2021-01-15-OUTLOOKNIFTY:

The Nifty opened higher at 14550.05 with a minor gap down of just 14 points. The index moved further on the downside and recorded its intraday low at 14471.50. Prices then saw a modest rally for the whole day of about 146 points and recorded its intraday high at 15617.80. The index finally closed at 14595.60 just a tad below 14600 up by 30.75 points. The Auto, FMCG and Pharma sectors have performed better and closed with gains, The rest of the sectoral indices have closed lower.

Nifty continued trading volatile on a weekly expiry day and the index closed just below 14600. The Nifty witnessed some modest recovery after the initial sharp fall.

A narrow trading range is now visible at the top of this rally. Boundaries of this range are 14550 as support and 14650 as resistance. Since the trend is very strong, we should look to buy on a breakout of this range.

For today, buy on a breakout if prices move above 14650. In case of a gap up above 14650, wait for the first 15 minutes of high and then buy above this high. Keep a stop of 100 points and target of 200 points.

BANK NIFTY:

Bank Nifty opened at 32526.70 with a gap down of just 25 points. Prices first move up and recorded its intraday high at 32718.95. Prices then saw a slow and modest decline to record its intraday low at 32442.35. The index have seen a sharp recovery in the last 30 minutes of trading.

PSU Banks have continued to perform better and closed higher while Private Banks have closed lower. In terms of points, Indusind Bank contributed highest while Axis Bank the lowest.

The index traded very narrow. This narrow movement may resolve up or down soon. Since the trend is very strong on the upside we may see a sharp move soon.

Traders can look to buy on a dip towards 32300 or breakout above 32750.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
AUROPHARMA 959.25 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 945 and for the target 980.
HINDPETRO 233.60 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 229 and for the target 240

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
INDIGO 1650 CE BUY 84.05 CMP 70 105 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
VOLTAS.21.01 Jan 912.95 1.3 15.52 2218000 LALPATHLAB.21.01 Jan 2351.3 -2.33 15.75 215000
LUPIN.21.01 Jan 1107 3.2 12.94 9118800 APOLLOTYRE.21.01 Jan 191.3 -0.8 14.56 12195000
IOC.21.01 Jan 103.7 2.27 11.44 46429500 WIPRO.21.01 Jan 451.4 -1.54 14.54 42121600
CADILAHC.21.01 Jan 507.25 3.92 11.33 10267400 PAGEIND.21.01 Jan 29100.05 -0.08 11.81 70710
MRF.21.01 Jan 90200 4.89 11.03 60400 HCLTECH.21.01 Jan 1032 -2.57 11.16 22225000
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
PNB.21.01 Jan 37.15 0.95 -3.31 161472000 FINNIFTYW.21.01 Jan 15607 -0.25 -23.94 35720
BALKRISIND.21.01 Jan 1712.9 0.93 -2.52 1761200 BHEL.21.01 Jan 40.25 -1.59 -5.61 110649000
UPL.21.01 Jan 511.4 3.49 -2.41 18020600 CANBK.21.01 Jan 143.2 -1.48 -3.46 49836600
EXIDEIND.21.01 Jan 204.2 1.29 -2.39 13248000 MOTHERSUMI.21.01 Jan 167.25 -0.59 -2.13 26635000
SBIN.21.01 Jan 308.55 0.13 -2.2 70320000 BERGEPAINT.21.01 Jan 796 -0.51 -1.17 2233000

