NIFTY:
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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