NIFTY:
The Nifty opened at 13264.85 without much of a gap. Prices first moved up for the first 30 minutes of trading and then spent the next hour trading narrow and sideways. Another up move came around 12:00 PM for the 60 points and then prices saw a sharp dip. However that dip did not last long and prices have seen another leg of an up move which lasted towards the end of the day’s trading session. Prices finally closed at 13375.55 up by 97.20 points. The Media, FMCG and Pharma index have outperformed while Realty, Metal and Auto sectors have underperformed.
The Nifty began the week gains and continued making lifetime new high and ended at fresh record closing highs supported by news of progress in the Covid vaccine and positive global cues.
The last two days Friday and Monday were the trading days. It is possible that we may see a choppy and narrow price action for the next one or two days.
BANK NIFTY:
Bank Nifty opened at 30062.60 with a gap down of 76 points. Prices first traded sideways and then saw a sharp surge and then again traded sideways. The index finally closed at 30211 with a gain of more than 50 points.
PSU Banks have performed well and closed higher by 2.12% while Private Banks also closed higher by 0.45%. Within the index, in terms of points, ICICI Bank contributed highest while HDFC Bank the lowest.
We were long in the from 29900 with a stop at 29500 and target of 30900. Prices have neither touched the stop or the target so our long position remained intact.
The index traded very narrow and choppy within a range of just 404 points. This is normal as the narrow movement came after a large range day on Friday.
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TECHNICAL PICKS
| COMPANY | CMP | B/S | RATIONALE |
| SBIN | 269.60 | BUY | The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 260 and for the target 280. |
| MFSL | 648.70 | BUY | The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 635 and for the target 680 |
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DERIVATIVE PICKS
| STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| IGL | 480 CE | BUY | 22 | CMP | 18 | 30 | OI increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| GLENMARK.Dec 31 | 535 | 5.63 | 28.64 | 6905750 | POWERGRID.Dec 31 | 191.5 | -1.26 | 20.66 | 16752000 | |
| TATACHEM.Dec 31 | 511 | 4.68 | 28.41 | 7132000 | SBILIFE.Dec 31 | 851.1 | -1.7 | 18.84 | 6726000 | |
| BOSCHLTD.Dec 31 | 13485.1 | 2.12 | 21.62 | 321750 | CHOLAFIN.Dec 31 | 366.1 | -1.48 | 18.65 | 5280000 | |
| RBLBANK.Dec 31 | 242.5 | 2.23 | 18.03 | 19112600 | CONCOR.Dec 31 | 412.5 | -0.65 | 15.2 | 8787186 | |
| IBULHSGFIN.Dec 31 | 205.4 | 5.39 | 15.51 | 21743400 | WIPRO.Dec 31 | 356.85 | -0.78 | 12.02 | 25772800 | |
| Short Covering | Long Unwinding | |||||||||
| Sector | Price | Price% | OI% | OI | Sector | Price | Price% | OI% | OI | |
| CANBK.Dec 31 | 114.45 | 3.15 | -7.9 | 37430000 | INDIGO.Dec 31 | 1745.3 | -0.09 | -4.48 | 2806000 | |
| HDFCLIFE.Dec 31 | 652.4 | 0.89 | -5.56 | 17754000 | JUBLFOOD.Dec 31 | 2556 | -0.76 | -1.41 | 1678500 | |
| MUTHOOTFIN.Dec 31 | 1180 | 0.23 | -2.84 | 4983750 | RAMCOCEM.Dec 31 | 891.25 | -0.39 | -1.06 | 1269050 | |
| TORNTPOWER.Dec 31 | 324.9 | 0.29 | -2.6 | 4491000 | ICICIGI.Dec 31 | 1453.7 | -0.29 | -0.49 | 694875 | |
| L&TFH.Dec 31 | 90.8 | 3.59 | -2.47 | 27172800 | TITAN.Dec 31 | 1435 | -0.24 | -0.01 | 6459000 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Hdfc Ltd. | 2303.8 | 2.58 | 4910736 | 1774185 | 54.67 | Nifty Media | 1627.7 | 2.79 | 79629 | |
| Infosys Limited | 1143.5 | 0.78 | 7792141 | 5755999 | 54.49 | Nifty Pharma | 12555.95 | 1.64 | 79629 | |
| Icici Lombard General In | 1442.75 | -0.52 | 514977 | 506509 | 53.95 | Nifty Fmcg | 32866.9 | 1.58 | 79629 | |
| Max Financial Services l | 648.7 | 1.75 | 2478830 | 461424 | 53.43 | Nifty 50 | 13355.75 | 0.73 | 79629 | |
| Kotak Mahindra Bank Limi | 1820.55 | -1.39 | 6032173 | 2102840 | 52.71 | Nifty it | 22440.9 | 0.59 | 79629 | |
| Hindustan Unilever Ltd | 2256.15 | 3.29 | 4147649 | 1940776 | 52.28 | Nifty Bank | 30211.55 | 0.53 | 79629 | |
| Godrej Cons Products Ltd | 714.45 | 0.63 | 989380 | 638867 | 50.66 | Nifty Energy | 16998.6 | 0.44 | 79629 | |
| Havells India Limited | 825.8 | -0.45 | 1252949 | 977412 | 50.11 | Nifty Auto | 9311.1 | 0.1 | 79629 | |
| Sbi Life Insurance Compa | 851.75 | -1.3 | 2151322 | 803254 | 48.56 | Nifty Metal | 3161.2 | 0 | 79629 | |
| Biocon Limited | 450.6 | 1.8 | 5920675 | 3083574 | 48.5 | Nifty Realty | 282.45 | -0.34 | 79629 | |
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UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: CPI Y-o-Y on 11th December, 2020
INR: Cumulative Industrial production(oct) on 11th December, 2020 |
•USD: EIA short term energy outlook on 8th December ,2020
•USD: API weekly crude oil stock on 8th December, 2020 |
NEWS UPDATES
| •Pfizer Inc. and AstraZeneca Plc — have applied for emergency use authorization in India, according to the Press Trust of India, raising the likelihood that mass inoculation efforts could begin within weeks in the country of 1.3 billion people.
