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 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.


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.


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


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


   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


•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


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


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

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