outlook-2020-01-09

 

NIFTY:

Volatility is the enemy of bull markets.

The last three days saw an enormous amount of volatility. We have seen both upward and downward gaps. We have also seen sharp intraday rallies followed by eually sharp intraday declines.

The NIFTY now has a resistance at 12120 and support in a zone between 11880 to 11840. Readers will note that these  levels of support and resistance have been coming down regulary, suggesting a pattern of lower highs and lower lows.

VIEW:

Sell on a rally towards 12090 with a stop just above 12120.

Buy on a dip towards 11920 with a stop just below 11880.

 

TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
     INDIGO 1353.10 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  1332 and for the target of  1395.
     HAVELLS 629.45 SELL The immediate trend of the stock is weak . The stock can be sell with a stop loss of  640.30  and for  the target of  605.

 

DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
HINDUNILVR 1920 CE BUY 53.65 CMP 40 75 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
NIITTECH.Jan 30 1693.95 2.49 27.01 811125 BANKNIFTY.Jan 30 31426.05 -0.21 27.43 1834560
JINDALSTEL.Jan 30 176.75 5.05 24.41 30730000 NMDC.Jan 30 121.9 -5.17 24.92 31944000
MINDTREE.Jan 30 840 0.07 15.63 1550400 EICHERMOT.Jan 30 20015.25 -4.34 15.73 356700
IDEA.Jan 30 6.55 9.17 14.9 427770000 COALINDIA.Jan 30 200 -1.96 14.87 15997500
JUBLFOOD.Jan 30 1716 1.41 12.65 3015000 BPCL.Jan 30 462.65 -0.18 10.74 31660200
                                                                        Short Covering                                                                            Long unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
TATAGLOBAL.Jan 30 316.7 0.11 -3.41 9558000 CHOLAFIN.Jan 30 295.4 -0.05 -2.75 3795000
NIFTYIT.Jan 30 15926 0.15 -3.23 6000 PVR.Jan 30 1868.4 -0.23 -1.54 1355600
BALKRISIND.Jan 30 993.5 2.24 -2.68 1685600 OIL.Jan 30 154.45 -0.13 -0.98 4809585
CUMMINSIND.Jan 30 580.1 0.78 -2.51 1746900 POWERGRID.Jan 30 191.1 -0.52 -0.92 14660000
BATAINDIA.Jan 30 1736 0.59 -1.99 2032250 GAIL.Jan 30 123.85 -0.76 -0.74 47056548

 

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Power Grid Corporation o 190.55 -0.6 5316615 5176365 65.62   INDIA VIX 15.64 7.05 83076
MRF Ltd. 64871.55 -0.71 7222 6953 64.17 Nifty IT 15953.45 0.37 83076
United Breweries Limited 1248.3 -1.51 1193566 286658 64.14 Nifty FMCG 29893.2 0.11 83076
HCL Technologies Ltd. 585.75 0.26 3593096 2016150 63.41 Nifty Bank 31373.65 -0.08 83076
NESTLEIND 14391.25 0.7 39488 43123 59.7 Nifty 50 12025.35 -0.23 83076
Petronet LNG Limited 270.3 -0.24 1315983 1160138 59.64   Nifty Media 1726.6 -0.49 83076
INDRAPRASTHA GAS LIMITED 417.85 1.11 1552645 673861 58.89   Nifty Pharma 7996.15 -0.5 83076
Shree Cements Ltd. 22441.3 2.18 68506 48419 57.72   Nifty Metal 2767.25 -0.67 83076
HDFC Ltd. 2406.15 -0.37 2147334 2163190 57.35   Nifty Auto 7942.75 -0.75 83076
ITC Ltd. 234.2 -0.49 7043211 4781835 56.81   Nifty Energy 15664.95 -0.82 83076

 

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: Nonfarm Payrolls (Dec) on 10th January 2020

•USA: Unemployment Rate (Dec) on 10th January 2020

 

News Updates

•The Supreme IT companies Tech Mahindra and Cyient have opened new centres in Warangal, Telangana. The state’s IT minister, K T Rama Rao, also known as KTR, said he was keen to get IT companies to invest in Telangana’s Tier II cities and towns. He said on Monday the state had taken its first step in that direction with Tech Mahindra and Cyient deciding to enter Warangal. Cyient, however, already had an incubation center in the city since 2016.

•Telecom majors like Bharti Airtel and Vodafone Idea, in their review plea today, sought an urgent relief on the apex court’s ruling on adjusted gross revenue (AGR). The matter was brought before the SC bench led by Justice Arun Mishra for urgent hearing.

•Housing Development Finance Corporation Ltd. has made a commitment to invest Rs 250 crore in the government-led special fund to revive stalled real estate projects. SBI Caps, which is managing the fund, had last month announced the first close of the fund with Rs 10,530 crore commitments from investors, including HDFC.

•Maruti Suzuki India (MSI) on Wednesday reported a 7.88 per cent increase in production in December at 1,15,949 units, the second successive month of hike after reducing it for nine months in a row due to demand slump. The company had produced 1,07,478 units in December 2018.

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

 

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ASTERDM Buy Back of Shares 09-Jan-20 EMAMIREAL General 10-Jan-20
BRIJLEAS Quarterly Results 09-Jan-20 FRONTSEC Voluntary Delisting of Shares 10-Jan-20
CHANDNI General 09-Jan-20 ICSL Quarterly Results 10-Jan-20
CHANDNIMACH General 09-Jan-20 INDIANACRY Quarterly Results 10-Jan-20
COVIDH General 09-Jan-20 INFOMEDIA Quarterly Results 10-Jan-20
EMAMIPAP Quarterly Results 09-Jan-20 INFY Quarterly Results 10-Jan-20
EMERALL Preferential Issue of shares 09-Jan-20 KORE Quarterly Results 10-Jan-20
GTPL Quarterly Results 09-Jan-20 NEH Voluntary Delisting of Shares 10-Jan-20
PRIMESECU Scheme of Arrangement 09-Jan-20 OBCL General 10-Jan-20
VISVEN General 09-Jan-20 OLPCL General 10-Jan-20
AJMERA General 10-Jan-20 PGFOILQ General 10-Jan-20
ALEXANDER Interim Dividend;General 10-Jan-20 SCBL General 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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