The Nifty opened at 13512.30 with a gap up of 34 points. Prices have first moved up and recorded its intraday high at 13579.35. Prices then traded sideways and narrow till the afternoon. Around 1:00, the index started a down move and recorded its intraday low at 13402.85. However, prices have recovered from this down move in the last hour of trading and finally closed at 13513.85. The FMCG and Metal sectors have continued moving higher while Pharma and IT have underperformed.
We had given a trade to buy Nifty at a dip around 13400 with a stop at 13300 and for the of 13550. We have identified 13400 as a strong support. Markets fell from its high found support and then bounced back up. Assuming traders are long in the index at that level, shit the stop to 13400.
The long term trend is up as the markets are making new lifetime highs again and again. Long term momentum remains up and remains in the strength area. Intermediate momentum has slightly fallen suggesting that perhaps some kind of dip or consolidation may take place.
Bank Nifty opened at 30555.30 with a gap up of 41 points. The index first moved up and recorded its intraday high at 30811.80 and then started a decline. The index moved down almost 500 points and finally closed at 30600.
PSU Banks have outperformed and closed higher by 1% while Private Banks also closed higher by 0.32%. Within the index, in terms of points, ICICI Bank contributed highest while Axis Bank the lowest.
Bank Nifty is finding strong resistance around 30800 in the last three trading days. This may be the upper level of a likely consolidation.
Support is visible first at 29800 and then around 28800.
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|PNB||40.50||BUY||The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 39 and for the target 43.|
|TITAN||1442.40||BUY||The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 1420 and for the target 1480.|
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|STOCK OPTION||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|INDUSIND BANK||920 CE||BUY||50.85||CMP||43||65||OI increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|ONGC.20.12 Dec||97.25||5.59||18.4||48556200||TVSMOTOR.20.12 Dec||486||-2.72||14.53||5847800|
|NATIONALUM.20.12 Dec||42.85||1.9||13.26||48365000||ACC.20.12 Dec||1616.55||-1.54||11.93||3387500|
|GAIL.20.12 Dec||126.45||4.81||12.31||22319900||HEROMOTOCO.20.12 Dec||3168.35||-0.43||6.77||3633600|
|IDEA.20.12 Dec||10.2||3.03||9.67||673820000||CONCOR.20.12 Dec||401.95||-0.46||6.44||11413026|
|NMDC.20.12 Dec||111.4||2.77||8.97||33453100||PAGEIND.20.12 Dec||23668.65||-3.16||6.19||77670|
|Short Covering||Long Unwinding|
|ICICIPRULI.20.12 Dec||499.8||0.09||-14.03||4275000||INFRATEL.20.12 Dec||244.45||-0.49||-8.02||9951200|
|LICHSGFIN.20.12 Dec||352.7||1.57||-12.26||9650000||BOSCHLTD.20.12 Dec||13183.15||-0.59||-7.29||197650|
|PNB.20.12 Dec||39.2||2.48||-9.93||94948000||PVR.20.12 Dec||1466.7||-0.92||-6.6||1318273|
|HDFCLIFE.20.12 Dec||665.05||0.57||-9.43||14762000||AUROPHARMA.20.12 Dec||897.85||-0.32||-4.96||10145200|
|CUMMINSIND.20.12 Dec||583.35||0.73||-9.26||1776000||MFSL.20.12 Dec||634.3||-1.15||-4.92||6173700|
TOP DELIVERY PERCENTAGE
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|Sbi Life Insurance Compa||849.7||-0.74||1939950||1558024||67.66||Nifty Energy||17204.05||1.61||4201785|
|Icici Lombard General In||1466.55||1.16||697751||369739||64.22||Nifty Metal||3146.1||1.06||204157232|
|Icici Prudential Life In||498.65||0.42||2677102||2392444||59.91||Nifty Fmcg||34364.85||0.91||1190868|
