outlook-2020-01-16

 

NIFTY:

The nifty had an intraday correction of some decent magnitude, when it fell almost 70 points from its close yesterday. Not surprisingly, support cane in almost exactly at the previous lifetime high of 12290. The nifty in fact recorded an intraday low of 12279, almost stopping its decline at the previous life time high mentioned above.

Yesterday and for many days before that we have been saying: the trend is up, buy in dips. Sometime , a running correction gives you only intraday dips.

It is said that a broken clock is right twice a day. In the same way, beers and traders who stand opposite the trend will be righr someday. But the chances are they may be right after being wrong many times. The trend is your friend.

VIEW:

Buy on a breakout above 12375 with a stop just below 12350.

Buy on  a dip towards 12300 with a stop just below 12270.

TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
     UBL 1310.50 BUY The stock has given the breakout with volume  on the intraday as well as on the daily chart. The stock can be bought at CMP with a stop loss of  1294 and for the target of  1340.
     COALINDIA 212.45 SELL The immediate trend of the stock is weak . The stock can be sold  below 211.30 with a stop loss of  214.70 and for  the target of  206.

 

DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
GAIL 130 CE BUY 4.15 CMP 2.80 10 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI   Stocks Price Price% OI % OI
NTPC.Jan 30 124.1 0.45 27.96 50150400 INDUSINDBK.Jan 30 1406.9 -5.47 17.19 14624400
CASTROLIND.Jan 30 134.2 4.07 16.92 8130300 HAVELLS.Jan 30 644.7 -1.1 6.72 6293000
YESBANK.Jan 30 37.15 5.39 15.02 258561600 MRF.Jan 30 66649.3 -0.53 6.12 20630
IGL.Jan 30 447 5.16 10.38 9589250 EQUITAS.Jan 30 105.4 -1.31 3.75 18169200
RAMCOCEM.Jan 30 829.65 0.25 10.22 1484000 SRTRANSFIN.Jan 30 1103.3 -2.53 3.55 4377600
                                                                        Short Covering                                                                            Long unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
AMARAJABAT.Jan 30 774.85 1.78 -10.22 1404800 NIFTYIT.Jan 30 16224 -0.45 -10.74 6650
BEL.Jan 30 104.25 3.89 -6.02 28404000 CONCOR.Jan 30 558.15 -2.02 -6.31 5919081
HEROMOTOCO.Jan 30 2480.35 2.48 -5.89 3670800 IDEA.Jan 30 6.05 -1.63 -4.87 4.12E+08
JUSTDIAL.Jan 30 576.25 0.85 -5.46 2084600 BIOCON.Jan 30 282.55 -0.16 -4.39 11366600
NMDC.Jan 30 131.05 4.21 -5.3 22920000 NIFTY.Jan 30 12378.05 -0.15 -3.55 13072350

 

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Petronet LNG Limited 276.65 -0.38 3201899 4030894 79.32   INDIA VIX 14.12 1.51 254439409
Kotak Mahindra Bank Limi 1675.6 -0.07 2490245 1519525 71.11 Nifty Auto 8385.35 1.16 43055584
MARICO LIMITED 345.5 0.26 1239513 1149773 67.86 Nifty Media 1837 0.81 196046289
HDFC BANK LTD. 1284.25 -0.41 5893724 2573348 65.26 Nifty Metal 2921.45 0.72 123535569
Power Grid Corporation o 194.25 -0.51 4001958 2167894 64.29 Nifty Pharma 8166.2 0.61 44119873
ITC Ltd. 242.4 -0.35 5476729 7543081 63.69   Nifty FMCG 31237.1 0.29 662250
HDFC Ltd. 2488.6 -0.15 2279961 1603409 62.9   Nifty IT 16346.85 -0.09 1626423
Colgate Palmolive (India 1508.95 0.42 648059 764173 62.45   Nifty 50 12343.3 -0.15 29162745
Bharti Airtel Limited 467.85 -0.32 10674839 5037091 62.29   Nifty Energy 16019 -0.21 1177979
Hindustan Unilever Ltd 2021.65 0.64 1559491 1003279 62.29   Nifty Bank 31824.9 -0.77 11284237

