim Dividend
GPTINFRA 11-Nov-22 Bonus issue 1:1 PDSL 17-Nov-22 Interim Dividend – Rs. – 2.5000
RUNGTAIR 11-Nov-22 Right Issue of Equity Shares QUESS 17-Nov-22 Interim Dividend
SAMOR 11-Nov-22 Right Issue of Equity Shares RITES 17-Nov-22 Interim Dividend
SIYSIL 11-Nov-22 Interim Dividend – Rs. – 4.0000 VIDHIING 17-Nov-22 Interim Dividend
AMRUTANJAN 14-Nov-22 Interim Dividend – Rs. – 1.0000 ASTRAL 18-Nov-22 Interim Dividend
ARFIN 14-Nov-22 Stock  Split From Rs.10/- to Rs.1/- DATAINFRA 18-Nov-22 Income Distribution (InvIT)
COMPUAGE 14-Nov-22 Right Issue of Equity Shares EMAMILTD 18-Nov-22 Interim Dividend
EPL 14-Nov-22 Interim Dividend – Rs. – 2.1500 ESABINDIA 18-Nov-22 Interim Dividend
JAMNAAUTO 14-Nov-22 Interim Dividend – Rs. – 0.8000 HAL 18-Nov-22 Interim Dividend
NICCOPAR 14-Nov-22 Interim Dividend – Rs. – 0.4000 INDAG 18-Nov-22 Interim Dividend – Rs. – 0.9000
PGINVIT 14-Nov-22 Income Distribution (InvIT) LAOPALA 18-Nov-22 Interim Dividend
POWERGRID 14-Nov-22 Interim Dividend – Rs. – 5.0000 MAANALU 18-Nov-22 Interim Dividend – Rs. – 1.0000
SMCGLOBAL 14-Nov-22 Interim Dividend – Rs. – 1.2000 MINDSPACE 18-Nov-22 Income Distribution RITES
AEGISLOG 15-Nov-22 Interim Dividend NAUKRI 18-Nov-22 Interim Dividend
AMARAJABAT 15-Nov-22 Interim Dividend – Rs. – 2.9000 PPAP 18-Nov-22 Interim Dividend
BIRET 15-Nov-22 Income Distribution RITES STANCAP 18-Nov-22 E.G.M.
COALINDIA 15-Nov-22 Interim Dividend – Rs. – 15.0000 BALKRISIND 21-Nov-22 Interim Dividend
GLOSTERLTD 15-Nov-22 Interim Dividend – Rs. – 50.0000 BELLACASA 21-Nov-22 Interim Dividend
INDIGRID 15-Nov-22 Income Distribution (InvIT) MAZDOCK 21-Nov-22 Interim Dividend
MODIS 15-Nov-22 Bonus issue 3:1 PRAVEG 21-Nov-22 Final Dividend – Rs. – 4.0000
PGHL 15-Nov-22 Final Dividend – Rs. – 11.5000 TIDEWATER 21-Nov-22 Interim Dividend
BHAGCHEM 16-Nov-22 Interim Dividend – Rs. – 1.0000 IPCALAB 22-Nov-22 Interim Dividend
CAMS 16-Nov-22 Interim Dividend – Rs. – 8.5000 MANAKSIA 25-Nov-22 Interim Dividend
MSUMI 16-Nov-22 Bonus issue 2:5 PREMCO 25-Nov-22 Interim Dividend
PRESSURS 16-Nov-22 Stock  Split From Rs.10/- to Rs.1/- CHANDRAP 30-Nov-22 Stock  Split From Rs.10/- to Rs.2/-

Disclosure in pursuance of Section 19 of SEBI (RA) Regulation 2014

Elite Wealth Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only information in making their investment decision and must exercise their own judgment before making any investment decision.
For analyst certification and other important disclosures, see the Disclosure Appendix, or go to Analysts employed by Elite Wealth Limited are registered/qualified as research analysts with SEBI in India.( SEBI Registration No.: INH100002300)
Disclosure Appendix
Analyst Certification (For Reports)
Israil Khan, Elite Wealth Limited,
The analyst(s) certify that all of the views expressed in this report accurately reflect my/our personal views about the subject company or companies and its or their securities. I/We also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report. Unless otherwise stated, the individuals listed on the cover page of this report are analysts in Elite Wealth Limited.
As to each individual report referenced herein, the primary research analyst(s) named within the report individually certify, with respect to each security or issuer that the analyst covered in the report, that:
(1) all of the views expressed in the report accurately reflect his or her personal views about any and all of the subject securities or issuers; and
(2) no part of any of the research analyst’s compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed in the report.
For individual analyst certifications, please refer to the disclosure section at the end of the attached individual notes.
Research Excerpts
This note may include excerpts from previously published research. For access to the full reports, including analyst certification and important disclosures, investment thesis, valuation methodology, and risks to rating and price targets, please visit
Company-Specific Disclosures
Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting, or emailing with your request. Elite Wealth Limited may screen companies based on Strategy, Technical, and Quantitative Research. For important disclosures for these companies, please e-mail
Options related research:
If the information contained herein regards options related research, such information is available only to persons who have received the proper option risk disclosure documents. For a copy of the risk disclosure documents, please contact your Broker’s Representative or visit the OCC’s website at
Other Disclosures
All research reports made available to clients are simultaneously available on our client websites. Not all research content is redistributed, e-mailed or made available to third-party aggregators. For all research reports available on a particular stock, please contact your respective broker’s sales person.
Ownership and material conflicts of interest Disclosure
Elite Wealth Limited policy prohibits its analysts, professionals reporting to analysts from owning securities of any company in the analyst’s area of coverage. Analyst compensation: Analysts are salary based permanent employees of Elite Wealth Limited. Analyst as officer or director: Elite Wealth Limited policy prohibits its analysts, persons reporting to analysts from serving as an officer, director, board member or employee of any company in the analyst’s area of coverage.
Country Specific Disclosures
India – For private circulation only, not for sale.
Legal Entities Disclosures
Mr. Ravinder Parkash Seth is the Managing Director of Elite Wealth Ltd (EWL, henceforth), having its registered office at Casa Picasso, Golf Course Extension, Near Rajesh Pilot Chowk, Radha Swami, Sector-61, Gurgaon-122001 Haryana, is a SEBI registered Research Analyst and is regulated by Securities and Exchange Board of India. Telephone:011-43035555, Facsimile: 011-22795783 and Website:
EWL discloses all material information about itself including its business activity, disciplinary history, the terms and conditions on which it offers research report, details of associates and such other information as is necessary to take an investment decision, including the following:
1. Reports
a) EWL or his associate or his relative has no financial interest in the subject company and the nature of such financial interest;
(b) EWL or its associates or relatives, have no actual/beneficial ownership of one per cent. or more in the securities of the subject company, at the end of the month immediately preceding the date of publication of the research report or date of the public appearance;
(c) EWL or its associate or his relative, has no other material conflict of interest at the time of publication of the research report or at the time of public appearance;
2. Compensation
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) EWL or its associates have not managed or co-managed public offering of securities for the subject company in the past twelve months;
(c) EWL or its associates have not received any compensation for investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(d) EWL or its associates have not received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(e) EWL or its associates have not received any compensation or other benefits from the Subject Company or third party in connection with the research report.
3 In respect of Public Appearances
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) The subject company is not now or never a client during twelve months preceding the date of distribution of the research report and the types of services provided by EWL