NIFTY:
The Nifty opened at the record level above 14700 at 14730.95 with a gap up of 86 points. The index rallied further and recorded its intraday high at 14753.55. The index traded sideways and narrowly in the first half and managed to hold onto the gains. A sharp decline in the second half of more than 200 points from the intraday high to intraday lows erased all the gains and the index finally closed at 14590.35 down by 54.35 points. All the sectoral indices have closed with losses led by the Media and Realty sectors. We have taken a long trade around 14587 with a tight stop of 14550 and a target of around 14780. A sharp decline in the second half hit the stop loss level at 14550 and our long trade closes there with a loss of just 37 points.
Yesterday we had mentioned that a likely resistance is visible around 14700-14750 zones. The index made its intraday high around 14750 and then fell down from that point. On the lower side. A strong support is visible around 14200.We now have a trading range that is 500 points large. Within this range, we feel that trades should continue with buy on dips until we see some reversal signal. That comes when prices close below 14200 support. Volatility was very high & we may see some choppy price action.
BANK NIFTY:
Bank Nifty opened at 32732.80 with a gap up of 236 points. The index initially went further upside and recorded its intraday high at 32842.30. Around 2:00 PM prices have begun to falling down and recorded its intraday low at 31985.55. The index finally closed at 32186.90. PSU Banks have seen a sharp decline and closed lower by 3.27% while Private Banks also closed lower by 1%. Within the index, in terms of points, ICICI Bank contributed highest while HDFC Bank the lowest. We were long in the index from 32500 with a stop at 32100 and a target around 33500. A sharp decline in the second half hit our stop. A gap up opening did not sustain and index erases all the gains and closed lower. Range of 31700-32700 remained intact.
Trade AnyTime AnyWhere With Elite Empower Mobile App
TECHNICAL PICKS
| COMPANY | CMP | B/S | RATIONALE |
| NATIONAL ALUM | 47.80 | BUY | The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 46 and for the target 51. |
| ASIANPAINTS | 2716.35 | BUY | The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 2695 and for the target 2780 |
Get All Your Mutual Fund Portfolio Retuns on Your Mobile by Elite Kuber App
DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| BALKRISHNAN | 1700 CE | BUY | 38 | CMP | 28 | 60 | OI increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| VOLTAS.21.01 Jan | 962.95 | 5.3 | 18.41 | 2643000 | SRF.21.01 Jan | 5710 | -3.07 | 26.84 | 429500 | |
| BERGEPAINT.21.01 Jan | 812 | 1.84 | 14.74 | 2629000 | INDUS TOWERS LIMITED.21. | 248.7 | -2.36 | 16.52 | 11474400 | |
| BAJFINANCE.21.01 Jan | 5138.05 | 2.93 | 12.42 | 6122750 | MGL.21.01 Jan | 1046.85 | -3.76 | 13.38 | 1916400 | |
| APOLLOTYRE.21.01 Jan | 219.75 | 8.38 | 11.97 | 15435000 | HDFCAMC.21.01 Jan | 3107.4 | -3.37 | 13.12 | 408600 | |
| HAVELLS.21.01 Jan | 1133.15 | 10.66 | 11.08 | 5012000 | AMBUJACEM.21.01 Jan | 255 | -2.95 | 12.65 | 17931000 | |
| Short Covering | Long Unwinding | |||||||||
| Stocks | Price | Price% | OI% | OI | Stocks | Price | Price % | OI % | OI | |
| NAUKRI.21.01 Jan | 5258 | 1.54 | -7.39 | 874500 | FINNIFTYW.21.01 Jan | 15540.55 | -0.87 | -75.2 | 9760 | |
| INDIGO.21.01 Jan | 1678.1 | 0.33 | -2.23 | 2983000 | GRASIM.21.01 Jan | 1026 | -1.1 | -27.33 | 12816450 | |
| ICICIBANK.21.01 Jan | 553.95 | 0.29 | -1.67 | 82766750 | MANAPPURAM.21.01 Jan | 165.35 | -2.07 | -11.19 | 14664000 | |
| MCDOWELL-N.21.01 Jan | 634.65 | 2 | -1.51 | 10387500 | CHOLAFIN.21.01 Jan | 436.75 | -4.76 | -6.01 | 4572500 | |
| UPL.21.01 Jan | 587.75 | 1.71 | -1.07 | 14731600 | PNB.21.01 Jan | 35.95 | -3.23 | -5.65 | 147248000 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Aarti Industries Ltd. | 1183.9 | -2.31 | 542336 | 260871 | 71.96 | Nifty Auto | 10367.75 | -0.01 | 83037 | |
| Power Grid Corporation o | 195.15 | -0.51 | 7036376 | 7879787 | 66.21 | Nifty Energy | 17564.15 | -0.18 | 83037 | |
| Container Corp Of India | 428.25 | -1.95 | 1176261 | 1645680 | 60.77 | Nifty Fmcg | 34494.4 | -0.32 | 83037 | |
| Hdfc Ltd. | 2663 | -0.94 | 3200138 | 3256961 | 56.44 | Nifty 50 | 14590.35 | -0.37 | 83037 | |
| Lalpathlab | 2296.8 | 0.03 | 314096 | 49381 | 55.38 | Nifty it | 26450.15 | -0.64 | 83037 | |
| Sbi Life Insurance Compa | 878.3 | -2.06 | 1913821 | 606255 | 52.85 | Nifty Bank | 32186.9 | -1.1 | 83037 | |
| Hindustan Unilever Ltd | 2367.65 | 0.5 | 1521133 | 725664 | 52.56 | Nifty Pharma | 12697.15 | -1.43 | 83037 | |
| Larsen & Toubro Limited | 1371.3 | -0.82 | 2985423 | 2065384 | 52.18 | Nifty Media | 1718.45 | -2.04 | 83037 | |
| Kotak Mahindra Bank Limi | 1857.8 | -1.37 | 5668862 | 1586357 | 52.16 | Nifty Metal | 3362.15 | -2.18 | 83037 | |
| Petronet Lng Limited | 245.85 | -1.46 | 4224234 | 1316792 | 51.49 | Nifty Realty | 329.75 | -2.56 | 83037 | |
Get Stock Market Recommendation By Our Research Analysts
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: FX Reserves, USD on 22nd January, 2021 | •USD : Existing Home Sales (Dec) on 22nd January, 2021
•USD : Crude Oil Inventories on 22nd January, 2021 |
NEWS UPDATES
| •Bandhan Bank showed the scars of a change in state rules and a challenging pandemic. Repayments from small borrowers floundered and stress on the balance sheet surged Bandhan Bank’s provisions trebled from the year ago period because the lender had to set aside ₹1000 crore specifically for pandemic-related stress in the December quarter. Additional stress on both asset quality and loan growth emanated from Assam where the government passed a new bill.
