The Nifty opened at 14999.05 without much of a gap. Prices initially consolidated for almost one hour and then broke down from its early morning lows. The Nifty fell more than 350 points from its intraday highs at 15010.10 to its intraday low at 14635.05 and finally closed at 14675.70 with a loss of 306.05 points. All the sectoral indices have closed lower except Metal led by Media,, IT and Auto. Correction continued in the Nifty for the fifth consecutive trading days. The index has recorded its lifetime highs at 15431.75. Prices have fallen almost 800 points from that high in the last five trading days. Last week when the Nifty broke and closed below 15050 support then we were waiting for prices to find support. It was a free fall. Intraday rallied did not sustain long and bear used it to take or add short positions. The decline was very intense as the index closed almost at the day low. A strong support zone is visible around 14400-14600 levels. As the Nifty is trading very near 14600 we should wait again for prices to stop moving down and hold this support zone. Please note, we are considering the current decline as a correction to an on going uptrend. Corrections are moves against the main trend. Since the trend following makes money. When the trader gets the sense that a correction is starting, the trading should be stopped as one should not go against the trend. Avoid short selling until some pattern develops of lower lows lower highs.
Bank Nifty opened at 35874.30 with a gap down of 54 points. The index first rallied, filled the down gap completely and recorded its intraday high at 36128.90. Prices have then immediately fallen down from its intraday high. The index has seen a sharp intraday decline of more than 1000 points to record its intraday low at 35097.55. A minor recovery was seen in the last hours of trading but fizzled out quickly. PSU and Private Banks both have contributed on the downside and closed lower by2.65% and 1.75% respectively. Within the index, HDFC Bank contributed highest while Axis the lowest. The index is down almost 7% in the last five days.
Trade AnyTime AnyWhere With Elite Empower Mobile App
|ADANIENT||808.80||BUY||The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 802 and for the target 822.|
|RBLBANK||236.5||SELL||The stock has given a breakdown from a narrow trading range. The stock can be sold at CMP with a stop at 246 and for the target 220|
Get All Your Mutual Fund Portfolio Returns on Your Mobile by Elite Kuber App
|STOCK OPTION||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|AMARARAJA||900 CE||BUY||12||CMP||7||20||OI increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|JUBLFOOD.21.02 Feb||3112.75||5.59||26.24||1668250||CHOLAFIN.21.02 Feb||512.9||-2.93||29||6482500|
|HDFCBANK.21.02 Feb||1541.35||0.13||15.6||25322000||TATAPOWER.21.02 Feb||89.55||-1.7||27.99||133029000|
|INDUS TOWERS LIMITED.21.||266.2||1.93||11.68||11541600||LALPATHLAB.21.02 Feb||2395.6||-1.25||27.32||130500|
|TATACHEM.21.02 Feb||638.1||2.84||9.64||8144000||INDUSINDBK.21.02 Feb||1019.95||-4.47||21.04||17968500|
|MOTHERSUMI.21.02 Feb||214.55||0.14||6.95||29071000||MUTHOOTFIN.21.02 Feb||1285.15||-0.83||20.8||4290750|
|Short Covering||Long Unwinding|
|Stocks||Price||Price%||OI%||OI||Stocks||Price||Price %||OI %||OI|
|AARTIIND.21.02 Feb||1220.05||2.63||-8.65||381650||HDFCAMC.21.02 Feb||2847.55||-2.85||-18.59||369600|
|TATACONSUM.21.02 Feb||618||0.04||-4.48||11732850||BRITANNIA.21.02 Feb||3335.35||-0.08||-11.96||2223400|
|TORNTPOWER.21.02 Feb||378.95||3.37||-3.6||2895000||BIOCON.21.02 Feb||392.95||-2.32||-11.37||12215300|
|NATIONALUM.21.02 Feb||52.15||0.58||-3.15||43418000||POWERGRID.21.02 Feb||224.9||-3.35||-9.64||14208000|
|TATASTEEL.21.02 Feb||680.2||1.21||-3.09||32286400||IDFCFIRSTB.21.02 Feb||61.15||-2.24||-7.24||91580000|
Top Delivery Percentage
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|Icici Lombard General In||1466.15||-1.85||787448||512192||72.6||Nifty Metal||3609.1||1.6||97833|
|Aarti Industries Ltd.||1222.35||2.9||442412||185886||59.89||Nifty Fmcg||32891.7||-1.34||97833|
|Infosys Limited||1265.2||-2.02||7371303||2864493||53.15||Nifty Bank||35257.2||-1.63||97833|
|Britannia Ind Ltd.||3341.2||0.3||666371||394072||51.47||Nifty Energy||18336.85||-1.84||97833|
|Tata Consultancy Serv Lt||2958.45||-3.69||5366696||1878814||50.44||Nifty 50||14675.7||-2.04||97833|
|Indus Towers Limited||266.35||2.15||10993150||2867699||49.01||Nifty Auto||10300||-2.28||97833|
|Itc Ltd.||207.05||-4.12||51546288||13596630||48.34||Nifty Pharma||12032.3||-2.55||97833|
|Vodafone Idea Limited||10.75||-1.38||244411595||150300726||47.54||Nifty it||24766.45||-2.89||97833|
|Power Grid Corporation o||224.95||-3.12||14512980||9095974||44.5||Nifty Media||1620.25||-3.42||97833|
Get Stock Market Recommendation By Our Research Analysts
Upcoming Economic Data
|INR: Infrastructure Output YoY (Jan) on 26th February, 2021
INR: GDP Quarterly (YoY) (Q3) on 26th February, 2021
|•USD : CB Consumer Confidence (Feb) on 23rd February, 2021
•USD : New Home Sales (Jan) on 24th February, 2021
|•The Supreme Court has agreed to hear Amazon.com Inc’s petition against a Delhi High Court order vacating the status quo on Future Retail Ltd.’s close to Rs 27,000-crore deal with Reliance Retail Ventures Ltd. A two-judge bench comprising Justice RF Nariman and BR Gavai issued notice on the plea.
