2020-01-18-OUTLOOK

NIFTY:

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.

VIEW:

Look to buy on dips.

TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
     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.

DERIVATIVE PICKS

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
Sector Price Price% OI% OI Sector Price Price% OI% OI
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
Sectors Price Change % Quantity
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
CHOLAMANDALAM 325.25 -0.57 931898 1451702 66.74 Nifty 50 12352.35 -0.03 30966339
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

   Domestic                                                                                                                                                  International
•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

News Updates

•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,,

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ABHIJIT Quarterly Results 20-Jan-20 ISEC Quarterly Results 20-Jan-20
AMS General 20-Jan-20 ITHL 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
GUJHOTE Quarterly Results 20-Jan-20 RITHWIKFMS General 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

Corporate Action

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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