Outlook-2020-01-29NIFTY:

The NIFTY fell again, almost 63 points, which is half percent. This decline needs to be seen against the backdrop of a massive US market  for yesterday where the US market fell more than 1.5%.

Today’s decline may well mark the end of a correction in the index. NIFTY has been falling for seven trading days after having reached a new high at 12400+ on 20th January. It is possible that the markets may now have gone through that inevitable correction and may be ready to resume their upward movement.

We recommend buying the NIFTY with a stop under the previous low of 11900. Traders may like to use options to take this long position, with options expiring in February.

VIEW:

look for buying with stop under  11900.

TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
     LICHSGFIN 457.50 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  450 and for the target of  470.
      ZEEL 272.70 SELL The immediate trend of the stock is weak . The stock can be sold  at CMP with a stop loss of  276.60  and for  the target of  264.

DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
RBLBANK 340 CE BUY 3.75 CMP 1.50 9 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
PETRONET.Jan 30 273.65 0.24 28.06 21072000 MOTHERSUMI.Jan 30 139 -1.07 29.26 27695000
ACC.Jan 30 1559.15 0.47 26.01 4020800 TORNTPHARM.Jan 30 1908.25 -5.88 27.47 355000
MCDOWELL-N.Jan 30 655.05 13.51 23.72 11903750 WIPRO.Jan 30 243.95 -0.65 26.59 20323200
GODREJCP.Jan 30 740.95 0.26 22.7 4657600 INFY.Jan 30 779 -0.06 22.57 27348000
HDFCBANK.Jan 30 1226.1 0.83 21.75 30491500 M&M.Jan 30 573.2 -0.83 21.3 23693000
                                                                        Short Covering                                                                              Long unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
PFC.Jan 30 116.4 0.34 -20.87 30559800 SAIL.Jan 30 47.1 -3.38 -20.61 50569700
NIITTECH.Jan 30 1990 2.38 -18.93 658500 RAMCOCEM.Jan 30 849.6 -1.26 -20.09 1024800
IGL.Jan 30 515.4 1.96 -18.92 5882250 IBULHSGFIN.Jan 30 321.4 -0.65 -19.8 9903600
IOC.Jan 30 118.1 0.51 -17.77 74284000 BIOCON.Jan 30 287.85 -1.03 -19.64 5552200
BANKBARODA.Jan 30 93.4 1.19 -10.28 51629400 MINDTREE.Jan 30 876.95 -1.09 -19.61 862400

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
HCL Technologies Ltd. 601.45 -0.48 5330709 1638147 66.85 INDIA VIX 17.3 0.68 83361
HDFC BANK LTD. 1223.2 0.82 6706079 6145074 65.07 Nifty IT 16429.75 0.22 83361
ICICI PRUDENTIAL LIFE IN 526.65 0.08 1235648 2980872 61.38 Nifty Realty 326.95 0.05 83364
Oil & Natural Gas Corp 116.6 -0.55 11611352 7160784 59.29 Nifty Pharma 8420.25 0.05 83361
Hindustan Unilever Ltd 2060.6 -0.04 777052 253671 59.09 Nifty Bank 30761.4 -0.25 83361
Cipla Ltd 464.7 0.05 3592413 3406154 58.23 Nifty FMCG 31027.05 -0.39 83361
ITC Ltd. 230.75 -1.64 14582907 3974981 58.13 Nifty 50 12055.8 -0.52 83361
HDFC Ltd. 2431.6 1.49 6698252 1476587 58.06 Nifty Media 1861 -1.14 83364
Tata Chemicals Ltd. 748.95 -0.09 408669 294690 57.97 Nifty Auto 8156.05 -1.24 83364
Bharti Airtel Limited 491.25 -4.5 31091035 6633224 56.99 Nifty Metal 2642.25 -2.49 83364

Upcoming Economic Data

   Domestic                                                                                                                                                  International
•INR: Federal Fiscal Deficit (Dec) on 31st Janaury,2020

•INR: Infrastructure Output (YoY) (Dec) on 31st January,2020

•USA: Crude Oil Inventories on 29th January,2020

•USA: Fed Interest Rate Decision on 30th January,2020

News Updates

•Maruti Suzuki India Ltd.’s profit met estimates in the three months ended December as sales rose after five quarters. Net profit of India’s largest carmaker rose 5 percent year-on-year to Rs 1,565 crore in the October-December period, according to an exchange filing. That compares with the Rs 1,587-crore consensus estimate of analysts tracked by Bloomberg. Its bottom line had hit a four-year low in the second quarter.

