NIFTY:
The Nifty opened at 13571.45 with a gap up of 58 points. The index started moving on the downside after the open and moved down almost 100 points to record its intraday low around 13472.45. Around 1:00 PM, prices have started some recovery which lasts towards the end of the day’s trading session, and with the help of a rally of almost 80 points, the index closed at 13558.15 up by 44.30 points. The Media and Metal sectors have outperformed and closed higher while the Auto and Realty sectors have closed with losses.
On Friday we went long in the Nifty around 13400. The target for this trade was 13550. Fortunately for us, we opened higher above 13550. We usually close the trade five minutes after the open. We assume that the trade was closed at 13582. This was a very decent performance and a good trade. We would like to re-enter the market tomorrow on the longside, if the market allows us to do so. The idea is to buy a sharp correction that may occur intraday. If the Nifty dipped to 13500, we would be a buyer with a stop at 13450 with the target of 13620.If the index opens below 13500, we would buy if the index crosses this level.
BANK NIFTY:
Bank Nifty opened at 30735.15 with a gap up 135 points. The index traded very choppy and narrow for the whole day and finally closed at 30745 with a gain of about 140 points. PSU Banks have outperformed and closed higher by 1.77% points while Private Banks closed higher by 0.47%. Within the index in terms of points, ICICI Bank contributed highest while HDFC Bank contributed lowest. On Friday, we have mentioned a strong resistance around 30800. The index made numerous attempts to break this level decisively but could not sustain above 30800.
A trading range is between 30900 on the upside and 30200 on the downside. A breakout or breakdown from this range will give us a trade.
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TECHNICAL PICKS
| COMPANY | CMP | B/S | RATIONALE |
| BPCL | 405.45 | BUY | The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 397 and for the target 418. |
| LICHSGFIN | 363.60 | BUY | The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 358 and for the target 375. |
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DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| HINDPETRO | 225 CE | BUY | 11.70 | CMP | 9 | 14 | OI increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| BATAINDIA.20.12 Dec | 1636 | 4.44 | 24.18 | 1228700 | EICHERMOT.20.12 Dec | 2418.95 | -2.51 | 20.03 | 2844100 | |
| POWERGRID.20.12 Dec | 190.3 | 0.34 | 14.04 | 19724000 | HEROMOTOCO.20.12 Dec | 3095 | -2.32 | 12.43 | 4085400 | |
| ICICIGI.20.12 Dec | 1491.5 | 1.41 | 12.46 | 763300 | ESCORTS.20.12 Dec | 1339.45 | -1.94 | 11.43 | 2996400 | |
| NMDC.20.12 Dec | 116.65 | 4.71 | 11.42 | 37272100 | BHARATFORG.20.12 Dec | 544.05 | -1.67 | 9.3 | 5920500 | |
| MGL.20.12 Dec | 1085.35 | 2.17 | 11.24 | 1347600 | M&M.20.12 Dec | 715.35 | -2.12 | 8.78 | 15471400 | |
| Short Covering | Long Unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| ONGC.20.12 Dec | 102.4 | 5.3 | -5.14 | 46061400 | GODREJPROP.20.12 Dec | 1283.9 | -0.66 | -4.33 | 1335100 | |
| MUTHOOTFIN.20.12 Dec | 1196.6 | 1.68 | -4.38 | 4711500 | MINDTREE.20.12 Dec | 1441.1 | -0.11 | -1.82 | 1465600 | |
| TATAPOWER.20.12 Dec | 74.05 | 1.23 | -3.28 | 91692000 | M&MFIN.20.12 Dec | 172.85 | -0.14 | -0.59 | 17392200 | |
| UPL.20.12 Dec | 443.2 | 1.43 | -2.58 | 25108200 | ||||||
| TORNTPOWER.20.12 Dec | 335.6 | 3.2 | -1.9 | 4173000 | ||||||
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Infosys Limited | 1164.55 | 0.12 | 6728187 | 7059725 | 66.76 | Nifty Media | 1691.85 | 2 | 80430 | |
| Hdfc Ltd. | 2302.65 | 0.29 | 3160235 | 2921190 | 63.81 | Nifty Metal | 3189.5 | 1.38 | 80430 | |
| Icici Lombard General In | 1489.75 | 1.58 | 1086597 | 441898 | 63.33 | Nifty Energy | 17351.35 | 0.86 | 80430 | |
| Hdfc Life Insurance Comp | 655.75 | -1.32 | 2696137 | 3626977 | 57.79 | Nifty Pharma | 12459.9 | 0.76 | 80430 | |
| Icici Prudential Life In | 490.25 | -1.68 | 855417 | 1545529 | 57.73 | Nifty Bank | 30745.9 | 0.46 | 80430 | |
| Kotak Mahindra Bank Limi | 1939.35 | 0.99 | 3456971 | 3114300 | 56.97 | Nifty it | 22746.7 | 0.36 | 80430 | |
| Hdfc Bank Ltd. | 1372.15 | -0.77 | 8611025 | 5982146 | 56.02 | Nifty 50 | 13558.15 | 0.33 | 80430 | |
| Hindustan Unilever Ltd | 2370.75 | -0.17 | 1575632 | 1353372 | 51.83 | Nifty Fmcg | 34411.65 | 0.14 | 80430 | |
| Power Grid Corporation o | 194.3 | 0.62 | 11428254 | 4258548 | 50.89 | Nifty Realty | 289.9 | -0.89 | 80430 | |
| Ambuja Cements Ltd | 246.45 | 0.26 | 4162472 | 3995242 | 50.36 | Nifty Auto | 9093.1 | -1.04 | 80430 | |
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UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: Trade Balance (Nov)) on 15th December, 2020
INR: FX Reserves, USD on 18th December, 2020 |
•USD: Industrial Production (YoY) (Nov) on 15th December, 2020
•USD: API Weekly Crude Oil Stock on 16th December, 2020 |
NEWS UPDATES
| •Indian Retail inflation showed signs of easing in November, led by easing prices of some food items. Consumer Price Index inflation stood at 6.93% in November 2020 compared to 7.61% in October, according to data released by the Ministry of Statistics and Program Implementation on Monday.
