Morning-Outlook-Feature-Image

Morning-outlook-12dec-graph

NIFTY:

NIFTY opened at 17524.40 with a gap up of 45 points. The index recorded its intraday high at 17543.25 within the first few minutes of trading and then started moving down. The gap was filled quickly and prices have moved further on the downside to recording its intraday low at 17379.60. Prices have bounced up, rallied higher, and come close to its early morning highs.The rally took a pause there and then traded choppy and sideways for the rest of the day. The index finally closed at 17516.85 near the opening tick with a gain of 47.10 points or 0.27% up. MEDIA was the biggest outperformer today and ended with a gain of 3.57%. BANK and FINANCIAL have led the bears today and closed with a loss of nearly half percent.

The short-term trend is still sideways but the bias has changed to bearish. We have been discussing a trading range within 16800 – 17500 zones. Prices have been moving within these boundaries for the last twelve trading days. Today the index broke it on the upside but did not move further higher and closed a few ticks above 17500. If the index resumes its up move tomorrow and breaks above 17600 then we should take a long trade here. Keep a stop of 110 points and a target of 240 points from the entry point.

BANK NIFTY:

BANK NIFTY opened at 37331.75 with a gap up of 67 points. The index recorded its intraday high at 37397.55 and then started moving downwards. A sharp decline of about 500 points brought the index below 37000 and prices have recorded its intraday low at 36884.45. The index moved within these levels for the rest of the day and finally closed at 37063.45 with a loss of 201 points. PSU BANKS have outperformed today and closed higher by just 0.10%.PVT BANKS have underperformed today and ended with a loss of 0.40%. Within the index, in terms of points, IDFC FIRST BANK contributed the highest while HDFC BANK contributed the lowest. Prices have stayed above 36800 but seen an intraday decline to close lower. The short-term trend is up and we should look for buying only, if the decline continued tomorrow then we should be looking for a buying opportunity on a dip at or below 36500.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
TATACHEM 935 BUY The stock is on the verge of giving the breakout on the intraday as well as the daily chart. The stock can be bought above  940 with a stop loss of 920 and for the target of 980.
TATACONSUM 777 BUY The  immediate trend of the script is bullish. There is a positive  cross over of moving averages  as well as of the indicators therefore  it can be buy above 780 with a stop loss of 760 and target  of 798.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
ZEE 375CE BUY 19 CMP 10 35 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
GLENMARK.Dec 30 510.55 0.04 2.57 9150550 SBICARD.Dec 30 960.5 -5.72 45.74 1112000
NAUKRI.Dec 30 5770.9 0.05 4.8 1182625 CHAMBLFERT.Dec 30 403.45 -2.22 2.04 60546100
OFSS.Dec 30 4242.55 0.05 0.42 623875 HAVELLS.Dec 30 1396.7 -1.93 5.09 6097263
AUBANK.Dec 30 1167.4 0.08 1.05 3693500 APLLTD.Dec 30 806.9 -1.85 6.92 1.37E+08
CADILAHC.Dec 30 464.9 0.1 1.79 18847400 APOLLOHOSP.Dec 30 5265 -1.8 3.72 18520700
                                                                        Short Covering                                                                       Long Unwinding
JSWSTEEL.Dec 30 674.9 0.08 -0.71 45728550 BIOCON.Dec 30 374.7 -2.57 -2.52 18558700
OBEROIRLTY.Dec 30 882.85 0.1 -0.04 3213700 BANKNIFTY.Dec 30 37203 -0.53 -0.98 2270975
SRF.Dec 30 2139.5 0.16 -0.84 3485000 POLYCAB.Dec 30 2381.1 -0.52 -2.39 501900
DLF.Dec 30 400.1 0.38 -0.48 32604000 PIIND.Dec 30 2945.3 -0.47 -0.14 1653500
PEL.Dec 30 2649.45 0.39 -0.32 3619825 DEEPAKNTR.Dec 30 2330.1 -0.44 -0.21 2401000

