Trading Idea for 20 Nov 20 (Friday): Important data to know before market opening

The nifty Support level is placed at 12750 followed by 12700. If Nifty starts going up, then the resistance level will be 12875 and 12920. While the Bank Nifty support level is placed at 28475 and 28050. If Bank Nifty starts going up, then the resistance level will be 29175 and 29450.

FII and DII data

Foreign Institutional Investors bought shares of Rs. 1180.61 crore while Domestic Institutional Investors sold shares of Rs. 2854.94 crore in Indian equity market on November  19, as per data NSE data.

Latest Corporate Action

• Prakash Pipes Limited  –  Meeting of Board of Directors of the company is scheduled to be held on Nov 24 to consider and approve issue of Equity Shares on Preferential basis to the promoters subject to the approval of the shareholders.

• Snowman Logistics Limited – India Rating has affirmed Snowman Logistics Ltd’s long term rating at ‘IND A’ while resolving the Rating Watch Evolving (RWE).

• Shree Rama Newsprint Limited – CARE Rating has assigned a long term Bank Facilities (154.84 Cr) rating of CARE BB+ with under credit watch with developing implication, Long Term/Short Term Bank Facilities (6.00 Cr) rating of CARE BB+/CARE A4+ with credit watch with developing implication, Long Term Bank Facilities (2.56 Cr) rating of CARE BBB- with under credit watch with developing implication.

Stock of The Day (20 Nov 20)

• Sreeleathers Limited – Sreeleathers Limited is a Small Cap Company and having 351.92 Crore Market Cap, Operating in the Leather Sector and deals in Footwear Segments. In Q2FY21, IIFL Securities has posted 13.91 Crore Sales in the last quarter.
• It is informed that meeting of the Board of Directors of the Company will be held on Friday, November 24 for consideration of Buy-back of Fully Paid-up equity share of the Company.
• Sreeleathers Limited Share Price Opened at Rs.141.95 and later go to day high of Rs. 144.00 on NSE. The stock also hit a day low of Rs. 137.35 and Closed at Rs. 139.90.
• Sreeleathers Limited may hit upper circuit (167.85) on 20 Nov 20. So You can focus on the intraday basis this stocks for tomorrow.
• How To Trade Sreeleathers Limited on 20 Nov 20

Buy Sreeleathers, Target 1 = 149, Target 2 = 158, Target 3 = 167 Stop Loss = 135

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