outlookNIFTY:

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.

Trade AnyTime AnyWhere With Elite Empower Mobile App

Elite-Empower-App-Promotional-Banner-img1

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.

Get All Your Mutual Fund Portfolio Retuns on Your Mobile by Elite Kuber App


Elite-Kuber-Mutual-Fund-Promotional-Banner-img

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

Get Stock Market Recommendation By Our Research Analysts

Market-Research-Promotional-Banner-img5

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

Open Your Demat Account to Invest in Upcoming IPO’sDemat-and-Trading-Account-Promotion-Banner

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


For Daily Share Market Updates, Daily debt market review, Market Research Analysis reports, Weekly Techno-Funda Report, Fundamental Analysis Report, Monthly Recommended stock Picks, Equity Trading Tips, Upcoming IPO/NFO/Bonds/Ncd’s updates & other related information Subscribe our research plan