Morning-Outlook-Feature-Image

Outlook-11-11-2021

NIFTY:

Nifty opened at 17973.45 with a gap down of 71 points, the index first consolidated and recorded its intraday low at 17915,that consolidation broke on the upside in the afternoon, prices have seen a rally and the index recorded its intraday high at 18061.25.However the index didn’t sustain there long and again fell on the downside. Prices have spent the last half an hour moving sideways and finally closed at 18017.20 with a loss of just 27.05 points or 0.15% down. All the sector indices have closed lower today except Auto and Pharma .Metal and Realty led the bear today, ending with a loss of more than 1% followed by the banks that ended nearly 1% lower.The index is now hovering 18000 levels, this acted as support and resistance previously and that makes it important level to watch out for, moreover the index is developing a bearish pattern of head & shoulder.We have to wait and see how prices are behaving , a close above 18150 will cancel the pattern.

BANK NIFTY:

Bank Nifty opened at 39206.20 with a gap down of 195 points, the index recorded its intraday high at 39220.30 and then fell further on the downside for the next half an hour , prices have recorded its intraday low at 38873.80 and then spent rest of the day moving narrow and sideways, the index finally closed at 39022.80 with a loss of 379 points PSU banks have underperformed today and ended with a loss of 2.35%, private bank have seen a decline today and finally closed with a loss of 0.95%,within the index in terms of points Axis bank contributed the highest while HDFC Bank contributed the lowest.

It was again a volatile day in the index where prices have moved randomly in both the direction and finally ended with loss, we have been tracking the pattern of bearish head & shoulder with the neckline around 39300.Prices have closed below the neckline today this confirmed the patter which is giving a downside pattern target at 37300. The short term trend is now on the downside.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE
APOLLO HOSPITAL 4548 BUY The stock is on the verge of giving the breakout on the intraday as well as the daily chart. The stock can be bought above 4550 with a stop loss of  4490 and for the target of  4700.
RELIANCE 2533 BUY The  immediate trend of the script is bullish. There is a positive cross over of moving averages  as well as of the indicators therefore  it can be bought above 2540  with a stop loss of  2520 and target   of  2580.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
RELIANCE 2600 CE BUY 32 CMP 23 47 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
IDEA.Nov 25 10.55 7.11 5.18 7.71E+08 PIIND.Nov 25 2785.95 -7.57 30.12 1663250
RBLBANK.Nov 25 219.3 6.87 21.02 32010200 TATASTEEL.Nov 25 1319 -3.72 6.42 40971275
M&M.Nov 25 908 5.14 23.89 14001400 AARTIIND.Nov 25 960.5 -3.08 7.65 3802900
BSOFT.Nov 25 439 4.84 70.08 1965600 GSPL.Nov 25 315.8 -3.02 13.27 406300
IBULHSGFIN.Nov 25 245.7 4.84 16.63 36530400 JINDALSTEL.Nov 25 421 -2.87 3.46 38230000
                                                                        Short Covering                                                                       Long Unwinding
ABFRL.Nov 25 307.9 6.12 -3.37 11044800 TATACONSUM.Nov 25 836.45 -0.37 -0.89 9443250
ADANIENT.Nov 25 1639 4.3 -3.41 24912000 GODREJPROP.Nov 25 2443.95 -0.61 -1.63 1902225
POLYCAB.Nov 25 2489.25 4.13 -2.22 886200 HINDPETRO.Nov 25 344.35 -0.68 -2.43 16497000
BANDHANBNK.Nov 25 308.95 4.04 -1.28 22843800 ICICIPRULI.Nov 25 652.4 -0.81 -0.35 4068000
ESCORTS.Nov 25 1578 3.97 -1.96 9070600 NIFTY.Nov 25 18078.35 -0.24 -3.14 10240000

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Hdfc Bank Ltd. 1572.25 -1.75 6347738 0 78.29 Nifty 50 18044.25 -0.13 95514
Hindustan Unilever Ltd 2431.15 -0.03 1696949 0 76.55 Nifty Bank 39368.8 -0.18 95514
Hdfc Asset Management Co 2672.9 0.34 287046 0 74.17 Nifty it 35815.1 0.09 95514
Hcl Technologies Ltd. 1172.8 -0.85 3565461 0 73.92 India Vix 16 -2.07 95514
Sbi Cards And Payment Se 1083.05 -1.84 1822776 0 73.81 Nifty Energy 24004.3 0.27 95514
Reliance Industries Ltd 2521.7 0.79 7237470 0 71.85 Nifty Fmcg 38964.25 -0.33 95511
Icici Lombard General In 1508.9 -0.13 332602 0 71.72 Nifty Mnc 19632.65 -0.09 95511
Axis Bank Limited 745.05 -0.8 12120207 0 71.61 Nifty Pharma 13878.7 0.2 95511
Atul Ltd. 8831.35 -0.05 20776 0 71.24 Nifty Pse 4179.05 0.03 95511
Hero Motocorp Limited 2714.35 1.17 723569 0 70.49 Nifty Services Sector 25295.7 -0.32 95511

