Outlook-2019-12-13

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


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