outlookNIFTY:

The Nifty opened at 13764.40 with a gap up of 24 points. Prices have seen a sharp decline in the first hour of trading and recorded its intraday low at 13658.60. Prices have then seen a modest upside move for the rest of the day and finally closed at 13760.55 up by 20 points. The IT and Pharma Sectors have seen an upside move and closed higher by more than 1%. Banks and Financials have underperformed .

We were long in the index from 13666 and we had suggested closing this position around 13750. By 9:20 AM we closed our position with a gain of 84 points. The past week Nifty gained almost 240 points. Prices have continuously made lifetime new highs and closing higher. However the intraday movement was very narrow during the week suggesting large range days could be seen.

The trend remained consistently up. With lifetime new highs being recorded regularly. The intermediate trend is also up. Momentum is also in the strength area.

BANK NIFTY:

Bank Nifty opened at 30841.85 without much of a gap. In the first hour of trading, prices have seen a decline of more than 400 points and then traded sideways and narrow. In the second half prices have seen some recovery and finally closed at 30714. Private and PSU Banks both have performed almost same and closed lower by 0.74% and 0.71% respectively. Within the index, in terms of points, ICICI Bank contributed highest while HDFC Bank the lowest.

We were long in the index from 30900. Prices have broken the stop loss of

30500 and we closed this trade with a loss of 400 points.

The index is back in its range of 30300-30900. Since the range is very narrow so we should see a decisive breakout either side this week.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
NAUKRI 4644.25 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at  4610 and for the target 4710.
SUNPHARMA 575 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 568 and for the target 588.

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
MINDTREE 1480 CE BUY 46.65 CMP 38 58 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
COFORGE.20.12 Dec 2566.85 1.83 21.99 588750 MFSL.20.12 Dec 651.05 -1.39 7.14 8564400
CUMMINSIND.20.12 Dec 614.5 3.86 14.4 1916400 APOLLOTYRE.20.12 Dec 192.2 -2.66 5.71 9620000
AMARAJABAT.20.12 Dec 942.35 0.84 9.81 1835000 ONGC.20.12 Dec 99.45 -2.26 5.44 41764800
MINDTREE.20.12 Dec 1479.75 1.46 5.9 1492800 PETRONET.20.12 Dec 258.35 -0.81 5.09 13140000
SHREECEM.20.12 Dec 24576.95 0.15 5.51 146500 UBL.20.12 Dec 1141.55 -0.09 4.87 1402100
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
DRREDDY.20.12 Dec 5232.75 2.75 -17.51 2887875 CHOLAFIN.20.12 Dec 375.2 -0.2 -11.14 4567500
GAIL.20.12 Dec 125.25 0.64 -8.67 22502900 JUBLFOOD.20.12 Dec 2768.45 -1.46 -10.4 1585500
VOLTAS.20.12 Dec 830.25 0.44 -8.51 2377000 M&MFIN.20.12 Dec 176.25 -0.45 -7.63 11964456
AMBUJACEM.20.12 Dec 251.3 1.43 -8.47 17301000 COALINDIA.20.12 Dec 142.2 -1.08 -6.34 26251500
SAIL.20.12 Dec 57.55 0.17 -7.82 78413000 BANKNIFTY.20.12 Dec 30735.75 -0.35 -5.76 1527050

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Sbi Life Insurance Compa 857.15 0.09 1469894 1113220 67.46 Nifty it 23256.55 1.59 2972504
Icici Lombard General In 1461.45 -1.09 794647 354954 62.61 Nifty Pharma 12762.35 1.27 53995717
Petronet Lng Limited 257.7 -0.64 7133354 1867968 60.1 Nifty Fmcg 34102.7 0.26 1070194
Hcl Technologies Ltd. 890.65 1.29 11568187 2865075 58.91 Nifty 50 13760.55 0.14 49970827
Balkrishna Ind. Ltd 1613.45 -1.53 752508 468376 58.19 Nifty Media 1691.75 -0.12 404833808
Hdfc Ltd. 2479.4 -0.61 4189517 4245187 57.53 Nifty Auto 9168.65 -0.18 74930043
Hdfc Bank Ltd. 1411.35 -2.11 11497959 6194289 56.51 Nifty Metal 3216.6 -0.34 213016564
Infosys Limited 1189.8 2.64 15995676 3675884 55.21 Nifty Bank 30714.65 -0.43 22345639
Torrent Power Limited 329.9 1.09 1552562 696714 54.78 Nifty Energy 17231.95 -0.53 2322146
Hindustan Unilever Ltd 2333.45 0.78 2229891 993001 51.91 Nifty Realty 303.8 -0.61 2147483500

