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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