NIFTY:

The Nifty opened at 14075.15 with a gap down of 57 points. The index made its intraday low at 14048.15 within the first five minutes of trading and then rallied higher. Prices have seen an intraday rally of more than 150 points from its intraday low to intraday high and finally closed at 14199.50 up by 66.60 points. Banks and IT sector have led the rally and closed higher. Metals have underperformed significantly and closed lower by 1.41%.Yesterday we suggested buying  above the first 15 minutes of high with a stop of its first 15 minutes low. The index recorded the first 15 minutes high at 14115 and then broke that high around 11:10AM. We went long at 14115. We have suggested a target of 110 points which was at 14225. The index made its intraday high at 14215.60 just a tad below our target. We are recommending take profits from this trade early morning at the opening price. Nifty continued making lifetime new highs and closed just below 14200. We have anticipated and mentioned it as well in this letter that a sharp move should come in this week. Fortunately markets are obliging us by moving higher in large range days. It was a trend day on the upside where prices have opened near its intraday low and closed near its intraday highs.

The Nifty continued making lifetime new highs and ended at a record level. Every dip is being considered by the traders as an opportunity to buy.

BANK NIFTY:

Bank Nifty opened at 31041.10 with a gap down of 231 points. Prices have recorded its intraday low at 30935.55 within the first five minutes of trading and then rallied for the whole day. Private Banks have significantly outperformed and closed higher by 1.93% while PSU Banks have also closed higher by just 0.09%. Within the index, in terms of points, Axis Bank contributed highest while Kotak the lowest. We had suggested going long in the index above 31500. Prices have broken this level so we are long at 31500. We have been anticipating a large range day this week. Monday as well as yesterday were large range days.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
SBIN 281.75 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 277 and for the target 290.
ZEEL 222.50 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 215 and for the target 235

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
FEDERAL BANK 72 CE BUY 4.80 CMP 3.95 6.40 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
AARTIIND.21.01 Jan 1335.05 3.56 92.41 237150 LALPATHLAB.21.01 Jan 2394.3 -0.74 12.04 90750
MGL.21.01 Jan 1105 1.6 29.35 1684200 SRF.21.01 Jan 5709.95 -0.06 11.77 351250
BANKNIFTY.21.01 Jan 31792.95 1.49 28.55 1887100 COALINDIA.21.01 Jan 135.85 -1.45 10.73 31080000
RBLBANK.21.01 Jan 251.35 4.69 18.79 20958300 SAIL.21.01 Jan 77.5 -2.33 9.29 115121000
NAUKRI.21.01 Jan 5539.9 14.27 18.23 815500 APOLLOTYRE.21.01 Jan 187.35 -0.85 7.96 10040000
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
GODREJPROP.21.01 Jan 1418 0.17 -4.04 1050400 CHOLAFIN.21.01 Jan 437.5 -0.43 -6.51 5022500
COLPAL.21.01 Jan 1603.65 1.21 -3.25 2480100 BALKRISIND.21.01 Jan 1677.05 -0.34 -6.05 1665200
BIOCON.21.01 Jan 469.1 0.22 -2.53 10386800 INDIGO.21.01 Jan 1720.95 -1.33 -1.01 2941500
MRF.21.01 Jan 79250 0.52 -1.58 46770 IDEA.21.01 Jan 11.9 -0.83 -0.93 897120000
ICICIGI.21.01 Jan 1585.5 1.94 -0.9 558875 TATACHEM.21.01 Jan 488.95 -0.52 -0.87 6176000

