NIFTY:
NIFTY opened at 17387.15 with a gap up of just 33 points. The index recorded its intraday low at 17383.30 near its opening price in its early trade and rallied higher.The rally continued for the whole day. Minor dips in between were quickly bought by the bulls and the index keeps on rising to record its intraday high at 17646.65. The index finally closed at 17625.70 near its daily highs with a gain of 271.65 points or 1.57% up. All the sectoral indices have closed with gains today. The PHARMA sector underperformed today and ended with loss while FMCG ended with marginal gains. The rest of the sectors have gained nearly 1% or higher.
The market entered the new year on bullish momentum, with the benchmark indices hitting fresh more than six-week highs, as bulls remained strong in the second straight session on Monday.It was a trend day today on the upside where prices have recorded its intraday low near the opening tick and intraday high near the closing tick. BANK and FINANCIAL stocks have led the rally today and the top 10 stocks in the NIFTY 50 index have closed with gains today.
BANK NIFTY:
BANK NIFTY opened at 35585.20 with a gap upof 82 points. The index initially consolidated and recorded its intraday low at 35526.60. The index then started an upside move and that move continued for the whole day. Prices have recorded its intraday high at 36492.10 and finally closed at 36467.65 with a gain of 964 points. PSU and PVT BANKS both have performed well today and closed with a gain of 2.15% and 2.72% respectively. Within the index, in terms of points, ICICI BANK contributed the highest followed by HDFC BANK
We were long in the index around 35500 and we have suggested staying long with stop at 35200 and a target at 36200. Prices moved up today and hit the target price easily. We have exited from this trade with a gain of 700 points.
TECHNICAL PICKS
| COMPANY NAME | CMP | B/S | RATIONALE+ |
| AARTIIND | 1017 | BUY | The stock is on the verge of giving the breakout on the intraday as well as the daily chart. The stock can be buy above 1020 with a stop loss of 1005 and for the target of 1040. |
| ICICIBANK | 764 | BUY | The immediate trend of the script is bullish. There is a positive cross over of moving averages as well as of the indicators therefore it can be buy above 765 with a stop loss of 755 and target of 780. |
DERIVATIVE PICKS
| Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| JSWSTEEL | 670CE | BUY | 23 | CMP | 15 | 40 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| NESTLEIND.Jan 27 | 19804 | 0.01 | 0.83 | 305975 | LAURUSLABS.Jan 27 | 532.15 | -1.83 | 5.19 | 3815100 | |
| INDUSTOWER.Jan 27 | 249.65 | 0.06 | 6.77 | 15710800 | CIPLA.Jan 27 | 935.75 | -1.43 | 2.21 | 9946950 | |
| HINDUNILVR.Jan 27 | 2367.95 | 0.07 | 1.86 | 9322500 | CADILAHC.Jan 27 | 478.6 | -1.27 | 1.35 | 17348100 | |
| GRANULES.Jan 27 | 338.4 | 0.09 | 1.36 | 13471050 | SYNGENE.Jan 27 | 615 | -1.24 | 0.69 | 868700 | |
| PIIND.Jan 27 | 3054 | 0.09 | 1.34 | 1604250 | DRREDDY.Jan 27 | 4877 | -1.2 | 0.74 | 2212250 | |
| Short Covering | Long Unwinding | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| ALKEM.Jan 27 | 3653.9 | 0.24 | -0.62 | 318400 | AUROPHARMA.Jan 27 | 733.5 | -0.66 | -0.89 | 14975250 | |
| SBICARD.Jan 27 | 934 | 0.4 | -0.72 | 4688000 | ESCORTS.Jan 27 | 1911 | -0.44 | -0.47 | 5031400 | |
| PIDILITIND.Jan 27 | 2489.95 | 0.49 | -0.15 | 2045000 | BALKRISIND.Jan 27 | 2325 | -0.22 | -0.07 | 1397200 | |
| TORNTPOWER.Jan 27 | 554.6 | 0.56 | -1.91 | 3007500 | SRF.Jan 27 | 2428.7 | -0.21 | -0.78 | 3017250 | |
| TATACONSUM.Jan 27 | 750.3 | 0.64 | -0.09 | 10169550 | ||||||
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Hdfc Ltd. | 2636.4 | 1.93 | 1256497 | 0 | 75.48 | Nifty 50 | 17625.7 | 1.57 | 78921 | |
| Hindustan Aeronautics Li | 1233.7 | 1.9 | 552027 | 0 | 71.11 | Nifty Bank | 36421.9 | 2.65 | 78921 | |
| Hdfc Bank Ltd. | 1519.65 | 2.72 | 4534592 | 0 | 70 | Nifty Fmcg | 37606.05 | 0.07 | 78921 | |
| City Union Bank Ltd. | 138.6 | 2.93 | 1503638 | 0 | 69.76 | Nifty it | 39123.8 | 1.09 | 78921 | |
| Infosys Limited | 1898.45 | 0.57 | 3329616 | 0 | 67.88 | Nifty Realty | 489.65 | 1.14 | 78921 | |
| Hindustan Unilever Ltd | 2361.3 | 0.05 | 879278 | 0 | 64.03 | Nifty Auto | 11114.55 | 1.62 | 78921 | |
| Kotak Mahindra Bank Limi | 1824.45 | 1.58 | 1985109 | 0 | 61.69 | India Vix | 16.45 | 1.43 | 78918 | |
| Larsen & Toubro Limited | 1922.85 | 1.42 | 1906676 | 0 | 61.62 | Nifty Metal | 5628.1 | 1.93 | 78921 | |
| Icici Lombard General In | 1409.8 | 0.61 | 295484 | 0 | 60.46 | Nifty Media | 2251.2 | 1.46 | 78921 | |
| Tata Consultancy Serv Lt | 3817.75 | 2.12 | 2346158 | 0 | 60.28 | Nifty Financial Services | 17761.05 | 2.48 | 78921 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: Nikkei Services PMI (Dec) on 5th January, 2022
INR: FX Reserves, USD on 7th January, 2022 |
•USD: ISM Manufacturing PMI (Dec) on 4th January 2022
•USD : Services PMI (Dec) on 5th January 2022 |
NEWS UPDATES
-
India’s Tata Power informed the exchanges that Sanjeev Churiwala has joined the company as new Chief Financial Officer with effect from 1 January. A Chartered Accountant by qualification, Churiwala has over 27 years of corporate experience spanning across the financial services sector including reporting and controlling of listed companies, exposure to projects, supply chain, fundraising, and M&A.
