NIFTY:
The NIFTY recorded its highest ever close on Friday, December 20. The close was the highest ever for the week, as well as for any given day. New highs are bullish. Index is also broken decisively from a trading range between 11900-12150. This gives a target of approximately 12400. The target are numbers, as well as forecasts for the future. But as we all know, we do not have the ability to forecast the future. We can only anticipate the possibilities.
As of now, markets are rewarding buyers, position traders should maintain long position in the market and buy on every dip. Short – term traders should look for intraday consolidation and take long position accordingly. Stops for all of these long position are 12000.
VIEW:
Buy on a breakout above 12300 with a stop just below 12270.
Buy on a dip towards 12250 with a stop just below 12220.
TECHNICAL PICKS
| COMPANY | CMP | B/S | RATIONALE |
| BAJFINANCE | 4135.60 | 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 4100 and for the target of 4175-4200. |
| KOTAKBANK | 1692.70 | SELL | The immediate trend of the stock is weak . The stock can be sell with a stop loss of 1708 and for the target of 1670. |
DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| SBIN | 335 CE | BUY | 7.15 | CMP | 4 | 11 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| NESTLEIND.Dec 26 | 14600 | 2.03 | 24.65 | 502400 | AMARAJABAT.Dec 26 | 724 | -1.27 | 25.71 | 1697500 | |
| ICICIBANK.Dec 26 | 545.5 | 0.92 | 22.42 | 109132375 | RAMCOCEM.Dec 26 | 759.2 | -0.9 | 20.68 | 1050400 | |
| IGL.Dec 26 | 432.65 | 0.76 | 22.18 | 9438000 | VEDL.Dec 26 | 145.8 | -2.7 | 19.53 | 70089000 | |
| MINDTREE.Dec 26 | 783 | 3.22 | 21.88 | 1470600 | BHARATFORG.Dec 26 | 493.2 | -0.41 | 19.03 | 9097200 | |
| TATASTEEL.Dec 26 | 462 | 3.14 | 21.78 | 24630054 | EXIDEIND.Dec 26 | 178.2 | -1.95 | 18.13 | 11558400 | |
| Short Covering | Long unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| UJJIVAN.Dec 26 | 339.5 | 1.66 | -8.45 | 7995200 | SRF.Dec 26 | 3323.1 | -0.3 | -3.21 | 708250 | |
| CENTURYTEX.Dec 26 | 490.05 | 0.93 | -7.67 | 2789400 | BIOCON.Dec 26 | 289.4 | -1.85 | -0.53 | 10179000 | |
| NATIONALUM.Dec 26 | 42.3 | 0.48 | -4.26 | 40650000 | ||||||
| TATACHEM.Dec 26 | 653.75 | 0.4 | -3.53 | 2210400 | ||||||
| TVSMOTOR.Dec 26 | 460.75 | 0.68 | -2.38 | 4508900 | ||||||
Top Delivery Percentage
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| HDFC Ltd. | 2404.1 | -0.32 | 5053198 | 2758224 | 67 | INDIA VIX | 12.32 | 1.69 | 81618 | |
| Power Grid Corporation o | 186.1 | -0.16 | 5451180 | 2152681 | 66.56 | Nifty Media | 1787.8 | 1.21 | 81621 | |
| Petronet LNG Limited | 275.85 | -0.34 | 3099754 | 610900 | 64.58 | Nifty Metal | 2707.5 | 0.61 | 81621 | |
| Kotak Mahindra Bank Limi | 1692.7 | -2.13 | 3058679 | 1698586 | 62.88 | Nifty Bank | 32384.95 | 0.45 | 81618 | |
| TECH MAHINDRA LIMITED | 783.35 | 0.08 | 2092547 | 1301355 | 61.97 | Nifty IT | 15844.55 | 0.2 | 81618 | |
| Exide Industries Ltd | 177.95 | -1.71 | 3230286 | 1403338 | 60.1 | Nifty Midcap 50 | 4641.3 | 0.11 | 81618 | |
| Colgate Palmolive (India | 1475.1 | -0.6 | 903982 | 211006 | 59.81 | Nifty 50 | 12271.8 | 0.1 | 81618 | |
| HCL Technologies Ltd. | 569.9 | 0.07 | 3135806 | 2045668 | 59.03 | Nifty FMCG | 30356.35 | -0.1 | 81618 | |
