The NIFTY opened at 18398.25 without much of a gap. The index initially moved lower and then found intraday support around 18350. Prices have bounced up afterwards. A rally took prices above 18400 and prices found intraday resistance around 18450. The index could not cross this resistance and turn down after recording its intraday high at 18442.15. A deadline brought prices below the early morning low but again found support there and recorded its intraday low at 18344.15. The index finally closed at 18409.65 with a gain of 6.25 points or 0.03% up. BANK, FINANCIAL and IT outperformed today and ended with minor gains. REALLY underperformed today and closed lower by more than 1%. FMCG continued ending on a flat note. As we have mentioned, the short-term trend is up and there is no doubt about it as prices are trading near the swing highs. However, the index is locked inside a narrow range for the past four trading days. A narrow trading range is now visible inside 18250 – 18450. This 200 points range is very narrow so it may break very soon. Volatility is very low despite a sharp spike today as the INDIA VIX, a benchmark index for volatility, is now moving around level 15. Traders should look for a buying opportunity on a breakout above 18500 or sell short on a breakdown below 18200. Keep a stop of 80 points and a target of 240 points from your entry price. In case of a gap apply the first 15-minute rule.


The BANK NIFTY opened at 42371.80 with a gap down of just 59 points. The index moved further down and soon found support. Prices have bounced up sharply after recording its intraday low at 42296.30. The index went above 42500 and recorded its intraday high at 42611.75. Prices then moved sideways and finally closed at 42498.95 with a gain of 68 points. PVT and PSU BANKS both performed almost the same today, saw an upside move, and finally closed with a gain of 0.26% & 0.29% respectively. Within the index, in terms of points, KOTAK BANK contributed the highest on the upside while FEDERAL BANK contributed the lowest. BANK NIFTY a gain ended almost on a flat note with minor gains. Moreover, the index continued trading narrowly. The intraday movement was a gain very volatile. The short-term trend is up and the index has continued recording lifetime new highs but failed to move higher with strong momentum. For the past four trading days, the index is hovering inside a narrow range of almost 700 points. This narrow range suggests a sharp move is about to come. Traders should look for a buying opportunity above 42700 or a shorting opportunity below 42000. Keep a stop of 300 points and a target of 1200 points. In case of a gap apply the first 15 minutes rule.


LT 2003.6 BUY The stock has given a breakout on the intraday as well as the daily chart. The stock can be bought at CMP with a stop loss of 1995 and a target of 2020.
 IBULHSGFIN 124.25 SELL The stock has given a breakdown on the intraday as well as the daily chart. The stock can be sold at 123.80 with a stop loss of 129.3 and a target of 112.95.


Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
LT 2020 CE BUY 22.70 CMP 15.75 37 BREAKOUT
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
HAL.22.11 Nov 2668 5.99 8.81 4147700 METROPOLIS.22.11 Nov 1444 -7.76 46.52 967500
KOTAKBANK.22.11 Nov 1970.3 2.5 0.95 22612800 APOLLOTYRE.22.11 Nov 277.45 -7.39 26.35 20727000
HONAUT.22.11 Nov 40190 1.56 3.17 26340 AARTIIND.22.11 Nov 671.2 -5.36 54.17 2402100
BEL.22.11 Nov 109.15 1.39 2.65 79845600 SAIL.22.11 Nov 82.7 -4.67 0.66 94932000
BALRAMCHIN.2211Nov 352.95 1.32 3.39 9622400 MUTHOOTFIN.22.11 Nov 1079.7 -3.75 1.7 7474125
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
COALINDIA.22.11 Nov 236.1 1.18 -5.28 31714200 IBULHSGFIN.22.11 Nov 123.9 -7.4 -2.25 36912000
AMARAJABAT.2211Nov 636.05 0.98 -0.69 6802000 DELTACORP.22.11 Nov 219 -4.2 -6.47 17068300
MPHASIS.22.11 Nov 2040.55 0.79 -1.59 2062725 RAIN.22.11 Nov 174.6 -3.8 -0.77 10776500
PNB.22.11 Nov 44.4 0.68 -1.63 224192000 GSPL.22.11 Nov 245.05 -3.6 -0.43 5815000
ABFRL.22.11 Nov 316.65 0.64 -1.56 12142000 MFSL.22.11 Nov 655 -3.49 -1.96 2562950


Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Hindustan Aeronautics Li 2681.15 6.28 4971448 0 0 Nifty50 18409.65 0.03 83787
Kotak Mahindra Bank Limi 1965.9 2.8 6437651 0 0 Niftybank 42535.3 0.38 83787
Honeywell Auto India Ltd 40048.5 1.77 5796 0 0 Nifty it 29951.5 0.29 83787
Dalmia Bharat Limited 1707.85 1.68 578329 0 0 India Vix 15.1 3.14 83787
Amara Raja Batt Ltd 637.25 1.63 2587883 0 0 Nifty Fmcg 43910.3 0 83787
Balrampur Chini Mills 352.8 1.51 6049786 0 0 Nifty Pharma 12998.5 -0.29 83787
Lic Housing Finance Ltd 380.7 1.47 3529955 0 0 Nifty Realty 448.15 -1.03 83787
Tvs Motor Company Limite 1118.5 1.39 2034541 0 0 Nifty Auto 13105.95 -0.38 83787
Crompton Greaves Consume 371.65 1.27 1578294 0 0 Nifty Metal 6461.6 -1.94 83787
Coalindia 234.9 1.18 9764275 0 0 Nifty Financial Services 19148.35 0.34 83787


   Domestic                                                                                                                                                  International
INR: Deposit Growth on 18th  November, 2022

INR: FX Reserves, USD on 18th  November, 2022

 USD: Initial Jobless Claims on 17th  November, 2022

USD: Building Permits (Oct) on 17th  November, 2022


  • Indian benchmark indices ended on flat note in the volatile session on November 16.At Close, the Sensex was up 107.73 points or 0.17% at 61,980.72, and the Nifty was up 6.30 points or 0.03% at 18,409.70. About 1394 shares have advanced, 2011 shares declined, and 115 shares are unchanged.
  • Keystone Realtors, which runs the real estate brand Rustomjee, had a muted response for its initial public offering even on its final day of bidding on November 16. The issue has received bids for 1.71 crore shares against an IPO size of 86.47 lakh shares, subscribing 1.99 times on Wednesday.
  • Bikaji Foods International Ltd. listed at Rs 321.05 apiece on the BSE Ltd., a premium of 7.05% to its IPO price of Rs 300 apiece. On the National Stock Exchange of India Ltd., the stock debuted at Rs 324.60, a 8.20% premium.
  • India’s financials are positioned positively compared to other Asian emerging markets such as Korea and Taiwan, Jonathan Garner, Chief Asia and Emerging Market equity strategist at Morgan Stanley, said in an interview with CNBC-TV18.
Source: Economic Times,  Indian Express, Business Today, Livemint, Business Standard, Bloomberg Quint


