NIFTY:
The NIFTY continuous to move higher, taking small steps at a time, but remaining on a steady up move. The benchmark index closed at 12260.6, with a gain of 14 points.
The market breadth was tilted in favour of buyers. About 1075 stocks advanced and 747 shares declined on National stock exchange.
All said and done, the uptrend is intact with numerous intraday dips. The intraday dips that we see every day are in fact a substitute for a larger correction. We have an intraday dips and by the end of the day the markets recovers. Such dips can be considered as running corrections which means a correction that occurs within the day. We are writing about such a correction because all markets should correct and do correct.
VIEW:
Buy on a dip towards 12200 with a stop just below 12170.
Buy on a breakout above 12290 with a stop just below 12260.
TECHNICAL PICKS
| COMPANY | CMP | B/S | RATIONALE |
| EICHERMOT | 22784.5 | 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 22500 and for the target of 23500. |
| CENTURYTEX | 482.40 | SELL | The immediate trend of the stock is weak . The stock can be sell with a stop loss of 488.50 and for the target of 465. |
DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| TATAMOTORS | 185 CE | BUY | 8.95 | CMP | 6.50 | 14 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| MINDTREE.Jan 30 | 801.8 | 2.73 | 25.98 | 1330400 | CUMMINSIND.Jan 30 | 555 | -1.53 | 17.88 | 1762200 | |
| BATAINDIA.Jan 30 | 1774 | 2.69 | 16.38 | 2109800 | SIEMENS.Jan 30 | 1522.3 | -0.6 | 6.7 | 2471150 | |
| PVR.Jan 30 | 1905.05 | 0.86 | 10.82 | 1097600 | JUBLFOOD.Jan 30 | 1637 | -0.06 | 6.46 | 2215500 | |
| COALINDIA.Jan 30 | 202.7 | 1.55 | 10.75 | 14326200 | INFY.Jan 30 | 736.4 | -0.15 | 5.76 | 26162400 | |
| NMDC.Jan 30 | 127.75 | 1.07 | 7.3 | 22320000 | TATACHEM.Jan 30 | 671.6 | -0.16 | 5.74 | 3000600 | |
| Short Covering | Long unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| NBCC.Jan 30 | 34.8 | 1.46 | -4.73 | 38052300 | BANKNIFTY.Jan 30 | 32552.6 | -0.16 | -5.11 | 1447700 | |
| VOLTAS.Jan 30 | 662.8 | 1.43 | -2.77 | 3336000 | BANKBARODA.Jan 30 | 103.55 | -1.38 | -0.99 | 76420800 | |
| INDIGO.Jan 30 | 1350.6 | 0.14 | -0.68 | 3358200 | BIOCON.Jan 30 | 292.75 | -0.41 | -0.69 | 10292500 | |
| CASTROLIND.Jan 30 | 129.65 | 0.5 | -0.4 | 6182800 | LUPIN.Jan 30 | 773.25 | -0.14 | -0.09 | 7345100 | |
| KOTAKBANK.Jan 30 | 1698.75 | 0.04 | -0.38 | 8657200 | ||||||
Top Delivery Percentage
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| HDFC BANK LTD. | 1282.15 | 0.56 | 4667095 | 2510820 | 70.8 | INDIA VIX | 11.01 | 4.63 | 83277 | |
| Godrej Cons Products Ltd | 688.65 | -0.03 | 765693 | 739905 | 69.95 | Nifty Auto | 8325.4 | 1.46 | 83274 | |
| ITC Ltd. | 238.2 | 0.55 | 13173134 | 5918603 | 67.93 | Nifty Metal | 2796.5 | 1.31 | 83274 | |
| GMR Infrastructure Limit | 20.85 | -0.95 | 11899410 | 4435926 | 62.36 | Nifty Media | 1830.3 | 0.81 | 83274 | |
| Hindustan Unilever Ltd | 1937.25 | -0.65 | 1117498 | 578438 | 61.67 | Nifty FMCG | 30225.35 | 0.27 | 83277 | |
| OIL | 151.95 | 0.66 | 327623 | 564038 | 59.55 | Nifty Pharma | 8083.1 | 0.19 | 83277 | |
