The Nifty opened at 13448.50 with a gap down of 41 points. Prices have first moved down another 80 points to record its intraday low at 13399.30. Prices then traded sideways and narrow for almost the whole day. Prices have seen a sharp rally in the last hour of trading and erased all its intraday losses and finally closed at 13478.30 down by 50.80 points. The FMCG and Metal sectors have gained while Auto and Bank sectors closed with loss.
The markets were quite choppy with the index moving up and down almost randomly. The Nifty has again made a Doji pattern. In the last three days, this is the second day in which the Doji has been made. The index again opened lower then moved down and finally rallied back to close almost at the same location where it had opened.
It is difficult to say exactly what the implication of two Doji patterns in three days would be. Since the Doji represents uncertainty, we can simply say that the markets are now going into a process of consolidation, with a sense of caution about the next direction. Yesterday we have seen some recovery after the Nifty fell below 13450. For today, traders can look to buy on a dip towards 13400 with a stop at 13300 and for the target of 13550.
Bank Nifty opened at 30545.35 with a gap down of 150 points. The index continued its weak momentum and moved down further to its intraday low at 30202. However, prices have seen a sharp rally in the last hour of trading, erased its intraday losses and finally closed near its opening price.
PSU Banks have underperformed and closed lower by 1.54% while Private Banks also closed lower by 0.64%. Within the index, in terms of points Kotak Bank contributed highest while HDFC Bank contributed lowest. We were long in the index from 29900 and suggested to close at the opening, the index opened at 30545 and we closed the trade with a gain of 645 points. It is possible that a process of consolidation may begin here.
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|ITC||212.70||BUY||The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 207 and for the target 220.|
|TATA CONSUMER||579.90||BUY||The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 570 and for the target 590.|
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|STOCK OPTION||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|HINDUNILVR||2340 CE||BUY||61||CMP||45||85||OI increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|ICICIPRULI.20.12 Dec||498.75||1.98||18.31||6513000||CANBK.20.12 Dec||118.7||-1.58||72.89||49480000|
|GODREJCP.20.12 Dec||733.85||3.51||16.9||6157000||CUMMINSIND.20.12 Dec||579.15||-2.17||54.93||2169600|
|BRITANNIA.20.12 Dec||3761.65||3.1||13.3||2215400||UPL.20.12 Dec||439.5||-11.04||40.09||29997500|
|ITC.20.12 Dec||214.4||3.88||9.6||95510400||MFSL.20.12 Dec||638||-0.16||23.34||6553300|
|PIDILITIND.20.12 Dec||1663||2.08||9.27||3331000||LICHSGFIN.20.12 Dec||347.2||-2.85||11.48||12212000|
|Short Covering||Long Unwinding|
|CADILAHC.20.12 Dec||471.45||0.31||-2.94||6402000||BHEL.20.12 Dec||35.95||-2.04||-6.25||97356000|
|DABUR.20.12 Dec||517.7||2.51||-2.83||16022500||NIFTY.20.12 Dec||13521||-0.34||-5.5||11780925|
|HDFCLIFE.20.12 Dec||662.45||1.25||-0.91||16659500||PNB.20.12 Dec||37.15||-4.01||-4.71||107954000|
|HAVELLS.20.12 Dec||830||0.3||-0.89||3909000||BANKNIFTY.20.12 Dec||30602.3||-0.52||-3.39||1672050|
|ADANIPORTS.20.12 Dec||473.85||1.6||-0.28||51802500||PVR.20.12 Dec||1481.1||-0.77||-2.42||1429791|
TOP DELIVERY PERCENTAGE
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|Godrej Cons Products Ltd||728.55||3.35||4702971||1295802||71.65||Nifty Fmcg||34054.8||2.81||85059|
|Max Financial Services l||638.55||0.46||2232621||707878||61.84||Nifty Realty||290.25||0.43||85059|
|Balkrishna Ind. Ltd||1658.2||-0.59||1261160||392816||61.44||Nifty Metal||3113.05||0.23||85059|
