2020-12-31-OutlookNIFTY:

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.

DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014

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