outlookNIFTY:

The Nifty opened at 13373.65 with a gap up of 45 points. The index initially went down filled the gap and recorded its intraday low at 13192.90. Prices then traded sideways till the afternoon. Around 12:30, the index began moving higher. Prices have rallied almost 300 points in the second half and recorded its intraday high at 13492.05. The index ended at 13466.30 near its intraday highs with a gain of 137.90 points. All the sectoral indices have seen a  rally and closed higher led by IT and Pharma which closes higher by 3.56% and 2.22% respectively.

After a strong fall in day befores session. The Nifty took a breather and managed to close the day on a positive note. Moreover, a rally of 300 points in the second half suggests the bulls may be taking control again over the markets. Short term support is visible around 13200. Prices have bounced back from this support to close with decent gains.

If the index continues its bullish momentum then we should look to buy the index above 13500. Keep a stop at 13400 and a target of 13700.

BANK NIFTY:

Bank Nifty opened at 29605.70 with a gap up of 273 points. It was a tale of two halves. Prices have seen a sharp fall in the first half and then an equal rally in the second half. The index finally closed at 29625.95 with a gain of 300 points. Private and PSU Banks both have performed almost similar and closed higher by 0.57% and 0.97% respectively. Within the index, in terms of points, Axis Bank contributed highest while Kotak Bank the least.

Bank Nifty opened with a gap up but did not hold the gains long enough. Prices have first filled the gap and fell further towards 29000 support.

A range inside 29900 – 29200 is now visible which is acting as a support for the Bank Index.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
TECHM 944.65 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 930 and for the target 960-970.
TCS 2872.50 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 2840 and for the target 2920.

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
TATACONSUM 570 CE BUY 16.50 CMP 12 23 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
PFC.20.12 Dec 111.5 0.9 46.16 34943200 APOLLOTYRE.20.12 Dec 175.75 -0.59 17.76 10840000
MINDTREE.20.12 Dec 1535.1 7.78 30.73 1470400 SRTRANSFIN.20.12 Dec 941 -2.78 17.18 4995163
HCLTECH.20.12 Dec 918.05 5.44 22.42 22577100 PVR.20.12 Dec 1230 -5.22 13.24 1527878
HAVELLS.20.12 Dec 885 0.08 21.36 4005000 M&MFIN.20.12 Dec 164.8 -0.09 12.99 9164484
LICHSGFIN.20.12 Dec 348.3 0.14 15.59 8840000 RAMCOCEM.20.12 Dec 789.6 -0.34 11.23 1548700
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
CADILAHC.20.12 Dec 468.75 3.41 -8.07 6340400 GODREJPROP.20.12 Dec 1292 -0.36 -6.89 983450
SAIL.20.12 Dec 57.4 3.61 -5.89 60097000 ACC.20.12 Dec 1568.05 -0.15 -1.74 2904000
HDFCLIFE.20.12 Dec 641 1.79 -4.15 13664200 KOTAKBANK.20.12 Dec 1904.3 -0.67 -1.04 20724800
PNB.20.12 Dec 32.2 5.23 -3.92 164234000 GLENMARK.20.12 Dec 484.75 -0.74 -0.53 6308900
AMARAJABAT.20.12 Dec 923.8 2.57 -3.45 1680000 BHARATFORG.20.12 Dec 516 -1.48 -0.06 4968000

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Icici Lombard General In 1457.8 1.75 623046 428235 64.11 Nifty it 23611.6 3.36 79770
Sbi Life Insurance Compa 853.95 1.56 2263176 1264359 56.45 Nifty Pharma 12550.95 2.22 79770
Tata Consumer Products l 576 2.35 3264707 2682029 55.68 Nifty Metal 3079.65 1.36 79770
Colgate Palmolive (india 1546.8 0.34 592488 563672 53.87 Nifty Energy 16569 1.17 79770
Icici Prudential Life In 482.5 2.83 2183487 1094186 52.15 Nifty 50 13466.3 1.03 79770
Dabur India Ltd. 504.25 0.13 4879416 2583315 51.57 Nifty Auto 8818.6 0.84 79770
Hindustan Petroleum Corp 210.85 0.72 9377962 4937114 48.7 Nifty Media 1598.5 0.73 79770
Hdfc Bank Ltd. 1373.1 0.03 11425779 5752935 48.42 Nifty Bank 29625.95 0.58 79770
Power Grid Corporation o 190.3 2.59 13463164 5732340 47.16 Nifty Fmcg 33329.05 0.54 79770
Kotak Mahindra Bank Limi 1902.95 -0.93 5073744 1822259 46.23 Nifty Realty 289.15 0.45 79770

