NIFTY:

The Nifty opened at 14538.30 with a gap up of 17 points. The index recorded its intraday low at 14517.55 within the first 5 minutes. Prices have moved up for the whole day and recorded its intraday high at 14666.45 and Prices have finally closed at 14644.70 with a gain of 123.55 points. All the sectoral indices have closed  with gains except FMCG.  The Auto and IT sectors have led the rally and closed higher by more than 2%.

We had suggested a long trade on the continuing signs of strength. The idea was to wait till 9:30 and then take a long trade above the high of the first15 minutes. The index recorded the high at 14587 and then immediately took out this high. So we have taken a long trade there. Prices have neither touched the stop nor the target so our trade remains intact. Stay long with a stop 14550 and target of 14780.The Nifty continued moving higher for the second day and recorded a fresh lifetime high and closed above 14600 for the first time. It was trend day on the upside where the intraday low was near the opening and the intraday high near the closing price. A likely resistance is visible around 14700-14750 zones and support at 14200. This gives us a trading range of almost 500 points.

BANK NIFTY:

Bank Nifty opened at 32388.95 with a gap down of 49 points. The index initially went down and recorded its intraday low at 32322.90. Prices then traded very volatile and finally closed at 32543. PSU Banks performed better and closed higher by 2.07% while Private Banks have closed higher by 0.26%. Within the index, ICICI Bank contributed highest while HDFC Bank the lowest.

We had suggested a trade to buy above the first 15 minutes high. Keep a stop of 400 points and target of 1000 points. The index recorde its high around 32500 so our trade got executed there. In the morning prices opened weak but soon they found support thanks to the rally in the PSU Banks. A trading range inside 31700-32700 is  intact.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
ZEEL 228.60 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 223 and for the target 237
TATACHEM 536 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 527 and for the target 550

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
PNB 37 CE BUY 1.70 CMP 1.15 2.70 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
APOLLOTYRE.21.01 Jan 204.55 7.91 15.63 13980000 L&TFH.21.01 Jan 104.05 -1.75 15.4 29357100
SRF.21.01 Jan 5902 0.86 13.22 361875 TORNTPOWER.21.01 Jan 334.55 -1.68 10.91 4482000
TCS.21.01 Jan 3305 1.22 10.66 5382300 MOTHERSUMI.21.01 Jan 158.85 -0.87 8.63 29428000
BANKBARODA.21.01 Jan 80 5.12 10.32 54802800 BANDHANBNK.21.01 Jan 360.5 -0.96 8.45 25396200
HAVELLS.21.01 Jan 1030.8 0.87 10.26 4567000 PAGEIND.21.01 Jan 28460 -0.06 8.21 71580
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
BANKNIFTY.21.01 Jan 32560 0.12 -7.32 1467475 FINNIFTYW.21.01 Jan 15645.4 -0.1 -78.05 10360
GODREJPROP.21.01 Jan 1424 0.71 -3.83 1385800 TORNTPHARM.21.01 Jan 2723.7 -1.2 -2.45 827250
LICHSGFIN.21.01 Jan 432.1 0.83 -3.12 7512000 RECLTD.21.01 Jan 146.5 -0.95 -2.18 12924000
TATASTEEL.21.01 Jan 688.65 0.63 -3.04 38217700 GAIL.21.01 Jan 135.8 -1.49 -1.59 26114100
BHEL.21.01 Jan 40.7 2.39 -2.54 90090000 IDEA.21.01 Jan 13.3 -0.37 -1.56 810040000

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Aarti Industries Ltd. 1211.95 -1.88 362529 202834 71.54 Nifty Auto 10369.25 2.29 84615
Kotak Mahindra Bank Limi 1883.6 -0.18 3041448 3374148 70.21 Nifty it 26619.7 2.21 84615
Info Edge (india) Limite 5169.6 4.92 1445710 673375 69.93 Nifty Media 1754.2 1.06 84615
Power Grid Corporation o 196.15 -1.75 11901479 7425636 68.11 Nifty Metal 3437 0.93 84615
Torrent Power Limited 333.55 -1.64 2093618 1612479 63.45 Nifty 50 14644.7 0.85 84615
Icici Lombard General In 1494.9 -1 1607991 402112 57.98 Nifty Energy 17596.3 0.44 84615
Hdfc Life Insurance Comp 702.95 0.63 2495461 1162207 57.63 Nifty Bank 32543.7 0.37 84615
Icici Bank Ltd. 551 0.83 16097138 11834015 57.52 Nifty Pharma 12881.2 0.12 84615
Tata Consumer Products l 596.65 2.39 6156865 3145514 54.76 Nifty Realty 338.4 0.07 84615
Hindustan Unilever Ltd 2355.95 -0.3 1380562 790460 52.86 Nifty Fmcg 34605.35 -0.16 84615

