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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