Outlook-2019-12-03

NIFTY:

The NIFTY spend the day doing almost nothing, although there was a significant amount of intraday volatility. But the end result of all this volatile action was a big zero. The NIFTY closed almost unchanged as compared to Friday’s close. The reason is very simple: a trading range suggests indecision, which means the markets have no idea of where the next move will be. If the markets in their collective wisdom do not have an idea, we as individual trader cannot be smarter than the markets.

For short-term traders, a very narrow trading range  in the NIFTY is visible with support under 12020 and resistance above 12065. A break from any of these levels should provide a move of about 45 points. For position traders, who need a larger view, the NIFTY is providing resistance around 12150.

VIEW:

Sell short if NIFTY breaks below 12020. Go long if NIFTY breaks above 12065.

Target and stop for this trade will be 45 points fro the entry point for both sides.

TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
     ASIANPAINT 1738.25 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  1720 and for the target of  1760-1765.
     BAJFINANCE 3952 SELL The immediate trend of the stock is weak . The stock can be sell with a stop loss of  3985 and for  the target of  3880.

 

DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
BIOCON 290 CE BUY 10.80 CMP 8 14-15.50 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
RBLBANK.Dec 26 374 0.86 11.18 15998400 EQUITAS.Dec 26 105.2 -0.94 17.52 12264000
BIOCON.Dec 26 285.05 1.03 10.24 9745200 NIFTYIT.Dec 26 15004 -0.79 13.37 11450
IBULHSGFIN.Dec 26 304.05 6.26 8.68 25667200 MUTHOOTFIN.Dec 26 680.8 -0.15 10.3 4338000
MFSL.Dec 26 510 0.65 5.73 7308000 SUNTV.Dec 26 473.6 -2.3 9.07 3029000
LICHSGFIN.Dec 26 470 0.96 4.65 9837300 COLPAL.Dec 26 1458.95 -1.19 5.42 2520700
                                                                        Short Covering                                                                            Long unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
DISHTV.Dec 26 13.1 3.15 -9.24 88144000 CANBK.Dec 26 227.4 -0.13 -5.36 10840000
BHARTIARTL.Dec 26 460.6 3.65 -6.13 38171322 CASTROLIND.Dec 26 139.05 -1.73 -3.46 5691600
ASHOKLEY.Dec 26 79.9 1.14 -4.67 58032000 BALKRISIND.Dec 26 917.45 -0.49 -3.32 1655200
COALINDIA.Dec 26 205 0.81 -4.32 12218800 MARUTI.Dec 26 7175.9 -1.46 -3.15 3040800
PETRONET.Dec 26 278.85 2.22 -4.03 18627000 INFY.Dec 26 696.65 -0.41 -2.83 49617600

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Power Grid Corporation o 191.4 -0.98 11225852 8135376 82.42 INDIA VIX 14.2 2.16 270210461
Godrej Cons Products Ltd 728.7 0.51 935806 525018 70.08 Nifty Metal 2632.65 0.27 149151403
HCL Technologies Ltd. 1125.3 -0.21 1497958 833709 69.83 Nifty 50 12048.2 -0.07 32482503
HDFC Ltd. 2306.6 0.41 4044191 2097642 69.3 Nifty Bank 31871.45 -0.23 12296572
ITC Ltd. 244.95 -0.59 9972664 6370297 64.95 Nifty FMCG 30889.5 -0.28 456539
Dabur India Ltd. 453.75 -1.17 3468701 2412944 64.31 Nifty Realty 281.05 -0.35 1395256345
ASIAN PAINTS LIMITED 1738.25 1.88 1476972 1181189 62.49 Nifty Media 1826.35 -0.47 213533136
Hindustan Unilever Ltd 2043.2 0.39 1600494 810640 62.42 Nifty Pharma 8128.95 -0.74 48119066
Larsen & Toubro Limited 1333.35 0.21 3044008 1550505 61.65 Nifty Auto 8012.75 -0.91 48819915
Reliance Industries Ltd 1586.5 2.28 14275186 5173503 60.97 Nifty IT 14852 -0.97 1493046

