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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