•The country’s largest coal miner, state-owned Coal India Limited (CIL), has joined hands with Centre for Railway Information Systems (CRIS), an arm of Ministry of Railways, for frieght monitoring and data sharing. CIL will get access to the Freight Operations Information System (FOIS) of Indian Railways, to help the coal miner monitor movement of coal rakes and coal despatch activity. CIL signed a Memorandum of Understanding with CRIS for the same.
•Brent oil resumed gains, with Goldman Sachs Group Inc. predicting prices will advance into the $70s in the coming months. Futures in London rose back above $63 a barrel after the gradual resumption of some U.S. output following frigid weather put prices under pressure on Friday.
•Engineering and construction major Larsen & Toubro (L&T) on Monday said its power transmission and distribution business has bagged large domestic and overseas contracts across its spectrum of offerings. Though the company did not specify the exact value of the contracts, as per its specification a large contract ranges between Rs 2,500 crore and Rs 5,000 crore.
Source: Economic Times, Moneycontrol ,Business Today, Livemint, Business Standard, Bloomberg Quint
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|SANOFI||Audited Results;Final Dividend||23-Feb-21||HUHTAMAKI||Audited Results;Final Dividend||24-Feb-21|
|UNIPLY||Quarterly Results||23-Feb-21||KSB||Dividend;Quarterly Results||25-Feb-21|
|VENUSREM||Issue Of Warrants;General||23-Feb-21||POWERINDIA||General||25-Feb-21|
|AANANDALAK||Quarterly Results||24-Feb-21||RAIN||Audited Results||25-Feb-21|
|Company Name||Ex-Date||Purpose||Company Name||Ex-Date||Purpose|
|ARVINDFASN||23-Feb-21||Right Issue of Equity Shares||ZUARIGLOB||23-Feb-21||Interim Dividend – Rs. – 1.00|
|COCHINSHIP||23-Feb-21||Interim Dividend – Rs. – 4.00||ISGEC||24-Feb-21||Interim Dividend – Rs. – 2.00|
|IRCON||23-Feb-21||Interim Dividend – Rs. – 1.30||KARDA||24-Feb-21||Interim Dividend – Rs. – 0.0500|
|NIITLTD||23-Feb-21||Buy Back of Shares||NILE||24-Feb-21||Interim Dividend – Rs. – 1.00|
|OIL||23-Feb-21||Interim Dividend – Rs. – 3.50||RACLGEAR||24-Feb-21||Interim Dividend – Rs. – 1.00|
|PRECWIRE||23-Feb-21||Interim Dividend – Rs. – 2.00||SANDHAR||24-Feb-21||Interim Dividend – Rs. – 1.2500|
|SJVN||23-Feb-21||Interim Dividend – Rs. – 1.80||TECHNOE||24-Feb-21||Interim Dividend – Rs. – 3.00|
|TOWERINFRA||23-Feb-21||Income Distribution (InvIT)||AMARAJABAT||25-Feb-21||Interim Dividend – Rs. – 5.00|
|UNIDT||23-Feb-21||Interim Dividend – Rs. – 0.90||CAREERP||25-Feb-21||Interim Dividend – Rs. – 1.00|
Disclosure in pursuance of Section 19 of SEBI (RA) Regulation 2014
Elite Wealth Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only information in making their investment decision and must exercise their own judgment before making any investment decision.
