Outlook-2019-12-12

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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