The NIFTY opened at 17910.20 with a gap-up of 124 points. The index continued moving higher after recording its intraday low at 17899.90 in its initial trades. The rally continued for the whole day and prices kept on rising at a mild pace. Minor dip sin between were bought quickly and the index crossed above the 18000 hurdles. The index recorded its intraday high at 18022.80 and finally closed at 18012.20 near its daily highs with a gain of 225.40 points or 1.27% up. All the sectoral indices have closed higher today. AUTO, IT, OIL GAS led the bulls today by closing more than 1% higher. METAL and MEDIA underperformed today as they gained the least. The NIFTY has been moving in a tight and narrow range. This narrow range has seen a breakout and the index ended above 18000 resistance. A follow-through on the upside may confirm this breakout. The short-term trend is up and we should look for buying only as long as prices are moving above immediate support around 17800.


The BANK NIFTY opened at 41265.70 with a gap up of 231 points. The index recorded its intraday high at 41353.60 in its initial trades and started moving on the downside. Prices found support quickly and then went into a process of consolidation after recording their intraday low at 41106.10. The index kept on moving within these two levels for the rest of the day and finally closed at 41314.90 with a gain of 280 points. PSU and PVT BANKS both indices have performed almost the same today, saw an upside move, and closed higher by 0.64% & 0.37% respectively. Within the index, in terms of points, HDFCBANK contributed the highest on the upside while BANDHAN BANK contributed the lowest. For today, we have suggested trade in the direction of a breakout: buy above 41500 or sell short below 40900 with a stop of 300 points and a target of 800 points. Prices did not cross either level this trade did not execute. We are recommending the same trade for tomorrow. Look for a buying opportunity on a breakout above 41500 or a shorting opportunity on a breakdown below 40800. In case of a gap beyond these levels follow the first 15 minutes rule. Keep a stop of 300 points and a target of 800 points. It was a narrow-range day today in the BANK Index where prices have moved inside a narrow range of just 247points. The short-term trends are up and will be up as far as prices are trading above 39500 support. The only visible resistance is at around 41840 which is also the lifetime high. Moreover, the index is moving very narrowly for the last five trading days. These narrow movements suggest a sharp move is about to come.


RAIN IND. 167.30 BUY The stock is on the verge of giving a breakout on the intraday as well as the daily chart. The stock can be bought at CMP with a stop loss of 166.50 and a target of  169.50.
TATA CHEM 1132.80 SELL The stock has given the breakdown on the intraday as well as the daily chart. The stock can be sold at 1128.40 with a stop loss of 1141.15 and for a target of 1108.80.


Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
GAIL 92 (CE) BUY 2.40 CMP 1.85 3.50 BREAKOUT
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
JKCEMENT.22.11 Nov 2725 5.29 14.69 410000 INTELLECT.22.11 Nov 435.45 -13.47 86.09 3140250
INDIAMART.22.11 Nov 4583.85 5.08 6.78 247950 BANDHANBNK.22.11Nov 240.85 -9.51 48.94 40509000
TRENT.22.11 Nov 1534 4.9 9.39 4551550 LICHSGFIN.22.11 Nov 406.25 -3.97 17.17 16012000
METROPOLIS.22.11Nov 1682.4 4.77 19.23 755100 SRTRANSFIN.22.11 Nov 1217 -2.44 4.4 3754800
DALBHARAT.22.11 Nov 1606.25 4.24 8.78 1369500 M&MFIN.22.11 Nov 200.65 -2.12 16.31 20996000
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
MINDTREE.22.11 Nov 3423 3.8 -0.92 2656600 RBLBANK.22.11 Nov 136 -1.48 -0.12 48450000
LTTS.22.11 Nov 3534.4 3.62 -1.93 1026200 HINDALCO.22.11 Nov 406 -0.17 -0.3 27793050
JUBLFOOD.22.11 Nov 617 3.43 -0.81 10855000
COFORGE.22.11 Nov 3785.8 3.3 -2.28 650700
ACC.22.11 Nov 2403.5 3.11 -0.53 3971000


Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Hdfc Ltd. 2469.8 2.89 3167940 0 76.27 Nifty50 18012.2 1.27 75642
Tata Consultancy Serv Lt 3193.15 0.95 1919179 0 72.89 Niftybank 41307.9 0.77 75642
Hdfc Asset Management Co 2074.6 0.26 104552 0 72.27 Nifty it 28727.6 1.45 75642
Itc Ltd. 348.7 0.84 13823898 0 72.27 India Vix 15.8 -0.74 75642
Britannia Ind Ltd. 3766.55 -0.3 198317 0 68.45 Nifty Fmcg 44296.3 0.8 75642
Colgate Palmolive (india 1631.75 0.45 285620 0 67.92 Nifty Pharma 13212.25 1.26 75642
Tata Consumer Products l 770.15 1.16 997794 0 67.62 Nifty Realty 438.65 0.57 75642
Icici Lombard General In 1169.95 0.48 829498 0 67.4 Nifty Auto 13381.65 1.45 75642
Sbi Life Insurance Compa 1265.95 1.05 539051 0 67.31 Nifty Metal 5896.35 0.22 75642
Marico Limited 524.55 1.08 1483034 0 66.74 Nifty Financial Services 18538.3 1.39 75642


   Domestic                                                                                                                                                  International
INR: Nikkei S&P Global Manufacturing PMI (Oct) on 1st November, 2022

INR: FX Reserves, USD on 2nd November, 2022

 USD: JOLTs Job Openings (Sep) on 1st November, 2022

USD: ISM Manufacturing PMI (Oct) on 1st November, 2022


  • Benchmark indices ended higher for the third consecutive day on October 31 with Nifty reclaiming 18,000 mark.At Close, the Sensex was up 786.74 points or 1.31% at 60,746.59, and the Nifty was up 225.40 points or 1.27% at 18,012.20. About 1788 shares have advanced, 1657 shares declined, and 164 shares are unchanged.

  • Union Minister Rajeev Chandrasekhar on Monday announced that an Electronics Manufacturing Cluster will be developed in Ranjangaon, Maharashtra, at a cost of Rs 500 crore.The Electronics Manufacturing Cluster (EMC) is targeted to attract an investment of over Rs 2,000 crore, with a potential to generate thousands of jobs in the coming years.

  • Shares of Intellect Design Arena cracked in early trade on October 31 hitting a 52 week low after a weak September quarter saw the firm’s margin contract 10 percent.

  • For the first time since the implementation of the monetary policy framework in 2016, the Reserve Bank will submit a report to the government on its failure to keep the retail inflation rate below 6% for three consecutive quarters beginning January 2022

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


Company Name Purpose Meeting Date Company Name Purpose Meeting Date
ADANIPORTS Quarterly Results 01-Nov-22 NEXTMEDIA Quarterly Results 01-Nov-22
CHAMBLFERT Quarterly Results 01-Nov-22 NYKAA Quarterly Results 01-Nov-22
CHOLAFIN Quarterly Results 01-Nov-22 PHOTON Quarterly Results 01-Nov-22
CMSINFO Quarterly Results 01-Nov-22 PNB Quarterly Results 01-Nov-22
DAICHI Quarterly Results 01-Nov-22 PRUDENT Quarterly Results 01-Nov-22
DHANUKA Quarterly Results 01-Nov-22 SAHYADRI General;Quarterly Results 01-Nov-22
DUNCANENG Quarterly Results 01-Nov-22 SAURASHCEM Quarterly Results 01-Nov-22
EIHAHOTELS Quarterly Results 01-Nov-22 SICAGEN Quarterly Results 01-Nov-22
ELANTAS Quarterly Results 01-Nov-22 SUDTIND-B General 01-Nov-22
GENPHARMA General 01-Nov-22 SUNPHARMA Quarterly Results 01-Nov-22
GEOJITFSL General;Quarterly Results 01-Nov-22 SWASTIKA Quarterly Results 01-Nov-22
INDORAMA Quarterly Results 01-Nov-22 TATAINVEST Quarterly Results 01-Nov-22
JKTYRE Quarterly Results 01-Nov-22 TECHM Audited Results;Interim Dividend 01-Nov-22
KABRAEXTRU Quarterly Results 01-Nov-22 TIMEX Preferential Issue of shares;Quarterly Results 01-Nov-22
KANSAINER Quarterly Results 01-Nov-22 TNPETRO General;Quarterly Results 01-Nov-22
KTKBANK Quarterly Results 01-Nov-22 UPL Quarterly Results 01-Nov-22
LICHSGFIN General;Quarterly Results 01-Nov-22 VANDANA General;Quarterly Results 01-Nov-22
LODHA General;Quarterly Results 01-Nov-22 VBL Quarterly Results 01-Nov-22
LYNMC Quarterly Results 01-Nov-22 VOLTAS Quarterly Results 01-Nov-22
MAXHEALTH General;Quarterly Results 01-Nov-22 VSSL Quarterly Results 01-Nov-22
NETLINK General;Quarterly Results 01-Nov-22 WHIRLPOOL Quarterly Results 01-Nov-22