| TITAN COMPANY LIMITED | 1201.9 | 3.7 | 6754831 | 752064 | 56.18 | Nifty Pharma | 8049.45 | -0.29 | 81618 | |
| ICICI PRUDENTIAL LIFE IN | 498.45 | -0.03 | 2881163 | 1344766 | 56.17 | Nifty Auto | 8133.55 | -0.39 | 81621 | |
Upcoming Economic Data
| Domestic International | |
| •INR: FX Reserves, USD on 27th December 2019 | •USA: Core Durables Goods Orders (MoM) (Nov) on 23rd December 2019
•USA: New Home Sales (Nov) on 23rd December 2019 |
News Updates
| •The Delhi high court on Friday asked Reliance Industries Ltd and British Gas to disclose their assets after the Centre sought to restrain them from disposing assets — including RIL’s plan to sell a 20% stake to oil giant Saudi Aramco.In an application filed in September, the government had sought curbs citing the failure of the two companies to honour their payment under a $4.5-billion international arbitral award in the Panna-Mukta and Tapti (PMT) production-sharing contracts.
•Tata Chemicals, the third largest producer of soda ash in the world, acquired the 25 per cent remaining stake in its US subsidiary, Tata Chemicals North America (TCNA). The company said its wholly-owned subsidiary Valley Holdings has acquired the remaining 25 per cent partnership interest in Tata Chemicals (Soda Ash) Partners Holdings (which owns TCNA) from the Andover Group, a subsidiary of Owens-Illinois, for $195 million (nearly Rs 1,386.7 crore). •Mahindra and Mahindra on Friday unveiled a major management reshuffle under which Anish Shah will be promoted to the role of managing director and chief executive-designate to succeed Pawan Goenka. M&M in an exchange filing said that Anand Mahindra, the group chairman, would be stepping down from the post on 1 April, 2020. Source Business Today ,Economic Times |
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| AICHAMP | Preferential Issue of shares | 23-Dec-19 | KSERASERA | General | 24-Dec-19 |
| HINDSECR | General | 23-Dec-19 | LANCER | General | 24-Dec-19 |
| NIITTECH | Buy Back of Shares | 23-Dec-19 | MIDINFRA | General | 24-Dec-19 |
| PGEL | General;Preferential Issue of shares | 23-Dec-19 | SBC | Quarterly Results | 24-Dec-19 |
| SOLIDCO | General | 23-Dec-19 | STAMPEDE | General | 24-Dec-19 |
| SUNEDISON | Employees Stock Option Plan | 23-Dec-19 | ULTRACAB | General | 24-Dec-19 |
| SUNFLAG | General | 23-Dec-19 | ARISE | General | 25-Dec-19 |
| VISIONCINE | General | 23-Dec-19 | KGL | Quarterly Results | 25-Dec-19 |
| DECCAN | General | 24-Dec-19 | EARUM | General | 26-Dec-19 |
| FERMENTA | ESOP;Bonus issue | 24-Dec-19 | GENESIS | General | 26-Dec-19 |
| GPIL | Scheme of Arrangement | 24-Dec-19 | KHAITANLTD | Quarterly Results | 26-Dec-19 |
| HARME | General | 24-Dec-19 | SAIMOH | General | 26-Dec-19 |
| AICHAMP | Preferential Issue of shares | 23-Dec-19 | KSERASERA | General | 24-Dec-19 |
Corporate Action
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| CHOLAFIN | 23-Dec-19 | Interim Dividend – Rs. – 1.00 | BALMLAWRIE | 26-Dec-19 | Bonus issue 1:2 |
| KESORAMIND | 24-Dec-19 | Spin Off | INGERRAND | 30-Dec-19 | Special Dividend – Rs. – 25.00 |
| ABANSENT | 26-Dec-19 | Interim Dividend – Rs. – 0.10 | PEL | 30-Dec-19 | Right Issue of Equity Shares |
| AXITA | 26-Dec-19 | Bonus issue 1:1 |
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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