•Hindalco Industries Ltd. has revived a $947 million plan to make more value-added aluminum products as the Indian economy recovers from the coronavirus pandemic. Billionaire Kumar Mangalam Birla’s aluminum major will invest 70 billion rupees to double its capacity to more than 600,000 tons annually over the next few years, the company said in an exchange statement Monday. The company will kick of its long-term downstream investment plan by setting up a 34,000-ton aluminum extrusion project in the western Indian town of Silvassa, with production expected to start in two years. •State Bank of India will accelerate retail loans and expects most lenders to post stronger-than-anticipated earnings as the economy revives faster than expected, according to Chairman Dinesh Khara. SBI’s bad loan ratio fell to 5.28% at the end of September from 5.44% three months earlier, but the bank warned that it expects a further 200 billion rupees ($2.7 billion) of loans to sour over the next six months as the pandemic hurts borrowers. •Source: Economic Times, Moneycontrol ,Business Today, Livemint, Business Standard, Bloomberg Quint |
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BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| BALLARPUR | Audited Results;Quarterly Results | 08-Dec-20 | VELJAN | A.G.M.;General | 08-Dec-20 |
| BGIL | A.G.M.;General | 08-Dec-20 | XTGLOBAL | General | 08-Dec-20 |
| BGLOBAL | A.G.M.;General | 08-Dec-20 | EUREKAI | A.G.M.;General | 09-Dec-20 |
| BLCISER | General | 08-Dec-20 | HAL | Interim Dividend | 09-Dec-20 |
| BRAHMINFRA | General | 08-Dec-20 | MAWANASUG | General | 09-Dec-20 |
| IISL | A.G.M.;General | 08-Dec-20 | PARINFRA | Audited Results;Quarterly Results | 09-Dec-20 |
| KAVVERITEL | A.G.M.;General | 08-Dec-20 | SICLTD | Quarterly Results | 09-Dec-20 |
| MINDSPACE | General | 08-Dec-20 | STARLINE | General | 09-Dec-20 |
| POLYMED | General | 08-Dec-20 | UNITINT | A.G.M.;General | 09-Dec-20 |
| REALECO | A.G.M.;General | 08-Dec-20 | ECORECO | Quarterly Results | 10-Dec-20 |
| SYTIXSE | General | 08-Dec-20 | GOBLIN | General | 10-Dec-20 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| MULTIPLUS HOLDINGS LTD. | 08-Dec-20 | Final Dividend – Rs. – 0.2000 | RUSHIL DECOR LTD. | 10-Dec-20 | Final Dividend – Rs. – 0.5000 |
| Rail Vikas Nigam Ltd | 08-Dec-20 | Dividend – Rs. – 1.1400 | SOUTHERN ONLINE BIO TECHNOLOGIES LTD. | 10-Dec-20 | Reduction of Capital |
| HATSUN AGRO PRODUCT LTD. | 09-Dec-20 | Bonus issue 1:3 | Shahlon Silk Industries Ltd | 10-Dec-20 | Dividend – Rs. – 0.2500 |
| Integrated Capital Services Ltd | 09-Dec-20 | E.G.M. | WIPRO LTD. | 10-Dec-20 | Buy Back of Shares |
| Garware Technical Fibres Ltd | 10-Dec-20 | Buy Back of Shares | Lex Nimble Solutions Ltd | 10-Dec-20 | E.G.M. |
| Infibeam Avenues Ltd | 10-Dec-20 | Spin Off | Manas Properties Ltd | 11-Dec-20 | E.G.M. |
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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