NIFTY:
The NIFTY found support at lower levels, within a range between 11800 and 11860. Yesterday we had identified a support range around 11800, and also suggested that short-term traders should look for a buying opportunity since the market were poetntially oversold.
Today the NIFTY opened almost flat, then had a rally, then had a severe and sharp decline, and finally in the last half an hour had a standing rally which took it too close with gains above 11900.
View for the position trader: it is possible that the first leg of this correction may be getting over. The markets are oversold. We suggest traders should be buying above 11925 with a tight stop under 11850.
View for the short-term trader: Tomorrow is Thursday , when the weekly options expire. This is usually a day with a lot of volatility. Within this volatility we would assume that today’s last hour rally should continue and the market may end up with gains.
VIEW:
Buy on a breakout above 11940 with a stop just below 11910.
Buy on a dip towards 11880 with stop just below 11850.
TECHNICAL PICKS
| COMPANY | CMP | B/S | RATIONALE |
| BATAINDIA | 1714.25 | 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 1695 and for the target of 1750. |
| M&M | 507.75 | SELL | The immediate trend of the stock is weak . The stock can be sell with a stop loss of 512.40 and for the target of 496 |
DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| MANAPPURAM | 165 CE | BUY | 5.55 | CMP | 3.50 | 9.40 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| L&TFH.Dec 26 | 114.8 | 1.19 | 18.32 | 28368000 | UJJIVAN.Dec 26 | 342.1 | -0.78 | 26.09 | 10916800 | |
| DLF.Dec 26 | 227.25 | 4.46 | 11.32 | 36066800 | YESBANK.Dec 26 | 39.65 | -15.64 | 23.62 | 246560600 | |
| NMDC.Dec 26 | 112.1 | 1.45 | 10.76 | 19704000 | SBIN.Dec 26 | 312.05 | -0.78 | 11.76 | 107952000 | |
| MINDTREE.Dec 26 | 754 | 2.1 | 8.82 | 962400 | TATACHEM.Dec 26 | 652.65 | -0.21 | 9.64 | 2067300 | |
| CADILAHC.Dec 26 | 262 | 0.31 | 7.94 | 7921600 | POWERGRID.Dec 26 | 183.1 | -0.25 | 9.07 | 29956000 | |
| Short Covering | Long unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| NIFTYIT.Dec 26 | 15229 | 0.91 | -20 | 7200 | TATAELXSI.Dec 26 | 828 | -1.72 | -5.46 | 1059000 | |
| UNIONBANK.Dec 26 | 54.85 | 1.39 | -6.94 | 26852000 | EQUITAS.Dec 26 | 107.15 | -2.77 | -0.97 | 21564000 | |
| CONCOR.Dec 26 | 556.75 | 0.28 | -3.08 | 7236690 | ||||||
| BANKNIFTY.Dec 26 | 31344.8 | 0.38 | -2.58 | 1398100 | ||||||
| TATAPOWER.Dec 26 | 52.9 | 2.72 | -0.88 | 78219000 | ||||||
Top Delivery Percentage
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| NTPC Limited | 113 | 2.73 | 8746687 | 14730976 | 77.7 | Nifty IT | 15130.3 | 1.23 | 81951 | |
| United Breweries Limited | 1201.95 | 0.07 | 495380 | 532495 | 74.22 | Nifty Realty | 280.5 | 0.94 | 81951 | |
| Page Industries Limited | 21659.3 | -1.56 | 20884 | 23254 | 71.96 | Nifty Media | 1752.65 | 0.65 | 81951 | |
| HDFC BANK LTD. | 1248.75 | -0.06 | 5527321 | 3433356 | 70.15 | Nifty Auto | 7838.4 | 0.47 | 81951 | |
| ITC Ltd. | 237.6 | 0.85 | 13799825 | 10773842 | 70.05 | Nifty 50 | 11910.15 | 0.45 | 81951 | |
| Torrent Power Limited | 270.85 | -0.68 | 770310 | 661906 | 66.97 | Nifty Pharma | 7967.85 | 0.34 | 81951 | |
| Power Grid Corporation o | 181.75 | -0.55 | 22058390 | 3975556 | 66.91 | Nifty Bank | 31256.75 | 0.31 | 81951 | |
| Shree Cements Ltd. | 19969.6 | -0.68 | 18120 | 18763 | 66.31 | Nifty FMCG | 30102.45 | 0.14 | 81951 | |
| Tata Chemicals Ltd. | 649.55 | -0.25 | 434771 | 223159 | 65.57 | Nifty Metal | 2509.55 | -0.25 | 81951 | |
| Hindustan Unilever Ltd | 2010.45 | -0.74 | 967708 | 1026252 | 63.72 | INDIA VIX | 13.38 | -6.39 | 81951 | |
Upcoming Economic Data
| Domestic International | |
| •INR: CPI (YoY) (Nov) on 12th December 2019
•INR: Industrial Production (YoY) (Oct) on 12th December 2019 |
•USA: Fed Interest Rate Decision on 12th December 2019
•USA: PPI (MoM) (Nov) on 12th December 2019 |
NEWS UPDATES
| •Faced with acute financial crunch, Air India has sought Rs 2,400 crore guarantee from the government to raise fresh funds to mainly meet its operational requirements. The development comes at a time when the government is in the process of finalising the contours for divestment of debt-laden Air India.