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Sbi Life Insurance 1161.35 -0.7 1136171 0 74.6 Nifty 50 17516.85 0.27 80832
Hdfc Bank Ltd. 1526.85 -1.73 5873872 0 73.77 Nifty Bank 37082.45 -0.54 80832
Crompton Greaves Consume 438.65 2.19 928259 0 73.55 Nifty it 35946.35 -0.04 80832
Lupin Limited 887.55 -0.19 897841 0 71.97 India Vix 16.6 -3.82 80832
Dabur India Ltd. 579.75 0.99 1444157 0 71.08 Nifty Fmcg 38201.65 1.44 80832
Hdfc Ltd. 2842.05 -0.38 2036491 0 70.65 Nifty Mnc 19136.65 0.85 80832
Hdfc Life Insurance Comp 683.15 -0.47 1650779 0 70.23 Nifty Pharma 13449.4 0.12 80832
Hindustan Unilever Ltd 2339.75 -0.04 716666 0 68.94 Nifty Auto 11058.75 0.46 80832
Rec Limited 136.75 0.44 7817226 0 68.71 Nifty Metal 5629.8 0.62 80829
Godrej Cons Products Ltd 927.7 2.76 2071868 0 68.23 Nifty Realty 507.65 -0.28 80832

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: Manufacturing Output (MoM) (Oct) on 10th December, 2021

INR: Industrial Production (YoY) (Oct) on 10th December, 2021

•USD: CPI (YoY) (Nov) on 10th December, 2021

•USD: Federal Budget Balance (Nov) on 11th December, 2021

NEWS UPDATES

  • Biscuits major Parle Products expects 20-25 per cent growth in exports on the back of the government’s production-linked incentive (PLI) scheme in the food processing sector, for which it has received approval, according to a senior company official. The company, which exports its products to over 100 countries globally, feels that the PLI scheme will help it in becoming cost competitive, besides increasing competitiveness abroad with offerings of quality products.

  • Bharti Airtel on Thursday launched ‘Airtel India Startup Innovation Challenge’ in partnership with Invest India that will let early-stage technology companies demonstrate differentiated solutions. The challenge invites early-stage Indian startups to demonstrate solutions for 5G, IoT, Cloud Communications, Digital Advertising and Digital Entertainment.

  • Homegrown pharma major Dr Reddy’s Laboratories on Thursday said it has launched Valsartan tablets, used for treatment of high blood pressure and heart failure, in the US market. The Valsartan tablet is the generic therapeutic equivalent of Diovan, approved by the US Food and Drug Administration (USFDA), the company said in a regulatory filing.

  • India’s TVS Motor Company, the flagship of the $8.5 billion TVS Group, said on Thursday it has a new distribution partnership with Active Motors SA for Nicaragua and Costa Rica to expand its business in Central America further. Active Motors SA, a subsidiary of Grupo Q, will support TVS Motor with dedicated sales, service, spares and customer relationship management (CRM).

Source: Economic Times,  Indian Express  ,Business Today, Livemint, Business Standard, Bloomberg Quint

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
AASHKA Half Yearly Results 10-Dec-21 INDPRUD General 11-Dec-21
BHATIA General 10-Dec-21 LACTOSE General 11-Dec-21
BLUECLOUDS Preferential Issue of shares 10-Dec-21 MAGANTR General 11-Dec-21
DYNAMIND General 10-Dec-21 SHANTAI General 11-Dec-21
OBCL General 10-Dec-21 SHUBHAM Quarterly Results 11-Dec-21
SHIVAMAUTO Right Issue of Equity Shares 10-Dec-21 VEDL Interim Dividend 11-Dec-21
SINDHUTRAD Stock  Split 10-Dec-21 CMMHOSP General 13-Dec-21
STL General 10-Dec-21 DANUBE Stock  Split 13-Dec-21
SUPRAP General 10-Dec-21 GRNLAMIND Stock  Split 13-Dec-21
UNIVPHOTO Voluntary Delisting of Shares 10-Dec-21 JINDALPHOT Voluntary Delisting of Shares 13-Dec-21
BEARDSELL Right Issue of Equity Shares 11-Dec-21 MAHACORP General 13-Dec-21
CRPRISK A.G.M.;Audited Results 11-Dec-21 SWORDEDGE Bonus issue 13-Dec-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
SEACOAST 10-Dec-21 E.G.M. CHEVIOT 16-Dec-21 Buy Back of Shares
NIHARINF 13-Dec-21 E.G.M. EARUM 16-Dec-21 Stock  Split From Rs.10/- to Rs.2/-
HINDZINC 14-Dec-21 Interim Dividend – Rs. – 18.0000 KKCL 16-Dec-21 Bonus issue 4:1
NMDC 14-Dec-21 Interim Dividend – Rs. – 9.0100 MPSLTD 16-Dec-21 Buy Back of Shares
TTKPRESTIG 14-Dec-21 Stock  Split From Rs.10/- to Rs.1/- SRD 16-Dec-21 Bonus issue 1:1
RAJESHEXPO 15-Dec-21 Dividend – Rs. – 1.0000 VEDL 16-Dec-21 Interim Dividend
BNRSEC 16-Dec-21 Right Issue of Equity Shares BAMBINO 21-Dec-21 Final Dividend – Rs. – 1.6000