|Power Grid Corporation o||192.75||0.03||7657247||6359809||60.46||Nifty Pharma||12440.6||-0.03||85059|
|Britannia Ind Ltd.||3739.75||3.11||1443681||259921||59.8||Nifty it||22755.75||-0.21||85059|
|Hdfc Life Insurance Comp||659.45||1.05||5582666||2690203||59.61||Nifty 50||13478.3||-0.38||85059|
|Bandhan Bank Limited||414.9||3.74||14568462||9327414||59.39||Nifty Bank||30510.35||-0.65||85059|
|Mahindra & Mahindra Fina||170.05||-3.41||10406197||6726788||59.19||Nifty Energy||16931.6||-0.91||85059|
|Ambuja Cements Ltd||248.3||-1.8||11038230||7497697||56.84||Nifty Auto||9200.85||-0.99||85059|
|Icici Lombard General In||1449.75||-0.25||575732||698705||55.73||Nifty Media||1646.2||-1.62||85059|
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UPCOMING ECONOMIC DATA
|INR: CPI Y-o-Y on 11th December, 2020
INR: Cumulative Industrial production(oct) on 11th December, 2020
|•USD: PPI (MOM) (NOV) on 11th December ,2020
•USD: MIchigan consumer sentiment 11th December, 2020
|•Mrs. Bectors Food Specialities Ltd. will sell shares at Rs 286-288 apiece in the the biscuit and bread maker’s three-day initial public offering that opens on Dec. 15. The IPO comprises sale of shares worth Rs 500 crore by Linus Pvt. Ltd., Mabel Pvt. Ltd., GW Crown Pte. Ltd. and GW confectionary Pte. Ltd., and fresh issue worth Rs 40.5 crore. ICICI Securities Ltd., SBI Capital Markets Ltd. and IIFL Securities Ltd. are the book running lead managers to the issue. Mrs. Bectors plans to use the proceeds of fresh issue to expand its biscuit factory at Rajpura, Punjab, Anoop Bector, managing director at the company, told BloombergQuint in an interview.
•Cement Stocks Fall As CCI Probes Alleged Anti-Competitive Behaviour.The Competition Commission of India has initiated an investigation against ACC Ltd. and Ambuja Cements Ltd., the two companies said in their exchange filings. Both the Holcim group subsidiaries.The investigation comes after Roads and Highways Minister Nitin Gadkari hinted at possible “cartelisation” and “black marketing technique” in the cement industry in September.
•Shares of Indian Railways Catering and Tourism Corp. fell the most on record in Thursday’s trading session. The company’s non-retail Offer for Sale received demand for 198% of the total number of shares on offer. The bids were received at Rs 1,391.42 per share, higher than the floor price of Rs 1,367 per share, according to Bloomberg data. The OFS for retail investors will open for subscription.
•Source: Economic Times, Moneycontrol ,Business Today, Livemint, Business Standard, Bloomberg Quint
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|TELESYS||Preferential Issue of shares||11-Dec-20||INDSUCR||Quarterly Results||14-Dec-20|
|ANJANI||General||12-Dec-20||SHIVACEM||Increase in Authorised Capital;Preferential Issue of shares||14-Dec-20|
|REVATHI||General;Scheme of Arrangement||12-Dec-20||ZODJRDMKJ||General||18-Dec-20|
|SBTL||General;Reduction of Capital||12-Dec-20||GLITTEKG||A.G.M.;General||29-Dec-20|
|Company Name||Ex-Date||Purpose||Company Name||Ex-Date||Purpose|
|Manas Properties Ltd||11-Dec-20||E.G.M.||RESPONSIVE INDUSTRIES LTD.||16-Dec-20||Final Dividend – Rs. – 0.0700|
|SWASTIK SAFE DEPOSIT & INVESTMENTS LTD.||11-Dec-20||Dividend – Rs. – 1.0000||SHRISTI INFRASTRUCTURE DEVELOPMENT CORPORATION LTD.||16-Dec-20||Dividend – Rs. – 0.2500|
|GOODYEAR INDIA LTD.||14-Dec-20||Interim Dividend – Rs. – 80.0000||Trescon Ltd||16-Dec-20||Dividend – Rs. – 0.0500|
|APL APOLLO TUBES LTD.||15-Dec-20||Stock Split From Rs.10/- to Rs.2/-||East West Holdings Ltd||17-Dec-20||Dividend – Rs. – 0.0500|
|NICCO PARKS & RESORTS LTD.-$||16-Dec-20||Annual Book Closure||Hindustan Aeronautics Ltd||17-Dec-20||Interim Dividend – Rs. – 15.0000|
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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