NIFTY:
The NIFTY finally had a good day, following through from its last half hour rally yesterday. The index closed at 11970 with decent gains. We must remember that today was weekly option expiry, leading to some volatility.
Yesterday, we had suggested that traders should go long above 11925. That trade should have been taken today. Our stops for the trade should be 11900. Today was a narrow range day. The NIFTY although it opened with a gap, moved in a narrow range after the open.
The narrow range day gives us a new entry point for traders who wish to add positions, or enter the market. Traders should look to buy above the height of 12005. your stops will remain the same – 11900.
VIEW:
Buy on a breakout above 12005 with a stop just below 11970.
Buy on a dip towards 11950 with a stop just below 11920.
TECHNICAL PICKS
| COMPANY | CMP | B/S | RATIONALE |
| ASIANPAINT | 1750.65 | 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 1739 and for the target of 1777. |
| INFY | 702.10 | SELL | The immediate trend of the stock is weak . The stock can be sell with a stop loss of 710 and for the target of 685. |
DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| TATAMOTORS | 170 CE | BUY | 9.35 | CMP | 6 | 16.50 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| POWERGRID.Dec 26 | 185.35 | 1.48 | 28.76 | 37820000 | IGL.Dec 26 | 408.6 | -1.71 | 14.68 | 7367250 | |
| HDFC.Dec 26 | 2327 | 0.11 | 13.23 | 33886250 | APOLLOHOSP.Dec 26 | 1387.5 | -0.66 | 13.02 | 1658000 | |
| MANAPPURAM.Dec 26 | 173.35 | 4.33 | 12.78 | 18696000 | UJJIVAN.Dec 26 | 330.5 | -3.02 | 12.59 | 10947200 | |
| TATAMOTORS.Dec 26 | 173.4 | 6.91 | 12.74 | 63564000 | TCS.Dec 26 | 2011.9 | -1.81 | 11.8 | 19981000 | |
| KOTAKBANK.Dec 26 | 1713 | 1.64 | 12.16 | 9549200 | NIFTYIT.Dec 26 | 15050 | -1.05 | 10.34 | 8000 | |
| Short Covering | Long unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| HEXAWARE.Dec 26 | 339.7 | 0.19 | -4.37 | 1213500 | MINDTREE.Dec 26 | 748.5 | -0.87 | -0.06 | 925200 | |
| SAIL.Dec 26 | 39.75 | 3.79 | -3.59 | 73764000 | ||||||
| JUSTDIAL.Dec 26 | 568 | 0.11 | -2.8 | 2185400 | ||||||
| YESBANK.Dec 26 | 39.95 | 2.44 | -1.82 | 2.35E+08 | ||||||
| NATIONALUM.Dec 26 | 43.3 | 2.24 | -1.39 | 43960000 | ||||||
Top Delivery Percentage
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Power Grid Corporation o | 184.75 | 1.65 | 35714953 | 18099577 | 82.05 | Nifty Metal | 2568.8 | 2.36 | 84501 | |
| HDFC BANK LTD. | 1263.6 | 1.19 | 6456574 | 4132402 | 74.76 | Nifty Auto | 7941.7 | 1.32 | 84501 | |
| Shree Cements Ltd. | 20086 | 0.58 | 12362 | 13335 | 73.59 | Nifty Bank | 31665.45 | 1.31 | 84501 | |
| ITC Ltd. | 238.55 | 0.4 | 10307052 | 9852065 | 71.39 | Nifty Pharma | 8045.35 | 0.97 | 84501 | |
| THE RAMCO CEMENTS | 775.15 | 0.29 | 164036 | 161856 | 69.65 | Nifty 50 | 11971.8 | 0.52 | 84498 | |
| COALINDIA | 190.15 | 1.6 | 8081188 | 5859886 | 68.78 | NIFTY SMLCAP 100 | 5604.85 | 0.47 | 84501 | |
| BRITANNIA IND LTD. | 3073.55 | 1.07 | 254614 | 210112 | 66.63 | Nifty FMCG | 30227.95 | 0.42 | 84501 | |
| CONTAINER CORP OF INDIA | 561.7 | 0.53 | 730744 | 732064 | 64.79 | Nifty Media | 1758.1 | 0.31 | 84501 | |
| Infosys Limited | 702.1 | -2.63 | 11112042 | 3829712 | 63.37 | INDIA VIX | 13.35 | -0.22 | 84501 | |
| Dabur India Ltd. | 457.7 | 1.4 | 974325 | 1274886 | 62.25 | Nifty IT | 14972.65 | -1.04 | 84501 | |
Upcoming Economic Data
| Domestic International | |
| •INR: WPI Inflation (YoY) (Nov) on 13th December 2019
•INR: FX Reserves, USD on 13th December 2019 |
•USA: Retail Sales (MoM) (Nov) on 13th December 2019
•USA: Export Price Index (MoM) (Nov) on 13th December 2019 |
News Updates
•Maruti Suzuki India joined hands with Federal Bank to provide dealer loans and customised auto retail financing solutions to customers. In August 2019, Maruti had inducted private lender Federal Bank as an approved partner for dealer inventory funding.
