NIFTY:
The Nifty opened at 14477.80 with a big gap up of 106 points. The index first moved down more than 200 points within the first 45 minutes of trading and filled the gap completely. Prices then traded volatile and range bound till afternoon. Around 1:30 PM, prices saw another downfall of more than 150 points and finally closed at 14238.90 down by 133 points. The Pharma sector has outperformed and closed higher by 1.71% while the IT sectors have underperformed and closed lower by 1.77%. Banks have closed without much change. It was another trend day on the downside where the opening tick was near the intraday high and the closing tick near the intraday low. The market witnessed yet another day where bears were able to take the charge completely despite the positive opening. Index heavyweight Reliance closed lower by almost 6%. The Nifty continued to trade volatile for the third continuous day and moved down by more than 500 points from its lifetime high around 14750. The index come close to its support around 14200.A breakdown and close below this support may suggest a deeper correction. Traders can look to short the index below 14200. Incase of a gap down sell short below the first15 minutes low. Keep a stop of 75 points and target of 200 points.
BANK NIFTY:
Bank Nifty opened at 31507.15 with a gap up of 330 points. The index first moved down, filled the gap completely and recorded its intraday low at 31013.65. After that prices have seen a sharp rally and recorded its intraday high at 31697.55. The index spent rest of the trading volatile within these levels and finally closed at 31198 without much change. PSU Banks have led the decline and closed lower by 0.74% while Private Banks also closed lower by just 0.12%. Within the index in terms of points, HDFC Bank contributed highest while Kotak Bank the lowest.
A short term support is visible around 31000. Prices are trading near the support. A break of this support could lead to a deeper correction.
Trade AnyTime AnyWhere With Elite Empower Mobile App
TECHNICAL PICKS
| COMPANY | CMP | B/S | RATIONALE |
| SUNPHARMA | 586.4 | BUY | The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 573 and for the target 605. |
| AARTI DRUGS | 718 | BUY | The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 700 and for the target 745. |
Get All Your Mutual Fund Portfolio Returns on Your Mobile by Elite Kuber App
DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| TVSMOTOR | 540 CE | BUY | 11.5 | 9.2 | 7 | 14 | OI increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| BAJAJFINSV.21.01 Jan | 9185.85 | 1.35 | 27.33 | 679000 | TATAPOWER.21.01 Jan | 79.35 | -0.25 | 33.62 | 90463500 | |
| AXISBANK.21.01 Jan | 658.6 | 1.9 | 18.15 | 45686400 | EICHERMOT.21.01 Jan | 2895.15 | -2.54 | 28.32 | 2310350 | |
| UPL.21.01 Jan | 589.45 | 3.62 | 15.31 | 11076000 | DABUR.21.01 Jan | 534.1 | -0.05 | 25.41 | 14962500 | |
| BAJAJ-AUTO.21.01 Jan | 4160.2 | 1.81 | 12.15 | 1830000 | FEDERALBNK.21.01 Jan | 71.1 | -3.13 | 23.45 | 96640000 | |
| FINNIFTY.21.01 Jan | 15169.9 | 0.15 | 11.84 | 53640 | ADANIENT.21.01 Jan | 515.65 | -2.22 | 21.53 | 15984000 | |
| Short Covering | Long Unwinding | |||||||||
| Stocks | Price | Price% | OI% | OI | Stocks | Price | Price % | OI % | OI | |
| BANKBARODA.21.01 Jan | 73.95 | 0.75 | -18.33 | 37849500 | TORNTPOWER.21.01 Jan | 315 | -1.55 | -22.97 | 3189000 | |
| M&MFIN.21.01 Jan | 177.9 | 2.27 | -15.44 | 9684000 | GODREJPROP.21.01 Jan | 1326 | -2.08 | -17.2 | 1057550 | |
| CADILAHC.21.01 Jan | 469.9 | 1.78 | -14.3 | 7594400 | RECLTD.21.01 Jan | 137.65 | -1.75 | -16.73 | 9852000 | |
| SIEMENS.21.01 Jan | 1663.2 | 0.11 | -13.19 | 622600 | BHEL.21.01 Jan | 36.15 | -4.24 | -15.42 | 69573000 | |
| CANBK.21.01 Jan | 133.7 | 0.3 | -9.73 | 33868800 | ULTRACEMCO.21.01 Jan | 5369.3 | -3.56 | -15.41 | 1336000 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Lalpathlab | 2282.85 | -0.69 | 108971 | 145698 | 72.83 | Nifty Pharma | 12756.75 | 1.71 | 81561 | |
| Icici Lombard General In | 1438.25 | -0.05 | 612863 | 666988 | 70.46 | Nifty Metal | 3236.35 | 0.15 | 81561 | |
| Container Corp Of India | 421.25 | -1.73 | 2142180 | 1738785 | 64.52 | Nifty Bank | 31198.4 | 0.1 | 81561 | |
| Power Grid Corporation o | 190.2 | -2.06 | 5283901 | 6053966 | 64.37 | Nifty Media | 1680.05 | -0.6 | 81561 | |
| Aarti Industries Ltd. | 1145.3 | 0.18 | 192923 | 281446 | 62.85 | Nifty Fmcg | 34178.6 | -0.73 | 81561 | |
| Infosys Limited | 1325.1 | -1.17 | 6542611 | 5913234 | 61.3 | Nifty Auto | 10433.5 | -0.78 | 81561 | |
| Hdfc Ltd. | 2551.4 | -1.47 | 7761405 | 3009692 | 60.03 | Nifty Realty | 317.9 | -0.78 | 81561 | |
| Hindustan Unilever Ltd | 2399.6 | -0.4 | 2124424 | 1454715 | 57.09 | Nifty 50 | 14238.9 | -0.93 | 81561 | |
| Larsen & Toubro Limited | 1361.3 | -0.06 | 4847989 | 1744814 | 53.15 | Nifty it | 26023.3 | -1.76 | 81561 | |
| Icici Bank Ltd. | 538.05 | 0.8 | 23415249 | 12680501 | 51.72 | Nifty Energy | 16772.3 | -2.82 | 81561 | |
Get Stock Market Recommendation By Our Research Analysts
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: Federal Fiscal Deficit (Dec) on 29nd January, 2021
INR: Infrastructure Output (YoY) (Dec) on 29nd January, 2021 |
•USD : Core Durable Goods Orders (MoM) (Dec) on 27th January, 2021
•USD : Crude Oil Inventories on 27th January, 2021 |
NEWS UPDATES
| •Shares of Aurobindo Pharma Ltd. jumped to a record high after the drugmaker received approval for three fermentation-based products under India’s incentive programme to set up local manufacturing. The Hyderabad-based drugmaker has received approval for Penicillin G, 7-ACA and Erythromycin Thiocyanate, involving a committed investment of Rs 1,392 crore, Rs 813 crore and Rs 834 crore, respectively.
