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Morning-Outlook-25-Elite-Wealth

NIFTY:

Nifty opened at 17550.05 with a gap up of 47 points, Initially prices went down for the first five minutes of trading filled the gap down and then started moving on the upside, the rally soon found resistance around 17600 level, prices spent first half moving sideways and made numerous attempts to break 17600 but failed to do so and ultimately failed. A sharp decline started in the second half brought prices to its intraday low at 17354, the index finally closed at 17415.05 near its day low with a loss of 88.30 points or 0.50% down. IT and Auto led the bear today while Metal and Realty ended on flat note.
Recent swing low around 17300 should now act as a support zone, the index continued trading in a wide range day signifying choppy and sideways movement ahead, fresh trading opportunity will emerge when nifty closes to a resistance or support levels, moreover if prices form a range here then we will have to wait for a breakout as well , As of now we should avoid trading the index. The short term trend is down and volatility is high.

BANK NIFTY:

Bank Nifty opened at 37384.75 with a gap up of 127 points, the index initially moved down and recorded its intraday low at 37238.05, prices then start moving up and recorded its intraday high at 37891.90, the index have seen a sharp decline afterward come close to its early morning low and finally closed at 37346.70 with a gain of 89 points, Private and PSU bank both performed the same today , both indices have seen a rally and ended with again of 0.47% and 0.34% respectively, within the index, in term of points ICICI Bank contributed the highest while SBIN contributed the lowest .

Intraday movement are very volatile today and prices continued trading in a wide range , these wide range bars will eventually lead prices to choppy and narrow environment soon and we may see a process of consolidation. We have mentioned support around 37000 prices are holding support as of now , a strong resistance is now at 38500, we are advising trader to avoid the index.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE
ZEEL 334 BUY The stock is on the verge of giving the breakdown on the intraday as well as the daily chart. The stock can be buy  with a stop loss of 327 and for the target of  345.
MARUTI 7669 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 7640 with a stop loss of  7690 and target  of  7550.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
ICICIBANK 760 CE BUY 3 CMP 1 6 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
ZEEL.Nov 25 333.9 6.98 0.25 36975000 MINDTREE.Nov 25 4630 -3.94 1.1 659600
ICICIGI.Nov 25 1489.85 2.21 27.56 2047650 PIDILITIND.Nov 25 2250.75 -3.9 27.13 1500500
ADANIENT.Nov 25 1743.55 1.96 9.35 10995000 CHOLAFIN.Nov 25 588 -3.03 22.78 6300000
NTPC.Nov 25 135.35 1.35 2.11 23729100 ICICIPRULI.Nov 25 597 -3 1.13 1605000
BPCL.Nov 25 403.1 1.26 5.18 14227200 EICHERMOT.Nov 25 2523 -2.98 10.45 3530100
                                                                        Short Covering                                                                       Long Unwinding
ADANIPORTS.Nov 25 758.9 4.24 -6.21 16871250 LTTS.Nov 25 5185 -3.97 -2.5 273400
ONGC.Nov 25 152.85 4.09 -22.38 15199800 IRCTC.Nov 25 859 -3.84 -7.21 5479500
CHAMBLFERT.Nov 25 379.25 3.35 -1.72 427500 BSOFT.Nov 25 482.45 -3.61 -26.75 1398800
LAURUSLABS.Nov 25 502.8 3.19 -0.93 2289600 ABBOTINDIA.Nov 25 19116.7 -3.29 -6.15 18325
TORNTPOWER.Nov 25 551.2 2.88 -9.8 1077000 SRF.Nov 25 2128.35 -3.11 -18.3 1141250

