NIFTY:
NIFTY opened at 17373 with a gap up of 152 points. The index recorded its intraday high at 17379.35 within the first five minutes of trading and then moved down. A sharp decline of almost 200 points brought prices below 17200and then the index started rising. The rally fizzled out quickly and prices have gone down again to record its intraday low at 17184.95. The index has seen a sharp recovery in the last 30 minutes of trading and finally closed at 17248.40 with a gain of just 27 points or 0.16% up. All the sectoral indices have closed lower today except the IT and OIL & GAS.MEDIA was the biggest underperformer that ended nearly 2% lower. The rest of the sectors have incurred a loss of less than 1%.
The long-term trend is sideways while the long-term momentum has turned down today before reaching the strength zone. The Intermediate trend is down again while the intermediate momentum has reached inside the weak zone today. Both the momentums are now moving in the same direction that is the downside, which suggests lower levels are ahead. Till then we should shift our focus to trading only on an intraday basis. Since the bias is bearish so we should be looking to sell short on a rally and a breakdown.
BANK NIFTY:
BANK NIFTY opened at 37092.95 with a gap up of 325 points. The index recorded its intraday high at 37159.30 and then started drifting downwards. The gap filled and prices have recorded its intraday low at 36385.75. The index consolidated in the afternoon that broke on the downside and prices finally closed at 36585.45 with a loss of 182 points.
PSU BANKS have continued its underperformance and closed with a lossof0.95%.PVT BANKS have also moved down and ended lower by 0.73%.Within the index, in terms of points, HDFC BANK contributed the highest while ICICI BANK contributed the lowest. The short-term trend is sideways and randomness in the index remain intact. We should avoid carry forward trades for the time being and shift our focus on trading intraday basis. We will get a trading opportunity once the index starts a directional move in either side.
TECHNICAL PICKS
| COMPANY NAME | CMP | B/S | RATIONALE+ |
| SRF | 2216 | BUY | The stock is on the verge of giving the breakout on the intraday as well as the daily chart. The stock can be buy above 2230 with a stop loss of 2180 and for the target of 2290. |
| INFY | 1771 | 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 1780 with a stop loss of 1750 and target of 1840. |
DERIVATIVE PICKS
| Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| RELIANCE | 2440 CE | BUY | 41 | CMP | 30 | 60 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| IOC.Dec 30 | 116.3 | 0 | 1.02 | 43979000 | TORNTPOWER.Dec 30 | 558.5 | -5.99 | 15.33 | 4435500 | |
| INDUSTOWER.Dec 30 | 266.05 | 0.02 | 3.81 | 17760400 | TVSMOTOR.Dec 30 | 636.35 | -5.96 | 15.13 | 10278800 | |
| BHARTIARTL.Dec 30 | 688.5 | 0.03 | 3.13 | 74591300 | CROMPTON.Dec 30 | 420 | -2.82 | 8.58 | 2616900 | |
| JINDALSTEL.Dec 30 | 398 | 0.04 | 1.09 | 35325000 | APLLTD.Dec 30 | 775.5 | -2.62 | 4.18 | 1643400 | |
| IGL.Dec 30 | 498.6 | 0.06 | 0.95 | 10106250 | NAM-INDIA.Dec 30 | 347.5 | -2.61 | 9.73 | 4113600 | |
| Short Covering | Long Unwinding | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| DIVISLAB.Dec 30 | 4613.1 | 0.05 | -0.7 | 2484000 | IBULHSGFIN.Dec 30 | 255 | -5.1 | -0.45 | 31170500 | |
| ADANIPORTS.Dec 30 | 750.2 | 0.13 | -0.33 | 87158750 | BIOCON.Dec 30 | 364.55 | -3.16 | -0.11 | 20476900 | |
| SAIL.Dec 30 | 114.35 | 0.22 | -0.36 | 1.51E+08 | MCX.Dec 30 | 1713 | -3.02 | -0.11 | 1937950 | |
| ADANIENT.Dec 30 | 1706.1 | 0.4 | -0.02 | 20382500 | STAR.Dec 30 | 457.75 | -2.21 | -0.19 | 5383125 | |
| ASTRAL.Dec 30 | 2280 | 0.45 | -2.3 | 549725 | DALBHARAT.Dec 30 | 1892.05 | -2.2 | -1.64 | 480250 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Sbi Card | 916.65 | 1.6 | 3203345 | 0 | 77.94 | Nifty 50 | 17248.4 | -0.44 | 84123 | |
| Infosys Limited | 1771.6 | 1.11 | 4481031 | 0 | 71.36 | Nifty Bank | 36548.65 | -0.94 | 84129 | |
| Icici Lombard General In | 1408.45 | -1.85 | 658200 | 0 | 70.91 | Nifty it | 36160.3 | 0.16 | 84129 | |
| Tata Consultancy Serv Lt | 3581.6 | -1.16 | 2072320 | 0 | 69.65 | Nifty Auto | 10945.75 | -0.24 | 84129 | |