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR:  FX Reserves, USD on 25th December, 2020 •USD:  Existing Home Sales (Nov) on 22nd December, 2020

•USD:  New Home Sales  on 23rd December, 2020

NEWS UPDATES

•Reliance Industries Ltd. and its partner bp Plc of the U.K. have announced the commencement of natural gas production from Asia’s deepest project, according to a company filing with the stock exchanges. The production from ultra-deepwater R-Cluster, the first of the three deepsea projects Reliance-bp are developing in the eastern offshore KG D6 block, started production.

•Prestige Estates is in advanced stages of signing a joint development deal with Century Real Estate for a 16-acre land parcel in the capital city of Karnataka, according to a source in the know. The parcel, owned by Century, is located in Hebbal area of Bengaluru and is valued at around Rs 600 crore, sources said. The land has a development value of Rs 12,000-14,000 crore, sources said.

•Apollo Hospitals Enterprises (AHEL) is planning to raise around Rs 1,500 crore in the next two months to support its inorganic growth and strengthen balance sheet and its digital platform. It’s an “indicative figure, not definite”, Suneeta Reddy, managing director, Apollo Hospitals Group, said.

•More than a year after announcing the restructuring of the firm into two separate divisions to unlock shareholder value, Jubilant Life Sciences is now looking to raise funds for its pharma business on the back of strong demand recovery and new business tie-ups. The company is looking to raise around $500 million via this transaction.

Source: Economic Times,  Moneycontrol  ,Business Today, Livemint, Business Standard, Bloomberg Quint

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BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
BPCAP General 21-Dec-20 NAVKETAN General 22-Dec-20
CHEMCON General 21-Dec-20 PROVESTSER General 22-Dec-20
DWL A.G.M.;Half Yearly Results;General 21-Dec-20 SPANDANA General 22-Dec-20
EUROLED General 21-Dec-20 TIGLOB Voluntary Delisting of Shares 22-Dec-20
GENNEX General 21-Dec-20 WELLESLEY General;Quarterly Results 22-Dec-20
IFLPROMOT Audited Results 21-Dec-20 20MICRONS General 23-Dec-20
MOUNTSHIQ General 21-Dec-20 ARAMBHAN General 23-Dec-20
RAJPALAYAM Right Issue of Equity Shares 21-Dec-20 CRPRISK A.G.M.;Results;Half Yearly Results 23-Dec-20
SATIA General 21-Dec-20 DHAMPURSUG General 23-Dec-20
SNOWMAN Preferential Issue of shares 21-Dec-20 ABANSENT Interim Dividend 24-Dec-20
STERPOW A.G.M.;General;Quarterly Results 21-Dec-20 BNRSEC General 24-Dec-20

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
NIKHILAD 21-Dec-20 Final Dividend – Rs. – 1.00 STARLINE 22-Dec-20 Stock  Split From Rs.10/- to Rs.5/-
ANANTRAJ 22-Dec-20 Dividend – Rs. – 0.0800 VEDAVAAG 22-Dec-20 Final Dividend – Rs. – 1.00
BAMBINO 22-Dec-20 Dividend – Rs. – 1.60 MJCO 23-Dec-20 Interim Dividend – Rs. – 974.00
GMDCLTD 22-Dec-20 Dividend – Rs. – 2.00 RAJESHEXPO 23-Dec-20 Dividend – Rs. – 1.00
INANI 22-Dec-20 Dividend – Rs. – 0.0400 TOWERINFRA 23-Dec-20 Income Distribution (InvIT)
MANCREDIT 22-Dec-20 Final Dividend – Rs. – 0.50 GUJRAFIA 24-Dec-20 E.G.M.
ORIBEVER 22-Dec-20 Dividend – Rs. – 0.50 VALIANTORG 24-Dec-20 Bonus issue 1:1
OSIAJEE 22-Dec-20 Annual Book Closure ANISHAIMPEX 04-Jan-21 E.G.M.
RCF 22-Dec-20 Final Dividend – Rs. – 2.8400 STEELXIND 07-Jan-21 E.G.M.

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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