2020-03-07-OUTLOOK

NIFTY:

GLOBAL MARKETS

The US markets have exhibited intense, volatile movement, with the DOW having daily ranges of 1000 points and more, for the last few days. The market may continue to move around current levels with the large daily range and can continue to cause volatility and chaos among traders.  We would also expect the markets to bottom out while this process of volatility continue.

Positional traders

Suggestion to buy with a stop and 11000. this trade never actually got going today because the markets opened much lower than 11000. Positional traders need to wait for the markets to give a clear signal that a low is in place.

Swing and intraday trades

There is an underlying change that has occurred in today’s price action. Today the open was lower than the close and means that a while candle was made today. We can think of this as the first sign that the markets is trying to find a low. Traders should look to take intraday trade on Monday if the context supports a buying opportunity.

TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
     JUBLFOOD 1686.06 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  1660 and for the target of  1740.
      VEDL 111.05 SELL The immediate trend of the stock is weak . The stock can be sold  at CMP with a stop loss of  116.10 and for  the target of  104-100.

DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
IGL 440 CE BUY 14.45 CMP 9 25 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
PIDILITIND.Mar 26 1646.1 1.24 16.49 2148000 MFSL.Mar 26 519.65 -13.82 42.32 3724500
M&MFIN.Mar 26 334.5 0.03 15.71 9665600 RBLBANK.Mar 26 255.2 -14.48 29.55 21298500
GAIL.Mar 26 107 0.05 8.24 37610034 VOLTAS.Mar 26 673 -2.21 24.85 3381000
MARUTI.Mar 26 6405 0.58 6.57 3253300 INDUSINDBK.Mar 26 1008 -6.34 24.32 15830800
MINDTREE.Mar 26 970.45 0.92 5.99 1245600 NIFTY.Mar 26 10927.5 -2.91 24.06 18783675
                                                                        Short Covering                                                                              Long unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
IGL.Mar 26 438.2 0.01 -0.19 11679250 NIFTYIT.Mar 26 15502 -1.98 -17.97 5250
RAMCOCEM.Mar 26 727.1 -1.12 -8.49 940000
APOLLOTYRE.Mar 26 134.5 -3.79 -5.29 15684000
PVR.Mar 26 1625.45 -2.26 -2.45 1527200
INDIGO.Mar 26 1177.25 -1.46 -2.17 3580500

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
HDFC LIFE INSURANCE COMP 548.15 -2.97 3494853 2377679 62.22 INDIA VIX 25.64 10.29 83511
Infosys Limited 738.95 -2.07 9216022 4825053 62.22 Nifty Auto 6895 -0.84 83511
HDFC Ltd. 2109.45 -3.9 5414446 2407536 61.47 Nifty IT 15663.5 -1.31 83511
HDFC BANK LTD. 1134.9 -1.43 11526783 5681138 58.12 Nifty Pharma 8018.3 -1.57 83514
TATA CONSULTANCY SERV LT 2116.45 -0.4 2595027 2287407 58.1 Nifty FMCG 28937 -2.01 83511
CHOLAMANDALAM 280.55 -3.11 2409257 3136815 55.69 Nifty 50 10989.45 -2.48 83511
Godrej Cons Products Ltd 638.9 -1.81 2063109 1608848 55.26 Nifty Realty 269.75 -2.92 83514
HCL Technologies Ltd. 566.2 -1.77 3288548 3342007 55.14 Nifty Bank 27801.45 -3.52 83511
Shree Cements Ltd. 23110.45 0.19 34236 23949 54.99 Nifty Metal 2183.9 -4.42 83511
Petronet LNG Limited 235.15 -2.97 4601189 1651601 54.57 Nifty Media 1527.15 -4.93 83511

Upcoming Economic Data

   Domestic                                                                                                                                                  International
•INR:  Industrial Production (YoY) (Jan)  on 12th March ,2020

