outlook-2019-12-20

 

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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