The Nifty opened at 14594.35 down by just 1 points. The index moved further on the downside and recorded its intraday low at 14357. The index then had a pull back and saw an upside move of about 100 points from its low to close at 14433. All the sectoral indices have closed in the red with the volatility increasing in the market.
Nifty continued trading volatile where the markets may be seeing some kind of profit booking as its facing resistance around 14650. The Nifty witnessed some modest recovery after the initial sharp fall.
A trading range is now visible at the top of this rally. Boundaries of this range are 14350 as support and 14650 as resistance. Since the trend is very strong, we should look to buy on a breakout of this range. If the range is broken on the downside, we may further see a move downside till14100.
Bank Nifty opened at 32508.90 with a slight gap down. It was a trend day on the downside, where prices have moved on the downside with slight pull backs during the day. The index recorded its low at 32044 and finally closed at 32246.80.
Both PSU and Private Banks have closed down with PSU Banks closing down by 2% and private banks by 0.79%
The index has good support around 31900 close to Friday’s low where we saw a pull back in the market. Since the trend is strong on the upside, traders can look to buy the index on a dip.
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|ITC||217.85||BUY||The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 212 and for the target 225.|
|HDFCBANK||1466.65||BUY||The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 1447 and for the target 1490.|
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|STOCK OPTION||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|GODREJCP||780 CE||BUY||26.60||CMP||21||32||OI increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|SAIL.21.01 Jan||70.5||4.37||85.21||142234000||HDFCAMC.21.01 Jan||3250.45||-2.29||24.23||355800|
|INDUS TOWERS LIMITED.21.||263.05||2.53||8.25||9738400||CADILAHC.21.01 Jan||488.4||-3.45||10.31||11160600|
|TATAMOTORS.21.01 Jan||261.6||6.28||6.68||71814300||L&TFH.21.01 Jan||103.55||-2.08||9.42||28742900|
|APOLLOHOSP.21.01 Jan||2598.1||3.29||6.1||1642500||VOLTAS.21.01 Jan||891.65||-2.48||8.79||2190000|
|IDEA.21.01 Jan||13.75||10.89||5.02||934080000||BERGEPAINT.21.01 Jan||779.75||-2.16||8.74||2407900|
|Short Covering||Long Unwinding|
|Stocks||Price||Price%||OI%||OI||Stocks||Price||Price %||OI %||OI|
|UPL.21.01 Jan||522.9||2.42||-9.51||16052400||FINNIFTYW.21.01 Jan||15476.5||-0.82||-45.54||19280|
|RECLTD.21.01 Jan||145.45||1.04||-8.25||13416000||GAIL.21.01 Jan||136.4||-3.98||-14.67||28493100|
|BHARTIARTL.21.01 Jan||603.7||3.84||-4.23||92053932||AARTIIND.21.01 Jan||1257.65||-0.94||-7.81||381225|
|ITC.21.01 Jan||218.2||1.39||-3.53||106476800||RAMCOCEM.21.01 Jan||822.2||-2.07||-7.78||1339600|
|JINDALSTEL.21.01 Jan||299.1||1.36||-2.11||22700000||BHEL.21.01 Jan||39.35||-2.24||-7.24||101997000|
TOP DELIVERY PERCENTAGE
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|Icici Lombard General In||1550.85||-0.25||347984||198538||66.38||Nifty Auto||10178.3||-0.59||73599422|
|Hdfc Ltd.||2632.75||-1.91||2582955||2732578||64.24||Nifty Fmcg||34630.05||-0.73||970400|
|Kotak Mahindra Bank Limi||1863.9||-1.52||2715164||3028209||63.04||Nifty Bank||32246.8||-0.84||23228331|
|Max Financial Services l||707.55||-1.75||852193||638835||60.91||Nifty Metal||3449.15||-1.1||216059418|
|Tata Consumer Products l||602.4||-1.89||4492648||2163917||60.51||Nifty 50||14433.7||-1.11||51811450|
|Colgate Palmolive (india||1562.2||-1.98||503985||295760||56.49||Nifty Media||1732.6||-1.27||430714819|
|Power Grid Corporation o||203||-1.02||7610734||3712302||54.88||Nifty Pharma||13014.25||-1.65||57253027|
|Hdfc Life Insurance Comp||704.85||-0.29||2417123||1071313||53.69||Nifty Realty||331.25||-1.82||2147483500|
|Reliance Industries Ltd||1937.45||-1.18||9503790||5225648||52.54||Nifty Energy||17341.05||-1.86||2594376|
|Aarti Industries Ltd.||1256.5||-0.68||167836||144194||52.12||Nifty it||26362.8||-2.24||3087416|
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UPCOMING ECONOMIC DATA
|INR: FX Reserves, USD on 22nd January, 2021||•USD : Crude Oil Inventories on 20th January, 2021
•USD : Philadelphia Fed Manufacturing Index (Jan) on 21st January, 2021
|•Automobile Benchmark indices posted their biggest drop on Friday in nearly a month, amid a decline in global markets, after US President-elect Joe Biden’s $1.9-trillion Covid-19 relief plan sparked concerns over an increase in corporate taxes. The dollar rose, while oil prices came off their 10-month highs as investors mounted risk-off bets.
