NIFTY:
The NIFTY had a tumble today morning, going all the way down to 11900. Late afternoon, the markets staged a handsome rally, taking the index up more then 100 points from the intraday low. Thanks to this rally the index closed only with modest losses.
It is possible that the index may now have created a support and resistance zone for itself. Support for the NIFTY colud be identified around 11950. Resistance will almost certainly come at higher levels, currently identified around 12250. These are tentative levels. But at least we now have some numbers to work with. If 11950 are held tomorrow, we can then expect a slow and steady rally towards higher levels. This means that the NIFTY has now become a buy on dips opportunity, for short term.
VIEW:
Buy on a dip towards 11950 with a stop just below 11920.
Buy on a breakout above 12050 with a stop just below 12020.
TECHNICAL PICKS
| COMPANY | CMP | B/S | RATIONALE |
| MANAPPURAM | 170.55 | 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 166.50 and for the target of 175. |
| ADANIENT | 248.90 | SELL | The immediate trend of the stock is weak . The stock can be sold at CMP with a stop loss of 251 and for the target of 243-240. |
DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| ESCORTS | 900 CE | BUY | 20.50 | CMP | 12.50 | 40 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| MFSL.Feb 27 | 502.5 | 2.23 | 9.76 | 6537700 | YESBANK.Feb 27 | 31.25 | -13.07 | 27.48 | 301998400 | |
| OIL.Feb 27 | 133.35 | 3.09 | 9.15 | 13497429 | BALKRISIND.Feb 27 | 1225.7 | -3.18 | 15.93 | 2148800 | |
| NTPC.Feb 27 | 111.35 | 0.72 | 9.02 | 134155200 | LICHSGFIN.Feb 27 | 364.25 | -4.45 | 14.88 | 15343900 | |
| SRF.Feb 27 | 4182.95 | 0.34 | 7.84 | 880750 | IDEA.Feb 27 | 3.05 | -11.59 | 12.67 | 534982000 | |
| IOC.Feb 27 | 113.25 | 1.34 | 7.12 | 46816000 | INFRATEL.Feb 27 | 208.4 | -10.67 | 11.88 | 16404000 | |
| Short Covering | Long unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| CADILAHC.Feb 27 | 267.5 | 0.56 | -2.88 | 7341400 | NCC.Feb 27 | 41.6 | -2.69 | -8.49 | 46665000 | |
| PNB.Feb 27 | 52.45 | 0.96 | -2.72 | 1.2E+08 | MUTHOOTFIN.Feb 27 | 867.5 | -0.77 | -6.16 | 5919000 | |
| GAIL.Feb 27 | 119.9 | 1.4 | -1.52 | 39748968 | JSWSTEEL.Feb 27 | 284.9 | -1.44 | -2.75 | 54728500 | |
| NIFTYIT.Feb 27 | 16676 | 0.07 | -1.28 | 7700 | BAJFINANCE.Feb 27 | 4781 | -0.23 | -2.15 | 5371750 | |
| CIPLA.Feb 27 | 437.35 | 1 | -1.27 | 14966100 | L&TFH.Feb 27 | 122.5 | -1.41 | -1.95 | 20860000 | |
Top Delivery Percentage
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| ITC Ltd. | 203.85 | -0.46 | 20934864 | 11259627 | 72.35 | Nifty Media | 1845.9 | 1.86 | 82749 | |
| Petronet LNG Limited | 259.95 | 1.62 | 2789199 | 1101940 | 64.31 | INDIA VIX | 14.51 | 0.62 | 82752 | |
| Larsen & Toubro Limited | 1286.35 | 0.48 | 2347917 | 1360987 | 63.15 | Nifty IT | 16748.75 | 0.61 | 82752 | |
| Power Grid Corporation o | 185 | 0.76 | 17369937 | 6243795 | 62.82 | Nifty Pharma | 8198.3 | -0.08 | 82752 | |
| HCL Technologies Ltd. | 607.05 | -1.04 | 5237465 | 1371469 | 62.61 | Nifty Energy | 14789.85 | -0.18 | 82752 | |
| HDFC Ltd. | 2318.8 | -1.34 | 2345063 | 1474533 | 61.48 | Nifty Bank | 30562.5 | -0.39 | 82752 | |
| NESTLEIND | 16403.85 | -1.11 | 90013 | 85822 | 61.39 | Nifty FMCG | 30360.6 | -0.4 | 82752 | |
| Dabur India Ltd. | 504.55 | 0.72 | 2041114 | 818392 | 61.23 | Nifty 50 | 11992.5 | -0.44 | 82749 | |
| HDFC BANK LTD. | 1213.25 | -0.32 | 5264558 | 3075780 | 60.59 | Nifty Auto | 7692.3 | -1.01 | 82749 | |
| Godrej Cons Products Ltd | 620.75 | -0.8 | 993432 | 605363 | 60.15 | Nifty Metal | 2556.05 | -1.18 | 82749 | |
Upcoming Economic Data
| Domestic International | |
| •INR: FX Reserves, USD on 21st Februrary,2020 | •USA: Building Permits (Jan) on 19th February,2020
•USA: PPI (MoM) (Jan) on 19th Februrary,2020 |
News Updates
| •Amid talks of the government encashing its bank guarantee over default in payment of dues, Vodafone Idea Chairman Kumar Mangalam Birla met Telecom Secretary Anshu Prakash on Tuesday as he looked for options to keep the company afloat. After the meeting, Birla said he “cannot say anything at the moment.”