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UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR:  FX Reserves, USD on 22nd January, 2021 •USD : Building Permits (Dec) on 21st January, 2021

•USD : Initial Jobless Claims on 21st January, 2021

NEWS UPDATES

•Bajaj Finance on Wednesday reported 30% decrease in standalone net profit at ₹1,049 crore for the quarter ending 31 December, 2020. It was ₹1,488 crore in the year-ago period. The consolidated net profit fell 29% to ₹1,146 crore as against ₹1,614 crore in year-ago period.

•Maruti Suzuki India began the export of Suzuki’s compact off-roader Jimny from India. The company, through an official release claimed that, the first shipment of 184 units left from Mundra port to Latin American countries such as Columbia and Peru. The three-door Suzuki Jimny will be exported to Latin America, the Middle East and African markets from India.

•Larsen & Toubro (L&T) on Wednesday said its construction arm has bagged orders worth up to Rs 5,000 crore in Bangladesh. The power transmission and distribution business of Larsen & Toubro has won a slew of transmission line orders in Bangladesh, the company said in a regulatory filing.

•Driven by a strong rebound in petrochemicals business, and supported by growth in the retail segment, Reliance Industries Ltd (RIL) is expected to clock a stellar sequential improvement in its net profit for the December quarter of the current financial year (Q3FY21). The firm is scheduled to report its Q3 earnings on Friday, January 22. Analysts are penciling-in up to 32 per cent sequential growth in RIL’s consolidated net profit, pegged at Rs 12,600 crore.

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

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BOARD MEETING

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
APOLLOTRI Quarterly Results 21-Jan-21 KAJARIACER Interim Dividend;Quarterly Results 21-Jan-21
ASIANPAINT Quarterly Results 21-Jan-21 MANINDS Quarterly Results 21-Jan-21
BAJAJ-AUTO Quarterly Results 21-Jan-21 MCX Quarterly Results 21-Jan-21
BAJAJHLDNG Quarterly Results 21-Jan-21 MPHASIS Quarterly Results 21-Jan-21
BANDHANBNK Quarterly Results 21-Jan-21 RADIOCITY Quarterly Results 21-Jan-21
BIOCON General;Quarterly Results 21-Jan-21 RPOWER Quarterly Results 21-Jan-21
CYIENT Quarterly Results 21-Jan-21 SBICARD Quarterly Results 21-Jan-21
IEX Interim Dividend;Quarterly Results 21-Jan-21 SOUTHBANK Quarterly Results 21-Jan-21
IIFLSEC* General;Quarterly Results 21-Jan-21 SRF Interim Dividend;Quarterly Results 21-Jan-21
JINDALSTEL Quarterly Results 21-Jan-21 WESTLIFE Quarterly Results 21-Jan-21
JKTYRE Quarterly Results 21-Jan-21 ZENSARTECH Interim Dividend;Quarterly Results 21-Jan-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
HCLTECH 21-Jan-21 Interim Dividend – Rs. – 4.00 DCMSHRIRAM 27-Jan-21 Interim Dividend – Rs. – 5.5000
L&TFH 21-Jan-21 Right Issue of Equity Shares GAIL 27-Jan-21 Interim Dividend – Rs. – 2.5000
TAALENT 21-Jan-21 Interim Dividend – Rs. – 20.00 GAIL 27-Jan-21 Buy Back of Shares
CESC 22-Jan-21 Interim Dividend – Rs. – 45.00 INDIGRID 27-Jan-21 Income Distribution (InvIT)
TOWERINFRA 22-Jan-21 Income Distribution (InvIT) SIEMENS 27-Jan-21 Final Dividend – Rs. – 7.00
WIPRO 22-Jan-21 Interim Dividend – Rs. – 1.00 GMM 28-Jan-21 Interim Dividend


DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014

Elite Wealth Ltd. 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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