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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