| Petronet LNG Limited | 269.45 | -0.83 | 1364545 | 913544 | 59.3 | Nifty 50 | 12255.85 | 0.08 | 83277 | |
| THE RAMCO CEMENTS | 756.25 | 0.77 | 172883 | 99327 | 59.12 | NIFTY Pvt Bank | 17884.5 | -0.02 | 83274 | |
| Dabur India Ltd. | 462.6 | 0.61 | 1349981 | 634932 | 58.7 | Nifty IT | 15775 | -0.04 | 83277 | |
| HCL Technologies Ltd. | 569.3 | 0.31 | 1800754 | 1623093 | 58.24 | Nifty Bank | 32354.9 | -0.18 | 83277 | |
Upcoming Economic Data
| Domestic International | |
| •INR: Federal Fiscal Deficit (Nov) on 31st December 2019
•INR: Infrastructure Output (YoY) (Nov) on 31st December 2019 |
•USA: CB Consumer Confidence (Dec) on 31st December 2019
•USA: API Weekly Crude Oil Stock on 1st January 2020 |
News Updates
| •Reliance Industries Ltd. and U.K.’s BP Plc paid $36 million (about Rs 257 crore) to get their defaulting Canadian partner Niko Resources to exit from the eastern offshore KG-D6 block. In a statement, Niko said it has exited from the KG-DWN-98/3 block and its 10 percent stake has been taken over by Reliance and BP.
•Adani Ports and Special Economic Zone share price added nearly 2 percent intraday on December 30 after the company’s subsidiary acquired 40 percent stake in Snowman Logistics. Adani Logistics, a wholly-owned subsidiary of Adani Ports and SEZ, has signed definitive agreements to acquire 40.25 percent stake in Snowman Logistics from Gateway Distriparks. •Prince Pipes and Fittings, the last listing of the year 2019, had a subdued start on December 30 on expected lines due to corporate governance and debt concerns. The stock opened at Rs 160 and fell as much as 14.3 percent in morning to hit a day’s low of Rs 152.60, but the management clarification over litigation and debts helped it recover more than half of losses. Source: Economic Times, Moneycontrol ,Bloomberg Quint, |
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| MAANALU | General | 31-Dec-19 | SONAL | General | 04-Jan-20 |
| OMNIAX | General | 31-Dec-19 | UNITECH | Quarterly Results | 04-Jan-20 |
| RATHIGRA | General | 31-Dec-19 | ITI | Quarterly Results | 06-Jan-20 |
| ROYALIND | General | 31-Dec-19 | PROVESTSER | General | 06-Jan-20 |
| JTLINFRA | General | 01-Jan-20 | SUBEX | Reduction of Capital | 06-Jan-20 |
| JINAAM | General | 02-Jan-20 | BETALA | Quarterly Results | 07-Jan-20 |
| DECANBRG | Quarterly Results | 03-Jan-20 | GMBREW | Quarterly Results | 07-Jan-20 |
| KENNAMET | General | 03-Jan-20 | INDSWFTLAB | General | 08-Jan-20 |
| OCTAWARE | General | 03-Jan-20 | KORE | Quarterly Results | 10-Jan-20 |
| HINDSECR | Voluntary Delisting of Shares | 04-Jan-20 | NEH | Voluntary Delisting of Shares | 10-Jan-20 |
| KINETRU | General | 04-Jan-20 | UTTAMSTL | Quarterly Results | 10-Jan-20 |
| MITSHI | Preferential Issue of shares | 04-Jan-20 | CHADPAP | Quarterly Results | 14-Jan-20 |
Corporate Action
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| POOJA | 02-Jan-20 | Bonus issue 1:1 | SWADPOL | 09-Jan-20 | Stock Split From Rs.10/- to Rs.1/- |
| RITES | 09-Jan-20 | Interim Dividend – Rs. – 6.00 | SIS | 15-Jan-20 | Stock Split From Rs.10/- to Rs.5/- |
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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