NIFTY:
NIFTY opened at 18129.20 with a gap up of just 16 points. The index recorded its intraday high at the opening tick and started drifting downwards. Prices have broken 18000 levels soon and then fall further to record its intraday low at 17884.90.After that, the index took a breather and then consolidated for the rest of the day. A minor recovery came between 02:00 PM to 03:00 PM and the index finally closed at 17938.40 with a loss of 174.65 points or 0.96% down. The AUTO, MEDIA, METAL, and OIL & GAS sectors have outperformed today and closed higher. The IT, FMCG, and FINANCIAL led the bears today and ended with a loss.
Trading in a volatile environment almost always ends with a lot of whip saws. The index recorded its swing high around 18300.This should act as a resistance level. Support should emerge around 17600. As of now, we do not have any adequate trading setup that could suggest a trade. So we should avoid trading the index and wait for prices to stabilize first. We may see a process of consolidation or correction here. The long-term trend is up while the long-term momentum has turned down today but still moving within the strength zone.
BANK NIFTY:
BANK NIFTY opened at 38145.75 with a gap down of 69 points. The index first consolidated and then moved up. Prices have recorded its intraday high at 38330.50and then started drifting downwards. A sharp decline of more than 500 points brought prices to its intraday low at 37769.25.Prices finds support there and again moved up. The index finally closed at 38058.85 with a loss of 156 points. PSU BANKS have seen an outperformance today and ended higher by 2 21%.On the other hands, PVT BANKS have underperformed today and ended with a loss of 0.65%.Withintheindex, in terms of points, SBIN contributed the highest while ICICI BANK contributed the lowest.
The short-term trend is still up but now giving us an impression to a change towards sideways. It will be sideways when index closes below the support 37600.As of now, we should avoid trading the index for the next couple of days and wait for a clear sense of direction.
TECHNICAL PICKS
| COMPANY NAME | CMP | B/S | RATIONALE+ |
| MINDTREE | 4226 | SELL | The stock is on the verge of giving the breakout on the intraday as well as the daily chart. The stock can be sell below 4220 with a stop loss of 4260 and for the target of 4160. |
| TATAPOWER | 248 | 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 249 with a stop loss of 245 and target of 260. |
DERIVATIVE PICKS
| Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| SBIN | 510 CE | BUY | 12 | CMP | 8 | 20 | OI Increase |
| Long Buildup | Short Buildup | ||||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | ||
| SRTRANSFIN.Jan 27 | 1202.5 | 0.01 | 2.1 | 3313200 | HDFCAMC.Jan 27 | 2400.45 | -1.9 | 3.65 | 3109600 | 3109600 | |
| VOLTAS.Jan 27 | 1260 | 0.04 | 0.13 | 3045000 | HDFCLIFE.Jan 27 | 658.25 | -1.72 | 0.68 | 19671300 | 19671300 | |
| PIDILITIND.Jan 27 | 2692.4 | 0.08 | 1.49 | 2116500 | INDIAMART.Jan 27 | 6369.7 | -1.77 | 8.94 | 230400 | 230400 | |
| HINDPETRO.Jan 27 | 324.5 | 0.08 | 1.12 | 11971800 | INDIGO.Jan 27 | 2091.8 | -1.16 | 1.98 | 2630750 | 2630750 | |
| RELIANCE.Jan 27 | 2523.65 | 0.1 | 1.2 | 30491500 | EICHERMOT.Jan 27 | 2731.6 | -0.16 | 3.2 | 2402400 | 2402400 | |
| Short Covering | Long Unwinding | ||||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | ||
| BHARATFORG.Jan 27 | 761.5 | 0.16 | -1.2 | 6334500 | GRANULES. Jan 27 | 312.15 | -3.48 | -2.6 | 15283000 | 15283000 | |
| CHOLAFIN.Jan 27 | 613.3 | 0.21 | -1.87 | 7230000 | ADANIPORTS.Jan 27 | 744.85 | -2.55 | -5.32 | 82251250 | 82251250 | |
| LAURUSLABS.Jan 27 | 499.95 | 0.21 | -1.02 | 4547700 | LICHSGFIN.Jan 27 | 371.3 | -2.11 | -1.2 | 18836000 | 18836000 | |
| AUBANK.Jan 27 | 1263 | 0.26 | -4.84 | 2910000 | GRASIM.Jan 27 | 1814.8 | -2.07 | -0.97 | 10146475 | 10146475 | |
| ESCORTS.Jan 27 | 1867 | 0.4 | -0.76 | 5954850 | MFSL.Jan 27 | 997.2 | -1.93 | -0.27 | 1927900 | 1927900 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Pfizer Ltd. | 4755.15 | -1.65 | 32600 | 0 | 86.77 | Nifty 50 | 17938.4 | -0.96 | 81099 | |
| Crompton Greaves Consume | 435.55 | 0.06 | 1461755 | 0 | 72.43 | Nifty Bank | 38041.35 | -0.44 | 81108 | |
| Hdfc Asset Management Co | 2394.2 | -2.26 | 264613 | 0 | 71.41 | Nifty Fmcg | 37106.4 | -1.06 | 81105 | |
| Hdfc Ltd. | 2620.25 | -1.59 | 1793748 | 0 | 71.29 | India Vix | 17.82 | 0.21 | 81108 | |
| Icici Lombard General In | 1423 | -1.7 | 452596 | 0 | 69.54 | Nifty Realty | 501.9 | -0.15 | 81105 | |
| Tata Consultancy Serv Lt | 3914.65 | -1.9 | 3102539 | 0 | 68.47 | Nifty Pharma | 13682.7 | -0.11 | 81105 | |
| Power Grid Corporation o | 204.65 | -0.24 | 10293276 | 0 | 68.38 | Nifty Media | 2324.6 | 1.01 | 81105 | |
| Hindustan Unilever Ltd | 2309.9 | -2.52 | 2145255 | 0 | 67.57 | Nifty Metal | 5801.1 | 0.8 | 81105 | |
| Container Corp Of India | 671.2 | -1.42 | 748775 | 0 | 66.43 | Nifty Auto | 11681.4 | 0.71 | 81105 | |
| Marico Limited | 494.4 | 0.78 | 899160 | 0 | 65.22 | Nifty Financial Services | 18269.95 | -1.08 | 81105 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: FX Reserves, USD on 21st January, 2022
INR: Bank Loan and Deposit growth on 21st January, 2022 |
•USD: Initial Jobless Claims on 20th January 2022
•USD : Existing Home Sales (Dec) on 20th January 2022 |
NEWS UPDATES
-
JSW Energy on Wednesday reported over two-fold jump in its consolidated net profit to Rs 324 crore in December 2021 quarter, mainly on the back of higher revenues. The consolidated net profit of the company was Rs 124 crore in the year-ago quarter, a BSE filing said. The total revenue of the company rose to Rs 1,984 crore in the quarter from Rs 1,659 crore a year ago.
