Maindarkar Stock Merchant

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*Aarti drugs* Will be applying for the pharma PLI scheme, co's CFO Adhish Patil. *IOL Chemicals* Will not be applying for govt's pharma PLI scheme, co's Joint Managing Director Joint Managing Director. '2-3 years is a short time to bring in robust tech to compete with Chinese products. *GOVT OFFICIAL:* India govt considering bearing entire covid vaccination cost. Next FY budget likely to provide for vaccination outlay.

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*IIFL Market Mantra* US markets end the week with losses as Dow Jones falls over 220 points while Nasdaq falls close to 0.5%, as no early signs of stimulus, growing concern over rising virus cases & Federal Resereve likely to discontinue select treasury support for industries. US$ sees weakness while bond yields trade near 0.84%, with oil prices being last week's biggest gainers. Asian markets opened in the green led by the South Korean Kospi & the S&P ASX which saw optimism on early vaccine usage being the trigger for near term return of normalcy. Economic activity also to see renewed optimism which could see industrials outperform. Emerging markets to outperform with Asia ex Japan seeing more flows. The Nifty saw a sharp 2nd half pull back on Friday as foreign investors bought banks & cyclicals to see Nifty end higher by 88 points. Bank Nifty also saw recovery as it closed with gains of 333 points before being down 300 in intra day trade. Reliance saw 2-week lows as selling pressure continues to see the stock underperform. For today, expect higher volatility as we enter expiry of derivative contracts week for November with highest ever foreign investor buying propping new highs on the indices. Trading Ideas (Time period: 1-7 days) GRASIM (Buy at Rs850-860 Target Rs890 Stop Loss Rs844): On the weekly chart, the price has moved after a consolidation. The weekly RSI is in a positive crossover. The set up is conducive for further up move in the near term. Hold long positions with the mentioned stop loss. Trading ideas (Time period: 1-14 days) BUY IDFC at Rs33-35, Stop Loss Rs31 & Target Rs45. Derivative Strategies (Time period: Hold till expiry) BUY IndusInd Bank November future at Rs807-818, Stop Loss Rs796 & Target Rs828.