•The Calcutta High Court has directed the Reserve Bank of India (RBI) to contemplate taking suitable steps against the Bank of Baroda (BoB) such as cancelling its licence for failing to honour a bank guarantee furnished by a third party to Indian Oil Corporation Ltd (IOCL). •Energy Efficiency Services Ltd (EESL) on Tuesday said it has signed a memorandum of understanding with Bharat Sanchar Nigam Ltd (BSNL) for installation of 1,000 public charging stations for electric vehicles. EESL will make the entire upfront investment on the services pertaining to the MoU, along with the operation and maintenance of the charging infrastructure by using qualified personnel. •Maruti Suzuki India (MSI) on Tuesday launched BS-VI compliant version of its premium compact car Ignis priced between Rs 4.89-7.19 lakh (ex-showroom Delhi). The new Ignis is powered by 1.2 litre petrol engine and comes with manual and Auto Gear Shift (AGS) transmission options. Source: Economic Times, Moneycontrol ,Business Today, Business Standard, Bloomberg Quint |
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| ARL | General | 19-Feb-20 | BARTRONICS | A.G.M.;General | 20-Feb-20 |
| BMAL | General | 19-Feb-20 | BFINVEST | Quarterly Results | 20-Feb-20 |
| INDAG | Interim Dividend | 19-Feb-20 | CIL | Quarterly Results | 20-Feb-20 |
| INDOSOLAR | Audited Results;Quarterly Results | 19-Feb-20 | GDL | Interim Dividend | 20-Feb-20 |
| JSGLEASING | Quarterly Results | 19-Feb-20 | JBCHEPHARM | Interim Dividend | 20-Feb-20 |
| KABRADG | General | 19-Feb-20 | LLOYDSME | General | 20-Feb-20 |
| LUMAXTECH | Interim Dividend;General | 19-Feb-20 | MRSS | General | 20-Feb-20 |
| MASFIN | Interim Dividend | 19-Feb-20 | QUEST | General | 20-Feb-20 |
| NIITLTD | Interim Dividend | 19-Feb-20 | REDINGTON | Interim Dividend | 20-Feb-20 |
| A2ZINFRA | Quarterly Results | 20-Feb-20 | SIS | Interim Dividend | 20-Feb-20 |
| AMBUJACEM | Audited Results;Final Dividend | 20-Feb-20 | TITAANIUM | Preferential Issue of shares | 20-Feb-20 |
| AMTEKAUTO | Quarterly Results | 20-Feb-20 | TRIDENT | Interim Dividend | 20-Feb-20 |
Corporate Action
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| CARERATING | 20-Feb-20 | Interim Dividend – Rs. – 6.00 | AARTIIND | 24-Feb-20 | Interim Dividend – Rs. – 2.50 |
| COSMOFILMS | 20-Feb-20 | Interim Dividend – Rs. – 15.00 | APCOTEXIND | 24-Feb-20 | Interim Dividend – Rs. – 3.00 |
| DAAWAT | 20-Feb-20 | Interim Dividend – Rs. – 0.50 | AVTNPL | 24-Feb-20 | Interim Dividend – Rs. – 0.25 |
| HGS | 20-Feb-20 | Interim Dividend – Rs. – 15.00 | BALAJITELE | 24-Feb-20 | Interim Dividend – Rs. – 0.40 |
| IRCON | 20-Feb-20 | Interim Dividend – Rs. – 13.45 | BALKRISIND | 24-Feb-20 | Interim Dividend – Rs. – 16.00 |
| MAZDALTD | 20-Feb-20 | Interim Dividend – Rs. – 7.50 | BDL | 24-Feb-20 | Interim Dividend – Rs. – 6.25 |
| OIL | 20-Feb-20 | Interim Dividend – Rs. – 9.00 | GOLDIAM | 24-Feb-20 | Interim Dividend – Rs. – 3.00 |
| SELAN | 20-Feb-20 | Interim Dividend – Rs. – 5.00 | IRCTC | 24-Feb-20 | Interim Dividend – Rs. – 10.00 |
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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