OUTLOOKNIFTY:

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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