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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