The NIFTY opened at 18719.55 with a gap up of just 23 points. The index initially moved down after recording its intraday high at 18728.60 a few ticks above the opening price. A sharp decline came in the first hour of trading and prices recorded its intraday low at 18591.35. The index then bounced up and came close to the early morning highs but was not able to cross above. The NIFTY then started range bound trading which lasted till the end and the index finally closed at 18701.05 near its day’s high with a gain of just 4.95 points or 0.03% up. METAL outperformed today and closed with a gain of 1.87% followed by REALTY and BANK which ended with a gain of over half percent. IT underperformed today and ended with a loss of 0.52%. The NIFTY recorded its lifetime high at 18887.60 and then started moving down. The last swing low has been recorded at 18365.60.  We should wait for the one and till then avoid trading the index for carry forward trades.


The BANK NIFTY opened at 43269.35 with a gap up of 171 points. The index first moved down, filled the gap, and fall further to record its intraday low at 42985. Prices found support there and bounced up sharply. A modest rally came which lasted till the end. Prices have recorded its intraday high at 43372.5 and finally closed at 43321.30 with a gain of 223 points. PSU BANKS have outperformed today and closed with a gain of 1.20%. PVT BANKS have also moved up today and ended with a gain of 0.60% within the index, in terms of points, SBIN contributed the highest on the upside while AXIS BANK contributed the lowest. The short-term trend is still up. However, prices have been moving inside a narrow range. Since the range is very narrow inside the 42740 – 43340 zones, it should see a breakout soon one way or the other. Strong Support is 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.


GAIL 93.15 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 with a  stop loss of 92.95 and for the target of 93.7.
METRO POLISH 1451.35 SELL The stock is on the verge of giving a breakdown on the intraday as well as the daily chart. The stock can be sold below 1444.8 with a  stop loss of 1457.4 and for the target of 1419.55.


Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
DLF 420 CE BUY 14.65 CMP 11.35 19.90 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
M&MFIN.22.12 Dec 242.85 5.66 16.72 21248000 BHEL.22.12 Dec 88.35 -3.44 5.82 100989000
PEL.22.12 Dec 912.95 5.32 14.7 6073650 DALBHARAT.22.12 Dec 1892.15 -2.9 1.97 1291500
ABCAPITAL.22.12 Dec 159.2 4.36 8.19 37945800 TVSMOTOR.22.12 Dec 1022 -2.6 2.02 7438900
HINDALCO.22.12 Dec 483.1 4.16 13.13 21416150 HINDPETRO.22.12 Dec 231.55 -2.44 4.74 22482900
MANAPPURAM.22.12 Dec 124.7 3.7 6.17 39012000 GUJGASLTD.22.12 Dec 510 -1.86 0.73 5157500
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
IBULHSGFIN.22.12 Dec 147.5 2.68 -1.95 43492000 PERSISTENT.22.12 Dec 4285.05 -2.2 -9.95 471300
DELTACORP.22.12 Dec 235.2 2.26 -1.02 16258700 IDEA.22.12 Dec 8.25 -1.79 -0.37 510090000
PNB.22.12 Dec 55.5 2.12 -1.02 208960000 ICICIGI.22.12 Dec 1227.65 -1.42 -0.29 3852200
COALINDIA.22.12 Dec 232.9 1.97 -3.89 29479800 COFORGE.22.12 Dec 4189 -1.3 -3.25 585000
L&TFH.22.12 Dec 93.85 1.9 -0.51 60361936 LUPIN.22.12 Dec 774.5 -0.93 -1.81 6231350


Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Mahindra & Mahindra Fina 241.15 5.31 17008391 0 30.04 Nifty50 18701.05 0.03 103584
Aditya Birla Capital Lim 158.65 4.58 18326577 0 33 Niftybank 43332.95 0.53 103515
Hindalco Ind Ltd. 481.2 4.36 14599958 0 32.1 Nifty it 30891.5 -0.52 103515
Piramal Enterprises 896.25 4.25 3472292 0 22.27 India Vix 13.73 2.1 103800
Manappuram Finance Limit 123.7 3.6 24534022 0 30.77 Nifty Fmcg 45151.15 -0.01 103515
Tata Steel Limited 115.85 3.44 96441799 0 48.35 Nifty Pharma 13052.9 -0.26 103515
Federal Bank Ltd. 137.3 3.04 14401826 0 44.22 Nifty Realty 466.55 0.69 103515
National Alum Co Ltd 80.2 2.82 27249138 0 37.77 Nifty Auto 13007.55 -0.3 103515
Ibulhsgfin 146.6 2.66 15640318 0 25.4 Nifty Metal 6819.75 1.87 103515
Delta Corp Limited 234.2 2.54 5956549 0 34.91 Nifty Financial Services 19297.3 0.25 103515