For analyst certification and other important disclosures, see the Disclosure Appendix, or go to www.elitewealth.in. Analysts employed by Elite Wealth Limited are registered/qualified as research analysts with SEBI in India.( SEBI Registration No.: INH100002300)
Analyst Certification (For Reports)
Israil Khan, Elite Wealth Limited, email@example.com
The analyst(s) certify that all of the views expressed in this report accurately reflect my/our personal views about the subject company or companies and its or their securities. I/We also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report. Unless otherwise stated, the individuals listed on the cover page of this report are analysts in Elite Wealth Limited.
As to each individual report referenced herein, the primary research analyst(s) named within the report individually certify, with respect to each security or issuer that the analyst covered in the report, that:
(1) all of the views expressed in the report accurately reflect his or her personal views about any and all of the subject securities or issuers; and
(2) no part of any of the research analyst’s compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed in the report.
For individual analyst certifications, please refer to the disclosure section at the end of the attached individual notes.
This note may include excerpts from previously published research. For access to the full reports, including analyst certification and important disclosures, investment thesis, valuation methodology, and risks to rating and price targets, please visit www.elitewealth.in.Company-Specific Disclosures Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting https://www.elitewealth.in , or e-mailing firstname.lastname@example.org with your request. Elite Wealth Limited may screen companies based on Strategy, Technical, and Quantitative Research. For important disclosures for these companies, please e-mail email@example.com.Options related research:
If the information contained herein regards options related research, such information is available only to persons who have received the proper option risk disclosure documents. For a copy of the risk disclosure documents, please contact your Broker’s Representative or visit the OCC’s website at https://www.elitewealth.in
All research reports made available to clients are simultaneously available on our client websites. Not all research content is redistributed, e-mailed or made available to third-party aggregators. For all research reports available on a particular stock, please contact your respective broker’s sales person. Ownership and material conflicts of interest Disclosure
Elite Wealth Limited policy prohibits its analysts, professionals reporting to analysts from owning securities of any company in the analyst’s area of coverage. Analyst compensation: Analysts are salary based permanent employees of Elite Wealth Limited. Analyst as officer or director: Elite Wealth Limited policy prohibits its analysts, persons reporting to analysts from serving as an officer, director, advisory board member or employee of any company in the analyst’s area of coverage. Country Specific Disclosures India – For private circulation only, not for sale.
Legal Entities Disclosures
Mr. Ravinder Parkash Seth is the Managing Director of Elite Wealth Ltd (EWL, henceforth), having its registered office at Casa Picasso, Golf Course Extension, Near Rajesh Pilot Chowk, Radha Swami, Sector-61, Gurgaon-122001 Haryana, is a SEBI registered Research Analyst and is regulated by Securities and Exchange Board of India. Telephone:011-43035555, Facsimile: 011-22795783 and Website: www.elitewealth.in
EWL Advisory discloses all material information about itself including its business activity, disciplinary history, the terms and conditions on which it offers research report, details of associates and such other information as is necessary to take an investment decision, including the following:
a) EWL Advisory or his associate or his relative has no financial interest in the subject company and the nature of such financial interest;
(b) EWL Advisory or its associates or relatives, have no actual/beneficial ownership of one per cent. or more in the securities of the subject company, at the end of the month immediately preceding the date of publication of the research report or date of the public appearance;
(c) EWL Advisory or its associate or his relative, has no other material conflict of interest at the time of publication of the research report or at the time of public appearance;
(a) EWL Advisory or its associates have not received any compensation from the subject company in the past twelve months;
(b) EWL Advisory or its associates have not managed or co-managed public offering of securities for the subject company in the past twelve months;
(c) EWL Advisory or its associates have not received any compensation for investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(d) EWL Advisory or its associates have not received any compensation for products or services other than investment banking
or merchant banking or brokerage services from the subject company in the past twelve months;
(e) EWL Advisory or its associates have not received any compensation or other benefits from the subject company or third party in connection with the research report.
3 In respect of Public Appearances
(a) EWL Advisory or its associates have not received any compensation from the subject company in the past twelve months;
(b) The subject company is not now or never a client during twelve months preceding the date of distribution of the research report and the types of services provided by EWL Advisory
Provided that research analyst or research entity shall not be required to make a disclosure as per sub-clauses (c), (d) and (e) of clause (ii) or sub-clauses (a) and (b) of clause (iii) to the extent such disclosure would reveal material non-public information regarding specific potential future investment banking or merchant banking or brokerage services transactions of the subject company.
(4) EWL Advisory or its proprietor has never served as an officer, director or employee of the subject company;
(5) EWL Advisory has never been engaged in market making activity for the subject company;
(6) EWL Advisory shall provide all other disclosures in research report and public appearance as specified by the Board under any other regulations.