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DAILY NEWS LETTER

Date: 06.11.2019

Nifty Short Term Trend

The Nifty closed in the red on November 5 after trading in the

green for seven consecutive sessions earlier which suggests

that bulls are taking a breather. The index formed a bearish

candle that resembles a Hanging Man pattern on the daily

charts. The pattern indicates some negative reversal in the

coming session if the index breaks and closes below 11,850

levels. The Nifty opened higher at 11,974.60 to immediately hit

a day's high of 11,978.95, but remained volatile throughout the

session. It made many attempts to stay in the green but failed

and hit the day's low of 11,861.90 in afternoon. To regain

strength, it was imperative that the bulls push the index beyond

11,989 levels on closing basis. In such a scenario, the bulls could

make an attempt to retest life-time highs of 12,103 levels. But,

if the bears manage a close below 11,843 then it should trigger

more profit booking. For the session, if Nifty sustain above

11,900 then we might see upper levels near 11,960-12,010

while on the lower side, immediate supports can be expected

near 11,850-11,800.

The Bank Nifty negated the formation of higher lows of the last

four trading sessions and closed negative after making gains in

seven consecutive sessions. It closed 0.37 percent lower at

30,219.85 and formed a bearish candle on the daily scale, as it

failed to surpass its crucial hurdle of 30,800 in the last trading

session. Bank Nifty has to continue holding above 30,000 to

witness an upmove towards 30,600-30,800 levels, while on the

downside, supports are seen at 30,000-29,750 levels.

Levels to watch

R1 R2 S1 S2 Outlook for the Day Short term Outlook

NIFTY 11960 12010 11850 11800 Sideways Positive

BANK NIFTY 30600 30800 30000 29750 Sideways Positive

USD/INR 70.95 71.20 70.55 70.28 Positive Positive

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Financial & Economic Wrap Up

Cadila Healthcare, on November 5, said group firm

Zydus Cadila has received final approval from the US

health regulator for its generic version of muscle

relaxant Cisatracurium Besylate Injection given before

general anaesthesia. The approval by the US Food and

Drug Administration (USFDA) is for single dose vials of

Cisatracurium Besylate Injection USP with strengths of

10 mg/5 ml and 200 mg/20 ml.

India's gold imports in October fell a third from a year

earlier, dropping a fourth straight month as near

record-high prices dampened festive buying in the

world's second-biggest consumer of the metal, a

government source said on November 4. Lower

imports by the South Asian country could cap gains in

global prices that are trading near their highest level in

more than six years, and may also help New Delhi

bring down its trade deficit and support the Indian

rupee.

The Ministry of Statistics and Programme

Implementation will decide on a new base year for the

GDP series in a few months, a senior official said on

November 5. The ministry is working to bring in a new

series of national accounts which would result in

change in the existing base year of 2011-12.

India is expected to see M&A deals of over $52 billion

in 2019 as mergers and acquisitions in the country are

expected to remain stable despite global headwinds,

according to a new report by Baker McKenzie.

"Despite the global headwinds, India M&A is expected

to remain stable in the next few years, with private

investments reviving against the backdrop of a more

favourable business environment," it said. The firm's

fifth annual Global Transactions Forecast, jointly

released with Oxford Economics, predicts India's GDP

will grow by close to 7 percent through 2019-2022,

ahead of the global GDP average growth rate of 2.8

percent for the same period.

Subhash Chandra may soon lose control of Zee

Entertainment Enterprises (ZEEL) as lenders prepare to

sell their pledged shares, Mint reports. Asset

managers, non-bank lenders and foreign portfolio

investors, who had extended loans to ZEEL’s

promoters, plan to put their pledged shares in an

escrow account, the report said. The group of lenders,

who have transferred a 10.77 percent stake into the

escrow account, have already begun discussions with

potential investors.

Indices Performance

Index LTP Previous Close % Change

S&P BSE Sensex 40248.23 40301.96 -0.13%

Nifty 50 11917.20 11941.30 -0.20%

Nifty Midcap 50 4597.15 4654.95 -1.24%

Nifty 500 9694.05 9732.40 -0.39%

Bank Nifty 30219.85 30333.10 -0.37%

Institutional Flows (Cash Segment)

Description (Rs in Cr) BUY SELL NET

FII Activity 5551.26 5078.09 473.17

DII Activity 3163.93 4757.64 -1593.71

FIIs Derivative Statistics

BUY SELL

No. of Contracts

Amount (INR. Cr.)