-
Packaged goods companies are ramping up supplies and stocking up products across distribution networks, retail stores and e-commerce channels amid fresh covid-linked restrictions in several large states.
-
Ashoka Buildcon Ltd recent announcement on the sale of some of its BOT (Build-operate transfer) assets is looked at in a positive light. Its subsidiary Ashoka Concessions Ltd, has signed an agreement with KKR group entity Galaxy Investments II Pte. Ltd for selling the stake in 5 BOT assets for ₹1,337 crore.
-
Sterling and Wilson Renewable Energy Ltd (SWREL) today said Reliance New Energy Solar Ltd (RNESL) has become its promoter after it paid payment of balance ₹1,583 crore for acquisition 25.90% equity in it.
-
India’s unemployment rate reached a four-month high of 7.91% in December as compared to 7% and 7.75 per cent in November and October 2021, data from the Centre for Monitoring Indian Economy (CMIE) showed on Monday.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint.
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| ALFAVIO | General | 04-Jan-22 | HUBTOWN | Issue Of Warrants | 05-Jan-22 |
| BHAGCHEM | Increase in Authorised Capital;General | 04-Jan-22 | KACL | General | 05-Jan-22 |
| DBREALTY | Issue Of Warrants;Pref. Issue | 04-Jan-22 | KALPACOMME | General | 05-Jan-22 |
| GENNEX | General | 04-Jan-22 | OMNIPOTENT | General | 05-Jan-22 |
| KANELIND | Quarterly Results | 04-Jan-22 | REVAORG | Stock Split;General | 05-Jan-22 |
| MCCHRLS-B | General | 04-Jan-22 | SPANDANA | Quarterly Results | 05-Jan-22 |
| MUKTA | Stock Split | 04-Jan-22 | ANANDRATHI | Interim Dividend;Quarterly Results | 06-Jan-22 |
| MYSTICELE | Stock Split | 04-Jan-22 | GGDANDE | General | 06-Jan-22 |
| NOUVEAU | Stock Split | 04-Jan-22 | RITCO | Employees Stock Option Plan;General | 06-Jan-22 |
| ROYALCU | Scheme of Arrangement | 04-Jan-22 | AREXMIS | General | 07-Jan-22 |
| STERPOW | General | 04-Jan-22 | CHOTHANI | General | 07-Jan-22 |
| BHARTIA | General | 05-Jan-22 | GMBREW | Quarterly Results | 07-Jan-22 |
| DHRUV | General | 05-Jan-22 | INTELLADV | General | 07-Jan-22 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| QUANTDIA | 04-Jan-22 | E.G.M. | IPCALAB | 10-Jan-22 | Stock Split From Rs.2/- to Rs.1/- |
| JOHNPHARMA | 05-Jan-22 | Stock Split From Rs.10/- to Rs.1/- | AXITA | 11-Jan-22 | Bonus issue 1:2 |
| MANGTIMBER | 05-Jan-22 | Amalgamation | SINDHUTRAD | 12-Jan-22 | E.G.M. |
| MAZDOCK | 06-Jan-22 | Interim Dividend – Rs. – 7.1000 | AJANTPHARM | 13-Jan-22 | Buy Back of Shares |
| IMFA | 07-Jan-22 | Bonus issue 1:1 | BHATIA | 13-Jan-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 www.elitewealth.in. 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, suhail@elitewealth.in
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 www.elitewealth.in.
Company-Specific Disclosures
Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting https://www.elitewealth.in, or emailing research@elitestock.com 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 research@elitestock.com.
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 https://www.elitewealth.in
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: www.elitewealth.in
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