NIFTY:
A gap up of 28 points today did not sustain and the NIFTY closed lower by 24.80 points at 12018.40. Intraday session was very volatile today as prices have moved in both directions.
Among sectors, except IT and FMCG all other indices ended in the red led by the METAL, PHARMA, AUTO and ENERGY. Today, the Reserve Bank Of India (RBI) left the repo rate unchanged in its December policy review while maintaining the accommodative stance. The GDP growth target for 2019-20 is revised downward from 6.1% to 5%.
The larger picture remains of the NIFTY inside a trading range. Support for the NIFTY comes at 11883 and resistance at 12158. This range is continuing since mid-November. This is a process of consolidation. Trading inside a consolidation is very painful and tedious as there is no clear sense of direction. Positional or swing traders can get a trading opportunity when this range breaks in either direction. So we should wait for a breakout.
TECHNICAL PICKS
| COMPANY | CMP | B/S | RATIONALE |
| BRITANNIA | 3085 | 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 3050 and for the target of 3145. |
| CADILAHC | 257.65 | SELL | The immediate trend of the stock is weak . The stock can be sell with a stop loss of 260.60 and for the target of 251. |
DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| INFY | 720 CE | BUY | 13.80 | CMP | 10.50 | 20 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| TATAELXSI.Dec 26 | 867.85 | 6.88 | 43.07 | 1357200 | IGL.Dec 26 | 402.25 | -2.81 | 23.69 | 6663250 | |
| EQUITAS.Dec 26 | 113.2 | 6.39 | 28.28 | 18236000 | INDIGO.Dec 26 | 1327 | -6.12 | 17.44 | 3325500 | |
| JUSTDIAL.Dec 26 | 577.9 | 2.17 | 14.05 | 2693600 | GODREJCP.Dec 26 | 672 | -3.97 | 12.09 | 4577600 | |
| BALKRISIND.Dec 26 | 940.15 | 1.59 | 13.09 | 1942400 | JINDALSTEL.Dec 26 | 137.9 | -10.54 | 11.89 | 35017600 | |
| DISHTV.Dec 26 | 14.6 | 2.1 | 12.56 | 112672000 | L&TFH.Dec 26 | 115.5 | -3.39 | 10.31 | 22878000 | |
| Short Covering | Long unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| NIFTYIT.Dec 26 | 15425 | 1.07 | -18.69 | 8050 | NMDC.Dec 26 | 109.7 | -3.52 | -5.12 | 17250000 | |
| ZEEL.Dec 26 | 299.2 | 5.72 | -3.01 | 30895800 | VOLTAS.Dec 26 | 696.5 | -0.13 | -4.73 | 3099000 | |
| TORNTPOWER.Dec 26 | 277.6 | 0.27 | -2.99 | 4569000 | CESC.Dec 26 | 738.6 | -0.47 | -4.06 | 1247200 | |
| MUTHOOTFIN.Dec 26 | 695.5 | 3.23 | -2.08 | 4315500 | IDEA.Dec 26 | 7.25 | -6.45 | -2.15 | 5.5E+08 | |
| DABUR.Dec 26 | 466.95 | 1.5 | -1.31 | 12470000 | MOTHERSUMI.Dec 26 | 131.85 | -1.35 | -1.74 | 27320700 | |
Top Delivery Percentage
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| ITC Ltd. | 246.95 | 1.56 | 11265541 | 9077395 | 75.98 | INDIA VIX | 14.3 | 7.39 | 75489 | |
| HCL Technologies Ltd. | 560.9 | -0.33 | 2683744 | 4323734 | 73.24 | Nifty Media | 1850.65 | 2.95 | 75492 | |
| Larsen & Toubro Limited | 1302.2 | 1.33 | 6644305 | 7095660 | 69.36 | Nifty IT | 15367.5 | 1.27 | 75489 | |
| Power Grid Corporation o | 187.3 | -0.58 | 2570583 | 3998857 | 68.95 | Nifty FMCG | 30795.1 | 0.29 | 75492 | |
| Ambuja Cements Ltd | 201.2 | -2.07 | 2482546 | 3127231 | 67.8 | Nifty 50 | 12018.4 | -0.21 | 75489 | |
| Hindustan Unilever Ltd | 2037.45 | -0.52 | 961085 | 689813 | 65.93 | Nifty Energy | 15930.1 | -0.63 | 75492 | |
