Outlook-2019-12-05

NIFTY:

The NIFTY opened with a gap down. Prices first move up and then saw a sharp decline towards the support near 11950. Index find support there and saw a sharp rally of more then 100 points. Prices closed higher at 12043.20 with a gain of 49 points.

The larger picture remains of the NIFTY in a trading range. Support for 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.

Today’s rally brought prices middle of this range. Tomorrow we may see higher volatility as RBI policy meet is scheduled.

VIEW:

Buy on a breakout above 12070 with a stop just below 12050.

Sell on a breakdown below 12020 with a stop just above 12050.

TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
     TATAELXSI 812 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  799 and for the target of  835.
     ESCORTS 611.24 SELL The immediate trend of the stock is weak . The stock can be sell with a stop loss of  621.50 and for  the target of  590.

DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
SBIN 340 CE BUY 12.55 CMP 9.50 16.50 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
EQUITAS.Dec 26 106.6 3.5 19.31 14708000 LT.Dec 26 1291 -2.24 17.31 18769500
MINDTREE.Dec 26 749.6 4.15 16.34 1448400 ESCORTS.Dec 26 615.8 -1.69 16.94 5747500
NMDC.Dec 26 113.65 4.55 15.45 21966000 HINDPETRO.Dec 26 271.2 -1.36 9.03 24103800
UJJIVAN.Dec 26 350.7 3.91 15.39 7940800 GODREJCP.Dec 26 700.5 -2.57 7.75 4284000
DISHTV.Dec 26 14.45 16.53 15.01 1.03E+08 AMARAJABAT.Dec 26 745.8 -0.34 7.36 1388800
                                                                        Short Covering                                                                            Long unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
NIFTYIT.Dec 26 15281 1.41 -10 9900 TORNTPHARM.Dec 26 1882 -2.05 -10.38 332500
YESBANK.Dec 26 61.4 9.35 -7.7 2.21E+08 PVR.Dec 26 1795.05 -0.99 -2.27 1345600
HEXAWARE.Dec 26 339.5 3.41 -4.62 1362000 BATAINDIA.Dec 26 1680.8 -0.09 -1.85 1929950
APOLLOTYRE.Dec 26 170.95 2.89 -4.49 8163000 BAJAJ-AUTO.Dec 26 3260 -0.26 -0.71 2447750
BIOCON.Dec 26 288.15 1.11 -2.63 10733400 SRF.Dec 26 3207.4 -0.44 -0.31 810750

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
HCL Technologies Ltd. 1125.5 0.08 2951568 1347714 75.55 Nifty IT 15175.15 1.71 85728
Power Grid Corporation o 188.4 -0.53 5800026 2969064 70.84 Nifty Metal 2604 1.55 85728
HDFC BANK LTD. 1251.65 -0.3 5697807 2455214 70.23 Nifty Bank 31979.3 1.16 85728
Dabur India Ltd. 457.8 1.5 3264668 1762566 67.77 Nifty Pharma 8121.5 0.95 85731
NTPC Limited 114.8 0.22 4444594 4397713 66.49 Nifty Media 1797.6 0.8 85728
MARICO LIMITED 352 1.06 917241 1235572 65.77 Nifty Auto 7996.55 0.41 85728
Hindustan Unilever Ltd 2048 0.96 1046309 783823 65.37 Nifty 50 12043.2 0.41 85722
CHOLAMANDALAM 301.65 -0.12 999110 1427382 65.34 Nifty FMCG 30705.55 0.09 85731
Dr. Reddys Lab Ltd 2877.85 0.68 476162 242650 63.63 Nifty Energy 16031.5 -0.5 85731
NESTLEIND 14306.25 -0.33 55888 34096 62.14 INDIA VIX 13.32 -8.5 85731

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
•INR:  Interest Rate Decision on 5th  December 2019

•INR:  FX Reserves, USD on 6th December 2019

•USA: Unemployment Rate on 6th  December 2019

•USA: Nonfarm Payrolls  (Nov)  on 6th December 2019

NEWS UPDATES

•CSB Bank, formerly Catholic Syrian Bank, made a strong debut on markets on December 4, with the share price rallying 57.4 percent over the issue price of Rs 195 on the listing day.The bumper listing was along expected lines, said experts, citing overwhelming response to the Rs 410-crore public issue that was oversubscribed 87 times and the new strong promoter, which infused capital that helped the company improve earnings performance in 2019.

•The Modi government on Wednesday cleared the launch of India’s first bond ETF in a bid to deepen the bond market and bring in retail participation in this space. The Union Cabinet cleared the Bharat Bond Exchange Traded Fund, which will be managed by Edelweiss Asset Management. It will be the first corporate bond ETF, which will provide additional money for PSUs as well as other government organizations.

•Wipro Ltd is all set to expand its presence in Australia’s Victoria state by establishing a 1.5 million dollar state-of-the-art Cyber Defence Centre. The new centre in South Melbourne will offer protection from cyber-attacks to the organizations and will generate 100 new tech jobs for locals.

•Tata Motors on Wednesday said it will increase prices of its passenger vehicles from January, primarily in order to offset impact of upgrading its portfolio to conform to BSVI emission norms. The company currently sells products ranging from hatchback Tiago to SUV Harrier, priced between Rs 4.39 lakh and Rs 16.85 lakh.

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ALLCARGO General 05-Dec-19 ABANSENT Interim Dividend 06-Dec-19
BANKINDIA General 05-Dec-19 CENTRUM Quarterly Results 06-Dec-19
CEEJAY Quarterly Results 05-Dec-19 COSBOARD General 06-Dec-19
GATI Preferential Issue of shares 05-Dec-19 EKAMLEA Quarterly Results 06-Dec-19
INVENTURE Quarterly Results 05-Dec-19 IRB General 06-Dec-19
KEI General 05-Dec-19 PSB General 06-Dec-19
KHAITANLTD Quarterly Results 05-Dec-19 ROLTA Quarterly Results 06-Dec-19
MANPASAND Audited Results 05-Dec-19 SSPNFIN Bonus issue 06-Dec-19
MAYUKH General 05-Dec-19 UNITDCR Quarterly Results 06-Dec-19
MIDEASTP General 05-Dec-19 AGIIL General 07-Dec-19
MOSCHIP A.G.M.;Audited Results 05-Dec-19 ALBK General 07-Dec-19
MUNOTHFI General 05-Dec-19 CHEMTECH General 07-Dec-19
ALLCARGO General 05-Dec-19 ABANSENT Interim Dividend 06-Dec-19

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
BRNL 05-Dec-19 Dividend – Rs. – 0.50 NESTLEIND 10-Dec-19 Interim Dividend – Rs. – 55.00
HCLTECH 05-Dec-19 Bonus issue 1:1 PIRPHYTO 11-Dec-19 Amalgamation
HEIDELBERG 05-Dec-19 Interim Dividend – Rs. – 1.50 TRIDENT 13-Dec-19 Stock  Split From Rs.10/- to Rs.1/-
SAGRSOY-B 05-Dec-19 Reduction of Capital BOROSIL 18-Dec-19 Dividend – Rs. – 0.65
THOMASCOOK 05-Dec-19 Spin Off 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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