NIFTY:
The Nifty opened at 13981.95 exactly at daybefore’s close. The index first rallied then moved down then again rallied and then again moved down and finally closed at 13981.95 without any changes. The index traded within a range of just 88 points. Banks, FMCG and IT have closed lower while Realty was the biggest gainer.
Nifty crossed another milestone of the 14000 mark and registered lifetime new highs at 14024.85.The Nifty has rallied more than 1000 points in the month of December and ended the year 2020 at a record closing level.
Despite Covid 19 Pandemic,the Nifty rose 1800 points in the year 2020 which is almost 15% gain.
The Nifty has made 3 Doji in a row which represents confusion. A narrow trading range is now visible with support around 13860 and resistance around 14025. A breakout from this range may give us a tradable move. Since the trend is very strong on the up side, we will avoid the downside trade.
Look to buy the index above 14030. In case of a gap up, buy above the first 15 minutes of high. Keep a stop of 60 points and target of 140 points from your entry price.
BANK NIFTY:
Bank Nifty opened at 31295.90 with a gap up of 36 points. The index traded very choppy and narrow with multiple up’s and down’s and finally closed at 31264 with a marginal loss. PSU and Private banks both have performed same and closed with marginal losses. Within the index,ICICI Bank contributed highest while Kotak the lowest. Bank Nifty continued to trade choppy and narrow. The index remained above 30900-31000 levels which are now acting as a support. The index has been trading in a narrow of just 500 points. We may see a breakout.
Our trade is to buy above 31500 or sell below 30900.
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TECHNICAL PICKS
| COMPANY | CMP | B/S | RATIONALE |
| MOTHERSON SUMI | 165.20 | BUY | The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 156.5 and for the target 175 |
| BEL | 119.95 | BUY | The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 116 and for the target 127. |
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DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| ZEEL | 220 CE | BUY | 18.20 | CMP | 14 | 24 | OI increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| MARUTI.20.12 Dec | 7634.5 | 0.33 | 58.16 | 1199800 | HINDUNILVR.20.12 Dec | 2390.1 | -0.64 | 59.88 | 2729700 | |
| SUNPHARMA.20.12 Dec | 587.35 | 0.62 | 44.89 | 9118200 | BAJAJ-AUTO.20.12 Dec | 3428.15 | -0.79 | 54.8 | 738000 | |
| SRTRANSFIN.20.12 Dec | 1044.45 | 0.47 | 40.97 | 2217108 | ULTRACEMCO.20.12 Dec | 5263.45 | -1.75 | 43.48 | 431600 | |
| M&M.20.12 Dec | 721 | 0.03 | 37.82 | 6938400 | CIPLA.20.12 Dec | 816.95 | -0.71 | 43.09 | 4494100 | |
| PIDILITIND.20.12 Dec | 1774.6 | 1.26 | 36.43 | 1063500 | AXISBANK.20.12 Dec | 619.35 | -1 | 42.3 | 21012000 | |
| Short Covering | Long Unwinding | |||||||||
| Stocks | Price | Price% | OI% | OI | Stocks | Price | Price % | OI % | OI | |
| IDFCFIRSTB.20.12 Dec | 37 | 0.41 | -77.36 | 4199000 | CUMMINSIND.20.12 Dec | 572.15 | -0.02 | -73.22 | 130800 | |
| BEL.20.12 Dec | 120.85 | 5.55 | -75.07 | 2112800 | M&MFIN.20.12 Dec | 174.3 | -0.03 | -65.43 | 895440 | |
| NATIONALUM.20.12 Dec | 43.2 | 3.85 | -74.34 | 4454000 | IGL.20.12 Dec | 503.4 | -0.52 | -63.03 | 345125 | |
| IBULHSGFIN.20.12 Dec | 219.7 | 2.09 | -70.98 | 1382600 | RBLBANK.20.12 Dec | 231.5 | -0.26 | -62.62 | 1224600 | |
| HDFCBANK.20.12 Dec | 1440.8 | 0.35 | -60.15 | 2720300 | KOTAKBANK.20.12 Dec | 1998 | -1.08 | -62.37 | 888000 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Power Grid Corporation o | 189.85 | -0.18 | 13090566 | 8026123 | 74.58 | Nifty Realty | 313.85 | 1.23 | 85677 | |
| Tata Consultancy Serv Lt | 2862.75 | -1.6 | 4040956 | 1441442 | 54.64 | Nifty Media | 1648.95 | 0.98 | 85677 | |
| Hdfc Ltd. | 2558.65 | 1.61 | 4956399 | 1494677 | 51.5 | Nifty Metal | 3254.65 | 0.74 | 85677 | |
| Gmr Infrastructure Limit | 26.5 | -3.28 | 63814803 | 71167730 | 48.71 | Nifty Pharma | 12915.9 | 0.72 | 85677 | |
