NIFTY:
So far and yet so near; this was the story of the NIFTY today. The NIFTY was within striking distance of making a lifetime new high, but failed to do so. The market was in a mode of consolidation throughout the day. It appears that the markets have encountered a temporary resistance around 12300, and are likely to remain inside a range or even go through a minor correction for the next few days.
When the market is big in a correction within an overall uptrend, this creates a problem as well as an opportunity for traders.
VIEW:
Buy on a breakout above 11300 with a stop just below 11270.
Buy on a dip towards 12235 with a stop just below 12200.
TECHNICAL PICKS
| COMPANY | CMP | B/S | RATIONALE |
| HDFC | 2466.40 | BUY | The stock has given the breakout with volume on the intraday as well as on the daily chart. The stock can be bought between 2450-2452 with a stop loss of 2437 and for the target of 2485. |
| HEROMOTOCO | 2429.45 | SELL | The immediate trend of the stock is weak . The stock can be sell with a stop loss of 2455 and for the target of 2390. |
DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| HDFCBANK | 1280 CE | BUY | 31.15 | CMP | 22 | 50 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| RAMCOCEM.Jan 30 | 774.7 | 2.24 | 24.53 | 1267200 | SUNTV.Jan 30 | 437.1 | 22.11 | -1.11 | 4996800 | |
| NATIONALUM.Jan 30 | 46.1 | 6.34 | 9.17 | 46402200 | PVR.Jan 30 | 1881.85 | 18.39 | -1.26 | 1264400 | |
| BEL.Jan 30 | 103.65 | 2.93 | 8.17 | 28908000 | MINDTREE.Jan 30 | 806.3 | 10.66 | -0.21 | 1154400 | |
| TATASTEEL.Jan 30 | 486.6 | 3.45 | 6.55 | 24571500 | EICHERMOT.Jan 30 | 21701.6 | 9.19 | -2.24 | 305850 | |
| JINDALSTEL.Jan 30 | 174.4 | 4.28 | 6.25 | 26435000 | TVSMOTOR.Jan 30 | 450.75 | 7.79 | -2.18 | 5979150 | |
| Short Covering | Long unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| ESCORTS.Jan 30 | 620.85 | 2.07 | -10.33 | 5243700 | HEROMOTOCO.Jan 30 | 2438.3 | -0.23 | -3.51 | 3639200 | |
| SAIL.Jan 30 | 47.45 | 9.97 | -7.93 | 82534900 | NIFTYIT.Jan 30 | 15701 | -0.31 | -0.98 | 5050 | |
| APOLLOTYRE.Jan 30 | 171 | 4.08 | -5.78 | 8700000 | BAJAJ-AUTO.Jan 30 | 3135.8 | -1.09 | -0.93 | 2528250 | |
| AMBUJACEM.Jan 30 | 206.7 | 4.47 | -4.41 | 18030000 | INDIGO.Jan 30 | 1339.7 | -0.11 | -0.56 | 3186300 | |
| APOLLOHOSP.Jan 30 | 1496.75 | 4.37 | -3.09 | 1554000 | ASIANPAINT.Jan 30 | 1799.75 | -0.14 | -0.2 | 8553000 | |
Top Delivery Percentage
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Dabur India Ltd. | 459.95 | 0.03 | 502422 | 278581 | 56.2 | Nifty Metal | 2869.9 | 2.64 | 109171600 | |
| HCL Technologies Ltd. | 573.55 | 0.28 | 1075642 | 503196 | 54.79 | Nifty Realty | 301 | 1.06 | 1036910231 | |
| Petronet LNG Limited | 268.95 | 0.88 | 916521 | 409549 | 50.83 | Nifty Bank | 32443.85 | 1.06 | 9637879 | |
| CONTAINER CORP OF INDIA | 572 | -0.17 | 835523 | 309167 | 50.23 | Nifty 50 | 12282.2 | 0.82 | 25441403 | |
| THE RAMCO CEMENTS | 769.1 | 2.08 | 851564 | 46033 | 49.77 | Nifty Auto | 8267.45 | 0.7 | 37775534 | |
| Power Grid Corporation o | 195.1 | -0.2 | 3191453 | 3762688 | 49.11 | Nifty Media | 1800.65 | 0.36 | 173645565 | |
| Colgate Palmolive (India | 1459.9 | -0.08 | 224986 | 89529 | 48.52 | Nifty FMCG | 30266.2 | 0.11 | 310155 | |
