NARROW AND VOLATILE TRADING CONTINUED FOR YET ANOTHER SESSION

NIFTY:

The NIFTY opened at 19457.40 with a gap up of just 14 points. The index moved down in its initial trades for the first five minutes of trading and then started moving sideways. That sideways movement continued for over half the day and eventually broke on the downside. However, prices did not move much lower and saw a mild down move towards the end. In this process, the Index recorded first its intraday high at 19463.90, then its intraday low at 1937835, and finally closed at 19395.30 with a loss of 48.20 points or 0.25% down. The REALTY sector outperformed today and closed with a gain of 1.23% followed by AUTO FMCG and OIL GAS underperformed today and closed with a loss of nearly 1% followed by IT. Look to buy above 19500 or sell short below 19300. The short-term trend is up and the index is moving narrowly. Take trade in the direction of a breakout.

BANK NIFTY:

The BANK NIFTY opened at 43626.10 with a gap down of just 20 points. The index initially moved lower for the first five minutes of trading and then bounced up sharply after recording its intraday low at 43542.65. Prices have seen a rally afterward and then a minor dip in the afternoon after recording its intraday high at 43876.75. Prices have finally closed at 63695.90 with a gain of 49 points. PSU BANK has underperformed today, saw a mild downside move, and closed with a loss of 0.20%. PVT BANK has outperformed today, saw a mild upside move, and closed with a gain of 0.19% Within the index, in terms of points, INDUSIND BANK contributed the highest on the upside while HDFC BANK contributed the lowest. The short-term trend is up. Support is visible around 42500 while resistance is visible around 44000

TECHNICAL PICKS

DERIVATIVE PICKS

Top Delivery Percentage

Upcoming Economic Data

News Updates

• Benchmark indices ended on a negative note in the volatile session on November 9 with Nifty at 19,400. At close, the Sensex was down 143.41 points or 0.22 percent at 64,832.20, and the Nifty was down 48.20 points or 0.25 percent at 19,395.30. About 1588 shares advanced, 1979 shares declined, and 123 shares unchanged.

• Hospital chain Apollo Hospitals Ltd on November 9 reported a 14.2 percent year-on-year (YoY) increase in net profit at Rs 233 crore for the July-September quarter. The company reported a net profit of Rs 204 crore in the same period a year ago. The hospital operator reported better-than-expected revenue at Rs 4,846.9 crore, reflecting a 14 percent YoY rise. The company had a revenue of Rs 4,251.1 crore in the same quarter previous year.

• Adani Ports And Special Economic Zone on November 9 reported a consolidated net profit of Rs 1747.85 crore for the September quarter, registering a growth of 4.19 percent from the year-ago period. Profits were lower as the company had to write off Rs 455 crore past MAT credit on election of new tax regime. Its revenue from operations came in at Rs 6,646.41 crore, up 27.55 percent from the corresponding quarter of the previous fiscal, the Adani Group company said in an exchange notification.

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

Board Meetings

Corporate Action

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 www.elitewealth.in. 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)

Kiran Tahlani, Elite Wealth Limited, kirantahlani@elitestock.com

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 www.elitewealth.in.

Company-Specific Disclosures

Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting https://www.elitewealth.in, or e-mailing research@elitestock.com 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 research@elitestock.com.

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 https://www.elitewealth.in

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: www.elitewealth.in

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
2. 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

Provided that research analyst or research entity shall not be required to make a disclosure as per sub-clauses (c), (d) and (e) of clause (ii) or sub-clauses (a) and (b) of clause (iii) to the extent such disclosure would reveal material non-public information regarding specific potential future investment banking or merchant banking or brokerage services transactions of the subject company.
(4) EWL or its proprietor has never served as an officer, director or employee of the subject company;
(5) EWL has never been engaged in market making activity for the subject company;
(6) EWL shall provide all other disclosures in research report and public appearance as specified by the Board under any other regulations.