NIFTY:
The Nifty opened at 14639.80 with a gap up of 76 points. Initially prices have shown some strength but that fizzles out quickly. The index recorded its intraday high at 14653.35 and then fell down. A sharp decline of more than 200 points came and prices have recorded its intraday low at 14435.70. However prices have recovered from the losses in the last one and a half hours of trading and finally closed at 14564.85 almost at yesterday’s closing price. The Bank Nifty and Auto sectors have performed better and closed higher while Pharma, Realty and Financials have seen a decline and closed lower.
A gap up in the Nifty did not sustain. The index continued making lifetime new highs and the new high was recorded at 14653.35. The intraday movement was very volatile and prices have seen a down move of more than 200 points while an up move of almost 150 points. Today is the F&O weekly expiry and we may see volatility.
Fresh trading opportunities may emerge after a sharp dip. Support is visible around 14000. A dip towards this support may give us a buying opportunity. However we do not expect such a sharp dip anytime soon. Hence we should take only intraday trades for the time being.
BANK NIFTY:
Bank Nifty opened at 32546.60 with a gap up of 205 points. Prices first moved up and recorded its intraday high at 32683.50. Prices then saw a sharp decline of more than 500 points and recorded its intraday low at 32148.25. Prices have recovered in the last one and a half hour of trading and finally closed at 32574.
PSU Banks have continued to perform better and closed higher by 3.27%. Private Banks remains subdued and closed higher by just 0.11%. Within the index, in terms of points SBI Contributed highest while Kotak Bank the lowest. Bank Nifty continued its outperformance compared to Nifty. We had taken a long position around 32300 with the target of 33100, trade is intact.
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TECHNICAL PICKS
| COMPANY | CMP | B/S | RATIONALE |
| CANBK | 144.80 | BUY | The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 143 and for the target 149. |
| GODREJCONS | 770.55 | BUY | The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 755 and for the target 790. |
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DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| BHEL | 41CE | BUY | 2.70 | CMP | 2.30 | 3.40 | OI increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| HDFCAMC.21.01 Jan | 3246.25 | 0.83 | 19.11 | 274200 | BANDHANBNK.21.01 Jan | 377 | -3.8 | 18.26 | 20926800 | |
| BHARATFORG.21.01 Jan | 628.35 | 0.71 | 15.53 | 6439500 | LICHSGFIN.21.01 Jan | 439.25 | -0.37 | 16.31 | 7318000 | |
| TATACHEM.21.01 Jan | 546 | 3.84 | 12.43 | 10510000 | ICICIGI.21.01 Jan | 1555.7 | -1.13 | 12.43 | 726325 | |
| UBL.21.01 Jan | 1288 | 2.91 | 10.83 | 1983800 | GODREJPROP.21.01 Jan | 1436.9 | -3.03 | 12.26 | 1505400 | |
| PNB.21.01 Jan | 36.75 | 0.27 | 10.28 | 171200000 | MUTHOOTFIN.21.01 Jan | 1240.65 | -3.3 | 10.89 | 5024250 | |
| Short Covering | Long Unwinding | |||||||||
| Stocks | Price | Price% | OI% | OI | Stocks | Price | Price % | OI % | OI | |
| BANKNIFTY.21.01 Jan | 32649.15 | 0.6 | -8.71 | 1433950 | HDFCBANK.21.01 Jan | 1476.5 | -0.59 | -5.1 | 31557900 | |
| IOC.21.01 Jan | 101.4 | 3.05 | -5.82 | 43147000 | MGL.21.01 Jan | 1120 | -1.11 | -3.99 | 1632000 | |
| INDUSINDBK.21.01 Jan | 947.65 | 1.71 | -4.44 | 14851800 | COALINDIA.21.01 Jan | 145.9 | -1.02 | -3.69 | 26724600 | |
| NESTLEIND.21.01 Jan | 18100 | 0.04 | -1.52 | 328150 | ESCORTS.21.01 Jan | 1368.25 | -1.03 | -3.64 | 3278550 | |
| ZEEL.21.01 Jan | 229.15 | 1.06 | -1.32 | 29475000 | IBULHSGFIN.21.01 Jan | 233.75 | -0.89 | -3.26 | 29871600 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Power Grid Corporation o | 205 | 0.64 | 13383333 | 12885535 | 72.83 | Nifty Auto | 10208.55 | 0.88 | 83040 | |
| Asian Paints Limited | 2703.7 | -0.62 | 2862676 | 4750700 | 71.17 | Nifty Bank | 32574.65 | 0.73 | 83040 | |
| Kotak Mahindra Bank Limi | 1882.1 | -1.12 | 5583130 | 4104074 | 68 | Nifty Energy | 17430.15 | 0.58 | 83040 | |
| Container Corp Of India | 439.5 | -1.37 | 2745987 | 2681984 | 63.52 | Nifty Metal | 3523.25 | 0.38 | 83040 | |
| Icici Lombard General In | 1549 | -1.08 | 554839 | 281271 | 62.24 | Nifty Fmcg | 34617.6 | 0.37 | 83040 | |