•Airtel Africa Plc’s operating profit beat estimates in the quarter ended December. Not just that, it also breached its previous record to hit a new all-time high as revenue rose, operating leverage improved, and costs fell. Operating profit of the continent’s second-largest mobile operator rose 24 percent year-on-year to $399 million, according to its statement. Margin of Bharti Airtel Ltd.’s Africa unit expanded more than 400 basis points to 45.2 percent.

•Piramal Enterprises is looking to raise around $500 mn by divesting a minority stake in its pharma business and has appointed advisors for the fresh fund raise.

•India’s largest mortgage lender Housing Development Finance Corporation Ltd. is planning to invest up to Rs 100 crore per year in tech startups, Chairman Deepak Paresh said Tuesday. HDFC will set up a dedicated team with an understanding of the startup ecosystem to do the investments, he said.

Source: Economic Times,  Moneycontrol  ,Business Today, Business Standard, Bloomberg Quint

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
BAJAJFINSV Quarterly Results 29-Jan-20 KPITTECH Interim Dividend;Quarterly Results 29-Jan-20
BAJFINANCE General;Quarterly Results 29-Jan-20 KSL Quarterly Results 29-Jan-20
BHARATGEAR Quarterly Results 29-Jan-20 NIITTECH Interim Dividend;Quarterly Results 29-Jan-20
DIXON Quarterly Results 29-Jan-20 ORIENTCEM Quarterly Results 29-Jan-20
ESCORTS General;Quarterly Results 29-Jan-20 PIDILITIND Quarterly Results 29-Jan-20
GODREJCP Interim Dividend;Quarterly Results 29-Jan-20 PTCIL General;Quarterly Results 29-Jan-20
GRNLAMIND Quarterly Results 29-Jan-20 PVVINFRA General 29-Jan-20
IDFCFIRSTB Quarterly Results 29-Jan-20 QUESS Quarterly Results 29-Jan-20
INTEGRAEN Quarterly Results 29-Jan-20 RAMCOCEM Quarterly Results 29-Jan-20
ITI General 29-Jan-20 RAMCOIND Quarterly Results 29-Jan-20
JONJUA General 29-Jan-20 TATAPOWER Quarterly Results 29-Jan-20
JUBLFOOD Quarterly Results 29-Jan-20 TCI Interim Dividend;Quarterly Results 29-Jan-20
KABRADG General 29-Jan-20 TCIDEVELOP Quarterly Results 29-Jan-20
KAYA Quarterly Results 29-Jan-20 TRIDENT Quarterly Results 29-Jan-20

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
IIFLWAM 29-Jan-20 Interim Dividend – Rs. – 10.00 NAM-INDIA 03-Feb-20 Interim Dividend – Rs. – 3.00
KENVI 29-Jan-20 Bonus issue 11:10 RBL 03-Feb-20 Interim Dividend – Rs. – 6.00
GMM 30-Jan-20 Interim Dividend – Rs. – 1.00 SIEMENS 03-Feb-20 Dividend – Rs. – 7.00
GRANULES 30-Jan-20 Interim Dividend – Rs. – 0.25 TCIEXP 03-Feb-20 Interim Dividend – Rs. – 1.50
MOTILALOFS 31-Jan-20 Interim Dividend – Rs. – 4.00 ACGL 04-Feb-20 Interim Dividend – Rs. – 5.00
SHARDACROP 31-Jan-20 Interim Dividend – Rs. – 2.00 CONTROLPR 04-Feb-20 Interim Dividend – Rs. – 3.50
DBCORP 03-Feb-20 Interim Dividend – Rs. – 3.50 VINATIORGA 05-Feb-20 Stock  Split From Rs.2/- to Rs.1/-
KIRLPNU 03-Feb-20 Interim Dividend – Rs. – 1.00 ARROWTEX 06-Feb-20 Amalgamation

 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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