The NIFTY had a slow day today, moving almost nowhere throughout the day, eventually closing the market and the week, almost unchanged for the day. We suggested yesterday that the NIFTY may now be entering into a phase of consolidation.
Within this narrow range in which the index is now trading, today was a narrow range day. This brings us to a point where the NIFTY is narrowing inside an already narrow range.
The market trend is up, therefore, market participants should try to go with any move that suggests continued bullishness. This means, if there is a breakout in the NIFTY on the upside we should be looking to buy.
The range for the NIFTY is between 12279 and 12375. The index is pushing against the upper end of the range, but not actually breaking out.
Look to buy on dips.
|ASHOKLEY||84||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 82 and for the target of 87.50.|
|UPL||589.25||SELL||The immediate trend of the stock is weak . The stock can be sold at CMP with a stop loss of 595 and for the target of 580-575.|
|STOCK OPTION||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|UBL||1300 CE||BUY||27.50||CMP||18||45||OI Increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|TORNTPHARM.Jan 30||2016.2||4.22||27.74||373000||IDEA.Jan 30||4.55||-24.79||11.6||451682000|
|BHARTIARTL.Jan 30||498.6||5.43||9.74||52127862||INFRATEL.Jan 30||219||-9.35||0.46||13872000|
|DRREDDY.Jan 30||3045.85||3.23||7.34||3399250||IDFCFIRSTB.Jan 30||43.6||-3.65||1.89||182676000|
|ADANIENT.Jan 30||229||3.71||6.05||30696000||INDUSINDBK.Jan 30||1357.2||-2.57||3.58||16194000|
|TORNTPOWER.Jan 30||313.75||2.3||6.01||3228000||ICICIPRULI.Jan 30||483.1||-2.12||0.96||10212000|
|Short Covering||Long unwinding|
|BEL.Jan 30||108.8||2.59||-9.43||25410000||TATAGLOBAL.Jan 30||382||-0.98||-9.82||11210400|
|CASTROLIND.Jan 30||138.35||3.56||-8.9||7306200||JINDALSTEL.Jan 30||177.3||-1.28||-6.39||30520000|
|APOLLOTYRE.Jan 30||180.55||2.18||-7.53||9729000||MINDTREE.Jan 30||884.65||-1.29||-5.15||1518400|
|TATACHEM.Jan 30||748.5||1.22||-6.54||3140100||NBCC.Jan 30||37.75||-1.56||-4.13||33233200|
|HINDALCO.Jan 30||210.5||0.12||-6.03||43067500||NATIONALUM.Jan 30||46.5||-2.41||-4.06||43184700|
Top Delivery Percentage
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|Tata Power Co. Ltd.||61.55||0.9||6414265||10511504||72.24||Nifty Pharma||8345.3||1.73||45996050|
|Hindustan Unilever Ltd||2060.3||0.54||994719||1775070||71.9||Nifty Energy||16077.65||0.65||1907165|
|BRITANNIA IND LTD.||3124.45||-0.82||294064||527618||68.62||Nifty Auto||8427.6||0.38||45382367|
|Tata Chemicals Ltd.||747.35||1.28||1252299||725375||68.29||Nifty Media||1870.1||0.35||2.05E+08|
|Petronet LNG Limited||272.65||-0.84||2147084||1368363||68.1||Nifty FMCG||31371.45||0.11||404918|
|HDFC BANK LTD.||1278.15||-0.74||8459407||2251808||62.98||Nifty IT||16356.6||-0.15||1058495|
|HDFC Ltd.||2453.95||-1.13||2250437||1105011||61.58||INDIA VIX||14.13||-0.35||2.69E+08|
|ITC Ltd.||239.95||-0.33||7392403||5733970||61.2||Nifty Metal||2864.65||-0.7||1.33E+08|
|Dabur India Ltd.||489.65||0.42||1015739||1212119||60.22||Nifty Bank||31590.65||-0.83||12094791|
Upcoming Economic Data
|•INR: FX Reserves, USD on 24th January 2020||•USA: Existing Home Sale (Dec) on 22nd January 2020
•USA: Crude Oil Inventories on 23rd January 2020
|•Reliance Industries reported a 13.5 per cent rise in net profit for the quarter ended December 31, 2019, after a turnaround in oil refining business coupled with the continued rise of retail and telecom arms. It declared consolidated net profit of Rs 11,640 crore for the quarter under review, as opposed to Rs 10,251 crore in the corresponding quarter last year.In Q3 of FY19, RIL posted consolidated revenue of Rs 1.68 lakh crore in comparison to Rs 1.71 lakh crore in the same period last fiscal.
