The NIFTY finally broke from a narrow trading range. The lower boundary of this range at 12020 was broken on the downside and the NIFTY fall all the way to 11950 before finding some support and some selective buying. Today’s decline was suggested as intraday trade yesterday.
The larger picture remains of the NIFTY in a trading range. Support for the NIFTY comes at 11883 and resistance at 12158. These are the two boundries within which the index can continue to move for a long time, or for a short time. We do not know the time duration.
We have earlier explained that the NIFTY will find support at lower levels. If 11883 do break, then we can expect the next level of support and 11700. if 12158 break on upside, we can expect a significant rally all the way to 12500.
Buy on a dip towards 11900 with a stop just below 11870.
|HDFC||2319.70||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 2305 and for the target of 2340-2345.|
|HEXAWARE||326.50||SELL||The immediate trend of the stock is weak . The stock can be sell with a stop loss of 332 and for the target of 310.|
|STOCK OPTION||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|ESCORTS||620 PE||BUY||20||CMP||16||28||OI Increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|TORNTPHARM.Dec 26||1921||1.9||48.53||430000||HEXAWARE.Dec 26||328.7||-2.51||35.83||1575000|
|NMDC.Dec 26||108.95||2.88||16.85||23508000||BIOCON.Dec 26||283.8||-0.44||20.89||11781000|
|BAJAJ-AUTO.Dec 26||3267||2.83||13.34||2545250||RBLBANK.Dec 26||367||-1.87||20.28||19243200|
|MFSL.Dec 26||528.9||3.71||12.48||8220000||JINDALSTEL.Dec 26||148.6||-7.18||19.57||42544000|
|KOTAKBANK.Dec 26||1655.5||1.37||11.35||8398400||INFRATEL.Dec 26||248.45||-4.97||17.61||17924000|
|Short Covering||Long unwinding|
|NIFTYIT.Dec 26||15062||0.39||-3.06||11100||BALKRISIND.Dec 26||912.45||-0.54||-1.4||1632000|
|DIVISLAB.Dec 26||1799.9||0.33||-0.69||2371600||SRF.Dec 26||3220.2||-0.83||-1.07||854750|
Top Delivery Percentage
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|Power Grid Corporation o||189.4||-1.04||4191445||9692183||86.34||INDIA VIX||14.56||2.55||85044|
|Infosys Limited||698.35||0.82||5239013||7134359||76.03||Nifty IT||14920.75||0.46||85047|
|Dabur India Ltd.||451.05||-0.6||2600811||2392097||68.96||Nifty 50||11994.2||-0.45||85041|
|HDFC Ltd.||2319.7||0.57||2402354||2762267||68.3||Nifty Auto||7964.25||-0.61||85047|
|HCL Technologies Ltd.||1124.55||-0.07||1783831||1010813||67.48||Nifty FMCG||30677.5||-0.69||85047|
|TATA CONSULTANCY SERV LT||2051||1.48||4664774||2540551||66.68||Nifty Bank||31613.35||-0.81||85047|
|NTPC Limited||114.55||-0.65||6614178||4328775||65.5||Nifty Energy||16111.65||-0.9||85047|
|MARICO LIMITED||348.3||-1.57||1878740||927390||65.27||Nifty Pharma||8044.85||-1.03||85047|
|ITC Ltd.||244.05||-0.37||8129241||6381226||63.99||Nifty Media||1783.3||-2.36||85047|
|UNITED SPIRITS LIMITED||595.65||-1.37||1098309||706067||63.21||Nifty Metal||2564.2||-2.6||85047|
UPCOMING ECONOMIC DATA
|•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
•Biocon has elevated Siddharth Mittal to the position of Chief Executive Officer and Joint Managing Director. Mittal has been serving as the Chief Financial Officer of the company since August 2014. Mittal takes over from Arun Chandavarkar who retired as chief executive of Biocon on November 30, 2019, after 29 years of service.
•IPO of Ujjivan Small Finance Bank was subscribed 4.11 times so far on the second day of the share sale. Against an issue size of 12,39,58,333 equity shares, the Ujjivan Small Finance Bank IPO has received bids for 50,97,70,400 shares—indicating 411 percent subscription.
•Maruti Suzuki India on Tuesday said it will increase prices of its vehicles from January to offset rising input costs. Over the past year, the cost of company’s vehicles has been impacted adversely due to increase in various input costs, Maruti Suzuki India said in a regulatory filing.”Hence, it has become imperative for the company to pass on some impact of the above additional cost to customers through a price increase across various models in January 2020,” it added.
•Shares of Max India saw a sudden gain of over 8 percent on BSE on December 3 after IRDAI gave a nod to the company’s divestment plan for its subsidiary Max Bupa Health Insurance Company Limited. In a regulatory filing on December 3, Max India said that Insurance Regulatory and Development Authority of India (IRDAI) accorded its approval for the divestment of entire shareholding in its material subsidiary Max Bupa Health Insurance Company Limited to Fettle Tone LLP.
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|VERTEX||General;Quarterly Results||04-Dec-19||ABANSENT||Interim Dividend||06-Dec-19|
|CEEJAY||Quarterly Results||05-Dec-19||EKAMLEA||Quarterly Results||06-Dec-19|
|GATI||Preferential Issue of shares||05-Dec-19||ROLTA||Quarterly Results||06-Dec-19|
|INVENTURE||Quarterly Results||05-Dec-19||UNITDCR||Quarterly Results||06-Dec-19|
|Company Name||Ex-Date||Purpose||Company Name||Ex-Date||Purpose|
|MANUGRAPH||04-Dec-19||Dividend – Rs. – 0.50||THOMASCOOK||05-Dec-19||Spin Off|
|BRNL||05-Dec-19||Dividend – Rs. – 0.50||EVANS||10-Dec-19||Interim Dividend – Rs. – 1.00|
|HCLTECH||05-Dec-19||Bonus issue 1:1||TRIDENT||13-Dec-19||Stock Split From Rs.10/- to Rs.1/-|
|HEIDELBERG||05-Dec-19||Interim Dividend – Rs. – 1.50||BOROSIL||18-Dec-19||Dividend – Rs. – 0.6500|
|SAGRSOY-B||05-Dec-19||Reduction of Capital||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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