Outlook-2019-12-04

NIFTY:

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.

VIEW:

Buy on a dip towards 11900 with a stop just below 11870.

TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
     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.

DERIVATIVE PICKS

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
Sector Price Price% OI% OI Sector Price Price% OI% OI
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
Sectors Price Change % Quantity
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

   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

•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.

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
DHUNINV Quarterly Results 04-Dec-19 MUNOTHFI General 05-Dec-19
VERTEX General;Quarterly Results 04-Dec-19 ABANSENT Interim Dividend 06-Dec-19
ALLCARGO General 05-Dec-19 CENTRUM Quarterly Results 06-Dec-19
BANKINDIA General 05-Dec-19 COSBOARD General 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
KEI General 05-Dec-19 AGIIL General 07-Dec-19
KHAITANLTD Quarterly Results 05-Dec-19 ALBK General 07-Dec-19
MANPASAND Audited Results 05-Dec-19 CHEMTECH General 07-Dec-19
MAYUKH General 05-Dec-19 HBSTOCK Quarterly Results 07-Dec-19
MIDEASTP General 05-Dec-19 INDOCITY Quarterly Results 07-Dec-19
DHUNINV Quarterly Results 04-Dec-19 MUNOTHFI General 05-Dec-19

Corporate Action

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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