| Colgate Palmolive (india | 1447.1 | -0.81 | 209665 | 0 | 68.81 | Nifty Metal | 5597.15 | -1.23 | 84129 | |
| Nippon Life India Asset | 345.65 | -3.91 | 2199642 | 0 | 68.4 | India Vix | 15.9 | -6.19 | 84126 | |
| Kotak Mahindra Bank Limi | 1860.75 | 1.11 | 3054462 | 0 | 68.27 | Nifty Pharma | 13393.65 | -1.34 | 84129 | |
| Marico Limited | 509.5 | -1.08 | 560343 | 0 | 67.75 | Nifty Fmcg | 37244.35 | -1.06 | 84129 | |
| Hindustan Unilever Ltd | 2309.5 | -0.38 | 926493 | 0 | 67.73 | Nifty Realty | 495.4 | -2.71 | 84129 | |
| Dabur India Ltd. | 570.25 | -1.58 | 884563 | 0 | 67.59 | Nifty Media | 2389.8 | -3.1 | 84129 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: FX Reserves, USD on 17th December, 2021
INR: Deposit and Bank Loan Growth Rate on 17th December, 2021 |
•USD: GDP (QoQ) (Q3) on 22nd December, 2021
•USD: Existing Home Sales (Nov) on 22nd December, 2021 |
NEWS UPDATES
-
Tata Power on Thursday said its arm TP Saurya has received a ‘Letter of Award’ from Maharashtra State Electricity Distribution Company (MSEDCL) for setting up a 300 MW hybrid (wind & solar) project. TP Saurya Ltd (TPSL), a wholly-owned subsidiary of Tata Power, has received this Letter of Award (LoA) in a bid announced by MSEDCL, a company statement said.
-
BEML Limited has signed a Memorandum of Understanding (MoU) with RITES Limited, a leading transport infrastructure consultancy and engineering company, to explore and jointly bid for opportunities in the fields of Metro systems and export of rolling stock. As part of the MoU, RITES will provide expertise in design, engineering, marketing and any other support that may be required for tapping domestic and overseas opportunities while BEML will be responsible for manufacturing of customised metro coaches and rolling stock a BEML statement said.
-
State-owned CIL on Thursday said it has drawn up plans to boost coal stock at thermal power plants to over 45 million tonnes (MT) from its own sources by the end of the ongoing fiscal. Coal India Ltd (CIL) is aiming for the highest-ever closing stock at power plants, the PSU said in a statement.
-
Torrent Pharmaceuticals Ltd on Thursday said its manufacturing facility at Levittown, Pennsylvania in the US has successfully completed inspection by the USFDA. At the end of the inspection, no ‘Form 483’ was issued, the company said in a regulatory filing.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint.
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| ALPHALOGIC | In. in Auth. Capital;Pref. Issue of shares | 17-Dec-21 | HAZOOR | Preferential Issue of shares | 18-Dec-21 |
| AMARJOTHI | General | 17-Dec-21 | HILTON | Issue Of Warrants | 18-Dec-21 |
| AURUM | Right Issue of Equity Shares;General | 17-Dec-21 | HIPOLIN | General | 18-Dec-21 |
| BIRET | Preferential Issue of shares | 17-Dec-21 | INDINFO | Increase in Authorised Capital;General | 18-Dec-21 |
| DUKEOFS | General | 17-Dec-21 | JPOLYINVST | Voluntary Delisting of Shares | 18-Dec-21 |
| MASTEK | Preferential Issue of shares | 17-Dec-21 | VASINFRA | General | 18-Dec-21 |
| MOLDTKPAC | General | 17-Dec-21 | VINCOFE | Preferential Issue of shares | 18-Dec-21 |
| PARSHVA | Bonus issue;General | 17-Dec-21 | ANERI | General | 20-Dec-21 |
| QGO | General | 17-Dec-21 | CRPRISK | Audited Results;Half Yearly Results | 20-Dec-21 |
| REGENTRP | General | 17-Dec-21 | GNRL | General | 20-Dec-21 |
| RRMETAL | General | 17-Dec-21 | HIGHSTREE | General | 20-Dec-21 |
| TIRUSTA | Preferential Issue of shares;General | 17-Dec-21 | KILITCH | Issue Of Warrants;Pref. Issue of shares | 20-Dec-21 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| VEDL | 17-Dec-21 | Interim Dividend – Rs. – 13.5000 | PRECWIRE | 22-Dec-21 | Stock Split From Rs.5/- to Rs.1/- |
| BAMBINO | 21-Dec-21 | Final Dividend – Rs. – 1.6000 | BCG | 23-Dec-21 | Final Dividend – Rs. – 0.0500 |
| IFINSEC | 22-Dec-21 | E.G.M. | CANFINHOME | 23-Dec-21 | Interim Dividend – Rs. – 1.5000 |
| POWERGRID | 22-Dec-21 | Interim Dividend – Rs. – 4.0000 | HIKLASS | 23-Dec-21 | Stock Split From Rs.10/- to Rs.5/- |
| POWERGRID | 22-Dec-21 | Special Dividend – Rs. – 3.0000 | HINDEVER | 23-Dec-21 | Stock Split From Rs.10/- to Rs.2/- |
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