•Vodafone Idea may offer the government a small part of its statutory dues by January 23 to ensure it doesn’t get a defaulter’s tag or incur the displeasure of the Supreme Court, and then seek some relief. Simultaneously, the telco plans to seek an extension of the January 23 deadline from the Supreme Court.
•HCL Technologies, the country’s third-largest information technology services firm, reported a 16.3 per cent annual rise in net income in the quarter ended December 31, 2019, (Q3) of financial year 2019-20 (FY20) to Rs 3,037 crore. The company’s profit before tax in the December-ended quarter was Rs 2,991 crore.
•Reliance Industries is unlikely to close the deal for 20 per cent stake in its oil to chemicals business to Saudi Aramco by March 31 this year, according to a senior company official. In August last year, the company announced its plans to sell its 20 per cent stake in its flagship chemicals and refining business to Saudi Aramco in a deal valued at USD 15 billion.
Source: Economic Times, Moneycontrol ,Business Today, Business Standard, Bloomberg Quint,,
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|ABHIJIT||Quarterly Results||20-Jan-20||ISEC||Quarterly Results||20-Jan-20|
|APOLLOTRI||Quarterly Results||20-Jan-20||JUSTDIAL||General;Quarterly Results||20-Jan-20|
|BLSINFOTE||Quarterly Results||20-Jan-20||KEI||Quarterly Results||20-Jan-20|
|CANFINHOME||General;Quarterly Results||20-Jan-20||KOTAKBANK||Quarterly Results||20-Jan-20|
|COMPUPN||Quarterly Results||20-Jan-20||MAHABANK||Quarterly Results||20-Jan-20|
|DBSTOCKBRO||General;Quarterly Results||20-Jan-20||MONNETISPA||Quarterly Results||20-Jan-20|
|DECNGOLD||Quarterly Results||20-Jan-20||NATIONSTD||Quarterly Results||20-Jan-20|
|FEDERALBNK||Quarterly Results||20-Jan-20||NETLINK||General;Quarterly Results||20-Jan-20|
|HFCL||Quarterly Results||20-Jan-20||SAGARSOFT||Quarterly Results||20-Jan-20|
|HINDZINC||Quarterly Results||20-Jan-20||SANGHCO||Quarterly Results||20-Jan-20|
|INDOCITY||Quarterly Results||20-Jan-20||SBC||Half Yearly Results||20-Jan-20|
|Company Name||Ex-Date||Purpose||Company Name||Ex-Date||Purpose|
|SUVEN||21-Jan-20||Spin Off||WIPRO||24-Jan-20||Interim Dividend – Rs. – 1.00|
|DELTACORP||22-Jan-20||Interim Dividend – Rs. – 0.75||INDIGRID||27-Jan-20||Income Distribution (InvIT)|
|ASTERDM||23-Jan-20||Buy Back of Shares||SIEMENS||03-Feb-20||Dividend – Rs. – 7.0000|
|TCS||23-Jan-20||Interim Dividend – Rs. – 5.00||VINATIORGA||05-Feb-20||Stock Split From Rs.2/- to Rs.1/-|
|HCLTECH||24-Jan-20||Interim Dividend – Rs. – 2.00||FERMENTA||06-Feb-20||Bonus issue 2:1|
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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