outlook-2020-01-17

 

NIFTY:

The NIFTY continued with its winning spree by closing higher once more, recording a gain of about 10 points over its previous close. This is about .10%, but the spectacular highlight of this gain is the fact that it came after all. The index has been rolling since it made a low at 11930 just 10 days ago.

We should never question the wisdom of the market. The index has been moving up and its gains are coming because the buyers are stronger then the sellers. Who are we to question the wisdom of these buyers?

Stay on the long side. One of the safest trades we can do as traders is to simply avoid the temptation to go short. Nifty support now comes at 12280, and resistance at 12374. Today’s close is very near to resistance.  Tomorrow trade will depend on how the markets reacts to this resistance level. If the market breaks out of this resistance, we should suggest going long.

VIEW:

Look to buy on dips.

TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
     TCS 2235.15 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  2214 and for the target of  2280.
     BANKBARODA 97.65 SELL The immediate trend of the stock is weak . The stock can be sold  at CMP with a stop loss of  99 and for  the target of  94.50.

 

DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
BHARTIARTL 475 CE BUY 12.25 CMP 7 25 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI   Stocks Price Price% OI % OI
TORNTPHARM.Jan 30 1939.75 1.73 29.37 326000 CHOLAFIN.Jan 30 330.1 -0.18 14.97 3820000
MFSL.Jan 30 529.6 3.08 20.39 9939800 INDUSINDBK.Jan 30 1390.3 -1.18 10.04 16092400
CADILAHC.Jan 30 271.45 2.92 14.35 7992600 RAMCOCEM.Jan 30 820.8 -1.07 8.95 1616800
TORNTPOWER.Jan 30 306.85 1.2 12.08 3201000 TATAGLOBAL.Jan 30 385.6 -1.59 8.69 13003200
BALKRISIND.Jan 30 1101.5 2.13 11.87 2073600 GAIL.Jan 30 129.45 -2.19 8.4 47840646
                                                                        Short Covering                                                                            Long unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
SRF.Jan 30 3590 0.07 -1.11 780750 JUBLFOOD.Jan 30 1746.15 -0.65 -2.96 2638000
DLF.Jan 30 258.45 0.53 -0.95 35659800 TATAMTRDVR.Jan 30 82.95 -0.9 -0.73 32586400
YESBANK.Jan 30 37.15 0 -0.73 2.57E+08 TECHM.Jan 30 785.4 -1.34 -0.16 16101600
TATACHEM.Jan 30 741.2 1.14 -0.55 3440700
ASHOKLEY.Jan 30 83.85 1.02 -0.42 67112000

 

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Hindustan Unilever Ltd 2049.25 1.37 2468958 1213624 77.82   Nifty Media 1863.5 1.44 89361
Bharti Airtel Limited 473.9 1.29 15990374 7602908 71.22 Nifty Realty 323.8 0.9 89361
Kotak Mahindra Bank Limi 1701.55 1.55 3321282 1704202 68.44 Nifty Pharma 8203.1 0.45 89361
Godrej Cons Products Ltd 746.75 -2.06 870590 669463 68.29 INDIA VIX 14.18 0.44 89358
HDFC BANK LTD. 1287.65 0.26 3575200 3970136 67.36 Nifty FMCG 31338.2 0.32 89361
MARICO LIMITED 349.15 1.06 1173218 825356 66.59   Nifty IT 16381.65 0.21 89361
ICICI BANK LTD. 537.15 0.29 11249232 7720548 62.5   Nifty Auto 8395.9 0.13 89361
Bajaj Auto Limited 3112.1 -0.37 287553 332617 60.08   Nifty 50 12355.5 0.1 89361
Power Grid Corporation o 196.45 1.13 4810695 2356838 58.89   Nifty Bank 31853.9 0.09 89361
ITC Ltd. 240.75 -0.68 9369668 3216141 58.72   Nifty Metal 2884.8 -1.25 89361

 

Upcoming Economic Data

   Domestic                                                                                                                                                  International
•INR: FX Reserves, USD on 17th January 2020 •USA: Building Permits (Dec)  on 17th January 2020

 

News Updates

•Wockhardt received a nod from Indian drug regulator DCGI for the country’s first new discovery antibiotics. Wockhardt said the two approved new antibiotics, Emrok(IV) & Emrok O are used for acute bacterial skin and skin structure infections including diabetic foot infections and concurrent bacteraemia. The new drug will target superbug like Methicillin-resistant Staphylococcus aureus (MRSA), which is a leading cause of rising antimicrobial resistance (AMR).

•Nestle said it would invest 2 billion Swiss francs (1.8 billion euros, $2.1 billion) over five years to cut its use of virgin plastics in favour of food-grade recycled plastics. The company, whose brands include Nespresso coffee, Vittel water and Smarties chocolates, also plans to invest in new types of sustainable packaging to meet its target of making all its packaging recyclable or reusable by 2025.

•IRCTC hit the four-digit mark for the first time ever a day ahead of launch of India’s second private train Ahmedabad-Mumbai Central Tejas Express. The train will be operated by IRCTC. This is the first time  IRCTC share hit the  Rs 1,000 mark since the Indian Railways stock made its market debut in October last year.

•Granules India share price touched a 52-week high of Rs 144.90, rising 6 percent, intraday on January 16 with the company planning a share buyback.

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

 

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ABHIJIT Quarterly Results 17-Jan-19 JIYAECO Quarterly Results 17-Jan-19
AGCNET General 17-Jan-19 LTTS General;Quarterly Results 17-Jan-19
AUBANK Quarterly Results 17-Jan-19 MANORG Quarterly Results 17-Jan-19
BIRLAMONEY Quarterly Results 17-Jan-19 MASTEK General;Quarterly Results 17-Jan-19
BURNPUR Quarterly Results;Reduction of Capital 17-Jan-19 NALINLEA Quarterly Results 17-Jan-19
CHOWGULSTM Quarterly Results 17-Jan-19 NIHARINF General 17-Jan-19
CYIENT Buy Back of Shares;Quarterly Results 17-Jan-19 NRBBEARING General 17-Jan-19
FEDERALBNK Quarterly Results 17-Jan-19 PVVINFRA Issue Of Warrants;Preferential Issue 17-Jan-19
FIBERWEB General;Quarterly Results 17-Jan-19 RALLIS General;Quarterly Results 17-Jan-19
GEOJITFSL ESOP;General;Quarterly Results 17-Jan-19 RELIANCE Quarterly Results 17-Jan-19
GGAUTO Quarterly Results 17-Jan-19 SPARCSYS General 17-Jan-19
HINDUNILVR Quarterly Results 17-Jan-19 SRGHFL Increase in Authorised Capital;General 17-Jan-19
INDOTHAI General;Quarterly Results 17-Jan-19 UCOBANK Preferential Issue of shares 17-Jan-19

 

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
SUVEN 21-Jan-20 Spin Off INDIGRID 27-Jan-20 Income Distribution (InvIT)
DELTACORP 22-Jan-20 Interim Dividend – Rs. – 0.75 SIEMENS 03-Feb-20 Dividend – Rs. – 7.0000
ASTERDM 23-Jan-20 Buy Back of Shares VINATIORGA 05-Feb-20 Stock  Split From Rs.2/- to Rs.1/-
WIPRO 24-Jan-20 Interim Dividend – Rs. – 1.00 FERMENTA 06-Feb-20 Bonus issue 2:1
ASTERDM 23-Jan-20 Buy Back of Shares INDIGRID 27-Jan-20 Income Distribution (InvIT)

 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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