•INR:  CPI (YoY) (Feb) on 12th March,2020

•USA: Core CPI (MoM) (Feb) on 11th  March,2020

•USA: Crude Oil Inventories on 11th March, 2020

News Updates

• State Bank of India (SBI) will pick up a 49 per cent stake in troubled private lender YES Bank as part of a revival scheme framed by the Reserve Bank of India (RBI) on Friday. The draft scheme, titled “Yes Bank Ltd. Reconstruction Scheme, 2020”, issued by the RBI, mentioned SBI as the “investor bank” and said it would pay at least Rs 10 per share for buying equity in YES Bank. The move will lead to a capital infusion of roughly Rs 2,650 crore by SBI, with equity worth Rs 2,450 crore and preferential shares of around Rs 200 crore, an RBI executive said, requesting anonymity.

•Harit Talwar, the head of Goldman Sachs Group’s consumer-banking business, is in the running for one of India’s top banking jobs. HDFC Bank, India’s largest private-sector lender, has held talks with Talwar for the top role, according to people with knowledge of the matter.

•In the country’s biggest ever privatisation drive, the government on Saturday invited bids for sale of its entire 52.98 per cent stake in India’s second biggest oil refiner Bharat Petroleum Corp Ltd (BPCL). Expressions of interest for the strategic sale of BPCL have been invited by May 2, as per the bid document by the Department of Investment and Public Asset Management (DIPAM).

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
AIAENG Interim Dividend 09-Mar-20 MMFL Interim Dividend 09-Mar-20
AMARAJABAT Interim Dividend 09-Mar-20 MODISNME Interim Dividend 09-Mar-20
AREALTY General 09-Mar-20 NFL Interim Dividend 09-Mar-20
BALAMINES Interim Dividend 09-Mar-20 OAL Interim Dividend 09-Mar-20
BRIGHTBR Interim Dividend 09-Mar-20 PNCINFRA Interim Dividend 09-Mar-20
DELTACORP Interim Dividend 09-Mar-20 RODIUM General 09-Mar-20
EXCELINDUS Interim Dividend 09-Mar-20 SASKEN Interim Dividend 09-Mar-20
HATSUN Interim Dividend;General 09-Mar-20 SUNTV Interim Dividend 09-Mar-20
INDUSINDBK General 09-Mar-20 TATASTEEL General 09-Mar-20
KEI Interim Dividend 09-Mar-20 TRIVENIGQ General 09-Mar-20
LKPFIN Interim Dividend 09-Mar-20 WELSPUNIND Interim Dividend 09-Mar-20
MANVIJAY General 09-Mar-20 WSTCSTPAPR Interim Dividend 09-Mar-20

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
FINOLEXIND 09-Mar-20 Interim Dividend – Rs. – 10.00 ENDURANCE 11-Mar-20 Interim Dividend – Rs. – 5.50
JUBILANT 09-Mar-20 Interim Dividend – Rs. – 5.00 INDIAGLYCO 11-Mar-20 Interim Dividend – Rs. – 6.00
JUBLFOOD 09-Mar-20 Interim Dividend – Rs. – 6.00 JKCEMENT 11-Mar-20 Interim Dividend – Rs. – 7.50
KDDL 09-Mar-20 Interim Dividend – Rs. – 2.00 NH 11-Mar-20 Interim Dividend – Rs. – 1.00
MAITHANALL 09-Mar-20 Interim Dividend – Rs. – 6.00 NIITTECH 11-Mar-20 Buy Back of Shares
NBVENTURES 09-Mar-20 Interim Dividend – Rs. – 1.50 RAMCOCEM 11-Mar-20 Interim Dividend – Rs. – 2.50
PRADPME 09-Mar-20 Interim Dividend – Rs. – 1.00 RAMCOIND 11-Mar-20 Interim Dividend – Rs. – 0.50
ADORFO 11-Mar-20 Interim Dividend – Rs. – 1.80 RELAXO 11-Mar-20 Interim Dividend – Rs. – 1.25

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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