| MARICO LIMITED | 337.2 | -2.47 | 2592967 | 538665 | 48.11 | Nifty Pharma | 8053.95 | 0.09 | 38676399 | |
| Kotak Mahindra Bank Limi | 1671.55 | -0.15 | 1852089 | 671941 | 45.55 | Nifty IT | 15709.65 | -0.08 | 864124 | |
| ICICI PRUDENTIAL LIFE IN | 486.45 | 1.14 | 880457 | 277815 | 45.28 | INDIA VIX | 11.49 | -0.95 | 269673469 | |
Upcoming Economic Data
| Domestic International | |
| •INR: FX Reserves, USD on 3rd January 2020
•INR: Bank Loan Growth on 3rd January 2020 |
•USA: Crude Oil Inventories on 3rd January 2020
•USA: ISM Manufacturing PMI (Dec) on 3rd January 2020 |
News Updates
| •The government may be unable to complete the strategic divestment of Bharat Petroleum Corporation (BPCL), Air India and Container Corporation of India (CONCOR) by March-end. All three divestments are at different stages, but going on very strongly. However, all three are unlikely to be completed in FY20.
•Tata Sons on January 2 moved the Supreme Court challenging the December 18 decision of the NCLAT restoring Cyrus Mistry as the executive chairman of the group. The Tata Group sought stay of the verdict by which the National Company Law Appellate Tribunal (NCLAT) ruled as “illegal” the appointment of N Chandrasekaran as head of the holding company of over USD 110 billion salt-to-software conglomerate. •Marico share price closed lower in trade today after the consumer goods company in an update for the third quarter said consumption trends fell below expectations amid soft demand for products. The firm which manufactures beauty and wellness products saw growth across personal care remaining under pressure. •Bajaj Auto, which is one of India’s largest two-wheeler manufacturers, has seen a drop of 12 per cent in toatal sales of both commercial vehicles and motorcycles at 1,965,547 units as against 2,228,421 units in April-December 2019. Source: Economic Times, Moneycontrol ,Business Today Bloomberg Quint,, |
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| AIIL | General | 03-Jan-20 | BAJAJELEC | General | 06-Jan-20 |
| DECANBRG | Quarterly Results | 03-Jan-20 | DRA | General | 06-Jan-20 |
| KENNAMET | General | 03-Jan-20 | ITI | Quarterly Results | 06-Jan-20 |
| OCTAWARE | General | 03-Jan-20 | NGIL | General | 06-Jan-20 |
| CONFIPET | General | 04-Jan-20 | NUTRA | General | 06-Jan-20 |
| FRETAIL | General | 04-Jan-20 | POOJA | Bonus issue | 06-Jan-20 |
| HINDSECR | Voluntary Delisting of Shares | 04-Jan-20 | PROVESTSER | General | 06-Jan-20 |
| KINETRU | General | 04-Jan-20 | STERSPN | Preferential Issue of shares | 06-Jan-20 |
| MITSHI | Preferential Issue of shares | 04-Jan-20 | SUBEX | Reduction of Capital | 06-Jan-20 |
| NLCINDIA | General | 04-Jan-20 | BETALA | Quarterly Results | 07-Jan-20 |
| SONAL | General | 04-Jan-20 | COASTCORP | Amalgamation;General | 07-Jan-20 |
| UNITECH | Quarterly Results | 04-Jan-20 | GMBREW | Quarterly Results | 07-Jan-20 |
Corporate Action
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| RITES | 09-Jan-20 | Interim Dividend – Rs. – 6.0000 | SIS | 15-Jan-20 | Stock Split From Rs.10/- to Rs.5/- |
| SWADPOL | 09-Jan-20 | Stock Split From Rs.10/- to Rs.1/- |
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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