2021-01-05-OutlookNIFTY:

The Nifty opened at 14104.35 with a gap up of 86 points. Initially, prices went down, filled the gap, and recorded its intraday low at 13953.75. After a decline of almost 150 points, around 11:00 AM, prices have begun to rise. The index rallied almost 200 points from its intraday lows. The index recorded its intraday high of 14147.95 and finally settled near to this high at 14132.90 up by 114.40 points. All the sectoral indices have closed with gains except banks.

We were long in the index from 14030 with a stop just below 13970 and target around 14170. The index opened in our favour with a gap up, but suddenly fell down. Unfortunately, that sharp decline hit the stop loss an we closed the trade with a loss of 60 points.

For today, we should get into a long position again. The idea is to buy above the first 15 minutes high with a stop of its 15 minutes low. Keep a modest target of 110 points. Incase of a gap up of more than 80 points, avoid this trade.

We had mentioned yesterday that a sharp move is about to come. The index traded in a large range and moved very volatile. This large and volatile movement is likely to continue for the next few days.

BANK NIFTY:

Bank Nifty opened at 31458.15 with a gap up of 274 points. Prices did not hold the gains and saw a sharp intraday decline. Around 11:00 AM the index started moving higher and finally closed at 31212.

PSU Banks have significantly outperformed and closed higher by 1/11% while Private Banks have closed lower just by 0.9%. Within the index, in terms of points, ICICI Bank contributed highest while Kotak Bank the lowest.

Last Thursday and Friday were narrow range days and we were expecting a large range day. The trend is still up and we should look to buy above the resistance of 31500 or on dips.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
RELIANCE 1990.85 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 1973 and for the target 2020.
LICHSGFIN 381.70 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 375 and for the target 395.

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
CIPLA 830 CE BUY 33.20 CMP 27 41 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
PNB.21.01 Jan 35.9 2.57 29.78 120544000 HEROMOTOCO.21.01 Jan 3052.1 -1.68 14.77 3928200
AMARAJABAT.21.01 Jan 966.5 4.4 27.33 1733000 BANDHANBNK.21.01 Jan 398.15 -0.7 13.95 13086000
CHOLAFIN.21.01 Jan 438.45 6.36 18.84 6070000 ZEEL.21.01 Jan 220.4 -2.48 13.51 32358000
RBLBANK.21.01 Jan 239.2 3.3 15.72 17739300 NTPC.21.01 Jan 99.35 -0.25 11.56 55939800
GAIL.21.01 Jan 128.7 3.87 14.83 30554900 BRITANNIA.21.01 Jan 3584 -0.15 9.24 2571400
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
APOLLOTYRE.21.01 Jan 188.75 4.31 -5.97 9535000 IBULHSGFIN.21.01 Jan 221.6 -0.67 -3.74 30556700
ESCORTS.21.01 Jan 1318.5 1.78 -4.91 3463900 JUBLFOOD.21.01 Jan 2766.45 -1.25 -0.6 1407500
IDEA.21.01 Jan 11.9 5.31 -4.19 908250000
TATACHEM.21.01 Jan 492.4 2 -3.63 6420000
LICHSGFIN.21.01 Jan 383.65 1.19 -2.9 6686000

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Max Financial Services l 689.3 -0.24 1100430 96424 42.87 Nifty Metal 3424.6 5.09 85917
Hindustan Petroleum Corp 222.75 0.68 6574551 2350220 42.82 Nifty it 25110.05 2.67 85917
Britannia Ind Ltd. 3552.9 -0.42 698402 4313534 41.76 Nifty Auto 9417.95 1.57 85917
Power Finance Corporatio 118.55 3.04 5623411 6344868 41.08 Nifty Energy 17176.15 1.18 85917
Nmdc Limited 122.4 5.2 20098842 635255 40.52 Nifty Pharma 13149.8 1.14 85917
Icici Lombard General In 1549.45 1.99 586835 7277601 37.51 Nifty Media 1675.6 1 85917
Mahanagar Gas Limited 1083.35 2.21 617427 1642145 37.49 Nifty 50 14132.9 0.82 85917
Petronet Lng Limited 252.45 1.04 4925674 923575 36.92 Nifty Fmcg 34619.7 0.66 85917
Idfc First Bank Limited 38.6 3.21 48722834 3974062 36.5 Nifty Realty 317.45 0.33 85917
Coalindia 137.25 1.4 11669647 212894 35.11 Nifty Bank 31212.45 -0.04 85917

