2020-02-27-Outlook

NIFTY:

The NIFTY has come down all the way to 11600 before closing a day better. The index is now reaching out and touching a strong support zone between 11600 and 11400.

Our proprietary cycle indicator has now reached a zone where prices should bottom out. There may be a little more pain left but we are very close to the lows. Positions traders should get ready to begin buying soon enough. We would like the markets to pause and rest for a few days and gives us a signal that a low maybe in place. Swing and intraday traders should look to buy at the first sign of support.

VIEW:

Buy on a dip towards 11630 with a stop just below 11600.

Sell on a rally towards 11750 with a stop just above 11785.

TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
     DIVISLAB 2142.10 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  2118 and for the target of  2190..
      BERGEPAINT 567 SELL The immediate trend of the stock is weak . The stock can be sold  at CMP with a stop loss of  573 and for  the target of  555.

DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
RBLBANK 300 CE BUY 15.55 CMP 8 32 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
HAVELLS.Feb 27 645.45 0.32 30 4212000 BOSCHLTD.Feb 27 13338 -3.49 46.54 118760
EQUITAS.Feb 27 114.4 0.22 25.78 18575900 ASIANPAINT.Feb 27 1821.15 -0.42 43.79 8136600
INFRATEL.Feb 27 217 0.14 21.77 9016000 UPL.Feb 27 562.8 -0.78 39.18 9740700
SBIN.Feb 27 328.5 0.43 14.59 63843000 HDFC.Feb 27 2279.9 -1.04 38.65 18073250
AMBUJACEM.Feb 27 213.05 0.69 12.82 9705000 GRASIM.Feb 27 700.65 -2.83 37.02 15332250
                                                                        Short Covering                                                                              Long unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
IGL.Feb 27 454.95 0.12 -39.32 3492500 NIFTYIT.Feb 27 16310 -1.34 -46.23 2850
RBLBANK.Feb 27 315.25 1.74 -30.38 4438500 RAMCOCEM.Feb 27 789.85 -0.16 -37.34 562400
YESBANK.Feb 27 37 5.26 -23.96 1.14E+08 PFC.Feb 27 127.3 -1.24 -34.03 13751600
JUBLFOOD.Feb 27 1846.3 0.14 -16.39 1178500 NIITTECH.Feb 27 1889.1 -0.1 -30.73 256125
GLENMARK.Feb 27 296.25 1.26 -13.59 4772600 JUSTDIAL.Feb 27 488.45 -0.91 -29.68 1489600

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Tata Chemicals Ltd. 743.95 -0.75 2579106 2248186 80.91 INDIA VIX 18.26 8.05 85290
HDFC BANK LTD. 1199.25 -0.09 6907393 5185085 74.68 Nifty Bank 30306.85 -0.41 85293
Power Grid Corporation o 185.85 -0.16 9626434 7010391 69.99 Nifty FMCG 29965.55 -0.69 85293
Lupin Limited 669.8 0.1 2122196 1981159 69.8 Nifty Media 1803.9 -0.73 85293
Reliance Industries Ltd 1392 -1.72 13423661 8329207 65.67 Nifty 50 11678.5 -1.01 85287
HDFC Ltd. 2281.45 -0.92 6163133 2162206 65.66 Nifty Pharma 7839.2 -1.25 85293
MARICO LIMITED 306.15 0.07 3773560 1614770 64.58 Nifty IT 16332.25 -1.39 85293
Larsen & Toubro Limited 1211.15 -2.49 5721483 1962169 62.63 Nifty Metal 2430 -1.63 85293
Infosys Limited 782.75 -1.96 8760569 4262139 60.92 Nifty Energy 14189.7 -1.84 85293
ITC Ltd. 198.6 -1.59 17869240 9294386 60.69 Nifty Auto 7207.95 -2.15 85293

Upcoming Economic Data

   Domestic                                                                                                                                                  International
•INR: GDP Quarterly (YoY) (Q3) on 28th February, 2020

•INR: Infrastructure Output (YoY) (Jan) on 28th February, 2020

•USA: GDP (QoQ) (Q4) on 27th February, 2020

•USA: Pending Home Sales (MoM) (Jan) on 27th  Februrary,2020

News Updates

• Petronet LNG, the country’s largest importer of liquefied natural gas (LNG) in India, is looking to buy the super-chilled fuel through a long term contract starting from 2024, according to a document reviewed by Reuters. Petronet is asking for suppliers to provide information related to the delivery and pricing of cargoes as well as flexibility that the suppliers can provide, including volumes and destination, the document stated.

