NIFTY:
The Nifty opened at 13672.15 with a gap up of 71 points. The index rallied another 60 points within the first hour of trading and then saw a sharp decline. Around 11:40, prices saw a second round of buying and rallied almost 150 points to record its intraday high at 13771.75.A minor dip came in the last 30 minutes of trading and the index finally closed at 13749.25 with a gain of 148.15 points. Banks, Financials and Pharma have led the bulls while IT, Media and Realty closed with loss.
We had taken a long position in the index around 13500 and suggested to keep a stop around 13490 and a target of 13700. The index opened with a gap up and easily crossed the 13700 target within the first 15 minutes. So our trade was closed with a decent gain.
It was another trend day in the Nifty. The index has recovered from the losses incurred on Monday, December 21 2020. Prices have taken 3 days to fill the loss came in a single day. The index is closing higher for the last three trading days and now reached near its lifetime high which may act as a resistance.
BANK NIFTY:
Bank Nifty opened at 30071.65 with a gap up of 138 points. The index first moved up and then traded sideways and narrow. Around 1:00 PM the index again moved up but saw a minor dip in the last hour of trading and closed at 30402 with a gain of 440 points. Private Banks have performed better and closed higher by 1.59% while PSU Banks also closed higher by 0.61%. Within the index, in terms of points, Axis Bank contributed highest while Indusind Bank the lowest.
We have been long in the index from 29800. Prices have been rallied and closing higher from the last three trading days and now trading near its resistance around 30900.
It was a trend day on the upside; we might see the next one or two days as choppy and volatile.
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TECHNICAL PICKS
| COMPANY | CMP | B/S | RATIONALE |
| BIOCON | 481.95 | BUY | The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 474 and for the target 493. |
| CIPLA | 833.20 | BUY | The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 820 and for the target 850. |
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DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| BHARTIARTL | 510 CE | BUY | 12.30 | CMP | 9 | 16 | OI increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| CADILAHC.20.12 Dec | 490.95 | 3.02 | 23.49 | 8071800 | POWERGRID.20.12 Dec | 190.05 | -0.08 | 10.55 | 21544000 | |
| SAIL.20.12 Dec | 60.4 | 1.51 | 21.26 | 69787000 | DLF.20.12 Dec | 226.5 | -1.26 | 8.2 | 26561700 | |
| ADANIENT.20.12 Dec | 471.3 | 1.28 | 15.73 | 17248000 | BAJAJFINSV.20.12 Dec | 9013.25 | -0.41 | 6.44 | 859375 | |
| ACC.20.12 Dec | 1615 | 2.12 | 12.38 | 3154500 | INDUSINDBK.20.12 Dec | 852.45 | -0.81 | 6.33 | 15587200 | |
| TATAMOTORS.20.12 Dec | 175.9 | 3.75 | 10.51 | 64284600 | RBLBANK.20.12 Dec | 220.1 | -0.16 | 6.06 | 16697200 | |
| Short Covering | Long Unwinding | |||||||||
| Stocks | Price | Price% | OI% | OI | Stocks | Price | Price % | OI % | OI | |
| VEDL.20.12 Dec | 161.4 | 6.85 | -10.41 | 108059800 | GODREJPROP.20.12 Dec | 1365 | -1.06 | -8 | 792350 | |
| COFORGE.20.12 Dec | 2654.8 | 0.54 | -6.84 | 382875 | BOSCHLTD.20.12 Dec | 12693.5 | -0.06 | -6.37 | 139750 | |
| SRTRANSFIN.20.12 Dec | 996.6 | 3.07 | -5.92 | 4550941 | BHEL.20.12 Dec | 33.7 | -1.17 | -5.76 | 73836000 | |
| MINDTREE.20.12 Dec | 1602 | 0.05 | -5.43 | 1142400 | IDFCFIRSTB.20.12 Dec | 35.75 | -0.42 | -3.88 | 107293000 | |
| TATACHEM.20.12 Dec | 476.35 | 0.13 | -4.02 | 6678000 | AMARAJABAT.20.12 Dec | 937.5 | -0.77 | -3.08 | 1544000 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Icici Lombard General In | 1484.05 | 1.77 | 590435 | 393359 | 66.1 | Nifty Bank | 30402.2 | 1.74 | 87546 | |
| Power Grid Corporation o | 190 | 0.03 | 7281646 | 3113586 | 56.28 | Nifty Energy | 16860.7 | 1.4 | 87546 | |
| Sbi Life Insurance Compa | 873.9 | 2.22 | 2659479 | 840675 | 54.74 | Nifty Pharma | 12908.95 | 1.22 | 87546 | |
| Godrej Cons Products Ltd | 721 | 1.15 | 1648257 | 943994 | 54.33 | Nifty 50 | 13749.25 | 1.09 | 87546 | |