 

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
•INR:  Interest Rate Decision on 5th  December 2019

•INR:  FX Reserves, USD on 6th December 2019

•USA: Crude Oil Inventories  on 4th  December 2019

•USA: Nonfarm Payrolls  (Nov)  on 6th December 2019

NEWS UPDATES

•Shares of Bharti Airtel and Vodafone Idea rose up to 18 per cent in Monday’s session, on the back of revised tariff plans. Sunday’s announcement of mobile tariff hikes, will mean that nearly a billion mobile phone subscribers in India will pay up to 40 per cent or so more to make calls and use data from this month, with private operators Reliance Jio Infocomm, Bharti Airtel and Vodafone Idea increasing prices for the first time since 2016 to shore up finances.

•In a major development, NSE on Monday suspended Karvy Stock Broking’s licence due to non-compliance of regulatory provisions of the exchange.This included its trading in capital market, futures & options, currency derivatives, debt, MFSS and commodity derivatives segments.Investors with accounts with the brokerage will be able to migrate to other brokers.

•The public issue of Ujjivan Small Finance Bank (USFB) has been subscribed 1.52 times so far on December 2, the first day of bidding.The offer has received bids for 18.92 crore equity shares against IPO size of 12.39 crore shares (excluding anchor portion).

•Share price of Jagran Prakashan surged over 7 percent intraday on December 2 after the company announced a buy-back plan.”A meeting of the board of directors of Jagran Prakashan is scheduled to be held on December 9, 2019 to consider a proposal for buy-back of the fully paid-up equity shares of the Company.

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
BCG Preferential Issue of shares 03-Dec-19 MIDEASTP General 05-Dec-19
DIAMINESQ General 03-Dec-19 MUNOTHFI General 05-Dec-19
GUFICBIO Quarterly Results 03-Dec-19 ABANSENT Interim Dividend 06-Dec-19
KOTHARIFIN General 03-Dec-19 CENTRUM Quarterly Results 06-Dec-19
NESTLEIND Interim Dividend 03-Dec-19 COSBOARD General 06-Dec-19
DHUNINV Quarterly Results 04-Dec-19 EKAMLEA Quarterly Results 06-Dec-19
VERTEX General;Quarterly Results 04-Dec-19 ROLTA Quarterly Results 06-Dec-19
CEEJAY Quarterly Results 05-Dec-19 UNITDCR Quarterly Results 06-Dec-19
INVENTURE Quarterly Results 05-Dec-19 CHEMTECH General 07-Dec-19
KHAITANLTD Quarterly Results 05-Dec-19 HBSTOCK Quarterly Results 07-Dec-19
MANPASAND Audited Results 05-Dec-19 UNITECH Quarterly Results 07-Dec-19
MAYUKH General 05-Dec-19 JAGRAN Buy Back of Shares 09-Dec-19
BCG Preferential Issue of shares 03-Dec-19 MIDEASTP General 05-Dec-19

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
REDINGTON 03-Dec-19 Interim Dividend – Rs. – 1.50 SAGRSOY-B 05-Dec-19 Reduction of Capital
MANUGRAPH 04-Dec-19 Dividend – Rs. – 0.50 THOMASCOOK 05-Dec-19 Spin Off
BRNL 05-Dec-19 Dividend – Rs. – 0.50 TRIDENT 13-Dec-19 Stock  Split From Rs.10/- to Rs.1/-
HCLTECH 05-Dec-19 Bonus issue 1:1 BOROSIL 18-Dec-19 Dividend – Rs. – 0.65
HEIDELBERG 05-Dec-19 Interim Dividend – Rs. – 1.50 BALMLAWRIE 26-Dec-19 Bonus issue 1:2

 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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