NIFTY:
The NIFTY rally continues to gain strength with lifetime new highs recorded once more in the index. Not just new highs, the index also closed at the top of the day’s trading range.
We have two other factors supporting us:
One: A rally that is going on worldwide.
Two: A seasonal bullish bias which comes about in December.
These two factors have given fuel to trader’s appetite for risk. Now support comes at 12150. With this support line as a stoploss, traders should look to buy every dip in the index. We usually fine these dips come every day during trading hours.
Possible target for the current up move:
the NIFTY was moving in a trading range between 11900 and 12150- A range of 250 points. Once the NIFTY broke out about 12150, we can look for a target of 12400.
VIEW:
Buy on a dip towards 12235 with a stop just below 12200.
TECHNICAL PICKS
| COMPANY | CMP | B/S | RATIONALE |
| SRF | 3329.50 | 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 3300 and for the target of 3375-3396. |
| UPL | 562.75 | SELL | The immediate trend of the stock is weak . The stock can be sell with a stop loss of 570 and for the target of 550. |
DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| BHARTIARTL | 455 CE | BUY | 7.55 | CMP | 4 | 13 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| EICHERMOT.Dec 26 | 22425 | 2.55 | 13.26 | 322325 | MINDTREE.Dec 26 | 759.2 | -0.8 | 16.87 | 1342800 | |
| ZEEL.Dec 26 | 280.4 | 0.05 | 12.99 | 32052800 | CHOLAFIN.Dec 26 | 305.4 | -1.24 | 11.17 | 3905000 | |
| ESCORTS.Dec 26 | 628 | 2.34 | 12.98 | 5974100 | IDEA.Dec 26 | 6.45 | 0 | 9.62 | 491652000 | |
| TORNTPHARM.Dec 26 | 1831.4 | 0.26 | 12.6 | 344000 | ACC.Dec 26 | 1450 | -0.24 | 9.21 | 3606400 | |
| ASHOKLEY.Dec 26 | 81.2 | 1.37 | 11.02 | 57234000 | DRREDDY.Dec 26 | 2866 | -0.27 | 8.68 | 3232500 | |
| Short Covering | Long unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| IDFCFIRSTB.Dec 26 | 43.8 | 2.58 | -5.77 | 1.62E+08 | TATAELXSI.Dec 26 | 861.65 | -1.02 | -8.69 | 1285800 | |
| VOLTAS.Dec 26 | 656.45 | 0.14 | -1.68 | 3521000 | CENTURYTEX.Dec 26 | 484.9 | -0.74 | -8.17 | 3107400 | |
| APOLLOTYRE.Dec 26 | 165.2 | 0.06 | -1.23 | 8901000 | HEXAWARE.Dec 26 | 338.9 | -0.19 | -2.02 | 1384500 | |
| CADILAHC.Dec 26 | 261.95 | 0.83 | -1.21 | 5856000 | PEL.Dec 26 | 1630.25 | -0.75 | -1.76 | 3749934 | |
| FEDERALBNK.Dec 26 | 86.8 | 0.64 | -0.99 | 56539000 | SUNTV.Dec 26 | 445.8 | 0 | -1.42 | 3266000 | |
Top Delivery Percentage
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Petronet LNG Limited | 276.8 | -0.43 | 946026 | 2203195 | 82.07 | Nifty Auto | 8165.5 | 1.03 | 84534 | |
| THE RAMCO CEMENTS | 764.7 | -0.82 | 85299 | 415707 | 77.67 | Nifty Energy | 16112.9 | 0.98 | 84534 | |
| Exide Industries Ltd | 181.05 | -1.17 | 2335168 | 2049262 | 73.52 | Nifty IT | 15812.95 | 0.65 | 84534 | |
| Power Grid Corporation o | 186.4 | -0.43 | 3234039 | 4158687 | 73.2 | Nifty FMCG | 30386.1 | 0.31 | 84534 | |
| Tata Chemicals Ltd. | 649.25 | 0.79 | 521545 | 629394 | 71.9 | Nifty 50 | 12259.7 | 0.31 | 84531 | |
| Kotak Mahindra Bank Limi | 1729.5 | 0.3 | 2701502 | 3261383 | 71.01 | Nifty Metal | 2691.1 | 0.13 | 84534 | |
| HCL Technologies Ltd. | 569.5 | 0.85 | 3465644 | 3263748 | 70.67 | Nifty Media | 1766.45 | 0.03 | 84534 | |
| UltraTech Cement Limited | 4037.85 | -0.68 | 375655 | 543945 | 66.39 | Nifty Bank | 32241.45 | -0.01 | 84534 | |
| NTPC Limited | 114.05 | -0.09 | 5995825 | 5557085 | 64.42 | Nifty Pharma | 8073.05 | -0.22 | 84534 | |
| ICICI BANK LTD. | 540.2 | -0.22 | 12082790 | 7897602 | 61.19 | INDIA VIX | 12.12 | -1.76 | 84531 | |
Upcoming Economic Data
| Domestic International | |
| •INR: Bank Loan Growth on 20th December 2019
•INR : FX Reserves, USD on 20th December 2019 |
•USA: GDP (QoQ) (Q3) on 20th December 2019
•USA: Personal Spending (MoM) (Nov) on 20th December 2019 |
News Updates
| •The Federation of Automobile Dealers Associations (FADA) that represents over 25,000 automobile dealers in the country has knocked on the doors of the Supreme Court for a breather for dealerships on the impending transition from BS IV to BS VI emission norms. On April 1, 2020, India will become the first country in the world to leapfrog from BS IV to BS VI norms.