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: Industrial Production YoY SEP on 12th November, 2021

INR: CPI Inflation Rate YoY OCT on 12th November, 2021

•USD: JOLTs Job Openings (Sep) on 12th November, 2021

NEWS UPDATES

•Dragged by the price erosion in the US market, Alembic Pharmaceuticals Limited has posted a fall of nearly 50 per cent in its net profit for the second quarter ended September 30, 2021. The company registered a net profit of Rs 169.29 crore for the said quarter, as compared to Rs 333.37 crore in the corresponding period last year. The company’s revenue from operations too fell by 11 per cent to Rs 1,292.32 crore in Q2 of FY22, as against Rs 1,457.10 crore in Q2 of FY21.

•Strides Pharma saw its revenue for the September quarter drop 8 per cent year-on-year to Rs 736 crore as Covid-led manufacturing disruptions and other headwinds in the US hurt sales. The pharma company’s profit after tax plunged 27 per cent to Rs 85 crore in Q2 of FY22 compared to Rs 117 crore in the year-ago period

•Bank of Baroda (BoB) on Wednesday reported a standalone net profit of ₹2,087.85 crore, up 24%, for the quarter ended 30 September 2021.  The higher bottom line was mainly due to health growth in non interest income. Net Interest Income (NII) of the bank increased to ₹7,566 crore during the quarter as against ₹7,410 crore in last year period, registering a growth 2.11%.

•Indian digital healthcare platform PharmEasy has filed for an initial public offering (IPO) of up to 62.50 billion rupees ($842.43 million), becoming the latest startup in the country to pursue a domestic stock listing. The company provides health services ranging from teleconsultation to radiology tests to home delivery of medical products and devices.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ACRYSIL Quarterly Results 11-Nov-21 IFCI Quarterly Results 11-Nov-21
APOLLO Quarterly Results;General 11-Nov-21 JBMA Quarterly Results 11-Nov-21
AUROLAB Quarterly Results;General 11-Nov-21 MATRIMONY Quarterly Results 11-Nov-21
BAJAJHIND Quarterly Results 11-Nov-21 MAYURUNIQ Quarterly Results 11-Nov-21
BALKRISIND Quarterly Results;Interim Dividend 11-Nov-21 NATCOPHARM Quarterly Results;Interim Dividend 11-Nov-21
BALPHARMA Quarterly Results 11-Nov-21 NDTV Quarterly Results 11-Nov-21
BDL Quarterly Results 11-Nov-21 NHPC Quarterly Results 11-Nov-21
BIRLATYRES Quarterly Results 11-Nov-21 NMDC Quarterly Results 11-Nov-21
CESC Quarterly Results 11-Nov-21 PAGEIND Quarterly Results;Interim Dividend 11-Nov-21
EASEMYTRIP Interim Dividend 11-Nov-21 PEL Quarterly Results 11-Nov-21
ENDURANCE Quarterly Results 11-Nov-21 POWERMECH Quarterly Results 11-Nov-21
ENGINERSIN Quarterly Results 11-Nov-21 PTC Quarterly Results 11-Nov-21
FDC Quarterly Results 11-Nov-21 RAILTEL Quarterly Results 11-Nov-21
GODREJCP Quarterly Results 11-Nov-21 SOLARA Quarterly Results 11-Nov-21
GUJTHEM Quarterly Results;Interim Dividend 11-Nov-21 SOMANYCERA Quarterly Results 11-Nov-21
HAL Quarterly Results;Interim Dividend 11-Nov-21 SUNTECK Quarterly Results;General 11-Nov-21
HERANBA Quarterly Results 11-Nov-21 TATASTEEL Quarterly Results;General 11-Nov-21
HINDCOMPOS Quarterly Results 11-Nov-21 V2RETAIL Quarterly Results 11-Nov-21
HUDCO Quarterly Results 11-Nov-21 WIMPLAST Quarterly Results 11-Nov-21
IBULHSGFIN Quarterly Results;General 11-Nov-21 ZEEL Quarterly Results 11-Nov-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
AKSCHEM 11-Nov-21 Buy Back of Shares BELLACASA 11-Nov-21 Interim Dividend – Rs. – 1.00
BANARBEADS 11-Nov-21 Interim Dividend – Rs. – 2.00 BHAGCHEM 11-Nov-21 Interim Dividend – Rs. – 1.00
BAYERCROP 11-Nov-21 Special Dividend – Rs. – 125.00 BPCL 11-Nov-21 Interim Dividend – Rs. – 5.00

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