| TECH MAHINDRA LIMITED | 764.9 | 0.8 | 2475102 | 1163058 | 62.16 | Nifty Auto | 7941.8 | -0.68 | 75492 | |
| TATA CONSULTANCY SERV LT | 2121.3 | 2.06 | 3902674 | 2056925 | 61.69 | Nifty Bank | 31712.95 | -0.83 | 75489 | |
| Dabur India Ltd. | 466.1 | 1.81 | 2047966 | 2011224 | 61.61 | Nifty Pharma | 8051.85 | -0.86 | 75492 | |
| HDFC BANK LTD. | 1245.6 | -0.48 | 6386205 | 3431195 | 60.22 | Nifty Metal | 2543.95 | -2.31 | 75492 | |
Upcoming Economic Data
| Domestic International | |
| •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
•Contrary to the expectations of a 25 basis point cut, the Reserve Bank of India’s Monetary Policy Committee (MPC) sprung a surprise on Thursday by keeping the key policy rates unchanged at 5.15 per cent but reduced its GDP forecast for the financial year 2020 to 5 per cent from 6.1 per cent earlier. The MPC also accepted that economic growth has weakened further and output gap remains “negative”.
•Shares of Force Motors gained 4 percent intraday on December 5 after the company reported healthy growth in November sales. The Pune-based company sold 2,112 units in November 2019, higher by 41.8 percent YoY. In November 2018, it had sold 1,489 units. Domestic sales for the month stood at 1,936 units and exports at 176 units, which were significantly higher compared to 1,477 units sold in the same month last year and 12 units exported, respectively.
•Shares of State Bank of India (SBI) traded lackluster on BSE on December 5, a day after the company said it will divest an 8.25 percent in the proposed initial public offering (IPO) of UTI Asset Management Company (AMC).
•HDFC Asset Management Company share price declined 4.7 percent intraday on December 5 after the company said it will use a greenshoe option for sale of additional 0.86 percent stake via offer for sale (OFS).
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| ABANSENT | Interim Dividend | 06-Dec-19 | CHEMTECH | General | 07-Dec-19 |
| CENTRUM | Quarterly Results | 06-Dec-19 | HBSTOCK | Quarterly Results | 07-Dec-19 |
| COSBOARD | General | 06-Dec-19 | INDOCITY | Quarterly Results | 07-Dec-19 |
| EKAMLEA | Quarterly Results | 06-Dec-19 | LINCOPH | Amalgamation;General | 07-Dec-19 |
| IRB | General | 06-Dec-19 | NAVBLDR | General | 07-Dec-19 |
| PSB | General | 06-Dec-19 | SHAILJA | General | 07-Dec-19 |
| ROLTA | Quarterly Results | 06-Dec-19 | SHUKRAPHAR | General | 07-Dec-19 |
| SSPNFIN | Bonus issue | 06-Dec-19 | UNITECH | Quarterly Results | 07-Dec-19 |
| UNITDCR | Quarterly Results | 06-Dec-19 | JAGRAN | Buy Back of Shares | 09-Dec-19 |
| AGIIL | General | 07-Dec-19 | KJMCCORP | Quarterly Results | 09-Dec-19 |
| ALBK | General | 07-Dec-19 | KJMCFIN | Quarterly Results | 09-Dec-19 |
| ARSHIYA | General;Preferential Issue of shares | 07-Dec-19 | ORACLECR | Quarterly Results | 09-Dec-19 |
| ABANSENT | Interim Dividend | 06-Dec-19 | CHEMTECH | General | 07-Dec-19 |
Corporate Action
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| EVANS | 10-Dec-19 | Interim Dividend – Rs. – 1.0000 | TRIDENT | 13-Dec-19 | Stock Split From Rs.10/- to Rs.1/- |
| NESTLEIND | 10-Dec-19 | Interim Dividend – Rs. – 55.0000 | BOROSIL | 18-Dec-19 | Dividend – Rs. – 0.6500 |
| PIRPHYTO | 11-Dec-19 | Amalgamation | 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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