2019-12-24-outlook

NIFTY:

The NIFTY traded very volatile today and at the end closed without much of change at 12266.15. we have been repeatedly stating that NIFTY should be bought on any  intraday dip. Today prices have traded sideways then show sharp dip. A support emerge around 12210-12220 intraday in the last hour of trading. A sharp surge from this support took NIFTY up by almost 50 points.

The market breath was tilted in favour of sellers. About 969 stocks declined and 839 shares advanced on national stock exchange.

VIEW:

Buy on a dip towards 12200 with a stop just below 12170.

Buy on a breakout above 11300 with a stop just below 11270.

TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
     HDFC 2422.65 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  2400 and for the target of  2450.
     SUNTV 448.35 SELL The immediate trend of the stock is weak . The stock can be sell with a stop loss of  455 and for  the target of  437.50.

DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
BAJFINANCE 4100 CE BUY 60.80 CMP 35 110 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
WIPRO.Dec 26 254.5 0.93 41.7 29737600 JUBLFOOD.Dec 26 1579.65 -0.25 38.64 2599500
MOTHERSUMI.Dec 26 147.75 0.85 39.86 32722800 IBULHSGFIN.Dec 26 294.75 -1.45 30.2 14320800
HAVELLS.Dec 26 650 1.03 33.33 5909000 UPL.Dec 26 577.2 -0.32 25.38 12437100
MUTHOOTFIN.Dec 26 743.25 1.49 32.7 4992000 ICICIBANK.Dec 26 542.05 -0.7 24.49 89416250
ASIANPAINT.Dec 26 1812.8 0.49 26.73 9040800 COALINDIA.Dec 26 198.35 -1.27 24.2 11257400
                                                                        Short Covering                                                                            Long unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
TORNTPHARM.Dec 26 1869 1.58 -22.1 208000 ESCORTS.Dec 26 627 -0.01 -25.44 4012800
CENTURYTEX.Dec 26 492.5 0.5 -12.04 2151600 DISHTV.Dec 26 13.9 -1.07 -24.77 77546000
JINDALSTEL.Dec 26 157.7 0.1 -7.89 19526400 TATAELXSI.Dec 26 856 -0.57 -16.3 1016400
TATAGLOBAL.Dec 26 315.75 0.72 -6.76 8602200 MRF.Dec 26 63600 -0.51 -14.86 10770
TATACHEM.Dec 26 671.5 2.95 -3.4 2045700 L&TFH.Dec 26 115.1 -1.37 -13.09 15628500

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Godrej Cons Products Ltd 698.4 -1.2 850319 1811919 77.19 Nifty Media 1803.2 0.86 84510
Power Grid Corporation o 185.8 -0.16 9587858 4081945 74.88 Nifty Auto 8180.5 0.58 84510
TECH MAHINDRA LIMITED 775.95 -0.94 1887292 1449167 69.25 Nifty IT 15865.5 0.13 84513
Pidilite Industries Ltd 1377.1 -0.03 244310 384239 68.84 Nifty Pharma 8051.5 0.03 84513
HDFC BANK LTD. 1302.4 0.44 5097891 5167224 68.78 Nifty Metal 2706.35 -0.04 84510
HDFC Ltd. 2422.65 0.77 1976677 3442746 68.13 Nifty 50 12262.75 -0.07 84513
Colgate Palmolive (India 1475.65 0.04 259371 613947 67.92 Nifty Bank 32339.45 -0.14 84513
NESTLEIND 14532.5 -2.19 125031 284637 67.28 Nifty FMCG 30217.95 -0.46 84513
ITC Ltd. 238.9 -0.93 19082124 9307666 66.68 Nifty Energy 15971.6 -0.68 84513
Ambuja Cements Ltd 197.75 1.7 2275861 3388164 65.75 INDIA VIX 11.96 -2.94 84513

Upcoming Economic Data

   Domestic                                                                                                                                                  International
•INR:  FX  Reserves, USD on  27th December 2019 •USA: API  Weekly Crude Oil Stock  on 25th December 2019

•USA:  Initial Jobless Claims on 26th December 2019

News Updates

•Anil Ambani-led Reliance Infrastructure on Monday said it has won Rs 1,250 crore arbitration award against government-owned Damodar Valley Corporation (DVC), which saw stock rising nearly 5 per cent on bourses. The fund proceeds will be used to pay lenders and reduce the debt, company said in the exchange filing.

•Federal Bank has tied up with online real estate platform Magicbricks for listing and e-auctioning of immovable properties repossessed by it in recovery proceedings. The move is aimed at speedy recovery of the bank’s impaired assets, while helping customers get the best rate in the market for their properties.

•Yes Bank share price declined 5 percent intraday on December 23 after reports suggested that European entities are showing interest in the beleaguered bank. According to report, some entities which are showing interest in the bank have large exposure to Russia, while some investors own banks having exposure in Europe.

•Tata Power on Monday said it has bagged a 25-year licence for distribution and retail supply of electricity in Odisha’s five circles, together constituting Central Electricity Supply Utility of Odisha (CESU) for about Rs 175 crore.Company chief executive officer and managing director Praveer Sinha said a special purpose vehicle will be formed in which the company will own 51% and the balance 49% will be owned by the Odisha government. The deal values CESU at Rs 350 crore.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
DECCAN General 24-Dec-19 EARUM General 26-Dec-19
FERMENTA Bonus issue;ESOP 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
KSERASERA General 24-Dec-19 VINTRON General 26-Dec-19
LANCER General 24-Dec-19 AMFL General 27-Dec-19
MIDINFRA General 24-Dec-19 BHARATAGRI General 27-Dec-19
SBC Quarterly Results 24-Dec-19 MANPASAND Quarterly Results 27-Dec-19
STAMPEDE General 24-Dec-19 RITES Interim Dividend 27-Dec-19
ULTRACAB General 24-Dec-19 ZEXDONTR General 27-Dec-19
ARISE General 25-Dec-19 AUTOPAL General 28-Dec-19
KGL Quarterly Results 25-Dec-19 EUROTEXIND General 28-Dec-19
DECCAN General 24-Dec-19 EARUM General 26-Dec-19

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
KESORAMIND 24-Dec-19 Spin Off BALMLAWRIE 26-Dec-19 Bonus issue 1:2
ABANSENT 26-Dec-19 Interim Dividend – Rs. – 0.10 INGERRAND 30-Dec-19 Special Dividend – Rs. – 25.00
AXITA 26-Dec-19 Bonus issue 1:1 PEL 30-Dec-19 Right Issue of Equity Shares

 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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