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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