2021-01-07 -OutlookNIFTY:

The Nifty opened at 14240.95 with a gap up of 41 points. The index made its intraday high at 14244.15 within the first five minutes of trading and then started moving down. Prices have seen an intraday decline of  more than 200 points from its intraday highs to its intraday low which was recorded at 14039.90. However, in the last hour of trading, the index saw some recovery and finally closed at 14146.25 down by 53.25 points. Banks and Metal sectors have outperformed and closed with gains while FMCG and IT sectors have underperformed significantly and closed lower by more than 1%.

We had taken a long trade around 14115 daybefore and we had suggested to book profits at yesterdays opening price. The index opened and settled around 14230.So our trade was closed there with a gain of 115 points. The Nifty ended marginally lower in a volatile trading session, taking a breather after the recent surge.

In the last 11 trading days, the index has rallied has more than 1000 points without any correction or consolidation. However it shows us the strength of trend but still prices can not move in a straight line. They correct and consolidate as well within an on going trend. The index continued making lifetime new highs but also saw some profit booking at higher levels. Since the trend is still up so we should look only for buying on any dips.

BANK NIFTY:

Bank Nifty opened at 31839.95 with a gap up of 129 points. Prices have traded very narrow initially and then saw a sharp upside move. The index made its intraday high at 31982.30 and then saw a sharp fall to record its intraday low at 31548.15. The index finally closed at 31797. Private Banks have outperformed and closed higher by 0.19% while PSU Banks have closed lower by 0.32%. Within the index, in terms of points ICICI Bank contributed highest while Axis Bank the lowest. We were long in the index from 31500 with a stop just below 31100 and target of 32400. Prices have neither met the stop or target so our trade remains intact.

Trade AnyTime AnyWhere With Elite Empower Mobile App

Elite-Empower-App-Promotional-Banner-img1

TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
BHARTI AIRTEL 525.30 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 517 and for the target 540.
AMBUJA CEMENT 261.10 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 257 and for the target 270.

Get All Your Mutual Fund Portfolio Retuns on Your Mobile by Elite Kuber App


Elite-Kuber-Mutual-Fund-Promotional-Banner-img

DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
INDUSINDBK 920 CE BUY 51 CMP 42 68 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
BATAINDIA.21.01 Jan 1668 3.36 31.24 1331000 AARTIIND.21.01 Jan 1298.65 -3.37 22.59 313650
HDFCAMC.21.01 Jan 3116 0.35 28.42 225000 NAUKRI.21.01 Jan 5282 -4.03 21.4 933250
GODREJPROP.21.01 Jan 1465.25 3.59 18.31 1230450 LUPIN.21.01 Jan 1005.65 -3.47 13.45 8562900
SRTRANSFIN.21.01 Jan 1193 6.59 17.48 4768000 LALPATHLAB.21.01 Jan 2365.8 -1.19 12.15 101500
RAMCOCEM.21.01 Jan 805.8 1.02 16.15 2182800 COFORGE.21.01 Jan 2803 -3.09 11.78 441375
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
PVR.21.01 Jan 1420.7 2.41 -6.27 1564508 SAIL.21.01 Jan 76 -2.56 -7.91 101308000
ICICIPRULI.21.01 Jan 512.2 0.49 -5.21 4363500 CANBK.21.01 Jan 132.5 -2.61 -7.9 42330600
KOTAKBANK.21.01 Jan 1974.5 0.57 -4.38 17936800 SIEMENS.21.01 Jan 1610.4 -0.27 -4.93 838750
IGL.21.01 Jan 543.95 4.21 -3.88 7128000 ZEEL.21.01 Jan 221.4 -0.85 -4.89 30144000
TATASTEEL.21.01 Jan 686.95 0.7 -2.88 36895100 SUNTV.21.01 Jan 488.35 -1.14 -3.85 9994500