•Kotak Mahindra Bank Ltd.’s third-quarter profit rose as its core income grew. Kotak Mahindra Bank Ltd.’s profit rose 16% over a year earlier to Rs 1,853 crore in the three months ended December, according to its filing. Analysts polled by Bloomberg had expected a profit of Rs 1,701 crore. Net interest income, or core income, rose 16.8% year-on-year to Rs 4,007 crore against the estimated Rs 3,497 crore. The bank’s gross non-performing asset ratio stood at 2.26% as of December compared with 2.55% in the September quarter. •Process equipment maker GMM Pfaudler is weighing more acquisition and expansion opportunities even as it completes the purchase of its overseas parent, the Pfaudler Group. The acquisition of the parent will also give GMM Pfaudler entry into multiple new markets that it previously couldn’t enter due to non-compete pacts. •Lupin on Monday said it has received nod from the US health regulator to market its generic Sevelamer Carbonate tablets that are used to control phosphorus in people with chronic kidney disease on dialysis. Source: Economic Times, Moneycontrol ,Business Today, Livemint, Business Standard, Bloomberg Quint |
Open Your Demat Account to Invest in Upcoming IPO’s
BOARD MEETING
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| AXISBANK | Quarterly Results | 27-Jan-21 | JSTL | Quarterly Results | 27-Jan-21 |
| BANKBARODA | Quarterly Results | 27-Jan-21 | JYOTHYLAB | Quarterly Results | 27-Jan-21 |
| BHAGIL | Quarterly Results | 27-Jan-21 | MARICO | Quarterly Results | 27-Jan-21 |
| CANBK | Quarterly Results | 27-Jan-21 | NATIONALUM | Buy Back of Shares | 27-Jan-21 |
| COSMOFILMS | Interim Dividend;Quarterly Results | 27-Jan-21 | PNBHOUSING | General;Quarterly Results | 27-Jan-21 |
| EMAMILTD | Interim Dividend;Quarterly Results | 27-Jan-21 | POLYMED | General;Quarterly Results | 27-Jan-21 |
| GUJARATPOLY | Quarterly Results | 27-Jan-21 | PSPPROJECT | General;Quarterly Results | 27-Jan-21 |
| HGINFRA | Quarterly Results | 27-Jan-21 | SHREDIGCEM | Quarterly Results | 27-Jan-21 |
| HINDUNILVR | Quarterly Results | 27-Jan-21 | TATACOFFEE | Quarterly Results | 27-Jan-21 |
| ICICIPRULI | Quarterly Results | 27-Jan-21 | TITANBIO | Quarterly Results | 27-Jan-21 |
| INDIACEM | Quarterly Results | 27-Jan-21 | TITANSEC | Quarterly Results | 27-Jan-21 |
| JAYBARMARU | Quarterly Results | 27-Jan-21 | UNITDSPR | Quarterly Results | 27-Jan-21 |
| JKPAPER | Quarterly Results | 27-Jan-21 | WELSPUNIND | Quarterly Results | 27-Jan-21 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| DCMSHRIRAM | 27-Jan-21 | Interim Dividend – Rs. – 5.50 | JAIHINDPRO | 27-Jan-21 | Resolution Plan -Suspension |
| EMERALD | 27-Jan-21 | Right Issue of Equity Shares | SIEMENS | 27-Jan-21 | Final Dividend – Rs. – 7.00 |
| GAIL | 27-Jan-21 | Buy Back of Shares | GMM | 28-Jan-21 | Interim Dividend – Rs. – 1.00 |
| GAIL | 27-Jan-21 | Interim Dividend – Rs. – 2.50 | HAVELLS | 28-Jan-21 | Interim Dividend – Rs. – 3.00 |
| GARDENSILK | 27-Jan-21 | Resolution Plan -Suspension | IEX | 28-Jan-21 | Interim Dividend – Rs. – 2.50 |
| INDIGRID | 27-Jan-21 | Income Distribution (InvIT) | SHREERAMA | 28-Jan-21 | E.G.M. |
DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014
Elite Wealth Ltd. 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
For Daily Share Market Updates, Daily debt market review, Market Research Analysis reports, Weekly Techno-Funda Report, Fundamental Analysis Report, Monthly Recommended stock Picks, Equity Trading Tips, Upcoming IPO/NFO/Bonds/Ncd’s updates & other related information Subscribe our research plan