2020-12-15-OutlookNIFTY:

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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