Morning-Outlook-Feature-Image

Morning-outlook-29novNIFTY:

The NIFTY opened at 18430.50 with a gap down of 82 points. The index initially moved higher after recording its intraday low at 18365.60 in its initial trades. Prices have filled the gap quickly, then consolidate, and then broke on the upside. A sharp rally came and prices went above 18600 to record its intraday high at 18614.25. The index spends the second half moving sideways and finally closed at 18562.75 near its day highs with a gain of 50 points or 0.27% up. OIL GAS outperformed today and ended with a gain of 1.60% followed by AUTO which ended with a gain of 0.61%. METAL underperformed today and closed with a loss of 1.14%. Stay long with a stop at 18450 and a target at 18780. The short-term trend is up, and the index has broken out from a range inside 18100 – 18500. This breakout is giving us a pattern target around 18900 which may or may not reach but still suggesting us a bullishness in the markets.

BANK NIFTY:

The BANK NIFTY opened at 42757.20 with a gap down of 204 points. The index initially moved higher after recording its intraday low at 42740. Prices have filled the gap and then moved further up to record its intraday high at 43159.80. The index then saw a mild correction and finally closed at 42983.75 with a gain of just 22 points. PSU and PVT BANKS both indices have performed almost the same today and closed with a gain of 0.20% & 0.27% respectively. Within the index, in terms of points, AXIS BANK contributed the highest on the upside while HDFC BANK contributed the lowest. We took a long trade around 42700. Stay long with a stop at 42700 and a target at 43900. A gap-down opening did not sustain today and prices have seen a mild intraday rally. The index recorded a trend day today on the upside. The short-term trend is up as prices are trading near its lifetime highs. Support is now visible around 42000. A close below this support may change the short-term trend to sideways. We should look for a buying opportunity only as far as prices are trading above this support level.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE
BAJAJ FINSERVE 1652.85 BUY The stock has given a breakout on the intraday as well as the daily chart. The stock can be bought at above 1658 with a stop loss of 1639 and a target of 1693.
 BHARTI AIRTEL 837.40 SELL The stock has given a breakdown on the intraday as well as the daily chart. The stock can be sold at CMP with a stop loss of 842 and a target of 827.50.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
UPL 780 CE BUY 23.95 CMP 21 30 BREAKOUT
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
APOLLOTYRE.22.12 Dec 314.65 6.26 34.11 19582500 SBIN.22.12 Dec 608.95 -0.01 3.81 58824000
HINDPETRO.22.12 Dec 240.8 5.57 7.64 21370500 GNFC.22.12 Dec 613.1 -0.03 3.45 5972200
BPCL.22.12 Dec 343 4.83 3.55 20010600 PVR.22.12 Dec 1873 -0.03 0.89 2782659
DELTACORP.22.12 Dec 233.1 4.53 13.83 19441900 ICICIGI.22.12 Dec 1167.4 -0.04 3 4581925
IBULHSGFIN.22.12 Dec 144.5 3.55 8 47616000 ASTRAL.22.12 Dec 1911.9 -0.06 3.57 1187175
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
MFSL.22.12 Dec 687.9 2.6 -1.64 5310500 JINDALSTEL.22.12 Dec 512.4 -2.59 -0.03 23976250
ATUL.22.12 Dec 8425.75 2.08 -2.99 124200 PFC.22.12 Dec 135.55 -1.67 -3.8 47349400
LUPIN.22.12 Dec 738.8 1.63 -1.13 6341850 NMDC.22.12 Dec 117.65 -1.55 -2.04 27520250
BSOFT.22.12 Dec 300.8 1.62 -4.44 9098700 SAIL.22.12 Dec 82.8 -1.49 -1.09 105396000
BANDHANBNK2212Dec 224.8 1.51 -2.72 55305000 GAIL.22.12 Dec 93.2 -1.11 -0.19 53875200

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Coromandel International 916.3 -0.44 385908 0 78.38 Nifty50 18562.75 0.27 72168
Icici Prudential Life In 455.15 0.67 5206760 0 77.9 Niftybank 43020.45 0.08 72171
Icici Bank Ltd. 936.25 0.64 9381344 0 73.98 Nifty it 30309.65 -0.08 72171
Marico Limited 486.45 0.04 2225265 0 73.39 India Vix 13.56 1.76 72171
Voltas Ltd. 839.4 1.21 2003739 0 72.99 Nifty Fmcg 44251.05 0.34 72171
Sun Pharma  Ltd 1037 0.3 1427577 0 72.86 Nifty Pharma 12993.95 0.2 72171
Sbi Life Insurance Compa 1253.5 1.48 1073250 0 71.66 Nifty Realty 445.2 0.07 72171
Oracle Fin Serv Soft Ltd 3093.1 1.43 133579 0 70.75 Nifty Auto 13036.4 0.61 72171
Ntpc Limited 170.4 0.38 5471688 0 66.25 Nifty Metal 6381.35 -1.14 72171
Whirlpool 1519.7 0.55 109897 0 65.78 Nifty Financial Services 19200.2 -0.09 72171

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: Infrastructure Output (YoY) (Oct) on 30th  November, 2022

INR: GDP Quarterly (YoY) (Q2) on 30th  November, 2022

 USD: CB Consumer Confidence (Nov)  on 29th November, 2022

USD: GDP (QoQ) (Q3) on 30th November, 2022

NEWS UPDATES

  • Indian benchmark indices ended on positive note on November 28 with Sensex, Nifty finishing at record closing levels.At Close, the Sensex was up 211.16 points or 0.34% at 62,504.80, and the Nifty was up 50 points or 0.27% at 18,562.80. About 2024 shares have advanced, 1458 shares declined, and 185 shares are unchanged.