Company Name Ex-Date Purpose Company Name Ex-Date Purpose
BSOFT 01-Nov-22 Interim Dividend – Rs. – 1.5000 MANAS 04-Nov-22 E.G.M.
HINDUNILVR 01-Nov-22 Interim Dividend – Rs. – 17.0000 PGHH 04-Nov-22 Final Dividend – Rs. – 65.0000
KPEL 01-Nov-22 Interim Dividend – Rs. – 0.2000 TCIEXP* 04-Nov-22 Interim Dividend
NACLIND 01-Nov-22 Interim Dividend – Rs. – 0.3000 TFL 04-Nov-22 Right Issue of Equity Shares
NAM-INDIA 01-Nov-22 Interim Dividend – Rs. – 4.0000 RECLTD 07-Nov-22 Interim Dividend – Rs. – 5.0000
RKFORGE 01-Nov-22 Interim Dividend – Rs. – 0.5000 SPLPETRO 07-Nov-22 Interim Dividend – Rs. – 4.0000
ROUTE 01-Nov-22 Interim Dividend – Rs. – 3.0000 SUPREMEIND 07-Nov-22 Interim Dividend
SHREDIGCEM 01-Nov-22 Interim Dividend – Rs. – 1.5000 IMAGICAA 09-Nov-22 E.G.M.
STEELCAS 01-Nov-22 Interim Dividend – Rs. – 1.3500 PUNITCO 09-Nov-22 Bonus issue 5:1
ATUL 02-Nov-22 Special Dividend – Rs. – 7.5000 TECHM 09-Nov-22 Interim Dividend
HAPPSTMNDS 02-Nov-22 Interim Dividend – Rs. – 2.0000 DAAWAT 10-Nov-22 Interim Dividend
APOLLOTRI 03-Nov-22 Amalgamation DALBHARAT 10-Nov-22 Interim Dividend
CFEL 03-Nov-22 Stock  Split From Rs.10/- to Rs.5/- GILLETTE 10-Nov-22 Final Dividend – Rs. – 36.0000
COFORGE 03-Nov-22 Interim Dividend – Rs. – 13.0000 SHAREINDIA 10-Nov-22 Interim Dividend
DABUR 03-Nov-22 Interim Dividend – Rs. – 2.5000 SSWL 10-Nov-22 Stock  Split From Rs.5/- to Rs.1/-
GARFIBRES 03-Nov-22 Buy Back of Shares GMM 11-Nov-22 Interim Dividend
IMFA 03-Nov-22 Interim Dividend – Rs. – 5.0000 SAMOR 11-Nov-22 Right Issue of Equity Shares
LAURUSLABS 03-Nov-22 Interim Dividend – Rs. – 0.8000 SIYSIL 11-Nov-22 Interim Dividend
NAVINFLUOR 03-Nov-22 Interim Dividend – Rs. – 5.0000 AMRUTANJAN 14-Nov-22 Interim Dividend
TCI 03-Nov-22 Interim Dividend EPL 14-Nov-22 Interim Dividend
VAIBHAVGBL 03-Nov-22 Interim Dividend – Rs. – 1.5000 NICCOPAR 14-Nov-22 Interim Dividend
VIPIND 03-Nov-22 Interim Dividend – Rs. – 2.5000 POWERGRID 14-Nov-22 Interim Dividend
ALLSEC 04-Nov-22 Interim Dividend – Rs. – 20.0000 PGHL 15-Nov-22 Final Dividend – Rs. – 11.5000
CRISIL 04-Nov-22 Interim Dividend – Rs. – 10.0000 MRF 17-Nov-22 Interim Dividend
DHANBANK 04-Nov-22 E.G.M. PAGEIND 17-Nov-22 Interim Dividend
KKCL 04-Nov-22 Interim Dividend – Rs. – 3.0000 EMAMILTD 18-Nov-22 Interim Dividend

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