2020-01-08-Outlook

NIFTY:

The NIFTY gave away much of today’s gain and ended up with a gain of only 60 points at 12052.95 and formed an indecisiven spinning top on the daily chart. The immidiate support for the NIFTY comes at 11980 and resistance at 12100.

Dont expect strength in the NIFTY unless it close above 12150-12170 zone. For the time being, the index appears to be definding its 50 day moving avarage, whose value is placed around the 11980 level.  The consolidation is expected to continue as long as NIFTY sustain above this level.

VIEW:

Sell on a breakdown below 11970 with a stop just above 12000.

Sell on a rally towards 12100 with a stop just above 12130.

TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
     KOTAKBANK 1670.85 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  1650 and for the target of  1690-1700.
     CASTROLIND 126.95 SELL The immediate trend of the stock is weak . The stock can be sell with a stop loss of  129.30  and for  the target of  120.

 

DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
MANAPPURAM 172.50 PE BUY 4.70 CMP 3.20 11 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
BANKNIFTY.Jan 30 31500 0.44 16.9 1605360 NMDC.Jan 30 128.2 -0.97 11.83 27162000
CANBK.Jan 30 208.5 0.55 12.13 16608800 BPCL.Jan 30 464.8 -1.32 10.23 30909600
RBLBANK.Jan 30 342.8 1.75 8.46 15559500 BIOCON.Jan 30 283.5 -1.55 8.96 11743800
NIITTECH.Jan 30 1652 0.24 8.06 668625 HINDPETRO.Jan 30 244.25 -0.43 8.55 18265800
MINDTREE.Jan 30 839.4 1.94 7.43 1387200 HINDALCO.Jan 30 209.9 -0.12 7.23 41482000
                                                                        Short Covering                                                                            Long unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
AMARAJABAT.Jan 30 727.25 1.2 -3.26 1378400 NIFTYIT.Jan 30 15902 -0.13 -3.12 6200
CADILAHC.Jan 30 258.4 0.98 -3.11 6782600 UJJIVAN.Jan 30 334.5 -0.07 -2.27 7242000
ASHOKLEY.Jan 30 82.25 2.05 -1.73 54576000 IDEA.Jan 30 5.95 -1.65 -0.39 3.74E+08
MFSL.Jan 30 559.25 0.75 -1.24 10704200 YESBANK.Jan 30 42.8 -1.72 -0.05 2.34E+08
NATIONALUM.Jan 30 44 0.46 -1.21 43102800 TATAPOWER.Jan 30 56.8 -0.26 -0.01 73647000

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Pidilite Industries Ltd 1399.7 0.86 863685 567320 71.86 Nifty Media 1735.15 1.04 84306
MRF Ltd. 65334.1 -0.27 10835 7016 67.16 Nifty Midcap 50 4674.65 0.76 84306
HDFC BANK LTD. 1260.6 1.58 7362247 3647637 66.99 Nifty Metal 2785.9 0.73 84306
ITC Ltd. 235.35 0.11 8416741 4934625 64.62 Nifty Pharma 8036.5 0.62 84306
Petronet LNG Limited 270.95 1.54 1945358 977228 63.9 Nifty Bank 31399.4 0.52 84306
Divi s Laboratories Limi 1843.9 0.3 302472 311924 62.38 Nifty 50 12052.95 0.5 84303
THE RAMCO CEMENTS 788.7 5.01 1962483 304098 62.07 Nifty Auto 8002.5 0.3 84306
ICICI BANK LTD. 522.9 -0.53 16101835 7567496 60.37 Nifty FMCG 29861.8 0.21 84306
Tata Chemicals Ltd. 666.3 0.99 610745 240617 58.63 Nifty IT 15895.2 0.1 84306
MARICO LIMITED 332.65 0.27 1434983 1061525 58.56 INDIA VIX 14.61 -1.15 84306

Upcoming Economic Data

   Domestic                                                                                                                                                  International
•INR:  Industrial Production on  (YoY)  (Nov)  on 10th January 2020

•INR:  Manufacturing Output (MoM) (Nov)  on 10th January 2020

•USA: ADP Nonfarm Payroll Employment Change (Dec) on 8th January 2020

•USA: Crude Oil Inventories  on 8th January 2020

News Updates

•The Supreme Court (SC) has directed the Department of Telecom (DoT) to refund the bank guarantee worth Rs 104 crore to Anil Ambani’s RCom, junking the DoT’s plea to block the return of the amount. This amount is the balance of the bank guarantee for spectrum, to be paid to RCom by the Centre.

•JK Tyre and Industries plans to reduce debt by 50 percent over three years, supported by cost-cutting initiatives and a potential increase in replacement market business and exports. Company CFO Sanjeev Aggarwal who stated the company was pare its Rs 5,000-crore debt down by more than half in the coming three years with a series of cost-cutting initiatives and expected improvement in capacity utilisation.

•Motilal Oswal has come out with its Third quarter (October-December’ 19) earnings estimates for Wipro. The brokerage house expects Wipro to report net profit at Rs. 2,482.3 crore down 3.1% quarter-on-quarter (down 2.4% year-on-year).Net Sales are expected to increase by 3.8 percent Q-o-Q (up 4.2 percent Y-o-Y) to Rs. 15,693.3 crore.

•Shares of HDFC Bank gained 2.5 percent intraday on January 7 following strong loan and deposits growth in the quarter ended December 2019. It registered around 20 percent growth in advances during the quarter YoY. Advances aggregated to approximately Rs 9.3 lakh crore as of December 2019, against Rs 7.81 lakh crore as of December 2018.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ALPHA Quarterly Results 08-Jan-20 EMERALL Preferential Issue of shares 09-Jan-20
HELPAGE General 08-Jan-20 FINKURVE Preferential Issue of shares 09-Jan-20
INDITALIA General 08-Jan-20 GTPL Quarterly Results 09-Jan-20
INDSILHYD Dividend on Preference Shares 08-Jan-20 VISVEN General 09-Jan-20
INDSWFTLAB General 08-Jan-20 AJMERA General 10-Jan-20
NETWORK Quarterly Results 08-Jan-20 ALEXANDER Interim Dividend;General 10-Jan-20
ASTERDM Buy Back of Shares 09-Jan-20 EMAMIREAL General 10-Jan-20
BRIJLEAS Quarterly Results 09-Jan-20 ICSL Quarterly Results 10-Jan-20
CHANDNI General 09-Jan-20 INDIANACRY Quarterly Results 10-Jan-20
CHANDNIMACH General 09-Jan-20 INFOMEDIA Quarterly Results 10-Jan-20
COVIDH General 09-Jan-20 INFY Quarterly Results 10-Jan-20
EMAMIPAP Quarterly Results 09-Jan-20 KORE Quarterly Results 10-Jan-20

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
RITES 09-Jan-20 Interim Dividend – Rs. – 6.0000 INFRATRUST 14-Jan-20 Income Distribution (InvIT)
SWADPOL 09-Jan-20 Stock  Split From Rs.10/- to Rs.1/- SIS 15-Jan-20 Stock  Split From Rs.10/- to Rs.5/-

 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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