NIFTY:
The Nifty opened at 14258.40 with a gap up of 121 points. The index initially moved down and recorded its intraday low at 14221.65. Prices then saw a sharp rally for 1 hour. From 10:30 AM to 2:30 PM, the index then traded sideways and narrow. Another sharp rally came in the last hour of trading and the index finally closed at 14347.25 up by 209.90 points. The rally was led by Auto and IT sector which closed up by more than 3%. Banks have underperformed while Metals were the only sector that closed with losses.Back to Back gaps in the Nifty hep prices to close at record levels. The index recorded its lifetime new high at 14367.30 and closed very near to this level.
Earning numbers have started with TCS posting its results on Friday. In this week besides earnings, global cues and updates on vaccine drive will also remain in focus.
We had mentioned that the Nifty has been trying very hard to cross a resistance of 14250 but had failed to do so. On Friday, the index opened above this resistance and remained higher for the whole day. The trend is very strong on the upside. We have mentioned two scenarios for fresh trade. Either on breakout above 14250 or a dip towards 13800 The index has broken above 14250 we will wait to get this confirmation on Monday and then plan further.
BANK NIFTY:
Bank Nifty opened at 32298.05 with a gap up of 328 points. Prices have seen an intraday decline for the whole day, filled the gap almost completely and finally closed at 32084. Private Banks have performed better and closed with gains while PSU Banks have underperformed and closed lower. Within the index, HDFC Bank contributed highest while Indusind Bank the lowest. We were long in the index from 31500 and we had decided to book this at the opened so we booked profit at 32200.
As we had mentioned 32613 is a lifetime high which may act as a resistance. Look to buy on dips.
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TECHNICAL PICKS
| COMPANY | CMP | B/S | RATIONALE |
| TORNTPHARMA | 2851.90 | BUY | The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 2815 and for the target 2920 |
| DABUR | 540.1 | BUY | The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 533 and for the target |
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DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| SUNPHARMA | 620 CE | BUY | 21.40 | CMP | 17 | 28 | OI increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| TORNTPOWER.21.01 Jan | 336.85 | 0.87 | 48.66 | 5160000 | CUMMINSIND.21.01 Jan | 635.85 | -1.16 | 31.6 | 2364000 | |
| COFORGE.21.01 Jan | 2812 | 2.06 | 20.6 | 590625 | M&MFIN.21.01 Jan | 190.3 | -2.81 | 19.86 | 16944000 | |
| HAVELLS.21.01 Jan | 1009.65 | 3.77 | 17.39 | 3619000 | LALPATHLAB.21.01 Jan | 2409.55 | -0.01 | 16.64 | 175250 | |
| BANDHANBNK.21.01 Jan | 420.95 | 3.39 | 16.76 | 16255800 | VEDL.21.01 Jan | 179.4 | -3.6 | 10.03 | 78523000 | |
| MINDTREE.21.01 Jan | 1745 | 3.2 | 10.97 | 1739200 | ITC.21.01 Jan | 203.15 | -0.42 | 8.76 | 1.06E+08 | |
| Short Covering | Long Unwinding | |||||||||
| Stocks | Price | Price% | OI% | OI | Stocks | Price | Price % | OI % | OI | |
| BAJAJFINSV.21.01 Jan | 9187 | 1.73 | -7.78 | 804125 | SAIL.21.01 Jan | 76.8 | -1.54 | -3.03 | 90098000 | |
| IOC.21.01 Jan | 96.15 | 1.32 | -4 | 45227000 | IDEA.21.01 Jan | 11.8 | -2.07 | -2.4 | 8.52E+08 | |
| HDFCAMC.21.01 Jan | 3133.95 | 1.87 | -2.46 | 262000 | INDIGO.21.01 Jan | 1730 | -1.38 | -1.54 | 3011000 | |
| UPL.21.01 Jan | 503.35 | 4.09 | -2.15 | 18240300 | TATASTEEL.21.01 Jan | 713.9 | -1.41 | -0.46 | 39247900 | |
| DIVISLAB.21.01 Jan | 3864 | 1.04 | -1.98 | 2471600 | ||||||
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Lalpathlab | 2406.85 | 0.48 | 320669 | 454226 | 71.16 | Nifty it | 26162.4 | 3.61 | 85179 | |
| Hindustan Unilever Ltd | 2391.2 | 0.94 | 2797948 | 1383071 | 57.53 | Nifty Auto | 9741.25 | 3.3 | 85179 | |
| Icici Prudential Life In | 525.9 | 3.18 | 3319428 | 720957 | 55.82 | Nifty Media | 1756.6 | 3.26 | 85179 | |
| Sbi Life Insurance Compa | 935.5 | 2.34 | 4436263 | 608314 | 54.83 | Nifty Pharma | 13271.55 | 1.61 | 85179 | |