|Infosys Limited||1163.2||-0.39||10574009||5527270||58.25||Nifty Realty||292.5||0.78||2147483500|
|Max Financial Services l||634.1||-0.7||1699797||1246600||55.84||Nifty Media||1658.7||0.76||386641383|
|Hdfc Ltd.||2295.9||0.3||4577813||1419898||55.79||Nifty Bank||30604.85||0.31||20983208|
|Hdfc Bank Ltd.||1382.8||-0.22||10678192||5410504||54.85||Nifty 50||13513.85||0.26||47525598|
|Petronet Lng Limited||261.6||2.63||4131904||2895588||52.38||Nifty Auto||9188.95||-0.13||69727372|
|Larsen & Toubro Limited||1194.3||0.33||6689415||2375196||48.26||Nifty it||22664||-0.4||1429917|
|Power Grid Corporation o||193.1||0.18||8367957||3678296||48.04||Nifty Pharma||12366||-0.6||51766754|
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UPCOMING ECONOMIC DATA
|INR: WPI inflation (YoY) (Nov) on 14th December,2020
INR: CPI (YoY) (Nov) on 14th December,2020
|•USD: OPEC monthly report on 14th December, 2020
•USD: Investing.com S&P 500 Index on 14th December,2020
|•The proposed restructuring of the $8.5-billion TVS Group is said to be to pave way for a smooth transition of the business to the fourth generation, according to sources close to family members of the group. Family members of the group decided to go for restructuring by giving each family group complete ownership of businesses they manage and scrapping the holding company.
•Fitch Ratings has upgraded Indian Renewable Energy Development Agency Ltd’s (IREDA) long-term foreign and local-currency Issuer Default Ratings (IDRs) from ‘BB+’ to ‘BBB-‘ with the government consistently guaranteeing the high level of the entity’s debt. IREDA is the flagship government-related entity (GRE) under the administrative control of the Ministry of New and Renewable Energy (MNRE). The company provides financing for and encourages investments in the renewable energy sector in India.
•Mumbai-based Cipla on Friday said that the settlement of its patent litigation with a Bristol Myers Squibb (BMS) subsidiary on Revilimid or a drug for blood cancer.Calgene, a wholly-owned subsidiary of BMS, has agreed to provide Cipla with a license to Calgene’s patents required to manufacture and sell certain limited volumes of generic lenalidomide (a drug sold under the name Revilimid that treats myeloma, a cancer that forms in the blood plasma cell), in the US.
•Source: Economic Times, Moneycontrol ,Business Today, Livemint, Business Standard, Bloomberg Quint
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|SHIVACEM||Increase in Authorised Capital;Preferential Issue of shares||14-Dec-20||SMGOLD||General||15-Dec-20|
|GOPALA||General;Preferential Issue of shares||15-Dec-20||SPANDANA||General||15-Dec-20|
|GRMOVER||IssueOfWarrants;General;Preferential Issue of shares||15-Dec-20||SUPRAP||General||15-Dec-20|
|Company Name||Ex-Date||Purpose||Company Name||Ex-Date||Purpose|
|GOODYEAR INDIA LTD.||14-Dec-20||Interim Dividend – Rs. – 80.0000||Trescon Ltd||16-Dec-20||Dividend|
|APL APOLLO TUBES LTD.||15-Dec-20||Stock Split From Rs.10/- to Rs.2/-||Vishal Fabrics Ltd||16-Dec-20||Bonus issue 1:2|
|NICCO PARKS & RESORTS LTD.-$||16-Dec-20||Annual Book Closure||Aarnav Fashions Ltd||17-Dec-20||Dividend – Rs. – 0.5000|
|RESPONSIVE INDUSTRIES LTD.||16-Dec-20||Final Dividend – Rs. – 0.0700||East West Holdings Ltd||17-Dec-20||Dividend – Rs. – 0.0500|
|SHRISTI INFRASTRUCTURE DEVELOPMENT CORPORATION LTD.||16-Dec-20||Dividend – Rs. – 0.2500||Hindustan Aeronautics Ltd||17-Dec-20||Interim Dividend – Rs. – 15.0000|
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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