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Indus Towers Limited 254.2 5.3 15044472 6396461 71.23 Nifty it 25769.15 2.62 83085
Britannia Ind Ltd. 3551.1 -0.05 725278 426961 61.13 Nifty Bank 31722.25 1.63 83085
Icici Lombard General In 1584.25 2.25 776027 332557 56.67 Nifty Media 1686.9 0.67 83085
Hdfc Life Insurance Comp 713.75 2.57 6955494 2739956 54.45 Nifty 50 14199.5 0.47 83085
Icici Prudential Life In 507.5 0.71 2875138 1064508 52.04 Nifty Fmcg 34720.25 0.29 83085
Hdfc Ltd. 2651.85 2.84 5870743 1419319 50.76 Nifty Pharma 13166.35 0.13 83085
Sbi Life Insurance Compa 905.55 -0.64 1209912 491893 47.84 Nifty Auto 9416.05 -0.02 83085
Hdfc Bank Ltd. 1426.7 0.76 7193412 3758410 47.76 Nifty Realty 316.35 -0.35 83085
Petronet Lng Limited 256.4 1.56 9320206 2304835 46.79 Nifty Energy 17070.55 -0.61 83085
Aarti Industries Ltd. 1337.2 4.3 690580 155123 46.63 Nifty Metal 3376.25 -1.41 83085

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UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR:  Nikkei Services PMI (Dec)  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

•Shares of Info Edge India Ltd., which owns 19.3% in Zomato, ended at a record high on Tuesday on reports of the online food delivery platform planning to go public. Zomato is planning to launch an initial public offering in the first half of 2021, Financial Express reported. The company, according to the report, clocked revenue of Rs 2,743 crore in 2019-20, a 100% jump over the year earlier. The company, according to a Dec. 18 exchange filing, has recently closed a primary fundraise of $253.4 million from four different investors Kora Management, Tiger Global Management, D1Capital and Fidelity Management and Research.

•The government is likely to seek expression of interest for strategic divestment of Container Corporation of India by end of the month, as it pushes forward with its disinvestment drive in the ongoing financial year. Potential bidders will be invited for purchasing about 30% stake in the public sector enterprise after the railways ministry brings out policy for land leasing, which has been the key issue holding back the initiation of divestment process.

•Tech Mahindra said its research and development arm, Makers Lab, has collaborated with the College of Military Engineering (CME), Pune to address challenges in the field of defence through technological innovations. CME will leverage the partnership to address critical military problem statements and be future-ready using next-generation technologies of Artificial Intelligence (AI) and Robotics, a statement said.

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
ARCHIDPLY Buy Back of Shares 06-Jan-21 GMBREW Quarterly Results 07-Jan-21
BALUFORGE Quarterly Results 06-Jan-21 INDIANACRY Quarterly Results 07-Jan-21
ISWL General 06-Jan-21 JYOTISTRUC General 07-Jan-21
METALFORGE Quarterly Results 06-Jan-21 OSWALOR Increase in Authorised Capital;General 07-Jan-21
RAYALEMA Issue Of Warrants 06-Jan-21 PANORAMA General 07-Jan-21
REMIPRO Voluntary Delisting of Shares 06-Jan-21 REVATHI Voluntary Delisting of Shares 07-Jan-21
RUBFILA Preferential Issue of shares 06-Jan-21 UTTAMSUGAR Quarterly Results 07-Jan-21
SANINFRA General 06-Jan-21 ALPHA Quarterly Results 08-Jan-21
SPELS Quarterly Results 06-Jan-21 DIANATEA General 08-Jan-21
SUPREMEINF Audited Results;Quarterly Results 06-Jan-21 ICSL Quarterly Results 08-Jan-21
ASIANTNE Quarterly Results 07-Jan-21 LAMBODHARA Preferential Issue of shares 08-Jan-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
STEELXIND 07-Jan-21 E.G.M. ORTINLAABS 12-Jan-21 Reduction of Capital
LPNAVAL 08-Jan-21 E.G.M. COCHINSHIP 13-Jan-21 Interim Dividend – Rs. – 9.0000
RITES 08-Jan-21 Interim Dividend – Rs. – 5.0000 INDTONER 14-Jan-21 Buy Back of Shares
REFEX 11-Jan-21 Interim Dividend – Rs. – 1.0000 INFRATRUST 14-Jan-21 Income Distribution (InvIT)
ORTINLAABS 12-Jan-21 Spin Off SVPGLOB 14-Jan-21 Stock  Split From Rs.10/- to Rs.1/-

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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