2019-12-18-Outlook

NIFTY:

World markets were on fire yesterday, with two different news events.

One: The UK elections where Boris Johnson  won an impressive victory.

Two: The deal between the US and China, which gives the impression of closing the trade deal chapter.

Today India joined the party with the NIFTY opening with a mild gap but then going on to build on the gains throughout the day. Finally in the last half an hour, the NIFTY breached its earlier top and recorded new lifetime high. Lifetime highs are bullish.

For the short-term trader: look for a dip towards 12070 to initiate a buying position. A second option to buy is to wait for a sideways movement intraday, which last for a few hours.

VIEW:

Buy on a dip towards 12070 with a stop just below 12040.

TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
     BHARTIARTL 439.95 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  428  and for the target of  455-460.
     HEXAWARE 338.15 SELL The immediate trend of the stock is weak . The stock can be sell with a stop loss of  343 and for  the target of  330.

DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
TATAMOTORS 180 CE BUY 6 CMP 3.5 13 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
NIITTECH.Dec 26 1608.8 8.74 74.79 702000 VOLTAS.Dec 26 672.2 -1.26 17.73 3413000
CUMMINSIND.Dec 26 563.8 2.83 30.08 2055200 RELIANCE.Dec 26 1572.9 -0.03 12.69 47176000
AMARAJABAT.Dec 26 750 3.28 29.69 1712200 HEXAWARE.Dec 26 338.95 -0.19 11.61 1312500
JUSTDIAL.Dec 26 589 3.13 24.68 2630600 APOLLOHOSP.Dec 26 1370.7 -0.36 11.56 2368500
BHARTIARTL.Dec 26 441.75 4.26 15.06 50136186 TORNTPHARM.Dec 26 1845.4 -1.6 10.36 287500
                                                                        Short Covering                                                                            Long unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
NIFTYIT.Dec 26 15710 1.55 -3.45 5600 SRF.Dec 26 3258 -0.54 -6.83 688750
BHEL.Dec 26 46 0.66 -2.5 53287500 JUBLFOOD.Dec 26 1588 -0.37 -1.95 2089000
BANKBARODA.Dec 26 102.35 0.99 -1.42 69241500 IBULHSGFIN.Dec 26 304.55 -1.07 -1.08 19529600
IOC.Dec 26 125.6 0.16 -1.4 26348000 MUTHOOTFIN.Dec 26 720.2 -0.15 -1.07 4008000
CANBK.Dec 26 230 0.81 -1.3 9714000 UNIONBANK.Dec 26 58.25 -0.34 -0.87 25564000

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
GMR Infrastructure Limit 21.85 3.07 22654060 12811296 74.23 Nifty Metal 2665.75 2.88 82335
Page Industries Limited 22205.9 0.99 13742 20007 68.96 Nifty IT 15637.15 1.88 82332
UNITED SPIRITS LIMITED 583.8 -1.26 1707930 753236 67.71 Nifty Media 1772.1 0.97 82335
THE RAMCO CEMENTS 771.5 0.08 221773 85385 67.17 Nifty 50 12165 0.92 82332
HDFC Ltd. 2430.1 2.31 7277994 2348884 66.92 Nifty Auto 8039.9 0.61 82335
HDFC BANK LTD. 1271.1 1.09 6213677 3778135 66.71 Nifty Bank 32140.25 0.52 82332
Godrej Cons Products Ltd 679 0.59 1380097 665785 66.55 Nifty FMCG 30182.05 0.46 82332
Power Grid Corporation o 188.05 0.59 10070797 3037880 63.69 Nifty Energy 15975.55 0.01 82332
UltraTech Cement Limited 4119.55 1.44 447766 323401 63.52 Nifty Pharma 7999.6 -0.33 82332
BRITANNIA IND LTD. 3071.95 0.69 212811 231937 62.73 INDIA VIX 12.52 -6.73 82329

Upcoming Economic Data

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

•INR : Bank Loan Growth on 20th December 2019

•USA: Crude Oil Inventories on 18th December 2019

•USA:  Existing Home Sales ( Nov) 19th December 2019

News Updates

•Share prices of Tata Steel, JSW Steel and SAIL gained 3-4 percent intraday on December 17 after Citi upgraded ratings on these stocks, citing likely increase in global steel prices. The global brokerage house upgraded Tata Steel and JSW Steel (from sell) to buy, and SAIL to neutral.

•Reliance Industries (RIL) is planning to expand its fuel retail business with British energy major BP. The joint venture will be called Jio-BP that will have a network of 5,500 petrol pumps. These pumps will be increased from the 1,400 at present. RIL will hold 51 per cent and BP would have 49 per cent stake in the joint venture.

•Star Paper, Malu Paper and Emami Paper share prices rallied 10 percent each on December 17 following media reports that the Budget 2020 could offer incentives to the industry.Following the crackdown on single-use plastics, paper and jute sectors stocks have rallied sharply.

•ArcelorMittal  has completed the acquisition of Essar Steel and formed a joint venture with Nippon Steel (AM/NS India) to own and operate the debt-ridden firm. The deck for acquisition of Essar Steel for Rs 42,000 crore by LN Mittal-led company was cleared by the Supreme Court last month. Aditya Mittal, President and CFO of ArcelorMittal, has been appointed Chairman of AM/NS India, and Dilip Oommen has been appointed as its CEO.

Source ; Moneycontrol, Business Today, Livemint, Economics times

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
GNRL Preferential Issue of shares 18-Dec-19 MENAMANI General 19-Dec-19
HATSUN General 18-Dec-19 VITESSE General 19-Dec-19
HESTERBIO Preferential Issue of shares 18-Dec-19 XTGLOBAL General 19-Dec-19
JYOTIRES General 18-Dec-19 ZPRBHSTE General 19-Dec-19
NGIL General 18-Dec-19 ASPL General 20-Dec-19
JIGAR General 19-Dec-19 BCG Preferential Issue of shares 20-Dec-19
JMFINANCIL General 19-Dec-19 KRANTI General 20-Dec-19
KAARYAFSL General 19-Dec-19 USHDI Quarterly Results 20-Dec-19
KCDGROUP Increase in Auth. Cap. 19-Dec-19 DHANCOT General 21-Dec-19
KENVI Bonus issue 19-Dec-19 HINDSECR General 23-Dec-19
KHAITANLTD Quarterly Results 19-Dec-19 NIITTECH Buy Back of Shares 23-Dec-19
MANPASAND Quarterly Results 19-Dec-19 VISIONCINE General 23-Dec-19
GNRL Preferential Issue of shares 18-Dec-19 MENAMANI 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 AXITA 26-Dec-19 Bonus issue 1:1
ABB 20-Dec-19 Spin Off BALMLAWRIE 26-Dec-19 Bonus issue 1:2
RSYSTEMINT 20-Dec-19 Interim Dividend – Rs. – 1.50

 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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