•Dr Reddy’s Laboratories on Friday said it has received approval from the Drugs Control General of India (DCGI) to conduct phase 3 clinical trial for the Sputnik V vaccine for COVID-19. The phase 3 study of Sputnik V will be conducted on 1500 subjects as part of the randomized, double-blind, parallel-group, placebo-controlled study in India.
•Billionaire Ajay Piramal won the most contested bankruptcy bid for Dewan Housing Finance Ltd., trumping distressed fund Oaktree Capital and Adani Capital as creditors overwhelmingly voted for the drug-maker turned real estate and mortgage lender. Piramal’s bid received about 94 percent of votes of the creditors, followed by Oaktree at 45 percent, sources told ET.
•L&T Finance Holdings Ltd. (LTFH), a part of Larsen & Toubro Group, on Friday reported a 51 per cent decline in consolidated net profit at Rs 291 crore for the third quarter ended December 31, 2020, as compared to Rs 591 crore in the corresponding period last year. The consolidated revenue from operations declined to Rs 3,503.43 crore compared to Rs 3,630.64 crore in Q3 FY20, LTFH said in an exchange filing. The revenue from operations stood at Rs 3,408.10 crore in September quarter.
Source: Economic Times, Moneycontrol ,Business Today, Livemint, Business Standard, Bloomberg Quint
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|ALEXANDER||Quarterly Results||18-Jan-21||IRB||General;Quarterly Results||18-Jan-21|
|ALOKTEXT||Quarterly Results||18-Jan-21||L&TFH||Right Issue of Equity Shares||18-Jan-21|
|DECNGOLD||Quarterly Results||18-Jan-21||MJCO||Audited Results;Quarterly Results||18-Jan-21|
|HMVL||Quarterly Results||18-Jan-21||SHAKTIPUMP||Quarterly Results||18-Jan-21|
|IBREALEST||General;Quarterly Results||18-Jan-21||SNOWMAN||Quarterly Results||18-Jan-21|
|INDIAMART||Preferential Issue ; Quarterly Results||18-Jan-21||TRIDENT||Quarterly Results||18-Jan-21|
|IPOWER||General;Quarterly Results||18-Jan-21||ULTRACAB||Quarterly Results||18-Jan-21|
|Company Name||Ex-Date||Purpose||Company Name||Ex-Date||Purpose|
|ARCHIDPLY||18-Jan-21||Buy Back of Shares||WIPRO||22-Jan-21||Interim Dividend – Rs. – 1.0000|
|IRBINVIT||20-Jan-21||Income Distribution (InvIT)||DCMSHRIRAM||27-Jan-21||Interim Dividend|
|HCLTECH||21-Jan-21||Interim Dividend – Rs. – 4.0000||GAIL||27-Jan-21||Buy Back of Shares|
|TAALENT||21-Jan-21||Interim Dividend – Rs. – 20.0000||GAIL||27-Jan-21||Interim Dividend – Rs. – 2.5000|
|CESC||22-Jan-21||Interim Dividend – Rs. – 45.0000||GMM||28-Jan-21||Interim Dividend|
|TOWERINFRA||22-Jan-21||Income Distribution (InvIT)||HAVELLS||28-Jan-21||Interim Dividend|
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Elite Wealth Ltd. 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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