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Morning-Outlook-Elite

NIFTY:

Nifty opened at 17890.55 without much of a gap, Initially, prices went up for the first 10 minutes of trading and recorded its intraday high at 17945.60, the index could not sustain there long and started drifting downwards, prices have seen a sharp decline of more than 150 points from its intraday high to record its intraday low at 17688.50, prices spent the afternoon session moving sideways and then a relief rally started in the second half, the rally stopped quickly and prices went down again in the last 30 minutes of trading and finally closed at 17764.80 with a loss of 133.85 or 0.75% down. All the sectoral indices have seen a decline today and ended with a loss. The Auto, Metal and media sector have led the bears today and ended with a loss of more than 2%, banks ended on a flat note.

Prices have been moving down for the last few trading days This decline should stop at some point and then prices will find support there, if the index close below 17600 then a pattern of bearish head & shoulder will confirm and then will give us a much lower target, prices don’t need to reach there but that will change the overall bias bearish. So the summary is to wait for price to hold 17600 support or wait for a relief rally.   .

BANK NIFTY:

Bank Nifty opened at 38071.90 with a gap up of 65 points, the index Rallied further, recorded its intraday high at 38233.95 and then saw a sharp decline, prices then consolidated recorded its intraday low at 37748.45 and then rallied again, the rally fizzled out before reaching the morning high, saw a minor correction in the last 30 minutes of trading and finally closed at 37941.95 with a loss of 65 points.PSU Banks have seen an outperformance today and closed with marginal gain.

Lower closing streak continued for the fourth trading day, the short term trend is still on the downside. Bank Nifty continued trading volatile and closed with marginal loss prices have moved very randomly today saw plenty of up and down . We have mentioned  a support around 38000 and prices are now trading around this level from last two trading day . In fact a zone inside 37500-38000 is a strong support zone in the index we should wait for prices to find support.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE
GODREJPROP 2177 SELL The stock is on the verge of giving the breakdown on the intraday as well as the daily chart. The stock can be sell below 2170  with a stop loss of  2190 and for the target of  2100.
JSW STEEL 651 SELL The  immediate trend of the script is bearish. There is a negative cross over of moving averages  as well as of the indicators  therefore  it can be sell below  with a stop loss of  660 and target   of  625.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
FEDERALBANK 105 CE BUY 4 CMP 2.8 7 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
PNB 207.25 11.28 5.14 29698900 RECLTD.Nov 25 136.05 -1.73 0.73 38982000
ESCORTS 1581 10.41 2.47 3954000 GMRINFRA.Nov 25 39.25 -1.63 0.78 1.28E+08
HDFC BAK 289.05 5.9 14.08 11182600 IPCALAB.Nov 25 2038.2 -0.9 4.7 2921850
SBIN 431 4.71 2.05 40177500 ICICIPRULI.Nov 25 640.9 -0.5 0.14 3710250
ABFRL 102.6 4 2.86 1.02E+08 FINNIFTYW.Nov 23 18580 -0.24 37.5 440
                                                                        Short Covering                                                                       Long Unwinding
ESCORTS.Nov 25 1801.45 10.16 -44.16 4088700 ESCORTS.Nov 25 1801.45 10.16 -44.16 4088700
CHAMBLFERT.Nov 25 365.2 2.89 -7.08 768000 CHAMBLFERT.Nov 25 365.2 2.89 -7.08 768000
PNB.Nov 25 41.7 2.58 -38.57 1.67E+08 PNB.Nov 25 41.7 2.58 -38.57 1.67E+08
SRF.Nov 25 2190.25 1.52 -6.4 3215625 SRF.Nov 25 2190.25 1.52 -6.4 3215625
GRANULES.Nov 25 305.85 1.16 -3.99 12434100 GRANULES.Nov 25 305.85 1.16 -3.99 12434100

