NIFTY:
The NIFTY opened with an upward gap of 49 points. Prices have quickly moved down filled the gap and then continued its weak momentum for the whole day. Final closing was at 12106.90 down by 62.95 points.
The NIFTY also broke down from a support zone identified earlier around 12120-12150 zone. We have discussed if this support breaks then the next support may emerge 11929 which is almost 180 points lower from current levels. The NIFTY may or may not reach that level but this breakdown leaves us with uncertanity. We do not have a clear view as of now.
Back to back decline in NIFTY ( more then 300 points in last three days) may lead prices to a phase of consolidation. So traders should look to buy on a sharp dip and sell on sharp rallies.
VIEW:
Look to buy on a sharp dip and sell on sharp rallies.
TECHNICAL PICKS
| COMPANY | CMP | B/S | RATIONALE |
| ICICIPRULI | 506.50 | BUY | The stock has given the breakout with volume on the intraday as well as on the daily chart. The stock can be bought at CMP with a stop loss of 498 and for the target of 520. |
| BAJAJAUTO | 3074.85 | SELL | The immediate trend of the stock is weak . The stock can be sold at CMP with a stop loss of 3402and for the target of 3030. |
DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| INFY | 770 CE | BUY | 10.85 | CMP | 6.50 | 18 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| PFC.Jan 30 | 108.85 | 2.16 | 51.73 | 55955000 | OIL.Jan 30 | 135.35 | -6.46 | 55.63 | 7987650 | |
| IOC.Jan 30 | 114.7 | 1.28 | 46.46 | 117728000 | COALINDIA.Jan 30 | 191.3 | -5.23 | 44.87 | 25682400 | |
| TORNTPOWER.Jan 30 | 316.5 | 0.3 | 18.61 | 3843000 | POWERGRID.Jan 30 | 197.5 | -1.89 | 40.79 | 28180000 | |
| ZEEL.Jan 30 | 299.2 | 5.3 | 14.05 | 34122400 | ONGC.Jan 30 | 116 | -5.54 | 37.47 | 44972900 | |
| RECLTD.Jan 30 | 135.65 | 0.86 | 13.45 | 23532000 | NTPC.Jan 30 | 112.45 | -4.38 | 34.63 | 72086400 | |
| Short Covering | Long unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| BALKRISIND.Jan 30 | 1103 | 0.92 | -3.48 | 1976800 | MRF.Jan 30 | 67790 | -0.29 | -2.5 | 19490 | |
| CESC.Jan 30 | 749 | 0.09 | -1.96 | 1360000 | MFSL.Jan 30 | 520 | -1.26 | -2.16 | 9770800 | |
| NATIONALUM.Jan 30 | 45.5 | 0.44 | -1.39 | 39885300 | CASTROLIND.Jan 30 | 130 | -1.85 | -1.86 | 6924900 | |
| TECHM.Jan 30 | 781.05 | 0.06 | -1.34 | 15638400 | MANAPPURAM.Jan 30 | 179 | -0.47 | -1.78 | 17550000 | |
| CENTURYTEX.Jan 30 | 571 | 1.96 | -0.7 | 3394200 | SIEMENS.Jan 30 | 1585.4 | -0.1 | -1.1 | 2231900 | |
Top Delivery Percentage
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Page Industries Limited | 25428.2 | 0.51 | 16828 | 61814 | 77.48 | INDIA VIX | 16.36 | 3.15 | 82350 | |
| Divi s Laboratories Limi | 1855.15 | -0.84 | 460611 | 276299 | 70.23 | Nifty Media | 1909 | 1.73 | 82350 | |
| UPL LIMITED | 562.95 | -2.55 | 7453773 | 3325848 | 69.44 | Nifty IT | 16334.55 | 0.99 | 82350 | |
| CHOLAMANDALAM | 317.5 | 0.81 | 2017725 | 1954546 | 69.2 | Nifty FMCG | 31153.15 | 0.02 | 82350 | |
| ITC Ltd. | 238.05 | -0.17 | 7654918 | 6175670 | 64.52 | Nifty Realty | 320.85 | -0.09 | 82350 | |
| Infosys Limited | 770.2 | 1.01 | 9733935 | 2831904 | 63.66 | Nifty Pharma | 8256.65 | -0.21 | 82350 | |
| Indian Oil Corp. Ltd. | 113.65 | -1 | 71728557 | 28972528 | 62.29 | Nifty 50 | 12106.9 | -0.52 | 82350 | |
| Power Grid Corporation o | 200.05 | -0.27 | 31942726 | 6044830 | 62.18 | Nifty Bank | 30701.45 | -0.8 | 82350 | |
| HDFC BANK LTD. | 1240.85 | -0.28 | 9184155 | 4587266 | 61.23 | Nifty Auto | 8169.15 | -0.93 | 82350 | |
| NTPC Limited | 112.15 | -4.27 | 19388739 | 3125514 | 60.68 | Nifty Metal | 2756.75 | -1.54 | 82350 | |
Upcoming Economic Data
| Domestic International | |
| •INR: FX Reserves, USD on 24th January 2020 | •USA: Crude Oil Inventories on 23rd January 2020 |
News Updates
| •Gautam Adani on Wednesday said his group is aiming to become the world’s largest solar power company by 2025 and the biggest renewable energy firm by 2030. In a Linkedin post, the Adani Group chairman said the age of renewable energy has dawned upon the world faster than most could have anticipated.”Our vision is to become the world’s largest solar power company by 2025 and the largest renewable power company by 2030,” he wrote.