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Aarti Industries Ltd. 1265.15 -1.25 276643 345847 70.25 Nifty Energy 17669.4 1.37 83853
Kotak Mahindra Bank Limi 1892.65 0.56 4803638 3885206 69.59 Nifty Pharma 13232.55 0.84 83853
Power Grid Corporation o 205.1 0.05 6763881 7658876 57.23 Nifty Fmcg 34885.7 0.77 83853
Hdfc Ltd. 2684.05 0.49 4253567 3127974 56.04 Nifty Auto 10238.3 0.29 83853
Larsen & Toubro Limited 1376.6 1.78 5168591 2333312 53.15 Nifty 50 14595.6 0.21 83850
Icici Lombard General In 1554.7 0.37 299112 292969 52.8 Nifty Realty 337.4 -0.06 83853
Tata Consultancy Serv Lt 3250.7 2.9 6931542 1857249 51.98 Nifty it 26965.55 -0.14 83853
Divi S Laboratories Limi 3724.7 0.14 826368 580710 50.83 Nifty Bank 32519.75 -0.17 83853
Hdfc Life Insurance Comp 706.9 -0.89 1995368 1289160 48.84 Nifty Media 1754.95 -0.23 83853
Hdfc Asset Management Co 3315.2 2.13 435489 201627 45.77 Nifty Metal 3487.4 -1.02 83853

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UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR:  Bank Loan Growth YoY on 15th January, 2021

INR:  Trade Balance on 15th January, 2021

•USD : Building Permits (Dec) on 21st January, 2021

•USD : Philadelphia Fed Manufacturing Index (Jan) on 21st January, 2021

NEWS UPDATES

•Automobile exports from India declined 18.87% in 2020, a year marked by coronavirus pandemic induced disruptions across the globe, according to the latest figures by Society of Indian Automobile Manufacturers (SIAM). Overseas shipments of vehicles in the January-December period last year stood at 38,65,138 units as against 47,63,960 units in the same period in 2019, SIAM said. One of the main reasons for the drop in automobile exports was the dip in shipments of passenger vehicles, which were down 39.38% last year at 4,28,098 units as compared to 7,06,159 units in 2019.

•The residential sales volume is expected to decline by 35-40% in FY2021 mentioned a recent report by ICRA However sales is expected to witness some normalization, resulting in YoY growth of 40-45%, which would take overall sales close to 85-90% of pre-covid (FY2020) levels.

•Adani Enterprises Limited (AEL) has won a Rs 1,838-crore highway project from the National Highways Authority of India (NHAI) in Kerala. The project granted under the Hybrid Annuity Mode (HAM) is part of the Bharatmala Pariyojna of the Centre.

•Crude oil prices rose by Rs 17 to Rs 3,888 per barrel on Thursday as participants widened their positions on firm spot demand. On the Multi Commodity Exchange, crude oil for Thursday delivery traded higher by Rs 17, or 0.44 per cent, at Rs 3,888 per barrel in 2,114 lots.

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
3IINFOTECH General 15-Jan-21 L&TFH Quarterly Results 15-Jan-21
AGARIND General;Preferential Issue of shares 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
BIRLAMONEY Quarterly Results 15-Jan-21 PLASTIBLEN Quarterly Results 15-Jan-21
GAIL Interim Dividend;Buy Back of Shares 15-Jan-21 PVR Quarterly Results 15-Jan-21
GGL Quarterly Results 15-Jan-21 SHOPERSTOP Quarterly Results 15-Jan-21
HATHWAY Quarterly Results 15-Jan-21 VENUSREM General 15-Jan-21
HCLTECH Interim Dividend;Quarterly Results 15-Jan-21 VGUARD General 15-Jan-21
IL&FSENGG General 15-Jan-21 YAARII Quarterly Results 15-Jan-21
INDOASIAF Preferential Issue;Quarterly Results 15-Jan-21 ZARDIINV Quarterly Results 15-Jan-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ARCHIDPLY 18-Jan-21 Buy Back of Shares WIPRO 22-Jan-21 Interim Dividend – Rs. – 1.0000
IRBINVIT 20-Jan-21 Income Distribution (InvIT) DCMSHRIRAM 27-Jan-21 Interim Dividend
HCLTECH 21-Jan-21 Interim Dividend GMM 28-Jan-21 Interim Dividend
TAALENT 21-Jan-21 Interim Dividend HAVELLS 28-Jan-21 Interim Dividend
CESC 22-Jan-21 Interim Dividend – Rs. – 45.0000 SHREERAMA 28-Jan-21 E.G.M.
TIRUSTA 22-Jan-21 E.G.M. SRF 29-Jan-21 Interim Dividend


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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