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Crompton Greaves Consume 451.3 -1.56 644215 280879 79.33 Nifty Next 50 43615.45 -1.41 1441259
Max Financial Services l 949.9 0.14 603082 384579 78.07 Nifty 500 15302.55 -0.99 4555213
Icici Lombard General In 1512.35 -1.09 598304 412841 77.55 Nifty 50 17764.8 -0.75 40340522
Infosys Limited 1779.4 -0.45 4326924 3096489 75.36 Nifty 100 18059.5 -0.83 18227402
Hcl Technologies Ltd. 1120.2 -2.8 5384530 3465588 74.9 Nifty Bank 37976.25 -0.17 18908202
Ipca Laboratories Ltd. 2077.15 -0.95 638644 389116 70.35 Nifty it 36007 -1.78 1248751
Hdfc Ltd. 2925.4 -0.78 3481704 2583517 70.33 Nifty Midcap 50 8735 -1.69 14105885
Hindustan Unilever Ltd 2399.4 0.35 1236943 821900 69.99 Nifty Midcap 100 31271.4 -1.44 5024230
Dabur India Ltd. 608.75 0.12 841689 535931 69.54 India Vix 14.86 -0.8 4.73E+08
Icici Bank Ltd. 762.9 0.21 20644385 14256159 66.28 Nifty Energy 23794.35 -0.18 1778705

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: Deposit Growth and Loan Growth on 26th November, 2021

INR: FX Reserves, USD on 26th November, 2021

•USD: Existing Home Sales (Oct) on 22nd November, 2021

•USD: GDP (QoQ) (Q3) on 24th November, 2021

NEWS UPDATES

•ABB Power Products & Systems India on Friday announced its rebranding as Hitachi Energy India Ltd. “Following the recent rebranding of its parent company to Hitachi Energy, its operations in India today announced their evolution to Hitachi Energy India Limited’, reaffirming their commitment to accelerating the clean energy transition in India,” a company statement said.

•The Indian Railway Catering and Tourism Corporation (IRCTC) is looking to increase its earnings from ticketing as the pandemic restriction on the number of trains has eased. More tickets are likely to be booked on its platform since over-the-counter sale of tickets remained restricted. IRCTC officials said booking of tickets through its platform was already beyond pre-pandemic levels. “There were close to 1.4 million tickets being booked daily during the peak season before Chhath Puja and Diwali, which sees more passengers.

•The pandemic has fast-tracked the sale of fast-moving consumer goods products through online channels and most companies have seen their share from the e-commerce channel double in the last 18 months. However, the government’s draft policy on e-commerce companies has forced consumer companies to also adapt to the changes.

•Billionaire Mukesh Ambani-led Reliance Industries Ltd (RIL) and Saudi Aramco on Friday decided to re-evaluate the proposed Investment by Aramco in the oil-to-chemical (O2C) business in light of the Indian firm’s new energy forays.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
TIGERLOGS Interim Dividend 22-Nov-21 SPELS Quarterly Results 23-Nov-21
CORPOCO Quarterly Results 23-Nov-21 MNPLFIN General 24-Nov-21
DUGARHOU General 23-Nov-21 SAMINDUS General 24-Nov-21
GNRL General 23-Nov-21 SEACOAST General 24-Nov-21
NARBADA Preferential Issue of shares 23-Nov-21 SIEMENS Audited Results;Final Dividend 24-Nov-21
PQIF Increase in Auth. Capital;Stock  Split 23-Nov-21 VERITAS Quarterly Results 24-Nov-21
QUANTBUILD A.G.M.;General 23-Nov-21 ALPHA Quarterly Results 25-Nov-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ESTER 22-Nov-21 Interim Dividend – Rs. – 1.40 IPCALAB 22-Nov-21 Interim Dividend – Rs. – 8.00
GABRIEL 22-Nov-21 Interim Dividend – Rs. – 0.5500 IRCON 22-Nov-21 Interim Dividend – Rs. – 0.70
GLS 22-Nov-21 Interim Dividend – Rs. – 10.50 JAMNAAUTO 22-Nov-21 Interim Dividend – Rs. – 0.50

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