The NIFTY had good news for bulls, and also had good news for beers. Or in other words, we could say that the news is a glass half full for the bulls, and a glass half empty for beers. The good news is that support held after Friday’s decline. The NIFTY found repeated support around 11883, a level where minor support existed. Good news for beers is that the NIFTY failed to cross an earlier threshold of 12000. There was an intraday rally which fizzled out as the NIFTY lost all its intraday gains and closed where it opened.
The Intermediate viewpoint: we feel that correction has started and this correction, has probably more space on the downside. A strong support exists at 11800, which should be the logical target for any decline. The next level of support is 11700, giving us a zone of support between 11700 and 11800. This zone of support is the first logical target for the correction that we feel is now starting. We will ofcourse change our view, as markets progress. Today, this bearish view is cancelled on any rally above 12050. These levels will change as time goes by.
Looking for buying for a move towards 12000.
|BPCL||499.65||BUY||The stock has given the breakout with volume on the intraday as well as on the daily chart. The stock can be bought at CMP with a stop loss of 491 and for the target of 514-520.|
|CIPLA||447.90||SELL||The immediate trend of the stock is weak . The stock can be sell with a stop loss of 455.50 and for the target of 430.|
|STOCK OPTION||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|RELIANCE||1580 CE||BUY||32.10||CMP||23||48||OI Increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|CENTURYTEX.Dec 26||498.1||1.98||11.45||4053000||UJJIVAN.Dec 26||347.95||-1.64||16.72||8633600|
|TATAELXSI.Dec 26||861.65||0.93||11.14||1227600||CIPLA.Dec 26||451.9||-1.01||10.19||13955000|
|DISHTV.Dec 26||13.4||6.77||9.1||115864000||JUSTDIAL.Dec 26||566||-1.01||6.41||2255400|
|LICHSGFIN.Dec 26||432.4||1.23||5.72||9765800||NMDC.Dec 26||110.1||-0.41||6.35||17688000|
|L&TFH.Dec 26||114||1.47||5.69||24975000||SBIN.Dec 26||318.45||-0.84||6.06||100293000|
|Short Covering||Long unwinding|
|SAIL.Dec 26||39.5||2.86||-4.73||74364000||BANKNIFTY.Dec 26||31392.65||-0.08||-6.56||1389420|
|TORNTPHARM.Dec 26||1874.6||1.06||-4.2||296500||IDEA.Dec 26||6.5||-6.47||-5.33||466200000|
|MINDTREE.Dec 26||748.4||0.69||-2.23||895800||CONCOR.Dec 26||560.1||-0.95||-2.07||7455510|
|ADANIPORTS.Dec 26||373.65||1.84||-2.19||33095000||NCC.Dec 26||52||-0.67||-0.7||48888000|
|CUMMINSIND.Dec 26||530.8||1.67||-2.18||1635200||KOTAKBANK.Dec 26||1665.9||-0.42||-0.61||8536800|
Top Delivery Percentage
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|MARICO LIMITED||340.75||-0.1||1462923||2053980||71.17||INDIA VIX||14.6||7.02||83610|
|HDFC BANK LTD.||1242.95||-0.25||4132675||4626402||67.17||Nifty Auto||7863.3||0.73||83613|
|Cipla Ltd||447.9||-1.66||3761784||1602559||63.59||Nifty 50||11937.5||0.13||83610|
|Petronet LNG Limited||272.65||1.72||1934059||960233||61.85||Nifty Pharma||7960.35||0.04||83613|
|HDFC Ltd.||2311.4||2.06||3361967||2099384||61.03||Nifty Bank||31316.65||-0.08||83613|
|Power Grid Corporation o||187.95||0.72||3071128||1795941||59.26||Nifty FMCG||30375||-0.53||83613|
|ITC Ltd.||241.45||-0.78||6722758||5938137||57.24||Nifty IT||15157.15||-0.87||83613|
|Tata Chemicals Ltd.||662.6||-0.19||346725||237766||57.11||Nifty Realty||280.45||-1.04||83613|
Upcoming Economic Data
|•INR: CPI (YoY) (Nov) on 12th December 2019
•INR: Industrial Production (YoY) (Oct) on 12th December 2019
|•USA: Core CPI (MoM) ( Nov) on 11th December 2019
•USA: Crude Oil Inventories on 11th December 2019
•Fraud-hit CG Power and Industrial Solutions has sought shareholders’ nod to borrow up to Rs 5,000 crore to meet working capital and other business needs as it looks to spring back from the worst crisis in its history. The company is also seeking external advice on mode and sources of fundraising. Hence, approval of the members (or shareholders) is sought for availing borrowings up to an amount of Rs 5,000 crore for meeting the immediate funding requirements of the company.
•Yes Bank Ltd. is likely to reject an offer that made up more than half of its planned $2 billion capital raising, and is talking to institutional investors about making up the shortfall, according to a person familiar with the matter. The bank would prefer to have institutions rather than individual investors involved in its fund raising, said the person.
•State Bank of India on Monday announced the reduction in its marginal cost of fund based lending rate by 10 basis points across all one-year products. This is the eighth consecutive cut in MCLR by the lender this fiscal. The new one-year MCLR has been cut to 7.90 percent from 8 percent.
•Shapoorji Pallonji group firm Sterling and Wilson Solar Ltd (SWSL) on Monday said the company has begun construction of a 200 MW solar project in Australia. The turnkey solar EPC (engineering procurement and construction) project — Wellington Solar Farm — is being developed by Light source BP, an independent global leader in the funding.
Source ; Moneycontrol, Business Today, Livemint, Economics times
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|VGCL||Quarterly Results||10-Dec-19||RSWM||Right Issue of Equity Shares;General||11-Dec-19|
|ALMONDZ||Amalgamation;Quarterly Results||11-Dec-19||ADHARSHILA||Quarterly Results||12-Dec-19|
|ENBETRD||Quarterly Results||11-Dec-19||ADIEXRE||Quarterly Results||12-Dec-19|
|FINKURVE||Quarterly Results||11-Dec-19||ARMANFIN||General;Quarterly Results||12-Dec-19|
|KOTHARIFIN||Voluntary Delisting of Shares||11-Dec-19||BHAGYFN||Quarterly Results||12-Dec-19|
|Company Name||Ex-Date||Purpose||Company Name||Ex-Date||Purpose|
|EVANS||10-Dec-19||Interim Dividend – Rs. – 1.00||BOROSIL||18-Dec-19||Dividend – Rs. – 0.65|
|NESTLEIND||10-Dec-19||Interim Dividend – Rs. – 55.00||IBVENTURES||18-Dec-19||Buy Back of Shares|
|PIRPHYTO||11-Dec-19||Amalgamation||BALMLAWRIE||26-Dec-19||Bonus issue 1:2|
|TRIDENT||13-Dec-19||Stock Split From Rs.10/- to Rs.1/-|
DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014
Elite Wealth Advisors Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Advisors Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as read more
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