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UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR:  FX Reserves, USD on 25th December, 2020 •USD: Crude Oil Inventories  on 23rd December, 2020

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

NEWS UPDATES

•Electronics retailer Croma is set to add 100 stores by the end of the next financial year, its highest-ever yearly store addition. The move comes at a time when sales of home appliances, laptops and other electronics remained strong as the pandemic drove demand for washing machines and large-screen TVs. Croma is operated by Infiniti Retail Ltd—a wholly owned subsidiary of Tata Sons Pvt. Ltd. The company operates a multi-brand retail chain of consumer electronics and durables.

•Domino’s Pizza on Tuesday has introduced India’s first plant-protein based product — ‘The Unthinkable Pizza’, the Jubilant FoodWorks Limited said in the regulatory filing. The pizza is made from plant based proteins. Domino’s latest offering is “100% vegetarian and yet has the sensory properties of chicken,” the company said.

•The Union government has laid down the template for the transparent gas market price discovery and has empanelled SBI Capital Markets Ltd, MSTC Ltd, Crisil Risk and Infrastructure Solution Ltd, RITES Ltd and mjunction services Ltd to carry out discovery auctions through an electronic platform.

•Borosil Renewables Ltd. is the only solar glassmaker in India. Add to that some successful fundraising in order to double capacity for the second time in five years, and protection from an anti-dumping duty on its only competition — imports — and that may explain why the share price has risen 320% this year. In fact, the stock has risen around 500% from its 52-week low in March.

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
20MICRONS General 23-Dec-20 SBTL A.G.M.;Audited Results;General 24-Dec-20
ARAMBHAN General 23-Dec-20 AEL General 26-Dec-20
CRPRISK A.G.M.;Audited Results 23-Dec-20 BFUTILITIE Quarterly Results 26-Dec-20
DHAMPURSUG General 23-Dec-20 JTLINFRA Issue Of Warrants;General 26-Dec-20
PCJEWELLER Preferential Issue of shares 23-Dec-20 RAJOIL General 26-Dec-20
ABANSENT Interim Dividend 24-Dec-20 SIROHIA General 26-Dec-20
BNRSEC General 24-Dec-20 SUPREMEINF Audited Results;Quarterly Results 26-Dec-20
DHANVARSHA General 24-Dec-20 OLYMTFI General 27-Dec-20
DHRUV General 24-Dec-20 CELLA General 28-Dec-20
MOTILALOFS General;Scheme of Arrangement 24-Dec-20 PRIMEFRESH General 28-Dec-20
RAMASIGNS General 24-Dec-20 WEPSOLN Amalgamation;General 28-Dec-20

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
MJCO 23-Dec-20 Interim Dividend – Rs. – 974.00 MJCO 23-Dec-20 Interim Dividend – Rs. – 974.00
RAJESHEXPO 23-Dec-20 Dividend – Rs. – 1.00 RAJESHEXPO 23-Dec-20 Dividend – Rs. – 1.00
TOWERINFRA 23-Dec-20 Income Distribution (InvIT) TOWERINFRA 23-Dec-20 Income Distribution (InvIT)
GUJRAFIA 24-Dec-20 E.G.M. GUJRAFIA 24-Dec-20 E.G.M.
VALIANTORG 24-Dec-20 Bonus issue 1:1 VALIANTORG 24-Dec-20 Bonus issue 1:1
ENGINERSIN 31-Dec-20 Buy Back of Shares ENGINERSIN 31-Dec-20 Buy Back of Shares

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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