NIFTY:
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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