| Ntpc Limited | 99.35 | 0.25 | 50363279 | 14082636 | 46.51 | Nifty Auto | 9193.5 | 0.31 | 85677 | |
| Tata Consumer Products l | 589.9 | -0.75 | 2322873 | 1065412 | 46.36 | Nifty 50 | 13981.75 | 0 | 85677 | |
| Infosys Limited | 1255.8 | 0.72 | 7430470 | 2378603 | 45.79 | Nifty Bank | 31264.05 | -0.12 | 85677 | |
| Hindustan Petroleum Corp | 217.9 | 0.67 | 7519212 | 1732332 | 43.91 | Nifty Energy | 16922.5 | -0.15 | 85677 | |
| Petronet Lng Limited | 247.6 | 0.45 | 3588336 | 1633085 | 43.37 | Nifty it | 24251.35 | -0.32 | 85677 | |
| Icici Bank Ltd. | 535.05 | 1.19 | 27817770 | 9162752 | 42.89 | Nifty Fmcg | 34177.1 | -0.4 | 85677 | |
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UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: Bank Loan Growth on 1st January, 2021
INR: FX Reserves, USD on 1st January, 2021 |
•USD : Manufacturing PMI (Dec) on 4th January, 2021 |
NEWS UPDATES
| •Jubilant FoodWorks Ltd (JFL) on Thursday said it will invest ₹92 crore into Barbeque Nation Hospitality Limited (BNHL) for an equity stake of 10.76%. BNHL operates Barbeque Nation (BBQ) an Indian cuisine, casual dining brand. It owns and operates 138 Barbeque Nation restaurants in 73 cities in India and 7 international Barbeque Nation restaurants (as of 30 November, 2019). It also has a presence in the Italian cuisine segment under the brand, Toscano.
•Reliance Jio recently announced that they will be making all domestic calls free. The company claimed that they will be upholding TRAI’s Bill and Keep regime. This will be implemented from the 1 January 2021. Reliance Jio has also revealed some plans that are claimed to offer better value. With the new announcement, Jio will be offering free calls for all users which includes the ₹149, ₹129, ₹199 and ₹555 plan. •Bank credit grew 6.05 per cent to Rs 105.49 lakh crore, while deposits rose 11.33 per cent to Rs 144.82 lakh crore during December 5-18, RBI data showed. In the fortnight ended December 20, 2019, bank credit stood at Rs 99.47 lakh crore and deposits at Rs 130.09 lakh crore. •Larsen & Toubro has bagged orders worth up to Rs 2,500 crore for power transmission and distribution and water treatment projects, the engineering major said on Thursday. The orders would be executed by L&T’s construction division. Source: Economic Times, Moneycontrol ,Business Today, Livemint, Business Standard, Bloomberg Quint |
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BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| GBFL | General | 01-Jan-21 | COUNCODOS | General | 04-Jan-21 |
| MKEXIM | Preferential Issue of shares;General | 01-Jan-21 | DECCAN | Half Yearly Results | 04-Jan-21 |
| ORTINLAABS | General | 01-Jan-21 | GNRL | General | 04-Jan-21 |
| TIRUSTA | Preferential Issue of shares | 01-Jan-21 | INDRANIB | General | 04-Jan-21 |
| AKSHAR | General | 02-Jan-21 | JAYKAY | Preferential Issue of shares;General | 04-Jan-21 |
| CFEL | General | 02-Jan-21 | SHUKRAPHAR | General | 04-Jan-21 |
| NEOINFRA | General | 02-Jan-21 | SKC | Quarterly Results | 04-Jan-21 |
| PRIMEFRESH | General | 02-Jan-21 | TUNITEX | General | 04-Jan-21 |
| RPEL | Preferential Issue of shares | 02-Jan-21 | VBIND | General | 04-Jan-21 |
| VIPULORG | Preferential Issue of shares;General | 02-Jan-21 | BETALA | Quarterly Results | 05-Jan-21 |
| ALFATRAN | General | 04-Jan-21 | GICRE | General | 05-Jan-21 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| HAZOOR | 01-Jan-21 | Consolidation of Shares | LPNAVAL | 08-Jan-21 | E.G.M. |
| ANISHAIMPEX | 04-Jan-21 | E.G.M. | RITES | 08-Jan-21 | Interim Dividend – Rs. – 5.0000 |
| ABANSENT | 05-Jan-21 | Interim Dividend – Rs. – 0.1000 | REFEX | 11-Jan-21 | Interim Dividend – Rs. – 1.0000 |
| GDL | 05-Jan-21 | Interim Dividend – Rs. – 2.0000 | HCLTECH | 21-Jan-21 | Interim Dividend |
| STEELXIND | 07-Jan-21 | E.G.M. | SHREERAMA | 28-Jan-21 | E.G.M. |
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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