2019-12-23-Morning-Outlook

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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