NIFTY opened at 16824.25 with a big gap down of 161 points. The index recorded its intraday high at 16840.10 within the first five minutes of trading and then started drifting downwards. A sharp decline of more than 400 points came in the first half of today ‘s trading session. The index recorded its intraday low at 16410.20 in the afternoon and then started a V-Shaped reversal. The index rallied more than 200 points in the second half, recovered almost one-third of losses, and finally closed at 16614.20 with a loss of 371points or  2.18% down. All the sectoral indices have closed lower today. BANK,FINANCIAL,META L, and REALTY led the bears today and closed with big losses. The PHARMA and FMCG outperformed today but ended with minor losses.

The long-term trend is down while the long-term momentum is moving down and almost reaching the weak zone. The Intermediate trend is down while the intermediate momentum has moved up today from the weak zone. Both the momentums have started contradicting each other suggests we may see a process of consolidation here.


BANK NIFTY opened at 35124.35 with a big gap down of 555 points. The index record edits intraday high at 35231.10 and continued moving downwards. The decline brought prices to its intraday low at 34018.45 in the afternoon and then prices have started a process of recovery. The index finally closed at 34439.45 with a loss of 1240 points.

PSU BANKS have continued its underperformance and closed with a loss of 4.45%.PVT BANKS have also moved down and ended lower by 3.28%.Within the index, in terms of points, HDFC BANK contributed the highest on the downside followed by ICICIBANK.

We may see a process of consolidation within 34000 – 35500 zone. These levels are likely in nature and need to be confirmed by the prices in near future but the theme is intact. We have seen a sharp move of more  than 3000 points which is more than 8% in last three trading days and this expansion should lead prices into a process of consolidation.


PIDILITEIND 2405 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 2410 with a stop loss of 2370 and for the target of 2460.
TATAMOTOR 447 SELL The  immediate trend of the script is bearish. There is a negative cross over of moving averages  as well as of the indicators therefore  it can be sold below 444 with a stop loss of 452 and target  of 420.


Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
TATASTEEL 1060 PE BUY 23 CMP 11 45 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
POWERGRID.Dec 30 203.6 0.05 15.85 21241339 AUBANK.Dec 30 1001.25 -10.13 4.79 3432500
PIDILITIND.Dec 30 2401.55 0.29 2.93 2206500 DELTACORP.Dec 30 255.9 -7.48 3.45 14018500
AUROPHARMA.Dec 30 686.15 0.85 0.36 14874600 BANDHANBNK.Dec 30 247.5 -7.46 7.36 25225200
GLENMARK.Dec 30 488.8 1.21 1.13 10046400 RBLBANK.Dec 30 167.45 -6.77 0.86 30342700
ASTRAL.Dec 30 2093.25 -6.56 8.44 526350
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
LUPIN.Dec 30 876.4 0.14 -3.29 7856550 FSL.Dec 30 153.9 -7.93 -2.35 7137000
DRREDDY.Dec 30 4564.45 0.68 -0.58 2599250 LTTS.Dec 30 5044.9 -7.79 -4.92 537600
HINDUNILVR.Dec 30 2269.95 1.42 -0.89 10392000 IBULHSGFIN.Dec 30 216.35 -7.58 -6.61 27329600
APLLTD.Dec 30 766.85 2.47 -0.8 1629650 INDIGO.Dec 30 1818 -7.11 -3.27 3197250
CIPLA.Dec 30 893.5 3.81 -0.48 11302200 IEX.Dec 30 239.3 -6.76 -2.7 34192500


Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Sun Pharma  Ltd 763.95 -0.65 7474026 0 71.96 Nifty 50 16614.2 -2.18 77241
Hdfc Ltd. 2550.3 -2.56 3483707 0 71.93 Nifty Bank 34439.85 -3.31 77241
Max Financial Services l 934.3 -1.27 372744 0 67.78 Nifty it 35916.45 -2 77241
Dabur India Ltd. 558.2 -1.16 1332911 0 67.67 Nifty Auto 10405.3 -2.56 77244
Colgate Palmolive (india 1415.8 -0.92 490526 0 67.58 Nifty Metal 5269.6 -3.78 77244
Icici Lombard General In 1351.4 -0.54 652830 0 67.57 India Vix 18.97 16.1 77238
Gail (india) Limited 125.95 -2.74 13206589 0 66.49 Nifty Pharma 13184.45 -0.35 77244
Britannia Ind Ltd. 3471.9 -1.82 382144 0 66.49 Nifty Fmcg 36084.65 -0.97 77244
Petronet Lng Limited 211.7 -1.85 1722354 0 65.59 Nifty Realty 452.65 -4.9 77244
Sbi Life Insurance Compa 1125.7 -1.47 1341693 0 64.06 Nifty Media 2186.8 -3.94 77244


   Domestic                                                                                                                                                  International
INR: FX Reserves, USD on 24th December, 2021

INR: Deposit and Bank Loan Growth Rate on 24th December, 2021

•USD: GDP (QoQ) (Q3) on 22nd December, 2021

•USD: Existing Home Sales (Nov) on 22nd December, 2021


  • Japan’s Osaka Gas Co said on Monday it has entered India’s urban gas distribution market by investing in the local unit of Singapore-based AGP International Holdings (AG&P) as part of its overseas expansion drive. Demand in India’s natural gas market is set to surge as the government wants to raise the share of the cleaner fuel in its energy mix to 15% by 2030 from the current 6% to combat climate change.

  • Adani Transmission Limited (ATL) on Monday said it has completed the construction of one of the India’s longest intra-state transmission lines of 897 circuit km. The transmission line, set up by ATL subsidiary Ghatampur Transmission Ltd (GTL) will connect Ghatampur thermal power station in Kanpur district to Hapur substation in western Uttar Pradesh, the company said in a statement.

  • Global engineering and product development digital services firm Tata Technologies on Monday said it has been selected by European aerospace major Airbus as a strategic supplier. The company will become engineering, manufacturing engineering and services strategic supplier (EMES3), Tata Technologies said in a statement.

  • Anil Agarwal-led Vedanta Ltd has acquired Nicomet, a Nickel and Cobalt producer based in Goa making Vedanta the sole producer of Nickel in India. “India imports 100% of its Nickel requirements; our focus will be to boost domestic production that would fuel India’s transition to a Net Zero economy,” chairman Anil Agarwal said in a release on Monday.

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


Company Name Purpose Ex-Date Company Name Purpose Ex-Date
AIIL General 21-Dec-21 INTEGRA Increase in Authorised Capital;Right Issue 22-Dec-21
AMARSEC General 21-Dec-21 KUMPFIN General 22-Dec-21
BHANDHOS Scheme of Arrangement 21-Dec-21 RPPINFRA Right Issue of Equity Shares;General 22-Dec-21
MKEXIM Bonus issue;Increase in Auth. Capital 21-Dec-21 SALEM General 22-Dec-21
NCLRESE Right Issue of Equity Shares 21-Dec-21 TECHNOFAB Quarterly Results 22-Dec-21
SAHYADRI Interim Dividend;General 21-Dec-21 BVCL General 23-Dec-21
TFL General 21-Dec-21 EASTWEST Issue Of Warrants;Pref.l Issue of shares 23-Dec-21
YESBANK General 21-Dec-21 EMMSONS Audited Results 23-Dec-21
AMARNATH General 22-Dec-21 GAIL Interim Dividend;General 23-Dec-21
ANUPAM Bonus issue;Increase in Auth.Capital 22-Dec-21 RADHEDE General 23-Dec-21
BIRLAMONEY General 22-Dec-21 SIMPLEX Audited Results 23-Dec-21
CEINSYSTECH Preferential Issue of shares;General 22-Dec-21 TWL Quarterly Results 23-Dec-21
DEEPAKNI General 22-Dec-21 UHZAVERI Preferential Issue of shares 23-Dec-21


Company Name Ex-Date Purpose Company Name Ex-Date Purpose
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/-
PRECWIRE 22-Dec-21 Stock  Split From Rs.5/- to Rs.1/- NEOGEN 23-Dec-21 E.G.M.

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