•Global private equity investment firm Warburg Pincus is set to invest $150 million in Apollo. The Board of Directors of Apollo Tyres today approved an issuance of compulsorily convertible preference shares in the company worth Rs 10,800 million (approximately US$150 million) to an affiliate of Warburg Pincus, a leading global private equity firm focused on growth investing. The investment represents a primary capital infusion into the company and is subject  to shareholder and regulatory approvals.

•Cipla share price fell in early trade today after the pharma firm said it received a warning letter from USFDA after inspection of Goa manufacturing facility conducted in September last year. “The company remains committed to maintain the highest standards of compliance and will work closely with the agency to comprehensively address all the observations,” Cipla said                                                                                                       Source: Economic Times,  Moneycontrol  ,Business Today, Business Standard, Bloomberg Quint

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ADORFO Interim Dividend 27-Feb-20 KSB Dividend;Audited Results 27-Feb-20
ANMOL General 27-Feb-20 KSL Interim Dividend 27-Feb-20
CHEMCRUX Interim Dividend 27-Feb-20 LINCOPH Interim Dividend 27-Feb-20
ECS General 27-Feb-20 MAITHANALL Interim Dividend;General 27-Feb-20
ELANGO General 27-Feb-20 MANAPPURAM Interim Dividend 27-Feb-20
ENKEIWHEL Audited Results;General 27-Feb-20 MHEL General 27-Feb-20
FINOLEXIND Interim Dividend 27-Feb-20 NLCINDIA Interim Dividend 27-Feb-20
IOB Preferential Issue of shares 27-Feb-20 RELAXO Interim Dividend 27-Feb-20
JKPAPER Interim Dividend 27-Feb-20 STAN Final Dividend;Audited Results 27-Feb-20
JUBILANT Interim Dividend 27-Feb-20 SUPRAP General 27-Feb-20
JUBLFOOD Interim Dividend 27-Feb-20 SUZLON General 27-Feb-20
KRBL Interim Dividend 27-Feb-20 TECHNOFAB Quarterly Results 27-Feb-20

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ADORWELD 27-Feb-20 Interim Dividend – Rs. – 6.50 KIRLOSBROS 27-Feb-20 Interim Dividend – Rs. – 2.00
BANSWRAS 27-Feb-20 Interim Dividend – Rs. – 1.50 POLYMED 27-Feb-20 Interim Dividend – Rs. – 2.00
CHEVIOT 27-Feb-20 Interim Dividend – Rs. – 48.00 RUBYMILLS 27-Feb-20 Interim Dividend – Rs. – 1.75
FLUIDOM 27-Feb-20 Interim Dividend – Rs. – 2.25 SANDESH 27-Feb-20 Interim Dividend – Rs. – 5.00
FSL 27-Feb-20 Interim Dividend – Rs. – 2.50 SHREEPUSHK 27-Feb-20 Interim Dividend – Rs. – 0.50
GRPLTD 27-Feb-20 Interim Dividend – Rs. – 5.50 SWELECTES 27-Feb-20 Interim Dividend – Rs. – 1.25
GULPOLY 27-Feb-20 Interim Dividend – Rs. – 0.70 TRIDENT 27-Feb-20 Interim Dividend – Rs. – 0.18
KAIRA 27-Feb-20 Interim Dividend – Rs. – 9.00 UNIDT 27-Feb-20 Interim Dividend – Rs. – 0.60

 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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