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Britannia Ind Ltd. 3539.7 -0.32 1099588 479432 66.1 Nifty Metal 3419.8 1.29 89931
Icici Lombard General In 1611.7 1.73 1321608 507917 65.45 Nifty Realty 318.6 0.71 89931
Lalpathlab 2352 -1.43 182407 167596 57.06 Nifty Media 1691.1 0.25 89931
Max Financial Services l 709.4 1.13 1966993 880881 56.91 Nifty Bank 31797.9 0.24 89931
Hdfc Life Insurance Comp 719.05 0.74 3582162 3855013 55.42 Nifty Energy 17097.85 0.16 89931
Bharti Airtel Limited 525.3 2.2 30269288 5647859 53.83 Nifty Pharma 13118.1 -0.37 89931
Hdfc Ltd. 2638.85 -0.49 3401085 3136561 53.43 Nifty 50 14146.25 -0.38 89931
Power Grid Corporation o 196.15 4.34 30524202 3114074 52.83 Nifty Auto 9379.55 -0.39 89931
Hindustan Unilever Ltd 2417.3 -1.36 1641627 1202759 51.04 Nifty Fmcg 34327.35 -1.13 89931
Reliance Industries Ltd 1914.25 -2.64 21414270 5208047 46.78 Nifty it 25419.15 -1.36 89931

Get Stock Market Recommendation By Our Research Analysts

Market-Research-Promotional-Banner-img5

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR:  Federal Fiscal Deficit  on 8th 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

•The government will conduct auction for radiowaves worth ₹3.92 lakh crore on 1 March, the department of telecommunications (DoT) said in a notice on Wednesday. It will carry out single auction to assign spectrum blocks in the 700MHz (megahertz), 800MHz, 900MHz, 1,800MHz, 2,100MHz, 2,300MHz and 2,500MHz bands, the notice said.

•The domestic steel industry is seeking reduction in basic customs duty on key raw materials like anthracite coal, metallurgical coke, coking coal, and graphite electrode in the upcoming Budget. The non-availability of these items in good quality and quantity hinders the growth of the steel industry.

•IDFC First Bank on Wednesday provided an update for the quarter ended December, 2020. Retail deposits of the Bank increased 100% Y-o-Y and 18% Q-o-Q.

•JK Tyre will supply its UX Royale radial tyres to Hyundai Motor India for the top-end variants of South Korean car maker’s compact SUV Creta under an exclusive partnership, according to a statement released on Wednesday. The tyre is capable of giving superior ride comfort with crisp handling and low noise even at all speeds.

•Riding on the back of festive sales and pent up demand, jewellery-to-watches maker Titan, which had seen a washout of sales in the first quarter of FY21 because of lockdown disruptions, has moved much closer to growth. While the jewellery division has crossed the recovery phase to growth phase, watches and eyewear divisions have also moved much closer to the full recovery.

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

Open Your Demat Account to Invest in Upcoming IPO’sDemat-and-Trading-Account-Promotion-Banner

BOARD MEETING

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ASIANTNE Quarterly Results 07-Jan-21 LAMBODHARA Preferential Issue of shares 08-Jan-21
GMBREW Quarterly Results 07-Jan-21 LORDSHOTL General 08-Jan-21
INDIANACRY Quarterly Results 07-Jan-21 MAHACORP Scheme of Arrangement 08-Jan-21
JYOTISTRUC General 07-Jan-21 RADIXIND Quarterly Results 08-Jan-21
OSWALOR Increase in Authorised Capital 07-Jan-21 SHALBY Quarterly Results 08-Jan-21
PANORAMA General 07-Jan-21 TCS Interim Dividend;Quarterly Results 08-Jan-21
REVATHI Voluntary Delisting of Shares 07-Jan-21 URJAGLOBA Right Issue of Equity Shares 08-Jan-21
UTTAMSUGAR Quarterly Results 07-Jan-21 ASHFL ESOP;Interim Dividend;General;Results 09-Jan-21
ALPHA Quarterly Results 08-Jan-21 BCLIL General 09-Jan-21
DIANATEA General 08-Jan-21 CELLA General 09-Jan-21
ICSL Quarterly Results 08-Jan-21 CHDCHEM Quarterly Results 09-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 Spin Off
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 Reduction of Capital 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


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