•A United States-based rights litigation firm has filed a class-action lawsuit against tech services giant Infosys for making “false” and “misleading” statements to the market. The lawsuit, filed by The Schall Law Firm, accused Chief Executive Salil Parekh of avoiding standard reviews of mega deals to get rid of scrutiny. It has been alleged that Infosys used improper recognition of revenue to boost short-term profits.
•Tech Mahindra on Thursday said it has bagged a smart city project worth Rs 500 crore from Pimpri Chinchwad Municipal Corporation (PCMC) in Pune.
•Cadila Healthcare share price rose 2 percent intraday on December 12 after the company launched an affordable oral anti-diabetic tablet in India, Vinglyn (Vildagliptin) & Vinglyn M (Vildagliptin plus metformin).The drug belongs to the class of oral anti-diabetic agents, known as DPP4 inhibitors, which have shown promise in achieving glycaemic comrol without deterioration in beta cell function and are one of the recent advancements in diabetes care and management.
Source ; Moneycontrol, Business Today, Livemint, Economics times
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| ABANSENT | Interim Dividend | 13-Dec-19 | HBPOR | Quarterly Results | 13-Dec-19 |
| ACTIONFI | Quarterly Results | 13-Dec-19 | INDIAHOME | Quarterly Results | 13-Dec-19 |
| AJCON | Quarterly Results | 13-Dec-19 | JOINDRE | Quarterly Results | 13-Dec-19 |
| APOLLOFI | Quarterly Results | 13-Dec-19 | KAJALSY | Quarterly Results | 13-Dec-19 |
| ASHFL | Quarterly Results | 13-Dec-19 | KHANDSE | General | 13-Dec-19 |
| AUBANK | General | 13-Dec-19 | KIFS | Quarterly Results | 13-Dec-19 |
| CHADPAP | Quarterly Results | 13-Dec-19 | KOTHARIFIN | Voluntary Delisting of Shares | 13-Dec-19 |
| CSLFINANCE | Quarterly Results | 13-Dec-19 | LADDERUP | Quarterly Results | 13-Dec-19 |
| FINKURVE | Quarterly Results | 13-Dec-19 | LOHIASEC | Quarterly Results | 13-Dec-19 |
| GARNETINT | Quarterly Results | 13-Dec-19 | MANCREDIT | Quarterly Results | 13-Dec-19 |
| GKB | Issue Of Warrants | 13-Dec-19 | MASTERTR | General;Quarterly Results | 13-Dec-19 |
| HBLEAS | Quarterly Results | 13-Dec-19 | NSIL | Quarterly Results | 13-Dec-19 |
| ABANSENT | Interim Dividend | 13-Dec-19 | HBPOR | Quarterly Results | 13-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
For Daily Share Market Updates, Daily debt market review, Market Research Analysis reports, Weekly Techno-Funda Report, Fundamental Analysis Report, Monthly Recommended stock Picks, Equity Trading Tips, Upcoming IPO/NFO/Bonds/Ncd’s updates & other related information Subscribe our research plan