•Bharti Airtel share price rallied 4 percent intraday on December 19 after Chairman Sunil Bharti Mittal said he expected average revenue per user (ARPU) at Rs 300 per month in future. We need to balance consumer interest and investment, and we want government to make doing business easy in India,” Mittal told media after the meeting. •Auto major Tata Motors on Thursday unveiled its first electric SUV Nexon EV that will be commercially launched within weeks. The SUV, built on its most popular SUV Nexon, is the first electric vehicle (EV) powered by Ziptron technology and offers “a range not less than 300 km per charge” and can accelerate to 100 kmph in just 9.9 seconds. •Tech Mahindra announced a strategic alliance with New York and Munich-based Celonis, a company that builds process mining software on Thursday. The partnership intends to help in the digital transformation of the companies’ customers globally with an artificial intelligence-based solution for business process services. Source :Moneycontrol, Business Today ,Economic Times |
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| ASPL | General | 20-Dec-19 | PGEL | General;Preferential Issue of shares | 23-Dec-19 |
| BCG | Preferential Issue of shares | 20-Dec-19 | SOLIDCO | General | 23-Dec-19 |
| KRANTI | General | 20-Dec-19 | SUNEDISON | Employees Stock Option Plan | 23-Dec-19 |
| PRESTIGE | Preferential Issue of shares | 20-Dec-19 | SUNFLAG | General | 23-Dec-19 |
| SUNEDISON | Employees Stock Option Plan | 20-Dec-19 | VISIONCINE | General | 23-Dec-19 |
| USHDI | Quarterly Results | 20-Dec-19 | FERMENTA | Bonus issue;ESOP | 24-Dec-19 |
| WELLNESS | General;Quarterly Results | 20-Dec-19 | KSERASERA | General | 24-Dec-19 |
| DHANCOT | General | 21-Dec-19 | LANCER | General | 24-Dec-19 |
| GNRL | General | 21-Dec-19 | MIDINFRA | General | 24-Dec-19 |
| AICHAMP | Preferential Issue of shares | 23-Dec-19 | SBC | Quarterly Results | 24-Dec-19 |
| HINDSECR | General | 23-Dec-19 | STAMPEDE | General | 24-Dec-19 |
| NIITTECH | Buy Back of Shares | 23-Dec-19 | ULTRACAB | General | 24-Dec-19 |
| ASPL | General | 20-Dec-19 | PGEL | General;Preferential Issue of shares | 23-Dec-19 |
Corporate Action
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| ABB | 20-Dec-19 | Spin Off | ABANSENT | 26-Dec-19 | Interim Dividend – Rs. – 0.10 |
| RSYSTEMINT | 20-Dec-19 | Interim Dividend – Rs. – 1.50 | AXITA | 26-Dec-19 | Bonus issue 1:1 |
| CHOLAFIN | 23-Dec-19 | Interim Dividend – Rs. – 1.00 | BALMLAWRIE | 26-Dec-19 | Bonus issue 1:2 |
| KESORAMIND | 24-Dec-19 | Spin Off | INGERRAND | 30-Dec-19 | Special Dividend – Rs. – 25.00 |
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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