NIFTY:
The Nifty opened at 13980.90 with a gap up of 48 points. Higher levels did not sustain long enough. The index filled the gap within the first 5 minutes of trading. The index then traded range bound and narrow till afternoon. Around 12:50 PM, prices have begun to move higher and rallied more than 100 points to close at 13981.95 up by 49.53 points. Bank Nifty has underperformed and closed lower together with the Pharma sector. All other sectoral indices have closed with gains led by Metal, Auto and Realty.
Yesterday we suggested to trade to buy the index above 13970 or sell short below 13850. In case of a gap up or gap down beyond these levels, avoid the trade. The index opened above 13970 thus the trade was cancelled itself.
Astrazeneca and the University of Oxford’s Covid – 19 vaccine won UK clearance. This news gives a boost in the second half and the index managed to close with gains.
The Nifty continued making lifetime new highs and the high of 13997 was just 3 points shy from the 14000 milestone.
The index has made a Doji pattern for two consecutive days suggesting confusing amongst the bulls and the bears.
BANK NIFTY:
Bank Nifty opened at 31479.80 with a gap up of 130 points. The gap up did not sustain long and filled within the first 10 minutes of trading. Prices have fallen further to record its intraday low at 31007.15. In the second half, prices have seen some recovery and finally closed at 31303 with minor losses. PSU and Private banks both have performed almost the same and closed with marginal losses. Within the index, in terms of points, Kotak Bank contributed highest while Axis Bank contributed the lowest.
Bank Nifty has seen a breakout from 30900 resistance daybefore and yesterday prices traded choppy and narrow. However the index remained above 30900 which will now act as support.
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TECHNICAL PICKS
| COMPANY | CMP | B/S | RATIONALE |
| ULTRATECH | 5354.75 | BUY | The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 5270 and for the target 5500 |
| DABUR | 539.55 | BUY | The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 530 and for the target 555-560. |
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DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| M&M | 720 CE | BUY | 33.35 | CMP | 28 | 42 | OI increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| TITAN.20.12 Dec | 1552 | 0.69 | 37.27 | 3497250 | ICICIPRULI.20.12 Dec | 495.3 | -1.16 | 31.94 | 3705000 | |
| MRF.20.12 Dec | 76634.8 | 0.98 | 35.99 | 31060 | CIPLA.20.12 Dec | 821 | -0.84 | 27.65 | 8173100 | |
| TECHM.20.12 Dec | 981.5 | 1.41 | 23.59 | 7444800 | MARICO.20.12 Dec | 400.95 | -1.58 | 26.38 | 6688000 | |
| ULTRACEMCO.20.12 Dec | 5375.2 | 4.54 | 20.84 | 720200 | TATACONSUM.20.12 Dec | 593.45 | -1.08 | 22.56 | 6335550 | |
| MARUTI.20.12 Dec | 7605.05 | 1.95 | 20.13 | 1619900 | ICICIBANK.20.12 Dec | 528 | -0.23 | 21.94 | 37380750 | |
| Short Covering | Long Unwinding | |||||||||
| Stocks | Price | Price% | OI% | OI | Stocks | Price | Price % | OI % | OI | |
| IDFCFIRSTB.20.12 Dec | 36.7 | 0 | -52.24 | 22078000 | RBLBANK.20.12 Dec | 231.25 | -0.69 | -47.2 | 3647800 | |
| AMARAJABAT.20.12 Dec | 938 | 0.02 | -33.05 | 391000 | M&MFIN.20.12 Dec | 174.3 | -0.4 | -32.81 | 2934288 | |
| VOLTAS.20.12 Dec | 819.3 | 0.34 | -32.5 | 677000 | LICHSGFIN.20.12 Dec | 360.4 | -1.15 | -32.33 | 2060000 | |
| VEDL.20.12 Dec | 161.4 | 0.53 | -30.7 | 16988000 | MGL.20.12 Dec | 1072.05 | -1.22 | -27.68 | 457800 | |
| HEROMOTOCO.20.12 Dec | 3107.05 | 0.9 | -30.45 | 557700 | GODREJPROP.20.12 Dec | 1396.95 | -0.72 | -27.03 | 431600 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Gmr Infrastructure Limit | 27.4 | 3.79 | 146111191 | 29449733 | 63.8 | Nifty Auto | 9164.8 | 1.34 | 80034 | |