  • Aditya Birla Group’s “house of brands” venture TMRW on November 28 announced partnerships with eight digital-first lifestyle labels.

  • Arvind Smartspaces (ASL), the real estate developer, on November 28 announced that its wholly-owned subsidiary Arvind Homes has launched and sold the entire first phase of its residential plotting project, Arvind Greatlands in Devanahalli, Bengaluru on November 26. Post the news, shares of Arvind Smartspaces rose over 8 percent intra-day to trade at Rs 281.50 apiece on BSE amid the Indian stock market witnessing a record-high rally in Sensex, Nifty 50, and Nifty Bank.

  • Overseas investors have stepped up their return to Indian equities, helping power benchmarks gauges to record highs and derivatives data signals more room for the rally.

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

BOARD MEETINGS

Company Name Purpose Meeting Date Company Name Purpose Meeting Date
ALANKIT General;Preferential Issue of shares 29-Nov-22 KPIGREEN Bonus issue;General 30-Nov-22
COMSYN General 29-Nov-22 LELAVOIR General 30-Nov-22
DDIL General 29-Nov-22 QUINT General;Rights Issue 30-Nov-22
IMCAP Preferential Issue of shares 29-Nov-22 SIKOZY General 30-Nov-22
JCTLTD Quarterly Results 29-Nov-22 SINDHUTRAD General 30-Nov-22
LANDMARC General 29-Nov-22 AML General 01-Dec-22
PHARMAID General;Preferential Issue of shares 29-Nov-22 EASEMYTRIP General 01-Dec-22
RANJEET Increase in Authorised Capital;Preferential Issue of shares 29-Nov-22 NAVODAYENT Bonus issue 01-Dec-22
RCF Interim Dividend 29-Nov-22 PRUDMOULI General 01-Dec-22
SBIN General 29-Nov-22 STL Stock  Split 01-Dec-22
SYMBIOX General 29-Nov-22 VEERENRGY Bonus issue;General 01-Dec-22
TIHIL Increase in Authorised Capital;Issue Of Warrants;Preferential Issue of shares 29-Nov-22 JOINDRE General 02-Dec-22
TRADWIN Quarterly Results 29-Nov-22 SABTN General 03-Dec-22
WELCURE Increase in Authorised Capital;Preferential Issue of shares 29-Nov-22 GUJTLRM Preferential Issue of shares 05-Dec-22
DECNGOLD General 30-Nov-22 DECCAN General 07-Dec-22
DHARFIN Quarterly Results 30-Nov-22 TAKE Quarterly Results 07-Dec-22
EIGHTY General 30-Nov-22 YASHINNO Scheme of Arrangement 08-Dec-22
GLCL A.G.M. 30-Nov-22 AKASHDEEP Stock  Split 12-Dec-22
ICL Stock  Split 30-Nov-22 ESHAMEDIA A.G.M. 12-Dec-22
JANUSCORP Bonus issue 30-Nov-22 COFORGE Interim Dividend;Quarterly Results 20-Jan-23

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ALSTONE 29-Nov-22 E.G.M. GUJTHEM 02-Dec-22 Interim Dividend – Rs. – 4.4000
NAVODAYENT 29-Nov-22 Bonus issue 1:1 LIKHITHA 02-Dec-22 Stock  Split From Rs.10/- to Rs.5/-
SHRIRAMCIT 29-Nov-22 Amalgamation MEFCOMCAP 02-Dec-22 Stock  Split From Rs.10/- to Rs.2/-
VEDL 29-Nov-22 Interim Dividend – Rs. – 17.5000 SDBL 02-Dec-22 Interim Dividend – Rs. – 0.2500
CHANDRAP 30-Nov-22 Stock  Split From Rs.10/- to Rs.2/- PANCHSHEEL 05-Dec-22 Interim Dividend – Rs. – 0.8000
MLKFOOD 30-Nov-22 Interim Dividend – Rs. – 2.5000 TRIVENIGQ 06-Dec-22 E.G.M.
SECURCRED 30-Nov-22 E.G.M. ADVAIT 07-Dec-22 E.G.M.
RAJOIL 01-Dec-22 E.G.M. HGS 07-Dec-22 Interim Dividend – Rs. – 5.0000
ADCON 02-Dec-22 Right Issue of Equity Shares TELESYS 14-Dec-22 E.G.M.

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