outlook-23-01-2020

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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