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UPCOMING ECONOMIC DATA

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

INR:  Industrial Production (YoY) (Nov) on 10th January, 2021

•USD : ISM Non-Manufacturing PMI (Dec) on 7th January, 2021

•USD : Trade Balance (Nov) on 7th January, 2021

NEWS UPDATES

•Marico’s India business grew in double digits by volume and revenue in the quarter ended December. According to its fling: Parachute coconut oil delivered growth ahead of its medium-term aspiration. Saffola edible oils delivered double-digit volume growth. Value-added hair oils also witnessed a double-digit volume growth. Foods portfolio continued to see exponential growth. As key raw material prices rose during the quarter, Marico cut back some promotions and increased prices of Parachute and Saffola portfolios.

•L&T Hydrocarbon Engineering (LTHE) on Monday said it has bagged an over to ₹7,000 crore order from HPCL Rajasthan Refinery Ltd (HRRL), a joint venture between Hindustan Petroleum Corporation (HPCL) and Government of Rajasthan, for setting up a dual feed cracker unit.

•Tata Motors on Monday announced its partnership with Karnataka Bank to facilitate retail finance solutions for its customers to boost sales. Under this collaboration, customers can avail up to 85 per cent loans on the on-road pricing of a Tata Motors vehicle with an interest rate linked to External Benchmark Lending Rate (EBLR), which will be updated on the bank’s website periodically, Tata Motors said in a release.

•Jindal Steel and Power Ltd (JSPL) on Monday posted a record 30 per cent jump in its standalone production and 25 per cent growth in sales during December 2020. The company’s total production from its plants in India was at 7.27 lakh tonne (LT) in December, up from 5.59 LT during the same month in 2019.

Source: Economic Times,  Moneycontrol  ,Business Today, Livemint, Business Standard, Bloomberg Quint

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BOARD MEETING

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
BETALA Quarterly Results 05-Jan-21 SUPREMEINF Audited Results;Quarterly Results 06-Jan-21
GICRE General 05-Jan-21 ASIANTNE Quarterly Results 07-Jan-21
KREONFIN General 05-Jan-21 GMBREW Quarterly Results 07-Jan-21
TIPSINDLTD General 05-Jan-21 INDIANACRY Quarterly Results 07-Jan-21
ARCHIDPLY Buy Back of Shares 06-Jan-21 JYOTISTRUC General 07-Jan-21
BALUFORGE Quarterly Results 06-Jan-21 OSWALOR Increase in Authorised Capital;General 07-Jan-21
METALFORGE Quarterly Results 06-Jan-21 PANORAMA General 07-Jan-21
RAYALEMA Issue Of Warrants 06-Jan-21 UTTAMSUGAR Quarterly Results 07-Jan-21
RUBFILA Preferential Issue of shares 06-Jan-21 ALPHA Quarterly Results 08-Jan-21
SANINFRA General 06-Jan-21 ICSL Quarterly Results 08-Jan-21
SPELS Quarterly Results 06-Jan-21 LAMBODHARA Preferential Issue of shares 08-Jan-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ABANSENT 05-Jan-21 Interim Dividend – Rs. – 0.1000 REFEX 11-Jan-21 Interim Dividend – Rs. – 1.0000
GDL 05-Jan-21 Interim Dividend – Rs. – 2.0000 INDTONER 14-Jan-21 Buy Back of Shares
STEELXIND 07-Jan-21 E.G.M. SVPGLOB 14-Jan-21 Stock  Split From Rs.10/- to Rs.1/-
LPNAVAL 08-Jan-21 E.G.M. TCS 14-Jan-21 Interim Dividend
RITES 08-Jan-21 Interim Dividend – Rs. – 5.0000 HCLTECH 21-Jan-21 Interim Dividend

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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