We are aware that the economy is going through a difficult phase. We can be sure that the government is also aware of this. The Union budget, which is a statement of the government purpose , is probably the best location to give direction to the economy. Whatever the budget says, we are confident that the message will be to boost economic growth. The stock market eventually respond favorably to any and all measure that lead to growth and prosperity.
This does not mean that we expect the budget to suddenly start a big move in the market on the upside. Frankly, we have no idea how the market will react to news which we know nothing about.
We do expect a new intermediate term move on the upside, which could eventually take the NIFTY towards 12600 or even higher.
With this context and assumption, we sugggest tradres should buy the NIFTY above 12200 with a stop below 12050. This is a positional trade. The best way to implement this trade, is touse options.
|BATAINDIA||1800.60||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 1785 and for the target of 1835.|
|MCDOWELL-N||582.35||SELL||The immediate trend of the stock is weak . The stock can be sold at CMP with a stop loss of 590 and for the target of 571.|
|STOCK OPTION||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|LT||1340 CE||BUY||14.55||CMP||7.50||30||OI Increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|NIFTYIT.Jan 30||16403||0.71||16.28||7500||POWERGRID.Jan 30||198.05||-0.53||79.63||45460000|
|NIITTECH.Jan 30||1900.25||2.68||8.57||959625||NMDC.Jan 30||128.75||-2.13||26.79||28002000|
|NTPC.Jan 30||113.8||1.43||8.12||74947200||CESC.Jan 30||742.4||-1.09||8.8||1464000|
|MUTHOOTFIN.Jan 30||763.5||0.34||8||4555500||COALINDIA.Jan 30||191.25||-0.16||3.7||23822100|
|IDEA.Jan 30||5.95||5.31||7.19||4.63E+08||UBL.Jan 30||1262.05||-0.78||1.91||1271900|
|Short Covering||Long unwinding|
|BANKNIFTY.Jan 30||31090.1||0.93||-13.72||1360280||RBLBANK.Jan 30||339.3||-0.32||-17.09||17019000|
|LT.Jan 30||1336.15||3.04||-11.19||17343750||UPL.Jan 30||543.9||-3.73||-13.23||12032100|
|BIOCON.Jan 30||293.95||0.55||-11.07||9344900||PVR.Jan 30||1899.2||-1||-10.87||1246000|
|ADANIPOWER.Jan 30||63.5||1.28||-9.92||67450000||MFSL.Jan 30||520||-0.14||-4.77||9248200|
|YESBANK.Jan 30||40.8||6.81||-9.68||2.07E+08||MINDTREE.Jan 30||903.4||-0.43||-4.13||1392000|
Top Delivery Percentage
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|HDFC Ltd.||2428.4||0.49||1812646||2580610||76.9||Nifty Realty||327.65||2.12||1330499927|
|HDFC BANK LTD.||1244.85||0.32||5754460||6562205||71.45||Nifty Bank||31004.05||0.99||14017584|
|ITC Ltd.||237.9||-0.06||6120434||4934815||64.47||Nifty Auto||8241.75||0.89||52743619|
|Petronet LNG Limited||277||2.27||3160181||418219||61.69||Nifty 50||12180.35||0.61||35664274|
|MARICO LIMITED||333.3||-0.4||1760568||549262||60.02||Nifty Metal||2769.25||0.45||156713815|
|Bajaj Auto Limited||3065.2||-0.36||256329||153323||56.93||Nifty FMCG||31226.9||0.24||422573|
|Tata Power Co. Ltd.||60.15||1.69||8476777||5036245||56.77||Nifty Media||1871.85||-1.95||230143484|
|Hindustan Unilever Ltd||2056.9||0.25||708017||544995||55.43||INDIA VIX||15.86||-3.06||267980594|
Upcoming Economic Data
|•INR: FX Reserves, USD on 24th January 2020||•USA: New Home Sales (Dec) on 27th January,2020|
|•ONGC has received bids for 50 out of the 64 small and marginal oil and gas fields it has offered in a first of its kind bid round for raising production by involving private companies. Duganta Oil and Gas Pvt Ltd made four bids, while Orissa Stevedores Ltd, Priserve Infrastructure Pvt Ltd and Udayan Oil Solutions Pvt Ltd made three bids each. ONGC wants partners who can raise output beyond a pre-agreed baseline and will share revenues from such incremental production with them.
•Shares of YES Bank surged over 7% on Thursday trade after State Bank of India Chairman Rajnish Kumar said that the private lender ‘will not be allowed to fail’. Kumar reportedly said that he’s certain “some solutions will emerge” to resolve YES Bank’s crisis, which has been on a prolonged quest to raise new capital.
•DLF backed by Singapore’s sovereign fund GIC, is planning to invest Rs 5,000 crore to develop a 6.8 million sq ft information technology park in Chennai, making the south India city its second largest market after Gurugram. The project, DLF Downtown Taramani spread over 27 acre is a joint venture with Tamilnadu Industrial Development Corporation.
•Bharti Airtel has written to the telecom department, asking it to await the Supreme Court’s directions on the modification plea before taking any action on the payment of statutory dues.
Source: Economic Times, Moneycontrol ,Business Today, Business Standard, Bloomberg Quint
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|ALBK||Preferential Issue of shares||24-Jan-20||IONEXCHANG||Quarterly Results||24-Jan-20|
|AROGRANITE||Audited Results||24-Jan-20||JSWSTEEL||Results;Dividend on Pref.||24-Jan-20|
|ATUL||Quarterly Results||24-Jan-20||KIRLFER||Quarterly Results;Interim Dividend||24-Jan-20|
|BANKBARODA||Quarterly Results||24-Jan-20||LEENEE||Quarterly Results||24-Jan-20|
|EMKAY||Quarterly Results||24-Jan-20||PARMSILK||Quarterly Results||24-Jan-20|
|ESCORTSFIN||Quarterly Results;General||24-Jan-20||PEOPLIN||Quarterly Results||24-Jan-20|
|FAZE3AUTO||Quarterly Results||24-Jan-20||PRESOFI||Quarterly Results;General||24-Jan-20|
|HAZOOR||Quarterly Results||24-Jan-20||PRESTIGE||Quarterly Results||24-Jan-20|
|HINDSECR||Voluntary Delisting of Shares||24-Jan-20||PRSMJOHNSN||General||24-Jan-20|
|HRMNYCP||Quarterly Results||24-Jan-20||SONATSOFTW||Quarterly Results||24-Jan-20|
|Company Name||Ex-Date||Purpose||Company Name||Ex-Date||Purpose|
|HCLTECH||24-Jan-20||Interim Dividend – Rs. – 2.00||MOTILALOFS||31-Jan-20||Interim Dividend – Rs. – 4.00|
|WIPRO||24-Jan-20||Interim Dividend – Rs. – 1.00||SHARDACROP||31-Jan-20||Interim Dividend – Rs. – 2.00|
|INDIGRID||27-Jan-20||Income Distribution (InvIT)||SIEMENS||03-Feb-20||Dividend – Rs. – 7.0000|
|MITSU||28-Jan-20||Bonus issue 2:1||VINATIORGA||05-Feb-20||Stock Split From Rs.2/- to Rs.1/-|
|KENVI||29-Jan-20||Bonus issue 11:10||ARROWTEX||06-Feb-20||Amalgamation|
|GRANULES||30-Jan-20||Interim Dividend – Rs. – 0.25||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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