•Tata Sons, India’s autos-to-steel conglomerate, is expected to submit an initial bid for state-run carrier Air India ahead of the auction’s deadline on Monday evening, sources aware of the matter told Reuters. Prime Minister Narendra Modi’s government in January renewed its push to sell its entire interest in the loss-making airline, which has been kept aloft by a bailout since 2012. •As 2020 draws to a close, travel firms are witnessing 25-30% increase in bookings — both for air travel and accommodations — for holidays during the Christmas and New Year. Destinations close to dwelling city is top priority but travellers have started booking for domestic as well as international destinations which require air travel, albeit short haul. •Siemens on Monday said it will provide advanced marine solutions for 23 electric boats of Cochin Shipyard. “India’s largest and most advanced shipbuilder Cochin Shipyard Ltd selected Siemens to implement advanced marine solutions for India’s first fleet of 23 boats equipped with electric propulsion and battery integrated technology,” a Siemens statement said. •Source: Economic Times, Moneycontrol ,Business Today, Livemint, Business Standard, Bloomberg Quint |
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BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| GOPALA | General;Preferential Issue of shares | 15-Dec-20 | ENKEIWHEL | General | 16-Dec-20 |
| GRMOVER | General;Preferential Issue | 15-Dec-20 | FEL | Quarterly Results | 16-Dec-20 |
| KARDA | General | 15-Dec-20 | FELDVR | Quarterly Results | 16-Dec-20 |
| MJCO | Interim Dividend | 15-Dec-20 | PGEL | General | 16-Dec-20 |
| MTEDUCARE | General;Quarterly Results | 15-Dec-20 | REMISIN | Voluntary Delisting of Shares | 16-Dec-20 |
| NAVBLDR | General | 15-Dec-20 | ANISHAIMPEX | General | 17-Dec-20 |
| OSWALOR | General | 15-Dec-20 | PTIL | Audited Results;Quarterly Results | 17-Dec-20 |
| RISHILASE | General | 15-Dec-20 | SBTL | A.G.M.;Audited Results;General | 17-Dec-20 |
| SMGOLD | General | 15-Dec-20 | VSL | General | 17-Dec-20 |
| SPANDANA | General | 15-Dec-20 | BITL | General | 18-Dec-20 |
| SUPRAP | General | 15-Dec-20 | JIYAECO | Quarterly Results | 18-Dec-20 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| APLAPOLLO | 15-Dec-20 | Stock Split From Rs.10/- to Rs.2/- | POWERGRID | 17-Dec-20 | Interim Dividend – Rs. – 5.00 |
| NICCOPAR | 16-Dec-20 | Annual Book Closure | ASHOKALC | 18-Dec-20 | Dividend – Rs. – 0.50 |
| RESPONIND | 16-Dec-20 | Final Dividend – Rs. – 0.0700 | BCG | 18-Dec-20 | Final Dividend – Rs. – 0.0500 |
| SHRISTI | 16-Dec-20 | Dividend – Rs. – 0.2500 | ENERGYDEV | 18-Dec-20 | Dividend – Rs. – 0.50 |
| TRESCON | 16-Dec-20 | Dividend | JAICORPLTD | 18-Dec-20 | Dividend – Rs. – 0.50 |
| VISHAL | 16-Dec-20 | Bonus issue 1:2 | VRL | 18-Dec-20 | Dividend – Rs. – 1.50 |
| AARNAV | 17-Dec-20 | Dividend – Rs. – 0.50 | NIKHILAD | 21-Dec-20 | Final Dividend – Rs. – 1.00 |
| EASTWEST | 17-Dec-20 | Dividend – Rs. – 0.0500 | ANANTRAJ | 22-Dec-20 | Dividend – Rs. – 0.0800 |
| HAL | 17-Dec-20 | Interim Dividend – Rs. – 15.00 | BAMBINO | 22-Dec-20 | Dividend – Rs. – 1.60 |
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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