outlook-2020-03-24

 

NIFTY:

The NIFTY continued its decline following a stunning 12.98% fall which would be a record of some kind. The NIFTY did the unthinkable – fell below 8000, a level which some of us thought we will never see again. Markets being what they are, continue to surprise us. What do you do when the markets are crashing so quickly?

Well the answer is: nothing.

If you have blue chips in your portfolio, you have to understand that markets will go through such corrections and crashes, but eventually, your blue chip portfolio will outperform. If, for some  unfortunate reason, you have poor quality stocks in your ownership, it is too late to do anything. But this should be a lesson. Never keep poor quality stocks in anticipation of short term gains.

This too shall pass.

This is one of our favourite saying. We are confident that this bear market will also come to an end. We just don’t know when.

TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
     GMRINFRA 16.05 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  15 and for the target of  17.50.
      KOTAKBANK 1119 SELL The immediate trend of the stock is weak . The stock can be sold  at CMP with a stop loss of  1178 and for  the target of  1000.

 

DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
SBIN 180 PE BUY 12.05 CMP 7.50 20 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI   Stocks Price Price% OI % OI
                                                                        Short Covering                                                                              Long unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
IBULHSGFIN.Mar 26 96.2 5.48 -31.79 10560000 ESCORTS.Mar 26 546.4 -19.25 -62.75 1080200
ADANIPORTS.Mar 26 210.5 -18.08 -57.29 12867500
IDFCFIRSTB.Mar 26 18.15 -11.68 -44.85 72972000
NIFTYIT.Mar 26 11164 -9.75 -44.44 1250
IGL.Mar 26 303.15 -12.28 -43.67 2873750

 

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
CUMMINS INDIA LIMITED 395.9 -6.22 1744984 1375914 80.65   INDIA VIX 71.98 7.27 48926210
Power Grid Corporation o 153 -2.7 22311917 55806012 75.45 Nifty Pharma 6432.3 -7.47 53049039
Page Industries Limited 16714.55 -7.45 43060 50098 62.68 Nifty IT 11179.6 -9.58 2513953
HCL Technologies Ltd. 417.15 -6.24 9525670 7002639 58.77 Nifty Energy 9850.5 -9.71 3158401
BANDHAN BANK LIMITED 173.65 -25.02 11419604 11047357 57.74 Nifty Media 1015.4 -10.06 3.35E+08
ITC Ltd. 154.3 -12.08 51354135 34650958 55.89   Nifty FMCG 23184.05 -10.6 1046532
Ambuja Cements Ltd 145.85 -9.07 4517269 7751880 54.78   Nifty Metal 1496.45 -11.6 2.27E+08
Info Edge (India) Limite 1691.25 -13.34 540755 212347 53.68   Nifty 50 7610.25 -12.98 44425328
UPL LIMITED 254.6 -15.18 3029255 3993495 53.49   Nifty Auto 4626.5 -13.85 72575927
Hindustan Unilever Ltd 1869.7 -8.87 3574682 2236926 52.61   Nifty Bank 16917.65 -16.73 19588955

 

Upcoming Economic Data

   Domestic                                                                                                                                                  International
•INR:  Bank Loan Growth on 27th March ,2020

•INR:  FX Reserves, USD  on 27th March, 2020

•USA: New Home Sales (Feb) on 24th  March,2020

•USA: Crude Oil Inventories  on 25th  March,2020

 

News Updates

•Amid the spread of novel coronavirus infections showing no sign of abating, the National Task Force for Covid-19, set up by ICMR, today recommended the use of hydroxychloroquine for treatment of high-risk patients. This procedure has been okayed by Drug Controller General of India (DCGI) for “restricted use in emergency situations”.

•The Indian government has asked all state-owned lenders to extend emergency credit lines to corporate borrowers, three government and banking sources said, as it rushes to tackle the fallout from the coronavirus outbreak that has grounded business across the globe. Banks have been asked to make available an additional 10% in funds over and above sanctioned working capital loans, but not exceeding 2 billion rupees ($26.33 million) per loan account as part of the emergency measures.

•Government has reportedly increased the cap on special additional excise duty on petrol and diesel. With this, excise duty on petrol has been raised by Rs 18 per litre, and on diesel by Rs 12 per litre. Earlier this month, the Centre increased the excise duty on petrol and diesel by Rs 3 per litre each. This excise duty hike had reportedly helped the government collect over Rs 2,000 crore.

•The central government has decided to allow India Inc to use their mandatory corporate social responsibility (CSR) spending on measures to fight COVID-19.

Source: Economic Times,  Moneycontrol  ,Business Today, Business Standard, Bloomberg Quint

 

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
AMBITION General 24-Mar-20 VISHALBL General 24-Mar-20
JAYIND General 24-Mar-20 AXONVL General 25-Mar-20
KAVITIND General 24-Mar-20 BANASFN General 25-Mar-20
LANDMARC General 24-Mar-20 BRAHMINFRA General 25-Mar-20
MISQUITA General 24-Mar-20 EUROASIA General 25-Mar-20
SOFTRAKV General 24-Mar-20 GULPOLY General 25-Mar-20
STRTECH Buy Back of Shares 24-Mar-20 KACHCHH General 25-Mar-20
UNJHAFOR General 24-Mar-20 KRL General 25-Mar-20

 

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
AIMCOPEST 24-Mar-20 Interim Dividend – Rs. – 1.50 PPAP 24-Mar-20 Interim Dividend – Rs. – 2.00
BAJAJST 24-Mar-20 Stock  Split From Rs.10/- to Rs.5/- RPGLIFE 24-Mar-20 Interim Dividend – Rs. – 4.00
DIXON 24-Mar-20 Interim Dividend – Rs. – 4.00 ADANIGAS 26-Mar-20 Interim Dividend – Rs. – 0.25
GHCL 24-Mar-20 Interim Dividend – Rs. – 3.00 AGIIL 26-Mar-20 Interim Dividend – Rs. – 0.50
INDNIPPON 24-Mar-20 Interim Dividend – Rs. – 3.75 AMBER 26-Mar-20 Interim Dividend – Rs. – 1.60
LT 24-Mar-20 Interim Dividend – Rs. – 10.00 BCPL 26-Mar-20 Interim Dividend – Rs. – 0.40
LUMAXIND 24-Mar-20 Interim Dividend – Rs. – 17.50 CUB 26-Mar-20 Interim Dividend – Rs. – 0.50
NUCLEUS 24-Mar-20 Interim Dividend – Rs. – 9.00 EMAMILTD 26-Mar-20 Interim Dividend – Rs. – 2.00

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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