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Infosys Limited 1696 -2.35 7333061 0 74.86 Nifty 50 17415.05 -0.5 82734
Trent Limited 1095.75 -1.45 1045914 0 74.09 Nifty Bank 37441.95 0.45 82734
Hdfc Ltd. 2883.55 -0.79 2318225 0 72.8 Nifty it 34966.25 -1.52 82734
Hindustan Unilever Ltd 2374.75 -0.81 999070 0 70.31 Nifty Energy 23650.05 0.27 82734
Axis Bank Limited 685.15 -0.07 11463429 0 70.17 Nifty Fmcg 38178.2 -0.99 82731
Container Corp Of India 629.1 -1.35 860804 0 69.05 Nifty Mnc 19167.45 -0.98 82734
Atul Ltd. 8574.25 -0.88 29739 0 68.7 Nifty Pharma 13408.1 -0.61 82734
Bajaj Auto Limited 3407.1 -0.81 287005 0 68.14 Nifty Pse 4020.15 0.75 82734
Indian Oil Corp. Ltd. 127.6 1.15 8101605 0 67.91 Nifty Services Sector 24667.8 -0.11 82734
Hcl Technologies Ltd. 1119.45 0.62 2675632 0 67.84 Nifty Realty 515.65 -0.07 82737

UPCOMING ECONOMIC DATA

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

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

•USD: Pending Home Sales (MoM) (Oct) on 29th November, 2021

NEWS UPDATES

  • The Dani family, one of the promoters of India’s largest paint firm, Asian Paints, has come under fire from proxy advisory firm, InGovern after the latter pointed out several related party transactions between Asian Paints and Paladin Paints and Chemicals, a private company owned by the Danis. “The lack of detailed disclosure and intent of procuring such a high percentage from companies, including Paladin, that are owned by promoters of Asian Paints is strange.
  • Indian Overseas Bank (IOB) and Central Bank of India today informed the exchanges that there has been no information regarding the reported privatisation of the Banks. The central government will introduce the Banking Laws (Amendment) Bill 2021 in the Winter Session of Parliament. The proposed legislation is among the list of 26 bills that are scheduled to be introduced during the session.
  • Larsen & Toubro (L&T) on Wednesday said it has entered into a pact with the Tamil Nadu government to establish a data centre in the state. L&T will establish 90 MW capacity data centres and associated units in a phased manner in Kanchipuram over the next five years. The company envisages to employ around 1,100 people — 600 direct and 500 indirect — in the project.
  • Hinduja Group flagship Ashok Leyland has put in place a team to focus on alternate fuel technology that uses low carbon like CNG and LNG as part of its move towards building a green mobility future, the company said on Wednesday.
Source: Economic Times,  Indian Express  ,Business Today, Livemint, Business Standard, Bloomberg Quint

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ALPHA Quarterly Results 25-Nov-21 PADALPO Quarterly Results 25-Nov-21
AREYDRG General; Preferential Issue of shares 25-Nov-21 SHIVAMAUTO Rights Issue 25-Nov-21
GETALONG General 25-Nov-21 VISAGAR Bonus issue;In. in Auth. Cap. 25-Nov-21
ISMTLTD Preferential Issue of shares 25-Nov-21 VISIONCO General 25-Nov-21
JSTL General 25-Nov-21 WANBURY Quarterly Results 25-Nov-21
KIRLFER General 25-Nov-21 MYSPAPE A.G.M. 26-Nov-21
KOVAI Quarterly Results 25-Nov-21 TPINDIA Quarterly Results 26-Nov-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ABANSENT 25-Nov-21 Interim Dividend – Rs. – 0.1000 KSCL 25-Nov-21 Interim Dividend – Rs. – 4.00
BHARATFORG 25-Nov-21 Interim Dividend – Rs. – 1.5000 NILE 25-Nov-21 Interim Dividend – Rs. – 1.00
CUPID 25-Nov-21 Interim Dividend – Rs. – 1.00 NUCLEUS 25-Nov-21 Buy Back of Shares
INDAG 25-Nov-21 Interim Dividend – Rs. – 0.9000 PANAMAPET 25-Nov-21 Interim Dividend – Rs. – 2.00
KIOCL 25-Nov-21 Interim Dividend – Rs. – 0.9800 PGFOILQ 25-Nov-21 Interim Dividend – Rs. – 2.00

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