•Piramal Group and IIFL Wealth Management has floated co-investment Alternative Investment Fund (AIF) platform to fund select advance stage and last-mile real estate projects across Tier 1 cities in India. The proposed AIF will have a target size of Rs 2,000 crores, will be used to provide much needed capital to tier 1 builders across select markets.. •Automaker Nissan Motor India on Wednesday said it will increase prices of its entire model range by up to 5 per cent from next month in order to offset the impact of high input costs. The revised prices will be applicable across all available models for Nissan and Datsun, effective January 2020, Nissan Motor India said in a statement. •Automobile dealers’ body FADA on Wednesday said retail sales of passenger vehicles in November increased 1 per cent to 2,57,271 units against the same period last year, driven by festive demand during the month. According to Federation of Automobile Dealers Associations (FADA), passenger vehicles (PV) sales stood at 2,55,535 units in November 2018.Two-wheeler sales increased 3 per cent to 17,05,495 units last month as compared with 16,60,082 units in the year-ago period. Source ; Moneycontrol, Business Today, Livemint, Economics times |
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| AAVAS | General | 12-Dec-19 | HARYNACAP | Quarterly Results | 12-Dec-19 |
| ADHARSHILA | Quarterly Results | 12-Dec-19 | INFLAME | General | 12-Dec-19 |
| ADIEXRE | Quarterly Results | 12-Dec-19 | INTSTOIL | Quarterly Results | 12-Dec-19 |
| ARMANFIN | General;Quarterly Results | 12-Dec-19 | ISLCONSUL | Quarterly Results | 12-Dec-19 |
| BHAGYFN | Quarterly Results | 12-Dec-19 | JJFINCOR | Quarterly Results | 12-Dec-19 |
| BPCAP | General | 12-Dec-19 | JUNCTION | Preferential Issue of shares | 12-Dec-19 |
| CAPITALT | Quarterly Results | 12-Dec-19 | KILITCH | General | 12-Dec-19 |
| CENTRUM | Quarterly Results | 12-Dec-19 | KINGSINFR | General | 12-Dec-19 |
| CHOLAFIN | Interim Dividend;Preferential Issue | 12-Dec-19 | MATHEWE | Quarterly Results | 12-Dec-19 |
| DFL | Quarterly Results | 12-Dec-19 | MITSU | Bonus issue;Increase in Autho. Cap | 12-Dec-19 |
| ELCIDIN | Quarterly Results | 12-Dec-19 | MMWL | Quarterly Results | 12-Dec-19 |
| GANHOLD | Quarterly Results | 12-Dec-19 | NPRFIN | General;Quarterly Results | 12-Dec-19 |
| AAVAS | General | 12-Dec-19 | HARYNACAP | Quarterly Results | 12-Dec-19 |
Corporate Action
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| TRIDENT | 13-Dec-19 | Stock Split From Rs.10/- to Rs.1/- | INFRATEL | 19-Dec-19 | Interim Dividend – Rs. – 2.75 |
| BOROSIL | 18-Dec-19 | Dividend – Rs. – 0.65 | ABB | 20-Dec-19 | Spin Off |
| IBVENTURES | 18-Dec-19 | Buy Back of Shares | BALMLAWRIE | 26-Dec-19 | Bonus issue 1:2 |
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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