| Hindustan Unilever Ltd | 2372.35 | -0.15 | 1702740 | 1215052 | 59.66 | Nifty Media | 1759.05 | 0.32 | 83040 | |
| Sbi Life Insurance Compa | 926.55 | 0.17 | 1996557 | 926643 | 58.9 | Nifty it | 27004.3 | 0.08 | 83040 | |
| Nestleind | 18019.3 | 0.11 | 109387 | 81815 | 57.79 | Nifty 50 | 14564.85 | 0.01 | 83040 | |
| Hdfc Ltd. | 2670.9 | -2.79 | 5582165 | 1944551 | 56.99 | Nifty Realty | 337.6 | -0.31 | 83040 | |
| Dabur India Ltd. | 536.1 | -0.91 | 2933547 | 1965404 | 50.95 | Nifty Pharma | 13122.55 | -0.92 | 83040 | |
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UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: WPI Inflation (YoY) (Dec) on 14th January, 2021
INR: Trade Balance on 15th January, 2021 |
•USD : Initial Jobless Claims on 14th January, 2021
•USD : Fed Chair Powell Speaks on 14th January, 2021 |
NEWS UPDATES
| •Infosys on Wednesday reported a 16.60 per cent year-on-year (YoY) growth in its consolidated net profit at Rs 5,197 crore for the third quarter of the financial year 2021 (Q3FY21). The firm had posted a net profit of Rs 4,457 crore in the same period last year. On a sequential basis, the profit rose 7.3 per cent per cent from Rs 4,845 crore posted for the September 2020 quarter. The company’s revenue came in at Rs 25,927 crore, up 12.27 per cent YoY and 5.52 per cent QoQ. In constant currency terms, the revenue grew 5.3 per cent which was its its highest Q3 sequential growth in 8 years.
•Wipro reported a consolidated profit of Rs 2,966.70 crore for the October-December quarter, rising 20.8 percent compared to Rs 2,455.80 crore in the corresponding quarter of the previous year. Consolidated revenue for the quarter stood at Rs 15,670 crore, which was higher by 1.3 percent compared to Rs 15,470.50 crore reported in the Q3FY20. •Dixon Technologies has bagged a contract to manufacture Nokia branded mobile phones and smart TVs, besides other agreements with TV companies including Intex, Lloyd and Toshiba. Dixon’s wholly-owned subsidiary Padget Electronics, which started assembling LG smartphones in Noida factory in July this year, is set to start assembling for HMD Global, the maker of Nokia phones as well as for Lenovo-owned Motorola. Besides this, LED TVs of brands including Nokia, Intex, Lloyd and Toshiba will be manufactured in Dixon’s Chittor factory. Source: Economic Times, Moneycontrol ,Business Today, Livemint, Business Standard, Bloomberg Quint |
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BOARD MEETING
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| DEN | Quarterly Results | 14-Jan-21 | BIRLAMONEY | Quarterly Results | 15-Jan-21 |
| DGCONTENT | Quarterly Results | 14-Jan-21 | GAIL | Interim Dividend;Buy Back of Shares | 15-Jan-21 |
| FIBERWEB | General | 14-Jan-21 | GGL | Quarterly Results | 15-Jan-21 |
| HFCL | Quarterly Results | 14-Jan-21 | HATHWAY | Quarterly Results | 15-Jan-21 |
| KESORAMIND | General | 14-Jan-21 | HCLTECH | Interim Dividend;Quarterly Results | 15-Jan-21 |
| RIIL | General;Quarterly Results | 14-Jan-21 | IL&FSENGG | General | 15-Jan-21 |
| TATASTLLP | Audited Results | 14-Jan-21 | INDOASIAF | Preferential Issue;Quarterly Results | 15-Jan-21 |
| WEBELSOLAR | Quarterly Results | 14-Jan-21 | L&TFH | Quarterly Results | 15-Jan-21 |
| 3IINFOTECH | General | 15-Jan-21 | MSCTC | Quarterly Results | 15-Jan-21 |
| BAJRFIN | Voluntary Delisting of Shares | 15-Jan-21 | NEXTMEDIA | Quarterly Results | 15-Jan-21 |
| BGJL | Quarterly Results | 15-Jan-21 | ONWARDTEC | Quarterly Results | 15-Jan-21 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| INDTONER | 14-Jan-21 | Buy Back of Shares | IRBINVIT | 20-Jan-21 | Income Distribution (InvIT) |
| INFRATRUST | 14-Jan-21 | Income Distribution (InvIT) | HCLTECH | 21-Jan-21 | Interim Dividend |
| SVPGLOB | 14-Jan-21 | Stock Split From Rs.10/- to Rs.1/- | TAALENT | 21-Jan-21 | Interim Dividend |
| TCS | 14-Jan-21 | Interim Dividend – Rs. – 6.00 | CESC | 22-Jan-21 | Interim Dividend – Rs. – 45.00 |
| URJAGLOBA | 14-Jan-21 | Right Issue of Equity Shares | TIRUSTA | 22-Jan-21 | E.G.M. |
| ARCHIDPLY | 18-Jan-21 | Buy Back of Shares | WIPRO | 22-Jan-21 | Interim Dividend – Rs. – 1.00 |
DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014
Elite Wealth Ltd. 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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