2021-01-04 -OutlookNIFTY:

The Nifty opened at 13996.10 and started moving on the upside. The index recorded its intraday high at 14049.85 around 2:30 PM and then started a sharp decline. Prices have moved down almost 50 points from the intraday highs and finally closed at 14018.50 up by 36.75 points. Auto and Realty continued performing well together with the Pharma sector. Banks and Financials were the only losing sector.

We had suggested a long trade in the index. The idea was to buy the index above 14030. the index opened below 14030 and crossed this level intraday. We had suggested a stop of 60 points and target of 140 points from the entry price. Prices have neither touched these levels so our trade remains intact so far. Stay long with a stop just below 13970 and target around 14170.

The week ended at record levels. The Nifty closed above 14000 for the first time. However the week itself was very narrow. The Nifty started the week with the Narrowest Range in the last 7 days (NR7) on Monday then the next three days were Doji and then again NR7.

The price action suggested that the index is in a process of contraction and the next likely phase should be an expansion. We may see a sharp move this week.

BANK NIFTY:

Bank Nifty opened at 31297.30 with gap up of 60 points. Initially prices moved up and recorded its intraday high at 31384.35. Prices then started moving down and finally closed near its intraday low at 31225.

PSU Banks have significantly outperformed and closed higher by 3.25% while Private Banks have closed lower by 0.32%. Within the index in terms of points SBI Contributed highest while ICICI Bank the lowest.

We had suggested a trade to buy above 31500 or sell short below 31000. The index did not touch either of these levels hence the trade did not execute. Continue this trading opportunity for Monday.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
L&TFH 97 BUY The stock has given a breakout from a narrow trading range. The stock can be bought between 95.50-96 with a stop at 93 and for the target 100.
TATA CONSUMER 601.50 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 590 and for the target 615.

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
LICHSGFIN 370 CE BUY 24 CMP 21 29 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
BHARTIARTL.21.01 Jan 518 1.58 8284.83 98243676 HEROMOTOCO.21.01 Jan 3104.2 -0.18 4109.96 3422700
GRASIM.21.01 Jan 939.25 1.39 8185.9 18419550 KOTAKBANK.21.01 Jan 1989.1 -0.47 2485.28 18407200
EICHERMOT.21.01 Jan 2556.7 1.1 8168.24 2459800 HDFCBANK.21.01 Jan 1430.8 -0.41 1326.71 26208600
PEL.21.01 Jan 1488 4.2 7163.64 4394500 UBL.21.01 Jan 1180.45 -0.58 1320 1441300
SHREECEM.21.01 Jan 24098.75 0.33 7060 161100 BANDHANBNK.21.01 Jan 400.95 -0.09 1317.78 11484000
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Aarti Industries Ltd. 1260.5 2.08 406198 96424 60.17 Nifty Auto 9272.5 0.86 44982662
Tata Consultancy Serv Lt 2928.25 2.29 2681440 2350220 58.16 Nifty it 24456.1 0.84 939349
Hindustan Petroleum Corp 221.25 1.54 4781676 4313534 57.37 Nifty Realty 316.4 0.81 1318885240
Hdfc Bank Ltd. 1425.05 -0.78 4405469 6344868 57.3 Nifty Pharma 13001.95 0.67 32069819
Sbi Life Insurance Compa 895.4 -0.98 798399 635255 56.53 Nifty Fmcg 34391.85 0.63 512019
Power Grid Corporation o 189.5 -0.18 1729475 7277601 55.59 Nifty Media 1658.95 0.61 251121630
Hdfc Life Insurance Comp 678.4 0.28 1264311 1642145 55.48 Nifty Energy 16976.2 0.32 1055629
Hindustan Unilever Ltd 2387.55 -0.33 830096 923575 54.02 Nifty 50 14018.5 0.26 29725094
Infosys Limited 1260.45 0.37 4253550 3974062 53.48 Nifty Metal 3258.85 0.13 127808559
Icici Lombard General In 1519.2 -0.11 172139 212894 52.72 Nifty Bank 31225.85 -0.12 13322355

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UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR:  Nikkei Markit Manufacturing PMI (Dec) on 4th January, 2021

INR:  Nikkei Services PMI (Dec) USD on 6th January, 2021

•USD : Manufacturing PMI (Dec) on 4th January, 2021

•USD : ADP Nonfarm Employment Change on 6th January, 2021

NEWS UPDATES

•TVS Motor Company on Saturday reported a 17.5 per cent increase in total sales to 2,72,084 units in December. The company, which primarily makes two-wheelers and three-wheelers, had sold 2,31,571 units in December 2019, TVS Motor Company said in a statement. The total two-wheeler sales during the month stood at 2,58,239 units as against 2,15,619 in December 2019, up 20 per cent.

•Mahindra & Mahindra Ltd. is in discussions with an investor for selling a majority stake in Ssangyong Motor Co. as India’s largest SUV maker reassesses its investments amid the pandemic. Mahindra will hold 30% or less in Ssangyong if the deal goes through and will also do a 25% capital reduction, Pawan Goenka, managing director of the Indian automaker said at a briefing Friday It expects to sign the term sheet next week and will conclude the transaction by Feb. 28, he said.

•The Securities and Exchange Board of India on Friday imposed penalties on Reliance Industries Ltd., its chairman and managing director, Mukesh Ambani, as well as two other entities for alleged manipulative and fraudulent trading in the shares of erstwhile Reliance Petroleum Ltd. back in November 2007. Fines of Rs 25 crore and Rs 15 crore have been imposed on Reliance Industries Ltd. and Ambani, respectively. Besides, Navi Mumbai SEZ Pvt. Ltd. has been asked to pay a penalty of Rs 20 crore and Mumbai SEZ. Ltd. has been directed to pay Rs 10 crore. Bot the latter companies are promoted by Anand Jain, who once served in the Reliance Group.

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
ALFATRAN General 04-Jan-21 GICRE General 05-Jan-21
COUNCODOS General 04-Jan-21 KREONFIN General 05-Jan-21
DECCAN Half Yearly Results 04-Jan-21 TIPSINDLTD General 05-Jan-21
GNRL General 04-Jan-21 ARCHIDPLY Buy Back of Shares 06-Jan-21
INDRANIB General 04-Jan-21 BALUFORGE Quarterly Results 06-Jan-21
JAYKAY General;Preferential Issue of shares 04-Jan-21 METALFORGE Quarterly Results 06-Jan-21
SHUKRAPHAR General 04-Jan-21 RAYALEMA Issue Of Warrants 06-Jan-21
SKC Quarterly Results 04-Jan-21 RUBFILA Preferential Issue of shares 06-Jan-21
TUNITEX General 04-Jan-21 SANINFRA General 06-Jan-21
VBIND General 04-Jan-21 SPELS Quarterly Results 06-Jan-21
BETALA Quarterly Results 05-Jan-21 SUPREMEINF Audited Results;Quarterly Results 06-Jan-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ANISHAIMPEX 04-Jan-21 E.G.M. STEELXIND 07-Jan-21 E.G.M.
ABANSENT 05-Jan-21 Interim Dividend – Rs. – 0.1000 LPNAVAL 08-Jan-21 E.G.M.
GDL 05-Jan-21 Interim Dividend – Rs. – 2.0000 RITES 08-Jan-21 Interim Dividend – Rs. – 5.0000

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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