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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