NIFTY:
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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