MARKET LENS 11692 Intraday Pic BIOCON Resistance 11973 Intraday Pick BATAINDIA 12038 Intraday Pick WIPRO
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Institutional Equity Research NIFTY 11909 IN FOCUS November 05, 2020 Support 11800 Stock in Focus Cea Sanitaryware MARKET LENS 11692 Intraday Pic BIOCON Resistance 11973 Intraday Pick BATAINDIA 12038 Intraday Pick WIPRO EQUITY INDICES Indices Absolute Change Percentage Change Domestic Last Trade Change 1-D 1-Mth YTD BSE Sensex 40,616 355 0.9% 2.6% (1.6%) CNX Nifty 11,909 95 0.8% 2.1% (2.1%) S&P CNX 500 9,765 68 0.7% 1.5% (1.1%) SENSEX 50 12,477 102 0.8% 1.8% (2.0%) International Last Trade Change 1-D 1-Mth YTD DJIA 27,848 368 1.3% 0.3% (2.4%) NASDAQ 11,591 430 3.9% 3.9% 29.2% NIKKEI 23,986 290 1.3% 2.4% 1.4% HANGSENG 25,441 555 2.4% 6.2% (9.7%) ADRs / GDRs Last Trade Change 1-D 1-Mth YTD Dr. Reddy’s Lab (ADR) 67.8 1.3 2.0% (2.0%) 67.0% Tata Motors (ADR) 9.3 (0.0) (0.1%) (4.3%) (28.2%) STOCK IN FOCUS Infosys (ADR) 14.7 0.4 2.7% 5.7% 42.3% f Cera sanitaryware - With dominant presence in sanitaryware ICICI Bank (ADR) 12.0 0.0 0.3% 15.5% (20.5%) segment (12% market share) and business interest in allied businesses HDFC Bank (ADR) 61.4 1.3 2.1% 15.3% (3.1%) Axis Bank (GDR) 36.4 0.2 0.6% 16.5% (31.5%) like faucetware, tiles and wellness products, CERA is likely to see Reliance Ind (GDR) 52.1 2.3 4.5% (14.3%) 22.4% healthy traction in ensuing years. Additionally, balanced products portfolio at a varied price points, robust distribution network and rising COMMODITY MARKET brand awareness in Tier-II and Tier-III cities bode well for sustained Key Commodities Last Trade Change 1-D 1-Mth YTD earnings growth. Brent Crude ($/bl) 40.8 (0.5) (1.0%) (4.3%) (38.2%) Silver ($/Oz) 24.2 0.3 1.3% 1.2% 33.8% f Further, lean balance sheet (D/E at 0.1x) and consistent cash generation Gold ($/Oz) 1,909.5 13.3 0.7% 0.1% 23.2% (cumulative FCF in last five years is Rs2.2bn) offer comfort. Whilst 8% Copper LME ($/MT) 3.1 0.0 0.1% 4.8% 10.4% earnings CAGR over FY20-23E does not look to be impressive on Aluminium LME ($/MT) 1,901.3 (6.5) (0.3%) 7.5% 6.3% account of pandemic led slowdown, asset turnover at 1.8x in FY23E vs. average of 2.5x in last five years suggests that CERA can sustain CURRENCY RATES growth momentum at current asset base or low capex. Last Trade Change 1-D 1-Mth YTD USD/INR 74.8 0.27 0.4% 1.6% 4.5% f We have BUY recommendation for the stock with target price of EUR/INR 87.5 0.27 0.3% 0.9% 8.9% Rs3,271. RATES Last Trade Change 1-D 1-Mth YTD Intraday Picks T-Bill - 91 D 3.2 0.01 0.00 (0.03) (0.36) 10 Year G-sec Yield 5.9 (0.01) 0.00 (0.02) 0.00 BIOCON (PREVIOUS CLOSE: 410) BUY For today’s trade, long position can be initiated in the range of Rs 404- INVESTMENT ACTIVITY (RS. CR) 407 for the target of Rs.423 with a strict stop loss of Rs 399. Category BUY SELL NET Prev FII 6,302.8 6,156.6 146.2 2,274.4 BATAINDIA (PREVIOUS CLOSE: 1314) BUY DII 4,428.9 4,437.0 -8.1 (1,100.9) For today’s trade, long position can be initiated in the range of Rs 1300- EXCHANGE TURNOVER 1310 for the target of Rs.1345 with a strict stop loss of Rs 1295. Exchange Rs Crore WIPRO (PREVIOUS CLOSE: 343) BUY BSE Equity 4,135.8 For today’s trade, long position can be initiated in the range of Rs 338-341 BSE Derivatives 1,67,313.9 NSE Equity 56,931.6 for the target of Rs.352 with a strict stop loss of Rs 333. NSE Derivatives 24,97,875.6 1 Institutional Equity Research