outlook-2020-02-20

 

NIFTY:

Yesterday, we suggested buying the NIFTY with a stop under 12000. Today the markets moved a little upwards giving us a little opportunity to buy at the open. But there was a sharp dip intraday, which was a buying opportunity.

We have explained that support is now visible around 11950 and the index is likely to remain inside a consolidation. The index could well move towards the resistance level of 12250.

Positional trades

The NIFTY is likely to be in a consolidation and traders should wait patiently for this consolidation to break one way or the other.

VIEW:

Buy on a dip towards 12050 with a stop just below 12000.

Buy on a breakout above 12150 with a stop just below 12120.

TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
     CENTURYTEX 610.25 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  594 and for the target of  640.
      MARUTI 6756.60 SELL The immediate trend of the stock is weak . The stock can be sold  at CMP with a stop loss of  6850 and for  the target of  6450.

 

DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
ASIANPAINT 1880 CE BUY 28 CMP 16 48 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI   Stocks Price Price% OI % OI
VOLTAS.Feb 27 737.8 5.42 27.02 4250000 INDUSINDBK.Feb 27 1142.95 -0.13 16.48 16111200
TORNTPHARM.Feb 27 2243.9 4.89 26.06 488500 HCLTECH.Feb 27 606.85 -0.34 9.06 24536400
AUROPHARMA.Feb 27 604.6 20.64 17.73 17155000 APOLLOTYRE.Feb 27 151.1 -0.62 7.22 18534000
MINDTREE.Feb 27 1012 1.54 15.42 1024000 TATAMOTORS.Feb 27 158.3 -2.4 4.52 74222300
OIL.Feb 27 136.7 3.68 15.09 13813536 SAIL.Feb 27 41.7 -0.95 4.29 82393600
                                                                        Short Covering                                                                              Long unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
RAMCOCEM.Feb 27 803 1.63 -6.19 1248800 BHARTIARTL.Feb 27 545.35 -0.78 -0.18 52873815
SUNTV.Feb 27 487.6 4.64 -3.81 7638000 BANKBARODA.Feb 27 81.2 0 -0.1 77263200
CUMMINSIND.Feb 27 541.4 2.1 -3.67 1655100
NCC.Feb 27 43.5 4.95 -3.54 42858000
COLPAL.Feb 27 1353.15 1.84 -3.42 3344600

 

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Power Grid Corporation o 187.5 1.35 12551481 13897783 80.01   Nifty Pharma 8378.65 2.2 83190
HCL Technologies Ltd. 605.75 -0.21 3799862 3944951 75.32 Nifty Media 1882 1.96 83190
HDFC BANK LTD. 1227.2 1.15 5006134 3704300 70.36 Nifty Energy 15057.2 1.81 83190
HAVELLS INDIA LIMITED 618.55 3.01 1864746 1936710 69.17 Nifty FMCG 30835 1.56 83190
ITC Ltd. 206.7 1.4 9054560 14197051 67.82 Nifty Metal 2591.05 1.37 83190
Ambuja Cements Ltd 205.8 2.46 1630613 2642705 65.95   Nifty 50 12125.9 1.11 83190
Godrej Cons Products Ltd 622.6 0.3 2216292 637220 64.14   Nifty Bank 30838.2 0.9 83190
Petronet LNG Limited 265.65 2.19 1984243 1764088 63.25   Nifty IT 16772.5 0.14 83190
Hindustan Unilever Ltd 2292.15 2.58 1299800 755352 63.23   Nifty Auto 7687.35 -0.06 83190
ICICI BANK LTD. 544.8 0.67 8704234 9969245 62.63   INDIA VIX 14.02 -3.36 83190

 

Upcoming Economic Data

   Domestic                                                                                                                                                  International
•INR:  FX Reserves, USD on 21st Februrary,2020 •USA: Crude Oil Inventories on 20th February, 2020

•USA: Existing Home Sales (Jan) on 21st  Februrary,2020

 

News Updates

•State Bank of India has agreed to proceed with a restructuring proposal by wind power firm Suzlon Energy Ltd. Suzlon, which owes banks Rs 11,300 crore, had proposed to split its debt into a sustainable and an unsustainable part. The company sought to convert Rs 7,700 crore in debt into convertible debentures, which would be held in the investment books of banks. Debt worth about Rs 3,600 crore was seen as sustainable and would remain in the form of loans.

•While most analysts expect the outbreak of the novel coronavirus—that has so far killed more than 2,000 people in China—to hurt supply chain of domestic specialty chemical makers, Vinati Organics Ltd. sees no disruption. “None of the raw materials are imported from China by the company,” Vinati Saraf Mutreja, managing director at Vinati Organics, told BloombergQuint in an interview.

•Nelco a Tata group company Wednesday launched in-flight communication service in partnership with Panasonic for airlines in India. Users can use the Internet, and access applications and e-commerce sites while traveling. The move will also drive the usage of service,” Nelco managing director PJ Nath said.

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

 

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
A2ZINFRA Quarterly Results 20-Feb-20 SIS Interim Dividend 20-Feb-20
AMBUJACEM Final Dividend;Audited Results 20-Feb-20 TITAANIUM Preferential Issue of shares 20-Feb-20
AMTEKAUTO Quarterly Results 20-Feb-20 TRIDENT Interim Dividend 20-Feb-20
BARTRONICS A.G.M.;General 20-Feb-20 ANUHPHR Interim Dividend 21-Feb-20
BFINVEST Quarterly Results 20-Feb-20 AUTOLITIND Quarterly Results 21-Feb-20
CIL Quarterly Results 20-Feb-20 BAJAJ-AUTO Interim Dividend 21-Feb-20
FLFL Preferential Issue ;General 20-Feb-20 BAJAJFINSV Interim Dividend 21-Feb-20
JBCHEPHARM Interim Dividend 20-Feb-20 BAJAJHLDNG Interim Dividend 21-Feb-20
LLOYDSME General 20-Feb-20 BAJFINANCE Interim Dividend 21-Feb-20
MRSS General 20-Feb-20 BHARATFORG Interim Dividend 21-Feb-20
QUEST General 20-Feb-20 DIVINUS Quarterly Results 21-Feb-20
REDINGTON Interim Dividend 20-Feb-20 GENSOL General 21-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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