No. of Contracts

Amount (INR. Cr.)

Index Futures 29668 2212.04 31964 2325.67

Index Options 2701732 186463.55 2706529 186855.17

Stock Futures 224437 12666.81 226842 12689.54

Stock Options 75461 4510.76 75387 4492.48 Top OI Gainers

Scrip OI: No of Contracts LTP OI: Value

% Change in OI

BEL 4288 112.15 25728000 9.53

NCC 4990 58.4 39920000 9.5

KOTAKBANK 20203 1558.7 8081200 8.55

BERGEPAINT 3287 488.65 7231400 8.45

APOLLOTYRE 2513 180.35 7539000 7.72 Top OI Losers

Scrip OI: No of Contracts LTP OI: Value

% Change in OI

SRF 3410 2969.05 852500 -11.95

JINDALSTEL 10757 134.55 34422400 -9.32

BATAINDIA 4442 1710.15 2443100 -5.75

BAJAJFINSV 11856 8862.4 1482000 -4.68

TORNTPHARM 644 1798.2 322000 -4.45 Volume Spurt: Cash Segment

Scrip LTP Quantity

Change (%) Price Change

(%)

VARUN BEVERAGES 701.9 29.42 11.06

Reliance Power Limited 4 44.4 9.59

DEEPAKNTR 359.8 36.65 6.26

Indian Overseas Bank 10.6 42.38 -11.67

INTELLECT 150.45 48.06 -19.52 **Change from average Quantity, rest other % are over previous day’s close unless otherwise mentioned

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Put Call Ratios

OI Wise Volume wise

HINDUNILVR 1.49 BEARISH PVR 3.50 BEARISH

PVR 1.40 BEARISH OIL 3.00 BEARISH

BAJFINANCE 1.38 BEARISH TATAELXSI 2.91 BEARISH

PFC 1.31 BEARISH MINDTREE 2.07 BEARISH

SBIN 1.25 BEARISH SIEMENS 1.99 BEARISH

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Nifty OI – Call Put Analysis

F&O Wrap-up

• Nifty November series future closed at 11958.05 Premium of 40.85 Point compared to Nifty spot which closed at 11917.20

• Nifty OI wise Put-Call ratio stood at 1.18 and volume wise put-call ratio stood at 1.20

• India VIX has decreased by 0.20 percent and closed at 15.8925

• The open interest in Nifty Futures increased from 14,40,575 to 15,11,137

Quarterly Results Today (Q2)

Avadh Sugar & Energy Ltd HESTER BIOSCIENCES LTD. PRAKASH INDUSTRIES LTD.

BAJAJ ELECTRICALS LTD. HINDUSTAN OIL EXPLORATION CO PULSAR INTERNATIONAL LTD.

BCPL Railway Infrastructure Ltd HONDA SIEL POWER PRODUCTS RADICO KHAITAN LTD.

BOSCH LTD. Indiabulls Housing Finance Ltd RELIGARE ENTERPRISES LTD.

BRIGADE ENTERPRISES LTD. INDIA RADIATORS LTD. REVATHI EQUIPMENT LTD.

CANARA BANK KALPATARU POWER TRANSMISSION Saianand Commercial Limited

CIPLA LTD. LUPIN LTD. Satin Creditcare Network Ltd

COCHIN MINERALS & RUTILE MAGNA ELECTRO CASTINGS LTD. SHIPPING CORPORATION OF INDIA

CORPORATION BANK MAKERS LABORATORIES LTD. SOMANY CERAMICS LTD.

Continental Securities Ltd MANAPPURAM FINANCE LTD. SUMEDHA FISCAL SERVICES LTD.

Prataap Snacks Ltd MARAL OVERSEAS LTD. TAKE SOLUTIONS LTD.

E.I.D.-PARRY (INDIA) LTD. MAS Financial Services Ltd TATA STEEL LTD.

EMAMI LTD. Max Financial Services Ltd TCI INDUSTRIES LTD.

EXIDE INDUSTRIES LTD. Minda Corporation Ltd TIPS INDUSTRIES LTD.

FORTIS HEALTHCARE LTD. MUNJAL SHOWA LTD. TRIVENI TURBINE LTD.

FIRSTSOURCE SOLUTIONS LTD. NITCO LTD. V-GUARD INDUSTRIES LTD.

GODREJ CONSUMER PRODUCTS PNB GILTS LTD. VOLTAS LTD.

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