NIFTY 11909 IN FOCUS November 05, 2020 Support 11800 Stock in Focus Cea Sanitaryware MARKET LENS 11692 Intraday Pic BIOCON Resistance 11973 Intraday Pick BATAINDIA 12038 Intraday Pick WIPRO Technical Research MARKET SYNOPSIS f On Wednesday, NSE-NIFTY witnessed high volatility as the index oscillated between 11,756 and 11,930 levels during the day. Finally, the index closed the day with the gain of 95 points at 11,909 mark. f NSE Cash segment reported turnover of Rs 56,932 crore as compared to Rs 58,091 crore reported earlier. f Overall market breadth remained positive for straight second trading session in a row, where 966 stocks advanced against 876 declined stocks. f Mix trend was observed across sectoral indices during the day, where IT and Pharma emerged as top gainers with the increase of 1.8% and 2.2%, respectively. However Realty index once again emerged as a top loser with the decrease of 1.9%. NSE-NIFTY OUTLOOK f NSE-NIFTY took support around its 20-day EMA post a breakout and continued prior daily rising trend. Yesterday, strength across IT and pharma sectors and recovery in the frontline majors supported the up-move. Overall market breadth remained positive for straight second trading session in a row. Its key technical indicators on the near-term timeframe chart are positively poised. In case the index manages to surpass its psychological hurdle point-12,000 level convincingly, short-term trend will turn in favour of bulls. That could take the index towards 12,250 and 12,430 levels. On the lower side, the index will supports at 11,750 and 11,550 levels. f As for the day, support is placed at around 11,800 and then at 11,692 levels, while resistance is observed at 11,973 and then at 12,038 levels. 2 Institutional Equity Research NIFTY 11909 IN FOCUS November 05, 2020 Support 11800 Stock in Focus Cea Sanitaryware MARKET LENS 11692 Intraday Pic BIOCON Resistance 11973 Intraday Pick BATAINDIA 12038 Intraday Pick WIPRO Derivatives Snapshot f NIFTY50 opened higher and continued to trade with a positive bias and closed near the high point of the day. Nifty closed up by 95 points at 11,908 levels. Among the nifty stocks 33 advanced and 17 declined during the day. f Among sectors it was a mixed bag with IT and Pharma to gain by 2% average while Metals and Realty declined by 0.5% average for the day. f Broader market indices remained positive with NIFTY 100,200 and 500 to close up by 0.7% average while midcap indices and small cap indices gained by 0.6% for the day. f Nifty Nov futures end with 15 points premium at 11,923 mark while on other hand, Bank Nifty Nov futures ended with the premium of 23 points at 25,795 mark. f Nifty has closed above the resistance of 11,900 levels and we can expect the momentum in midcaps and small caps over the next few weeks. Sectoral Activity: Amongst sectoral index, IT and Pharma remained in focus with positive momentum. Stock Activity: Infosys and Sun Pharma have witnessed long build up in today’s trade. TOP 5 PRICE GAINERS Stock Name LTP % Price Chg % Vol Chg %OI Chg Support Pivot Resistance INDUSIND BANK LIMITED 678.05 4.86% 71.39% 7.49% 657 669 690 SUN PHARMACEUTICAL IND L 504.65 3.92% 185.89% -11.00% 494 506 517 APOLLO TYRES LTD 147.90 3.46% 125.29% 24.90% 144 147 151 DIVI’S LABORATORIES LTD 3196.20 3.44% 104.29% 0.77% 3131 3170 3236 SHRIRAM TRANSPORT FIN CO. 788.95 3.42% 39.84% 8.50% 763 778 804 TOP 5 PRICE LOSERS Stock Name LTP % Price Chg % Vol Chg %OI Chg Support Pivot Resistance GODREJ PROPERTIES LTD 978.35 -5.62% -40.45% 27.88% 956 991 1013 UPL LIMITED 401.35 -3.76% 17.27% 25.88% 395 405 412 VEDANTA LIMITED 92.00 -3.00% 83.60% 9.98% 90 93 95 MUTHOOT FINANCE LIMITED 1157.35 -2.76% -20.45% 9.20% 1125 1169 1202 BHEL 27.20 -2.68% 94.66% 8.29% 27 27 28 TOP 5 OI GAINERS Stock NameLTP % Price Chg % Vol Chg %OI Chg Support Pivot Resistance ADANI PORT & SEZ LTD 361.10 2.11% 125.06% 35.79% 351 360 371 PVR LIMITED 1115.95 1.30% 300.33% 35.46% 1085 1138 1168 GODREJ PROPERTIES LTD 978.35 -5.62% -40.45% 27.88% 956 991 1013 UPL LIMITED 401.35 -3.76% 17.27% 25.88% 395 405 412 APOLLO TYRES LTD 147.90 3.46% 125.29% 24.90% 144 147 151 TOP 5 OI LOSERS Stock Name LTP % Price Chg % Vol Chg %OI Chg Support Pivot Resistance DABUR INDIA LTD 518.45 0.59% -26.99% -14.32% 514 522 527 SUN PHARMACEUTICAL IND L 504.65 3.92% 185.89% -11.00% 494 506 517 ESCORTS INDIA LTD 1232.35 -0.18% -60.39% -5.19% 1219 1232 1245 CHOLAMANDALAM IN & FIN CO 293.65 -0.98% -5.70% -5.13% 289 295 300 HERO MOTOCORP LIMITED 2968.00 1.04% -20.57% -4.53% 2926 2952 2994 3 Institutional Equity Research NIFTY 11909 IN FOCUS November 05, 2020 Support 11800 Stock in Focus Cea Sanitaryware MARKET LENS 11692 Intraday Pic BIOCON Resistance 11973 Intraday Pick BATAINDIA 12038 Intraday Pick WIPRO Derivatives Snapshot TOP 5 “RISE IN % DEL CHG” Stock Name LTP % Price Chg % Vol Chg %Del Chg Support Pivot Resistance WIPRO LTD 342.95 2.17% 223.30% 247.12% 336 344 351 DIVI’S LABORATORIES LTD 3196.20 3.44% 104.29% 180.22% 3131 3170 3236 MAX FINANCIAL SERV LTD 613.85 1.86% 29.77% 137.32% 603 610 621 PVR LIMITED 1115.95 1.30% 300.33% 136.58% 1085 1138 1168 CHOLAMANDALAM IN & FIN CO 293.65 -0.98% -5.70% 135.53% 289 295 300 TOP 5 “DECLINE IN % DEL CHG” Stock Name LTP % Price Chg % Vol Chg %Del Chg Support Pivot Resistance UNITED SPIRITS LIMITED 510.45 0.15% -65.39% -85.38% 507 511 514 INTERGLOBE AVIATION LTD 1341.45 -2.10% -69.05% -82.38% 1319 1346 1368 MARICO LIMITED 371.40 0.13% -63.52% -79.34% 368 371 374 ESCORTS INDIA LTD 1232.35 -0.18% -60.39% -78.62% 1219 1232 1245 EICHER MOTORS LTD 2097.40 0.11% -42.51% -77.99% 2070 2097 2125 SECTORAL ACTIVITY Value Average of OI Average of Price Total Average of Total OI Change % Change % Volume Volume Change % AUTO 314018670 2.57% 0.95% 115420185 -3.14% BANKS 1100687100 3.61% 0.45% 415607050 -0.78% CAPGOODS 164223022 2.35% -0.66% 38630150 5.96% CEMENT 46927550 3.86% 0.41% 7405139 -18.48% FINANCE 312040156 2.23% -0.03% 66587304 -13.59% FMCG 289799450 2.27% 0.80% 47838351 -7.00% IT 68810525 7.75% 1.74% 28464384 69.84% METALS 393814500 2.70% -0.03% 81076055 -15.02% OIL-GAS 378553640 3.00% 0.44% 87054475 -3.37% OTHERS 223731911 11.84% -0.18% 61164468 65.06% POWER 231519800 1.69% -1.04% 72021883 -24.24% TELECOM 638011535 4.59% -1.34% 88706135 -5.53% Grand Total 4315142859 3.80% 0.43% 1193381953 5.62% 4 Institutional Equity Research NIFTY 11909 IN FOCUS November 05, 2020 Support 11800 Stock in Focus Cea Sanitaryware MARKET LENS 11692 Intraday Pic BIOCON Resistance 11973 Intraday Pick BATAINDIA 12038 Intraday Pick WIPRO Pivot Table Name LTP Support 2 Support 1 Pivot Resistance 1 Resistance 2 Nifty 50 11909 11692 11800 11865 11973 12038 ADANI PORT & SEZ LTD 361 340 351 360 371 380 ASIAN PAINTS LIMITED 2169 2122 2146 2180 2204 2238 AXIS BANK LIMITED 525 500 513 523 536 546 BAJAJ AUTO LIMITED 2926 2853 2890 2919 2955 2984 BAJAJ FINSERV LTD.