 

Upcoming Economic Data

   Domestic                                                                                                                                                  International
•INR: FX Reserves, USD on 17th January 2020 •USA: Retail Sales (MoM) (Dec)  on 16th January 2020

•USA: Building Permits (Dec)  on 17th January 2020

 

News Updates

•L&T Infotech  reported a marginal rise in its net profit at Rs 376.7 crore for the quarter ended December 31, 2019.The company had clocked a consolidated net profit after tax of Rs 375.5 crore in the year-ago period. The consolidated income during October-December quarter increased to Rs 2,875.3 crore over Rs 2,503.8 crore in the year-ago period.

•Bharti Airtel has announced allotment of 32.35 crore equity shares to eligible institutional buyers at an issue price of Rs 445 per share as part of $2 billion (over Rs 14,000 crore) qualified institutional placement that closed on Tuesday. The issue price was at a discount of 1.57 per cent to the stated floor price of Rs 452.09 per equity share.

•The share price of Piramal Enterprises rose 6 percent intraday on January 15 after a media report said that the company’s subsidiary had raised Rs 1,400 crore from banks. NBFC Piramal Capital & Housing Finance raised Rs 900 crore from Union Bank of India and Bank of India at 8.9 percent for five years and Rs 500 crore from IndusInd Bank for a year at 9 percent to meet the obligations.

•The Nifty Realty index outperformed every other sectoral index in the market, thanks to the government sops for the sector including Rs 25,000 crore funds infusion to revive stalled projects. The sharp cut in corporate tax rate was also gave a boost.

Source: Economic Times,  Moneycontrol  ,Business Today, Business Standard, Bloomberg Quin,,,

 

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
5PAISA Quarterly Results 16-Jan-20 KAPASHI General 16-Jan-20
ASAHIIND Quarterly Results 16-Jan-20 KTKBANK Quarterly Results 16-Jan-20
BIRLAMONEY Quarterly Results 16-Jan-20 MCLOUD General 16-Jan-20
BOMBWIR Quarterly Results 16-Jan-20 MELSTAR General 16-Jan-20
CYIENT Quarterly Results 16-Jan-20 RALLIS Quarterly Results 16-Jan-20
DCAL Buy Back of Shares;ESOP 16-Jan-20 RISHDIGA General;Quarterly Results 16-Jan-20
DECCAN Preferential Issue of shares 16-Jan-20 ROSELABS Quarterly Results 16-Jan-20
DHRUVES Quarterly Results 16-Jan-20 RUBFILA General 16-Jan-20
DOLAT Quarterly Results 16-Jan-20 SAVERA General 16-Jan-20
FERVENTSYN Quarterly Results 16-Jan-20 SEL Quarterly Results 16-Jan-20
GAIL General 16-Jan-20 SOUTHBANK General;Quarterly Results 16-Jan-20
HATHWAY Quarterly Results 16-Jan-20 TATAMETALI Quarterly Results 16-Jan-20

 

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
RAJGASES 16-Jan-20 Reduction of Capital WIPRO 24-Jan-20 Interim Dividend – Rs. – 1.00
SSPNFIN 16-Jan-20 Bonus issue 1:1 INDIGRID 27-Jan-20 Income Distribution (InvIT)
SUVEN 21-Jan-20 Spin Off SIEMENS 03-Feb-20 Dividend – Rs. – 7.00
DELTACORP 22-Jan-20 Interim Dividend – Rs. – 0.75 VINATIORGA 05-Feb-20 Stock  Split From Rs.2/- to Rs.1/-
ASTERDM 23-Jan-20 Buy Back of Shares FERMENTA 06-Feb-20 Bonus issue 2:1

 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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