•The Competition Commission of India (CCI) has approved e-commerce marketplace Flipkart’s proposed acquisition of 7.8 per cent equity stake in Aditya Birla Fashion and Retail. Aditya Birla Fashion had approved the issuance of equity shares on a preferential basis to Flipkart for Rs 1,500 crore. In addition to approval of shareholders by way of postal ballot received on November 22, 2020), the issue was subject to regulatory approvals and completion of customary closing conditions under the investment agreement. •Asian Paints on Thursday reported a 62.28% jump in its consolidated profit to ₹1,265.35 crore for the third quarter ended December 31, 2020. The company had posted a profit of ₹779.71 crore during the same period of previous fiscal. •Two-wheeler major Bajaj Auto on Thursday reported 23% rise in standalone net profit at ₹1,556 crore for the quarter ending 31 December, 2020. It was ₹1,262 crore in the year-ago period. Revenue from operations increased 17% to ₹8,910 crore as compared to ₹7,640 crore in December 2019. Source: Economic Times, Moneycontrol ,Business Today, Livemint, Business Standard, Bloomberg Quint |
Open Your Demat Account to Invest in Upcoming IPO’s
BOARD MEETING
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| RELIANCE | Quarterly Results | 22-Jan-21 | RELHOME | Quarterly Results;General | 22-Jan-21 |
| 3IINFOTECH | General | 22-Jan-21 | REVATHI | Voluntary Delisting of Shares | 22-Jan-21 |
| APOLLOHOSP | General;Preferential Issue of shares | 22-Jan-21 | RKFORGE | Quarterly Results | 22-Jan-21 |
| CENTURYTEX | Quarterly Results | 22-Jan-21 | SBILIFE | Quarterly Results | 22-Jan-21 |
| CROMPTON | Quarterly Results | 22-Jan-21 | SIMPLEX | Audited Results | 22-Jan-21 |
| GLAND | Quarterly Results | 22-Jan-21 | SUMERUIND | Quarterly Results | 22-Jan-21 |
| HDFCLIFE | Quarterly Results | 22-Jan-21 | SWARAJENG | Quarterly Results | 22-Jan-21 |
| INDIANB | Quarterly Results;General | 22-Jan-21 | SYMPHONY | Dividend;Interim Dividend;Results | 22-Jan-21 |
| JSWSTEEL | Quarterly Results;General | 22-Jan-21 | VMART | Quarterly Results | 22-Jan-21 |
| KRITIIND | Quarterly Results;General | 22-Jan-21 | WENDT | Interim Dividend;Quarterly Results | 22-Jan-21 |
| KRITINUT | Quarterly Results;General | 22-Jan-21 | YESBANK | Quarterly Results;General | 22-Jan-21 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| CESC | 22-Jan-21 | Interim Dividend – Rs. – 45.0000 | INDIGRID | 27-Jan-21 | Income Distribution (InvIT) |
| TOWERINFRA | 22-Jan-21 | Income Distribution (InvIT) | SIEMENS | 27-Jan-21 | Final Dividend – Rs. – 7.0000 |
| WIPRO | 22-Jan-21 | Interim Dividend – Rs. – 1.0000 | GMM | 28-Jan-21 | Interim Dividend – Rs. – 1.0000 |
| DCMSHRIRAM | 27-Jan-21 | Interim Dividend – Rs. – 5.5000 | HAVELLS | 28-Jan-21 | Interim Dividend – Rs. – 3.0000 |
| GAIL | 27-Jan-21 | Buy Back of Shares | IEX | 28-Jan-21 | Interim Dividend |
| GAIL | 27-Jan-21 | Interim Dividend – Rs. – 2.5000 | SHREERAMA | 28-Jan-21 | E.G.M. |
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
For Daily Share Market Updates, Daily debt market review, Market Research Analysis reports, Weekly Techno-Funda Report, Fundamental Analysis Report, Monthly Recommended stock Picks, Equity Trading Tips, Upcoming IPO/NFO/Bonds/Ncd’s updates & other related information Subscribe our research plan