| Colgate Palmolive (india | 1568.85 | 0.1 | 222933 | 262855 | 53.32 | Nifty Auto | 8978.05 | 0.47 | 87546 | |
| Container Corp Of India | 392.2 | 0.09 | 1378601 | 1104615 | 50.41 | Nifty Fmcg | 34115.65 | 0.44 | 87546 | |
| Indus Towers Limited | 239.1 | 0.99 | 3503211 | 2260197 | 49.92 | Nifty Metal | 3144.3 | 0.33 | 87546 | |
| Hdfc Bank Ltd. | 1397.1 | 1.56 | 7476094 | 3826850 | 49.48 | Nifty Realty | 299.25 | -0.43 | 87546 | |
| Hindustan Petroleum Corp | 213.65 | 1.59 | 5615342 | 4118255 | 49.36 | Nifty it | 24009.25 | -0.66 | 87546 | |
| Hdfc Life Insurance Comp | 657.25 | 1.33 | 3776278 | 1420948 | 48.32 | Nifty Media | 1638.15 | -0.76 | 87546 | |
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UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: Infrastructure Output (YoY) (Nov) on 31st December, 2020
INR: Federal Fiscal Deficit (Nov) on 31st December, 2020 |
•USD : CB Consumer Confidence (Dec) on 29th December, 2020
•USD : Pending Home Sales (MoM) (Nov) on 30th December, 2020 |
NEWS UPDATES
| •The Indian auto industry is expected to see stronger growth in 2021-22, after recovering from the devastating effects of the Covid-19 pandemic, with electric vehicle sales, especially two-wheelers, also likely to see positive movements, according to Nomura Research Institute Consulting & Solutions India. However, in the personal vehicles segment, the levels reached in 2018-19 would be reached only in 2023-24, it added.
•DLF Cyber City Developers Ltd., the joint venture firm of DLF and Singapore’s sovereign wealth fund GIC, has entered into a securities purchase agreement with funds managed by Hines for the acquisition of their stake in Fairleaf Real Estate, which owns and operates ‘One Horizon Center’. The purchase consideration for this acquisition is approximately Rs 780 crore. •Dish TV, the popular direct-to-home operator, on Friday said that it has received a notice from the government for payment of ₹4,164.05 crore for licence fee. The company said that Union ministry had provided 15 days to remit the amount. The amount includes the license fee payable and accrued interest thereon. •Coal India Ltd. is set to diversify into non-coal mining areas as well as make major investments in clean technology in 2021 after demand for the dry fuel remained muted for most of this year amid the coronavirus pandemic impacting economic activities. Source: Economic Times, Moneycontrol ,Business Today, Livemint, Business Standard, Bloomberg Quint |
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BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| PHYTO | General | 28-Dec-20 | LAHL | General | 29-Dec-20 |
| TRADWIN | Results;Quarterly Results;General | 28-Dec-20 | REFEX | Interim Dividend;General | 29-Dec-20 |
| UNQTYMI | General | 28-Dec-20 | SARLAPOLY | General | 29-Dec-20 |
| WEPSOLN | Amalgamation;General | 28-Dec-20 | SBTL | Audited Results;A.G.M.;General | 29-Dec-20 |
| BOMBPOT | A.G.M.;General | 29-Dec-20 | VIKASPROP | Quarterly Results | 29-Dec-20 |
| CONTPTR | General | 29-Dec-20 | ASMTEC | Bonus issue;Increase in Auth. Capital | 30-Dec-20 |
| FRUTION | General | 29-Dec-20 | BIBCL | A.G.M.;Quarterly Results;General | 30-Dec-20 |
| GDL | Interim Dividend | 29-Dec-20 | CMI | Preferential Issue of shares;General | 30-Dec-20 |
| GLITTEKG | A.G.M.;General | 29-Dec-20 | DEL | General | 30-Dec-20 |
| JSL | Scheme of Arrangement;General | 29-Dec-20 | GANESHHOUC | General | 30-Dec-20 |
| JSLHISAR | Scheme of Arrangement;General | 29-Dec-20 | HSIL* | Buy Back of Shares | 30-Dec-20 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| ENGINERSIN | 31-Dec-20 | Buy Back of Shares | ABANSENT | 05-Jan-21 | Interim Dividend – Rs. – 0.1000 |
| INDPRUD | 31-Dec-20 | Buy Back of Shares | GDL | 05-Jan-21 | Interim Dividend |
| PILANIINVS | 31-Dec-20 | Bonus issue 2:5 | STEELXIND | 07-Jan-21 | E.G.M. |
| HAZOOR | 01-Jan-21 | Consolidation of Shares | LPNAVAL | 08-Jan-21 | E.G.M. |
| ANISHAIMPEX | 04-Jan-21 | E.G.M. | HCLTECH | 21-Jan-21 | Interim Dividend |
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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