Disclosure in pursuance of Section 19 of SEBI (RA) Regulation 2014

Elite Wealth Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only information in making their investment decision and must exercise their own judgment before making any investment decision.
For analyst certification and other important disclosures, see the Disclosure Appendix, or go to www.elitewealth.in. Analysts employed by Elite Wealth Limited are registered/qualified as research analysts with SEBI in India.( SEBI Registration No.: INH100002300)
Disclosure Appendix
Analyst Certification (For Reports)
Israil Khan, Elite Wealth Limited, suhail@elitewealth.in
The analyst(s) certify that all of the views expressed in this report accurately reflect my/our personal views about the subject company or companies and its or their securities. I/We also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report. Unless otherwise stated, the individuals listed on the cover page of this report are analysts in Elite Wealth Limited.
As to each individual report referenced herein, the primary research analyst(s) named within the report individually certify, with respect to each security or issuer that the analyst covered in the report, that:
(1) all of the views expressed in the report accurately reflect his or her personal views about any and all of the subject securities or issuers; and
(2) no part of any of the research analyst’s compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed in the report.
For individual analyst certifications, please refer to the disclosure section at the end of the attached individual notes.
Research Excerpts
This note may include excerpts from previously published research. For access to the full reports, including analyst certification and important disclosures, investment thesis, valuation methodology, and risks to rating and price targets, please visit www.elitewealth.in.
Company-Specific Disclosures
Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting https://www.elitewealth.in, or emailing research@elitestock.com with your request. Elite Wealth Limited may screen companies based on Strategy, Technical, and Quantitative Research. For important disclosures for these companies, please e-mail research@elitestock.com.
Options related research:
If the information contained herein regards options related research, such information is available only to persons who have received the proper option risk disclosure documents. For a copy of the risk disclosure documents, please contact your Broker’s Representative or visit the OCC’s website at https://www.elitewealth.in
Other Disclosures
All research reports made available to clients are simultaneously available on our client websites. Not all research content is redistributed, e-mailed or made available to third-party aggregators. For all research reports available on a particular stock, please contact your respective broker’s sales person.
Ownership and material conflicts of interest Disclosure
Elite Wealth Limited policy prohibits its analysts, professionals reporting to analysts from owning securities of any company in the analyst’s area of coverage. Analyst compensation: Analysts are salary based permanent employees of Elite Wealth Limited. Analyst as officer or director: Elite Wealth Limited policy prohibits its analysts, persons reporting to analysts from serving as an officer, director, board member or employee of any company in the analyst’s area of coverage.
Country Specific Disclosures
India – For private circulation only, not for sale.
Legal Entities Disclosures
Mr. Ravinder Parkash Seth is the Managing Director of Elite Wealth Ltd (EWL, henceforth), having its registered office at Casa Picasso, Golf Course Extension, Near Rajesh Pilot Chowk, Radha Swami, Sector-61, Gurgaon-122001 Haryana, is a SEBI registered Research Analyst and is regulated by Securities and Exchange Board of India. Telephone:011-43035555, Facsimile: 011-22795783 and Website: www.elitewealth.in
EWL discloses all material information about itself including its business activity, disciplinary history, the terms and conditions on which it offers research report, details of associates and such other information as is necessary to take an investment decision, including the following:
1. Reports
a) EWL or his associate or his relative has no financial interest in the subject company and the nature of such financial interest;
(b) EWL or its associates or relatives, have no actual/beneficial ownership of one per cent. or more in the securities of the subject company, at the end of the month immediately preceding the date of publication of the research report or date of the public appearance;
(c) EWL or its associate or his relative, has no other material conflict of interest at the time of publication of the research report or at the time of public appearance;
2. Compensation
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) EWL or its associates have not managed or co-managed public offering of securities for the subject company in the past twelve months;
(c) EWL or its associates have not received any compensation for investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(d) EWL or its associates have not received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(e) EWL or its associates have not received any compensation or other benefits from the Subject Company or third party in connection with the research report.
3 In respect of Public Appearances
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) The subject company is not now or never a client during twelve months preceding the date of distribution of the research report and the types of services provided by EWL

FILING COMPLAINTS ON SCORES - EASY & QUICK

a. Register on SCORES portal

b. Mandatory details for filing complaints on SCORES:
i. Name, PAN, Address, Mobile Number, E-mail ID

c. Benefits:
i. Effective communication
ii. Speedy redressal of the grievances

SEBI : https://www.scores.gov.in/scores/complaintRegister.html