•GAIL India Ltd, plans to invest over Rs 45,000 crore over the next five years to expand the National Gas Pipeline Grid and city gas distribution network to help push for greater use of environment-friendly fuel, its chairman Ashutosh Karnatak said. The gas pipelines are planned to take the fuel to the east and northeast regions as well as to consumers in the south as part of the government push to raise the share of natural gas in India’s energy basket to 15 per cent by 2030 from the current 6.2 per cent, he said. •Piramal Realty, the real estate development arm of the Piramal Group, is planning to invest over Rs 3,500 crore to develop residential projects in Mumbai Metropolitan Region (MMR) over the next 3 years with significant focus on mid-market segment, said a top company official. •Can Fin Homes Ltd. expect disbursements to grow around 18-20 percent on a conservative basis over the next four to five quarters. Source: Economic Times, Moneycontrol ,Business Today, Business Standard, Bloomberg Quint |
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| ACGL | Interim Dividend;Quarterly Results | 23-Jan-20 | JK AGRI | General;Quarterly Results | 23-Jan-20 |
| ASAL | Quarterly Results | 23-Jan-20 | JMFINANCIL | Quarterly Results | 23-Jan-20 |
| BIOCON | Quarterly Results | 23-Jan-20 | KELENRG | Quarterly Results | 23-Jan-20 |
| CANBK | Quarterly Results | 23-Jan-20 | KGL | A.G.M.;Quarterly Results | 23-Jan-20 |
| CHDCHEM | Quarterly Results | 23-Jan-20 | ORIENTBANK | Quarterly Results | 23-Jan-20 |
| CHOLAFIN | Preferential Issue ;Quarterly Results | 23-Jan-20 | PIONDIST | Quarterly Results | 23-Jan-20 |
| COROENGG | Quarterly Results | 23-Jan-20 | PNBHOUSING | Quarterly Results | 23-Jan-20 |
| CTL | Quarterly Results | 23-Jan-20 | PVR | Quarterly Results | 23-Jan-20 |
| DBCORP | Interim Dividend;Quarterly Results | 23-Jan-20 | RADICO | Quarterly Results | 23-Jan-20 |
| GHCL | Buy Back of Shares;Quarterly Results | 23-Jan-20 | RBL | Interim Dividend;Quarterly Results | 23-Jan-20 |
| GMM | Interim Dividend;Quarterly Results | 23-Jan-20 | RNAM | Interim Dividend;Quarterly Results | 23-Jan-20 |
| HDFCLIFE | Quarterly Results | 23-Jan-20 | WESTLIFE | Quarterly Results | 23-Jan-20 |
| HTMEDIA | Quarterly Results | 23-Jan-20 | ZEEMEDIA | Quarterly Results | 23-Jan-20 |
| IBVENTURES | Quarterly Results | 23-Jan-20 | ZENSARTECH | Interim Dividend;Quarterly Results | 23-Jan-20 |
Corporate Action
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| ASTERDM | 23-Jan-20 | Buy Back of Shares | KENVI | 29-Jan-20 | Bonus issue 11:10 |
| TCS | 23-Jan-20 | Interim Dividend – Rs. – 5.00 | GRANULES | 30-Jan-20 | Interim Dividend – Rs. – 0.25 |
| HCLTECH | 24-Jan-20 | Interim Dividend – Rs. – 2.00 | SIEMENS | 03-Feb-20 | Dividend – Rs. – 7.00 |
| WIPRO | 24-Jan-20 | Interim Dividend – Rs. – 1.00 | VINATIORGA | 05-Feb-20 | Stock Split From Rs.2/- to Rs.1/- |
| INDIGRID | 27-Jan-20 | Income Distribution (InvIT) | ARROWTEX | 06-Feb-20 | Amalgamation |
| MITSU | 28-Jan-20 | Bonus issue 2:1 | FERMENTA | 06-Feb-20 | Bonus issue 2:1 |
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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