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
For Daily Share Market Updates, Daily debt market review, Market Research Analysis reports, Weekly Techno-Funda Report, Fundamental Analysis Report, Monthly Recommended stock Picks, Equity Trading Tips, Upcoming IPO/NFO/Bonds/Ncd’s updates & other related information Subscribe our research plan