| Power Grid Corporation o | 190.2 | 0.26 | 10762081 | 2715972 | 56.47 | Nifty Metal | 3230.9 | 1.29 | 80034 | |
| Icici Lombard General In | 1510.1 | -0.01 | 721897 | 225445 | 53.02 | Nifty Realty | 310.05 | 1.29 | 80034 | |
| Hdfc Bank Ltd. | 1432.5 | 0.37 | 8108363 | 3741168 | 51.62 | Nifty Fmcg | 34313.7 | 0.39 | 80034 | |
| Max Financial Services l | 683.85 | 0.52 | 852229 | 728745 | 51.08 | Nifty 50 | 13981.95 | 0.35 | 80034 | |
| Hdfc Ltd. | 2518.05 | -0.04 | 2902423 | 2226857 | 49.59 | Nifty Energy | 16948.75 | 0.29 | 80034 | |
| Infosys Limited | 1246.8 | -0.28 | 5194690 | 3219736 | 46.81 | Nifty it | 24330.05 | 0.23 | 80034 | |
| Nestleind | 18379.25 | 0.64 | 93654 | 92412 | 46.51 | Nifty Media | 1633 | 0.17 | 80034 | |
| Tata Consultancy Serv Lt | 2909.3 | -0.72 | 2637968 | 926286 | 46.45 | Nifty Bank | 31303.05 | -0.06 | 80034 | |
| Hindustan Unilever Ltd | 2406.6 | 0.94 | 1924886 | 798376 | 45.65 | Nifty Pharma | 12823.9 | -0.16 | 80034 | |
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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 : Initial Jobless Claims on 31st December, 2020 |
NEWS UPDATES
| •Reliance Industries Ltd and UK’s BP Plc have invited companies to bid for the sale of gas produced from the KG D6 basin, which will be available from February 1. Both the energy giants have formed a joint venture to develop and produce gas from deep water fields in the KG-D6 block off the Kakinada coast. The gas produced for KG D6 will be available for sale at the delivery point at Gadimoga near Kakinada, Andhra Pradesh tentatively from 01 February 2021.
•The Centre on Wednesday, December 30, extended the suspension of scheduled commercial international flights till January 31, 2021. However, restrictions will not apply on special flights as well as international air cargo operations. •The Union Cabinet on Wednesday approved a modified scheme to enhance ethanol distillation capacity in the country. Union Cabinet approves modified scheme to enhance ethanol distillation capacity in the country for producing 1st Generation (1G) ethanol from feedstocks such as cereals (rice, wheat, barley, corn & sorghum), sugarcane, sugar beet etc. •The life insurance industry’s growth in the current fiscal is likely to stay flat amid sharp traction seen in the protection business and Rs 5 lakh income tax exemption will have a short-term negative impact, a top life insurance official said on Wednesday. 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 |
| BANASFN | General | 31-Dec-20 | THEINVEST | General | 31-Dec-20 |
| CMMHOSP | General | 31-Dec-20 | TILAK | General | 31-Dec-20 |
| CRPRISK | Audited Results;General | 31-Dec-20 | GBFL | General | 01-Jan-21 |
| DECIPHER | General | 31-Dec-20 | MKEXIM | General;Preferential Issue of shares | 01-Jan-21 |
| INDOASIAF | General | 31-Dec-20 | TIRUSTA | General;Preferential Issue | 01-Jan-21 |
| JAGSONAI | Quarterly Results | 31-Dec-20 | AKSHAR | General | 02-Jan-21 |
| NITINCAST | General | 31-Dec-20 | CFEL | General | 02-Jan-21 |
| RITCO | General | 31-Dec-20 | NEOINFRA | General | 02-Jan-21 |
| SAMINDUS | General | 31-Dec-20 | PRIMEFRESH | General | 02-Jan-21 |
| SPANDANA | General | 31-Dec-20 | RPEL | Preferential Issue of shares | 02-Jan-21 |
| STERPOW | A.G.M.;Audited Results;General | 31-Dec-20 | DECCAN | Half Yearly Results | 04-Jan-21 |
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 – Rs. – 2.0000 |
| 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. |
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