   Domestic                                                                                                                                                  International
INR: Interest Rate Decision on 7th December, 2022

INR: RBI MPC Meeting Minutes on 7th December, 2022

 USD: Crude Oil Inventories on 7th  December, 2022

USD: Initial Jobless Claims on 8th  December, 2022


  • Indian benchmark indices ended on flat note in the volatile session on December 5.At Close, the Sensex was down 33.90 points or 0.05% at 62,834.60, and the Nifty up 4.90 points or 0.03% at 18,701. About 2080 shares have advanced, 1401 shares declined, and 191 shares are unchanged.

  • Vodafone chief executive Nick Read is stepping down as chief executive of the group after four years in the top job, the telecoms group said Monday in a surprise announcement.

  • Dabur India on December 5 announced the resignation of Krishan Kumar Chutani, chief executive officer (CEO) of Dabur International. Raghav Agrawal will take over Chutani’s role.

  • Shriram Transport Finance Company, the largest financier of commercial vehicles, and Shriram City Union Finance, the largest two-wheeler financer and leader in micro, small and medium enterprise (MSME) lending, have been merged to form Shriram Finance

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


Company Name Purpose Meeting Date Company Name Purpose Meeting Date
ARYAN General 06-Dec-22 RLFL General 07-Dec-22
BIKAJI General;Quarterly Results 06-Dec-22 SHAWGELTIN Interim Dividend 07-Dec-22
GRAUWEIL General 06-Dec-22 TAKE Quarterly Results 07-Dec-22
INTECH General 06-Dec-22 CAPFIN General 08-Dec-22
LELAVOIR General 06-Dec-22 MFSINTRCRP Quarterly Results 08-Dec-22
MAGANTR General 06-Dec-22 YASHINNO Scheme of Arrangement 08-Dec-22
MARKOLINES Right Issue of Equity Shares 06-Dec-22 ARISE General 09-Dec-22
MAXHEIGHTS General;Stock  Split 06-Dec-22 KCLINFRA Right Issue of Equity Shares;Rights Issue 09-Dec-22
PHARMAID General 06-Dec-22 SCC General 09-Dec-22
PTC Quarterly Results 06-Dec-22 VGUARD General 09-Dec-22
STARHFL General 06-Dec-22 VLL General 09-Dec-22
WARDINMOBI General 06-Dec-22 AGARWAL General 10-Dec-22
ACEMEN A.G.M.;Right Issue of Equity Shares;Increase in Authorised Capital;General;Preferential Issue of shares 07-Dec-22 QGO General 10-Dec-22
BRFL Quarterly Results 07-Dec-22 AKASHDEEP Stock  Split 12-Dec-22
CENTEXT General 07-Dec-22 ESHAMEDIA A.G.M. 12-Dec-22
DECCAN General 07-Dec-22 SHREESEC Stock  Split 16-Dec-22
FRSHTRP Buy Back of Shares 07-Dec-22 PIFL General 21-Dec-22
LUMAXIND General 07-Dec-22 COFORGE Interim Dividend;Quarterly Results 20-Jan-23


Company Name Ex-Date Purpose Company Name Ex-Date Purpose
TRIVENIGQ 06-Dec-22 E.G.M. COSMOFIRST 13-Dec-22 Buy Back of Shares
ADVAIT 07-Dec-22 E.G.M. TELESYS 14-Dec-22 E.G.M.
HGS 07-Dec-22 Interim Dividend – Rs. – 5.0000 BAROEXT 15-Dec-22 E.G.M.
ALKALI 08-Dec-22 E.G.M. RCF 15-Dec-22 Final Dividend – Rs. – 2.5000
APTUS 08-Dec-22 Interim Dividend – Rs. – 2.0000 RCF 15-Dec-22 Interim Dividend – Rs. – 1.6000
BLS 08-Dec-22 Bonus issue 1:1 GLOSTERLTD 16-Dec-22 Bonus issue 1:1
CANFINHOME 08-Dec-22 Interim Dividend – Rs. – 1.5000 PRECWIRE 22-Dec-22 Bonus issue 1:2
VALENCIA 12-Dec-22 E.G.M. NATHIND 23-Dec-22 E.G.M.

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