| Hdfc Ltd. | 2657.5 | -0.14 | 4497042 | 2215445 | 53.96 | Nifty 50 | 14347.25 | 1.48 | 85179 | |
| Petronet Lng Limited | 268.4 | 3.33 | 9051914 | 3444859 | 51.99 | Nifty Realty | 327.5 | 1.42 | 85179 | |
| Britannia Ind Ltd. | 3575.25 | 0.63 | 961239 | 309280 | 49.76 | Nifty Energy | 17255.15 | 1.25 | 85179 | |
| Infosys Limited | 1312.1 | 3.96 | 13186251 | 5389517 | 49.2 | Nifty Fmcg | 34276.75 | 0.72 | 85179 | |
| Godrej Cons Products Ltd | 750.35 | 2.32 | 2097317 | 734508 | 48.81 | Nifty Bank | 32084.2 | 0.4 | 85179 | |
| Tata Consumer Products l | 609.55 | 1.45 | 3458752 | 1061151 | 48.33 | Nifty Metal | 3529.2 | -0.6 | 85179 | |
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UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: CPI (YoY) (Dec) on 12th January, 2021
INR: Industrial Production (YoY) (Nov) on 12th January, 2021 |
•USD : EIA Short-Term Energy Outlook on 12th January, 2021
•USD : API Weekly Crude Oil Stock on 13th January, 2021 |
NEWS UPDATES
| •Mahindra & Mahindra (M&M) on Friday announced hike in prices of its range of personal and commercial vehicles by around 1.9 per cent with immediate effect. Mahindra & Mahindra will raise the prices of range of personal and commercial vehicles by Rs 4,500 – Rs 40,000, depending on the model and variant.
•Sales of electric two-wheelers (e-2W) in India remains tepid despite government’s subsidy and near-term outlook largely remains unchanged, according to ratings agency Icra. Under the three year tenure of FAME-II scheme — FY20-FY22– e-2W sales have been only 2 per cent of the targeted 10 lakh unit sales as on September 30, 2020 halfway mark, Icra NSE said in a statement. •IndiGo NSE will resume direct flights between Kolkata and Shillong from February 1 with the Meghalaya government reopening the state for tourists after remaining closed for almost 10 months due to COVID-19, Airports Authority of India (AAI) said on Friday. The northeastern state was connected with Delhi last month by direct flight services of regional airline flybig. •The market capitalisation of BSE-listed companies zoomed to a fresh lifetime high of over Rs 195.21 lakh crore in morning trade on Friday as markets returned to winning ways after two days of decline. Source: Economic Times, Moneycontrol ,Business Today, Livemint, Business Standard, Bloomberg Quint |
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BOARD MEETING
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| BHEEMACEM | Audited Results;General | 11-Jan-21 | PRISMX | General | 11-Jan-21 |
| DOLAT | Quarterly Results | 11-Jan-21 | RJSHAH | Quarterly Results | 11-Jan-21 |
| FORCEMOT | General | 11-Jan-21 | TERRASCOPE | General | 11-Jan-21 |
| GNA | Quarterly Results | 11-Jan-21 | VENMAX | Quarterly Results | 11-Jan-21 |
| HALDYNGL | General | 11-Jan-21 | ZICOM | Audited Results;Quarterly Results | 11-Jan-21 |
| JINDALSAW | General | 11-Jan-21 | ATVPR | Quarterly Results | 12-Jan-21 |
| MANRAJH | General | 11-Jan-21 | COASTCORP | ESOP;Preferential Issue; Results | 12-Jan-21 |
| MNIL | General | 11-Jan-21 | CSL | Quarterly Results | 12-Jan-21 |
| NETLINK | Quarterly Results | 11-Jan-21 | FILATEX | Quarterly Results | 12-Jan-21 |
| NIDHGRN | Quarterly Results | 11-Jan-21 | HATHWAYB | Quarterly Results | 12-Jan-21 |
| ONGC | General | 11-Jan-21 | INDBANK | Quarterly Results;General | 12-Jan-21 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| REFEX | 11-Jan-21 | Interim Dividend – Rs. – 1.0000 | REFEX | 11-Jan-21 | Interim Dividend – Rs. – 1.0000 |
| ORTINLAABS | 12-Jan-21 | Spin Off | ORTINLAABS | 12-Jan-21 | Spin Off |
| ORTINLAABS | 12-Jan-21 | Reduction of Capital | ORTINLAABS | 12-Jan-21 | Reduction of Capital |
| COCHINSHIP | 13-Jan-21 | Interim Dividend – Rs. – 9.0000 | COCHINSHIP | 13-Jan-21 | Interim Dividend – Rs. – 9.0000 |
| INDTONER | 14-Jan-21 | Buy Back of Shares | INDTONER | 14-Jan-21 | Buy Back of Shares |
DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014
Elite Wealth Ltd. 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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