2019-12-17-Outlook

NIFTY:

So far and yet so near; this was the story of the NIFTY today. The NIFTY was within striking distance of making a lifetime new high, but failed to do so. The market was in a mode of consolidation throughout the day. It appears that the markets have encountered a temporary resistance around 12100, and are likely to remain inside a range or even go through a minor correction for the next few days.

When the market is big in a correction within an overall uptrend, this creates a problem as well as  an opportunity for traders.

The Solution For Traders Is Simple: patience. When the first sign of a correction emerge, traders should now wait patiently for this decline to end and then plan to go long.

Opportunity: well the whole idea of a successful buying strategy is to buy on dips. Corrections gives us that opportunity.

TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
     MGL 1041 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  1020 and for the target of  1065.
     BRITANNIA 3059.80 SELL The immediate trend of the stock is weak . The stock can be sell with a stop loss of  3090 and for  the target of  2984.

DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
ZEEL 280 PE BUY 11.75 CMP 8 18 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
IGL.Dec 26 418.2 1.93 12.77 8181250 MINDTREE.Dec 26 759.7 -0.7 21.79 1150200
TECHM.Dec 26 777.75 1.76 12.28 15873600 TATACHEM.Dec 26 658.2 -1.64 8.7 2250000
KOTAKBANK.Dec 26 1711.65 0.75 11.6 8948400 HINDUNILVR.Dec 26 1981.05 -1.66 8.44 9227700
EQUITAS.Dec 26 103.95 2.01 8.64 20320000 AMARAJABAT.Dec 26 726.8 -2.45 7.89 1340500
NMDC.Dec 26 115.3 0.44 8.33 21780000 APOLLOTYRE.Dec 26 165.05 -1.49 7.14 9726000
                                                                        Short Covering                                                                            Long unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
NIFTYIT.Dec 26 15470 1.16 -14.81 5750 DISHTV.Dec 26 13.05 -3.69 -2.9 111734000
MUTHOOTFIN.Dec 26 722 0.45 -1.59 4165500 BERGEPAINT.Dec 26 492.2 -1.7 -2.8 9257600
POWERGRID.Dec 26 186.9 0.38 -1.41 32720000 NBCC.Dec 26 34.85 -1.83 -2.31 37774000
MOTHERSUMI.Dec 26 141.5 0.14 -0.76 28802400 IBULHSGFIN.Dec 26 307.75 -0.28 -1.94 23085600
APOLLOHOSP.Dec 26 1374.75 0.95 -0.75 2238500 CASTROLIND.Dec 26 130.7 -0.72 -1.83 5661000

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Power Grid Corporation o 186.95 0.67 4769674 5146540 70.45 Nifty IT 15348.75 0.97 78066
HDFC BANK LTD. 1257.35 -0.51 5663788 4094699 69.55 INDIA VIX 13.41 0.86 78066
Godrej Cons Products Ltd 675 0.04 1000388 639303 68.44 Nifty Bank 31974.2 -0.13 78066
MARICO LIMITED 329.65 -1.33 1534303 1306962 68.28 Nifty Pharma 8025.85 -0.24 78066
GMR Infrastructure Limit 21.2 0.47 17258800 10440393 67.78 Nifty 50 12053.95 -0.27 78057
HCL Technologies Ltd. 552.2 1.67 4590144 1846863 63.91 Nifty Energy 15974.2 -0.58 78066
Apollo Hospitals Ltd 1370.55 1.3 825493 1616606 63.07 Nifty Media 1755 -0.61 78066
Hindustan Unilever Ltd 1974.75 -1.57 1683941 747763 61.65 Nifty Auto 7990.8 -0.98 78066
NESTLEIND 14151.65 -1.05 67072 93812 60.12 Nifty FMCG 30043.1 -1.26 78066
ITC Ltd. 236.9 -1.95 12014269 4901471 59.73 Nifty Metal 2591.1 -1.36 78066

Upcoming Economic Data

   Domestic                                                                                                                                                  International
•INR:  RBI MPC Meetings Minutes on 19th December 2019

•INR : Bank Loan Growth on 20th December 2019

•USA: Building Permits (Nov) on 17th December 2019

•USA: Crude Oil Inventories on 18th December 2019

News Updates

•Glenmark Pharmaceuticals on Monday said that its Baddi manufacturing unit has received Good Manufacturing Practice (GMP) certificate from European regulator State Institute for Drug control (SUKL).The European regulator has just issued a certificate of compliance for the facility stating that it complies with the principles and guidelines of Good Manufacturing Practice (GMP) laid down in the directive 2003/94/EC which stipulates the requirements to fulfil GMP recommendations.

•Reliance Industries Ltd. (RIL)  announced that its wholly-owned subsidiary Reliance Industrial Investments and Holdings Ltd (RIIHL) has entered into binding agreements with Brookfield Infrastructure Partners LP, and its institutional partners, for an investment of Rs 25,215 crore in the units to be issued by the Tower Infrastructure Trust.

•Wholesale prices based inflation rose to 0.58 percent in November, as against 0.16 percent in October due to increase in prices of food articles. The annual inflation, based on monthly wholesale price index (WPI), was at 4.47 percent during the same month a year ago (November 2018).

•Astron Paper & Board Mill share price rallied 5 percent intraday on December 16 after the company entered into a strategic partnership with China’s Shandong Zhonghui Supply Chain Management Co Ltd (ABC Paper).The ABC Paper will transfer technical knowledge and experience for upgrade of plant.

Source ; Moneycontrol, Business Today, Livemint, Economics times

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
AVL Half Yearly Results 17-Dec-19 KAARYAFSL General 19-Dec-19
DHANVARSHA General 17-Dec-19 KENVI Bonus issue 19-Dec-19
INGERRAND Special Dividend 17-Dec-19 KHAITANLTD Quarterly Results 19-Dec-19
JYOTHI General 17-Dec-19 MANPASAND Quarterly Results 19-Dec-19
PULSRIN General 17-Dec-19 XTGLOBAL General 19-Dec-19
STERTOOLS General 17-Dec-19 ASPL General 20-Dec-19
GNRL Preferential Issue of shares 18-Dec-19 KRANTI General 20-Dec-19
HATSUN General 18-Dec-19 USHDI Quarterly Results 20-Dec-19
HESTERBIO Preferential Issue of shares 18-Dec-19 DHANCOT General 21-Dec-19
JYOTIRES General 18-Dec-19 BALMLAWRIE Bonus issue;General 30-Dec-19
NGIL General 18-Dec-19 UNITECH Quarterly Results 04-Jan-20
JIGAR General 19-Dec-19 NEH Voluntary Delisting of Shares 10-Jan-20
AVL Half Yearly Results 17-Dec-19 KAARYAFSL General 19-Dec-19

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
BOROSIL 18-Dec-19 Dividend – Rs. – 0.65 CHOLAFIN 23-Dec-19 Interim Dividend – Rs. – 1.00
IBVENTURES 18-Dec-19 Buy Back of Shares ABANSENT 26-Dec-19 Interim Dividend – Rs. – 0.10
INFRATEL 19-Dec-19 Interim Dividend – Rs. – 2.75 BALMLAWRIE 26-Dec-19 Bonus issue 1:2
ABB 20-Dec-19 Spin Off

 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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