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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