Company Name Purpose Meeting Date Company Name Purpose Meeting Date
FEDDERELEC Quarterly Results 17-Nov-22 TRL Issue Of Warrants;General 18-Nov-22
FISCHER General;Quarterly Results 17-Nov-22 VKAL Quarterly Results 18-Nov-22
POOJA General 17-Nov-22 MLKFOOD Interim Dividend 19-Nov-22
RONI Right Issue of Equity Shares;General 17-Nov-22 RHIM General;Preferential Issue of shares 19-Nov-22
SEACOAST General 17-Nov-22 ARIHANTINS Half Yearly Results 21-Nov-22
ALAN SCOTT Right Issue of Equity Shares 18-Nov-22 COSPOWER Half Yearly Results;General 21-Nov-22
BI Quarterly Results 18-Nov-22 TRIVENIGQ General 21-Nov-22
BRFL Quarterly Results 18-Nov-22 UNIWSEC Quarterly Results 21-Nov-22
FRONTFN Quarterly Results 18-Nov-22 SIEMENS Audited Results;Final Dividend 22-Nov-22
INDINFO Right Issue of Equity Shares 18-Nov-22 TRINITYLEA Preferential Issue of shares 22-Nov-22
JAYSHREETEA General;Scheme of Arrangement 18-Nov-22 MDRNTHR-B Quarterly Results 23-Nov-22
KHYATI Reduction of Capital 18-Nov-22 VEERHEALTH Preferential Issue of shares 23-Nov-22
OONE General;Quarterly Results 18-Nov-22 7NR Scheme of Arrangement 25-Nov-22
RAMASTEEL Bonus issue;General 18-Nov-22 WANBURY Quarterly Results 28-Nov-22
SDBL Interim Dividend;General 18-Nov-22 ICL Stock  Split 30-Nov-22
SELLWIN General 18-Nov-22 STL Stock  Split 01-Dec-22
TIRTPLS Quarterly Results 18-Nov-22 ESHAMEDIA A.G.M. 12-Dec-22