-
RBL Bank Ltd., the Indian lender at the center of turmoil after the nation’s banking regulator appointed a director last month, is seeking to raise new capital in a bid to allay investor concerns over its financial health, according to people familiar with the matter. The Mumbai-based bank has approached private equity firms for funds in exchange for a stake, the people said, asking not to be identified as the information is private. The bank is looking to raise as much as 15 billion rupees ($201 million) in “confidence capital,” one of the people said.
-
National Stock Exchange of India (NSE) on Wednesday said it has emerged as the world’s largest derivatives exchange in 2021 by the number of contracts traded based on the statistics maintained by the Futures Industry Association (FIA), a derivatives trade body.
-
The government on Wednesday approved sanction of Rs 973.74 crore to State Bank of India NSE 1.78 % (SBI) as reimbursement related to loan moratorium that was implemented in 2020 amid the pandemic.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint.
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| ASIANPAINT | Quarterly Results | 20-Jan-22 | LYKALABS | Quarterly Results | 20-Jan-22 |
| BAJAJFINSV | Quarterly Results | 20-Jan-22 | MAHABANK | Quarterly Results | 20-Jan-22 |
| BAJAJHLDNG | Quarterly Results | 20-Jan-22 | MPHASIS | Quarterly Results | 20-Jan-22 |
| BANARBEADS | Quarterly Results | 20-Jan-22 | ORIENTELEC | Quarterly Results;Interim Dividend | 20-Jan-22 |
| BIOCON | Quarterly Results;General | 20-Jan-22 | PCBL | Quarterly Results;Interim Dividend | 20-Jan-22 |
| CENTURYTEX | Quarterly Results | 20-Jan-22 | PERSISTENT | Quarterly Results;General;Interim Dividend | 20-Jan-22 |
| CONCOR | Results;General;Interim Dividend | 20-Jan-22 | PNBHOUSING | Quarterly Results | 20-Jan-22 |
| CRPRISK | Half Yearly Results | 20-Jan-22 | RIIL | Quarterly Results | 20-Jan-22 |
| CYIENT | Quarterly Results | 20-Jan-22 | SASKEN | Audited Results;Quarterly Results;General | 20-Jan-22 |
| DARSHANORNA | Quarterly Results | 20-Jan-22 | SCOOBEEDAY | Quarterly Results | 20-Jan-22 |
| DATAMATICS | Quarterly Results | 20-Jan-22 | SCPL | Increase in Authorised Capital;General | 20-Jan-22 |
| DODLA | Quarterly Results | 20-Jan-22 | SHOPERSTOP | Quarterly Results;General | 20-Jan-22 |
| HATSUN | Quarterly Results | 20-Jan-22 | SOUTHBANK | Quarterly Results | 20-Jan-22 |
| HAVELLS | Quarterly Results | 20-Jan-22 | SPARCSYS | Quarterly Results;General | 20-Jan-22 |
| HINDUNILVR | Quarterly Results | 20-Jan-22 | SPMLINFRA | Preferential Issue of shares | 20-Jan-22 |
| HITECH | Quarterly Results | 20-Jan-22 | VIMTALABS | Quarterly Results | 20-Jan-22 |
| KHAICHEM | Quarterly Results | 20-Jan-22 | VSTIND | Quarterly Results | 20-Jan-22 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| HCLTECH | 20-Jan-22 | Interim Dividend – Rs. – 10.0000 | VGIL | 20-Jan-22 | Right Issue of Equity Shares |
| MAHACORP | 20-Jan-22 | E.G.M. | VIDLI | 20-Jan-22 | Right Issue of Equity Shares |
| MANVIJAY | 20-Jan-22 | Right Issue of Equity Shares | VISAGAR | 20-Jan-22 | Stock Split From Rs.2/- to Rs.1/- |
| RAILTEL | 20-Jan-22 | Interim Dividend – Rs. – 1.7500 | VISAGAR | 20-Jan-22 | Bonus issue 1:2 |
| SIEMENS | 20-Jan-22 | Final Dividend – Rs. – 8.0000 | WIPRO | 21-Jan-22 | Interim Dividend – Rs. – 1.0000 |
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