2020-01-03-Outlook

 

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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