Company Name Ex-Date Purpose Company Name Ex-Date Purpose
BAYERCROP 17-Nov-22 Interim Dividend – Rs. – 100.0000 EASEMYTRIP 21-Nov-22 Stock  Split From Rs.2/- to Rs.1/-
DHANUKA 17-Nov-22 Buy Back of Shares MAZDOCK 21-Nov-22 Interim Dividend – Rs. – 9.1000
ESSENTIA 17-Nov-22 Right Issue of Equity Shares NATCOPHARM 21-Nov-22 Interim Dividend – Rs. – 0.7500
GABRIEL 17-Nov-22 Interim Dividend – Rs. – 0.9000 OIL 21-Nov-22 Interim Dividend – Rs. – 4.5000
IRFC 17-Nov-22 Interim Dividend – Rs. – 0.8000 ONGC 21-Nov-22 Interim Dividend – Rs. – 6.7500
MRF 17-Nov-22 Interim Dividend – Rs. – 3.0000 PETRONET 21-Nov-22 Special Dividend – Rs. – 7.0000
ORIENTCQ 17-Nov-22 Interim Dividend – Rs. – 7.0000 PRAVEG 21-Nov-22 Final Dividend – Rs. – 4.0000
PAGEIND 17-Nov-22 Interim Dividend – Rs. – 70.0000 TIDEWATER 21-Nov-22 Interim Dividend – Rs. – 12.0000
PDSL 17-Nov-22 Interim Dividend – Rs. – 2.5000 ASMTEC 22-Nov-22 Interim Dividend – Rs. – 1.0000
QUESS 17-Nov-22 Interim Dividend – Rs. – 8.0000 CONCOR 22-Nov-22 Interim Dividend – Rs. – 3.0000
RITES 17-Nov-22 Interim Dividend – Rs. – 4.5000 EIDPARRY 22-Nov-22 Interim Dividend – Rs. – 5.5000
SAKSOFT 17-Nov-22 Interim Dividend – Rs. – 0.3500 GESHIP 22-Nov-22 Interim Dividend – Rs. – 7.2000
SUNDRMFAST 17-Nov-22 Interim Dividend – Rs. – 3.5700 IPCALAB 22-Nov-22 Interim Dividend – Rs. – 4.0000
SUNDRMFAST 17-Nov-22 Special Dividend – Rs. – 2.0000 MANAPPURAM 22-Nov-22 Interim Dividend – Rs. – 0.7500
VIDHIING 17-Nov-22 Interim Dividend – Rs. – 0.4000 MORGANITE 22-Nov-22 Interim Dividend – Rs. – 9.0000
ASTRAL 18-Nov-22 Interim Dividend – Rs. – 1.2500 PGIL 22-Nov-22 Interim Dividend – Rs. – 2.5000
BARTRONICS 18-Nov-22 Resolution Plan -Suspension HINDZINC 23-Nov-22 Interim Dividend
DATAINFRA 18-Nov-22 Income Distribution (InvIT) INDTONER 23-Nov-22 Interim Dividend – Rs. – 3.5000
EMAMILTD 18-Nov-22 Interim Dividend – Rs. – 4.0000 MAHSEAMLES 23-Nov-22 Bonus issue 1:1
ESABINDIA 18-Nov-22 Interim Dividend – Rs. – 30.0000 MINDTREE 23-Nov-22 Amalgamation
GPPL 18-Nov-22 Interim Dividend – Rs. – 2.7000 PANAMAPET 23-Nov-22 Interim Dividend – Rs. – 3.0000
HAL 18-Nov-22 Interim Dividend – Rs. – 20.0000 BHARATFORG 24-Nov-22 Interim Dividend – Rs. – 1.5000
INDAG 18-Nov-22 Interim Dividend – Rs. – 0.9000 CUPID 24-Nov-22 Interim Dividend – Rs. – 2.0000
LAOPALA 18-Nov-22 Interim Dividend – Rs. – 2.0000 DIAMINESQ 24-Nov-22 Interim Dividend – Rs. – 3.0000
MAANALU 18-Nov-22 Interim Dividend – Rs. – 1.0000 JMFINANCIL 24-Nov-22 Interim Dividend – Rs. – 0.9000
MINDSPACE 18-Nov-22 Income Distribution RITES PFC 24-Nov-22 Interim Dividend – Rs. – 3.0000
MSTC 18-Nov-22 Interim Dividend – Rs. – 5.5000 POLYPLEX 24-Nov-22 Interim Dividend – Rs. – 20.0000
NAUKRI 18-Nov-22 Interim Dividend – Rs. – 10.0000 POLYPLEX 24-Nov-22 Special Dividend – Rs. – 35.0000
ORBTEXP 18-Nov-22 Buy Back of Shares ABANSENT 25-Nov-22 Interim Dividend – Rs. – 0.1000
PPAP 18-Nov-22 Interim Dividend – Rs. – 1.0000 DEVIT 25-Nov-22 Stock  Split From Rs.10/- to Rs.5/-
STANCAP 18-Nov-22 E.G.M. GOLECHA 25-Nov-22 Interim Dividend – Rs. – 1.0000
SUNTV 18-Nov-22 Interim Dividend – Rs. – 3.7500 MAFATIND 25-Nov-22 Stock  Split From Rs.10/- to Rs.2/-
VENUSPIPES 18-Nov-22 Interim Dividend – Rs. – 0.5000 MANAKSIA 25-Nov-22 Interim Dividend – Rs. – 3.0000
 MANINFRA 21-Nov-22 Interim Dividend – Rs. – 0.9000 NILE 25-Nov-22 Interim Dividend – Rs. – 2.0000
3MINDIA 21-Nov-22 Special Dividend – Rs. – 850.0000 PREMCO 25-Nov-22 Interim Dividend – Rs. – 2.0000
BALKRISIND 21-Nov-22 Interim Dividend – Rs. – 4.0000 FAMILYCARE 28-Nov-22 Interim Dividend – Rs. – 0.0500
BELLACASA 21-Nov-22 Interim Dividend – Rs. – 0.7000 ALSTONE 29-Nov-22 E.G.M.
COCHINSHIP 21-Nov-22 Interim Dividend – Rs. – 7.0000 CHANDRAP 30-Nov-22 Stock  Split From Rs.10/- to Rs.2/-
EASEMYTRIP 21-Nov-22 Bonus issue 3:1 PANCHSHEEL 05-Dec-22 Interim Dividend – Rs. – 0.8000


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