2020-02-29-OutlookNIFTY:

There is no hard and fast rule that 10% is the limit. We may correct more. But the opportunity to enter the market has now become open and visible. Volatility remains high and unacceptable. While we would have suggested buying at current levels, the increased volatility prevents us from doing so. We therefore suggests that traders should wait and look to buy when prices stabilize.

We do feel that at least some buying may be done at the 11100-11200 range. The best way to enter the market is to buy NIFTY call option of 11000 strike for the month of April, not march.

Swing and Day Traders

Short-term traders are not going to have it easy in this volatile market. We do not think there are trading opportunity for this small timeframe. Opportunity will come when volatility comes down.

TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
     DIVISLAB 2106.95 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  2087  and for the target of  2160.
      COALINDIA 168.40 SELL The immediate trend of the stock is weak . The stock can be sold  at CMP with a stop loss of  172 and for  the target of  159.

DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
IBULHSGFIN 280 PE BUY 29.65 CMP 19.30 50 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
IDEA.Mar 26 3.9 2.63 310.24 502544000 YESBANK.Mar 26 29.05 -21.38 250.15 276548800
VEDL.Mar 26 110.05 -15.7 51.29 63885500
PFC.Mar 26 109.4 -12.37 1138.24 45371600
GMRINFRA.Mar 26 20.05 -12.25 3471.32 207315000
IBULHSGFIN.Mar 26 278.4 -11.91 651.21 20436000
                                                                        Short Covering                                                                              Long unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
PETRONET.Mar 26 244.45 -6.31 -31.39 7908000

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Shree Cements Ltd. 22670.95 -4.79 91009 65394 81.73 INDIA VIX 23.24 30.86 260447594
BANDHAN BANK LIMITED 383.5 -3.84 12490831 8888649 68.96 Nifty FMCG 29310.25 -2.24 1125953
Dabur India Ltd. 496.1 -2.02 4192788 2240507 68.61 Nifty Energy 13651 -2.97 3138568
Tata Chemicals Ltd. 714 -2.43 1827064 1314731 66.94 Nifty Bank 29147.15 -3.44 19514138
Power Grid Corporation o 181.5 -2.65 15756175 10303917 64.34 Nifty 50 11201.75 -3.71 50700974
ICICI BANK LTD. 497.25 -3.51 32737933 16929415 64.33 Nifty Auto 6903.95 -3.83 82281063
HCL Technologies Ltd. 534.35 -6.75 7894806 2571171 63.05 Nifty Pharma 7576.75 -3.91 74619177
Petronet LNG Limited 245.6 -5.77 2842945 1608593 60.65 Nifty Media 1670.7 -5.1 337913979
CHOLAMANDALAM 306.5 -2.56 2260806 926288 60.01 Nifty IT 15212.95 -5.65 2166829
HDFC BANK LTD. 1177.65 -1.82 12156528 6138007 59.43 Nifty Metal 2246.05 -6.8 250009902

Upcoming Economic Data

   Domestic                                                                                                                                                  International
•INR: Nikkei Markit Manufacturing PMI (Feb) on 2nd March ,2020

•INR: Nikkei Services PMI  (Feb) on 4th March ,2020

•USA: ISM Manufacturing PMI (Feb)  on  2nd  March, 2020

•USA: ISM Non-Manufacturing PMI (Feb) on 4th  March,2020

News Updates

•The Reserve Bank of India has approved the appointment of Sumant Kathpalia as managing director and chief executive officer of IndusInd Bank Ltd., with effect from March 24, for a period of three years. The private lender informed the exchanges today that Kathpalia would take over immediately after the incumbent, Romesh Sobti, retires.

•SBI Cards and Payment Services (SBI Cards), a subsidiary of State Bank of India (SBI), has allotted nearly Rs 2,800 crore worth of shares to anchor investors. These are institutional investors that commit to subscribe to the shares in the initial public offering (IPO) ahead of its opening. Many other investors look at the demand and quality of the anchor book to decide whether to apply in the IPO.

•In a boost for public sector construction company NBCC’s bid for Jaypee Infratech, the Supreme Court has ruled that 858 acres belonging to the bankruptcy-hit company was wrongfully mortgaged by its parent Jaiprakash Associates (JAL) and said it was a “preferential” transaction.

•Tata Motors is winding up its auto retail business Concorde Motors as part of its strategy to move away from non-core businesses. Set up in the late 90s in partnership with Jardine Matheson’s Jardine Motors, the Concorde retail business over the years has been losing money on account of high costs and low volumes.

Source: Economic Times,  Moneycontrol  ,Business Today, Business Standard, Bloomberg Quint

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
AUTOAXLES Interim Dividend 02-Mar-20 NEXUSCOMMO General 02-Mar-20
AXTEL Interim Dividend 02-Mar-20 RSTL General 02-Mar-20
BIRLAPREC General 02-Mar-20 SIPTL General 02-Mar-20
CSL Preferential Issue of shares 02-Mar-20 VINATIORGA Interim Dividend 02-Mar-20
GEL General 02-Mar-20 ALBERTDA Interim Dividend;General 03-Mar-20
JONJUA General 02-Mar-20 BRAHMINFRA Quarterly Results;General 03-Mar-20
KABRADG General 02-Mar-20 CONTCHM General 03-Mar-20
KDDL Interim Dividend;General 02-Mar-20 DRA General 03-Mar-20
KRL Interim Dividend 02-Mar-20 ELDEHSG Interim Dividend 03-Mar-20
LLOYDSME Issue Of Warrants;General 02-Mar-20 EMPIND Interim Dividend 03-Mar-20
MANINFRA Interim Dividend 02-Mar-20 ENDURANCE Interim Dividend 03-Mar-20
NBVENTURES Interim Dividend 02-Mar-20 FAZE3Q Interim Dividend 03-Mar-20

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
BERGEPAINT 02-Mar-20 Interim Dividend – Rs. – 1.90 BAJAJFINSV 03-Mar-20 Interim Dividend – Rs. – 5.00
MASFIN 02-Mar-20 Interim Dividend – Rs. – 6.00 BAJAJHLDNG 03-Mar-20 Interim Dividend – Rs. – 40.00
NIITLTD 02-Mar-20 Interim Dividend – Rs. – 8.00 BAJFINANCE 03-Mar-20 Interim Dividend – Rs. – 10.00
QUICKHEAL 02-Mar-20 Interim Dividend – Rs. – 4.00 BHARATFORG 03-Mar-20 Interim Dividend – Rs. – 2.00
TECHM 02-Mar-20 Interim Dividend – Rs. – 10.00 JBCHEPHARM 03-Mar-20 Interim Dividend – Rs. – 10.00
ALUFLUOR 03-Mar-20 Interim Dividend – Rs. – 2.00 MAHSCOOTER 03-Mar-20 Interim Dividend – Rs. – 50.00
ASIANPAINT 03-Mar-20 Interim Dividend – Rs. – 7.15 REDINGTON 03-Mar-20 Interim Dividend – Rs. – 2.80
BAJAJ-AUTO 03-Mar-20 Interim Dividend – Rs. – 120.00 SIS 03-Mar-20 Interim Dividend – Rs. – 2.00

 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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