NIFTY:
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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