Morning-Outlook-Feature-Image
Outlook

NIFTY:

NIFTY opened at 17244.50 with a gap up of just 41 points. The index recorded its intraday low at 17238.50 in its early trade and rallied higher. Prices have seen a sharp up move within the first 30 minutes of trading, broke above 17300,and then rallied further to record its intraday high at 17400.80. Prices have spent its second half moving sideways and narrow and finally closed at 17354.05 near its daily highs with a gain of 150.10 points or 0.87% up. All the sectoral indices have closed with gains. The IT sector underperformed and ended with marginal gains. The rest of the sectors have gained nearly 1% or higher.

We should only take trades on the long side as far as the index is trading above 17200. The previous resistance zone inside 17150 – 17200 should now act as a support level. While psychological resistance should come around 17500. The long-term trend is down while the long-term momentum has bounced up from the weak zone and is now heading towards the strength zone. The Intermediate trend is up while the intermediate momentum has reached with in the strength zone. Both the momentums have aligned on the upside suggesting higher levels are ahead.

BANK NIFTY:

BANK NIFTY opened at 35114.40 without any gap up. However, the index started moving higher from its opening tick and saw a sharp rally o about 400 points in just one hours. The index recorded its intraday low at 35113.75 and its intraday high at 35596.95. Prices have consolidated in most part of today’s trading session and finally closed at 35503.20 with a gain of 372 points. PSU and PVT BANKS both have performed well today and closed with a gain of 1.61% and 1.05% respectively. Within the index, in terms of points, HDFC BANK contributed the highest while RBL BANK contributed the lowest.

We have been mentioning that the index is moving very narrow. That narrow movement resolved on the upside. The short-term trend is now upward it will be up as long as prices are trading above 35000.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
BHARTIARTL 683 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 685 with a stop loss of 675 and for the target of 695.
HINDUNILVR 2360 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 2365 with a stop loss of 2340 and target  of 2410.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
POLYCAB  2460 CE BUY 97 70 150 65 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
AUBANK.Jan 27 1039.75 0.01 2999.15 3641500 NTPC.Jan 27 123.5 -2.64 742.42 53876400
ALKEM.Jan 27 3645.2 0.12 217.23 320400 RBLBANK.Jan 27 127.4 -2.23 551.88 33158600
GRANULES.Jan 27 338.1 0.13 1903.27 13289700 GMRINFRA.Jan 27 45.95 -1.61 2922.5 1.36E+08
METROPOLIS.Jan 27 3453.35 0.15 431.77 522200 CUB.Jan 27 135.5 -0.48 1885.21 9584600
WHIRLPOOL.Jan 27 1766.2 0.26 1720.41 892000 POWERGRID.Jan 27 205.25 -0.34 1309.87 28947524
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
FINNIFTY.Jan 25 17400 0.44 -9.3 1560

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Honeywell Auto India Ltd 42170.95 2.72 9533 3922 80.63 Nifty 50 17354.05 0.87 25662532
City Union Bank Ltd. 134.65 -0.96 1552392 1082910 79.85 Nifty Bank 35481.7 1.19 12562463
Hindustan Unilever Ltd 2360.15 1.49 1123597 719426 70.62 Nifty it 38701 0.11 811421
Hero Motocorp Limited 2462.1 1.24 253608 80927 69.79 Nifty Realty 484.15 1.21 9.19E+08
Infosys Limited 1887.75 -0.27 4619420 3135757 68.83 Nifty Pharma 14223 0.62 31298571
Larsen & Toubro Limited 1895.9 0.54 1145546 705848 68.7 India Vix 16.22 -2.11 2.71E+08
Upl Limited 747.1 0.06 1131359 481192 67.58 Nifty Energy 22631.95 0.65 876717
Tata Consultancy Serv Lt 3738.35 0.12 1207141 727618 65.91 Nifty Fmcg 37579.95 1.36 322732
Icici Bank Ltd. 740.15 0.6 6973055 3750876 65 Nifty Auto 10936.9 1.69 40808890
Kotak Mahindra Bank Limi 1796.1 2.33 2212892 1365083 64.43 Nifty Metal 5521.75 1.94 80798819

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: Nikkei Markit Manufacturing PMI (Dec) on 3rd January, 2022

INR: Trade Balance on 3rd January, 2022

•USD: ISM Manufacturing PMI (Dec) on 3rd January 2022

•USD : Crude Oil Inventories on 5th January 2022

NEWS UPDATES

  • India’s fiscal deficit in April-November, the first eight months of current fiscal year, narrowed to 46.2% of the full-year budgeted target, helped by a rise in tax collections, government data showed on Friday. The fiscal deficit had surged to 135.1% of the full-year target during the same period last fiscal year. The fiscal deficit for eight months ending November stood at Rs 6.96 trillion ($93.7 billion) against Rs 15.07 trillion target for the whole fiscal year, the data showed.

  • China will cut its subsidies on new energy vehicles (NEV), such as electric cars, by 30% next year, the Finance Ministry said on Friday.

  • Tech Mahindra on Friday said it has approved a proposal for the acquisition of a 100 per cent stake in Allyis India and Green Investments, for a total consideration of up to USD 125 million. The acquisition is expected to bolster Tech Mahindra’s capabilities in digital experience solutions – learning and development, marketing, instructional design; and engineering – cloud and automation, analytics, and technical support services.

  • Hindustan Unilever (HUL) said on Friday that it will supply its products uninterrupted, clarifying that it had no exclusive deals with organised online businesses that traditional distributors allege are being favoured unfairly.

  • Cadila Healthcare on Friday said its US arm Zydus Pharmaceuticals (USA) Inc has received tentative approval from the US health regulator to market generic Pimavanserin capsules, indicated for treatment of hallucinations and delusions associated with Parkinson’s disease psychosis.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
MEL General 03-Jan-22 SHIVAMAUTO General 03-Jan-22
KRETTOSYS Bonus issue;In. in Auth. Cap.;Stock  Split 03-Jan-22 SMLT Interim Dividend 03-Jan-22
SMLT Interim Dividend 03-Jan-22 ALFAVIO General 04-Jan-22
KGPETRO General 03-Jan-22 BHAGCHEM Increase in Authorised Capital;General 04-Jan-22
SHIVAMAUTO General 03-Jan-22 GENNEX General 04-Jan-22
ASHSI General 03-Jan-22 KANELIND Quarterly Results 04-Jan-22
VENLONENT General 03-Jan-22 MCCHRLS-B General 04-Jan-22
SHRIRAMEPC Preferential Issue of shares;General 03-Jan-22 MUKTA Stock  Split 04-Jan-22
MUKTA Stock  Split 04-Jan-22 MYSTICELE Stock  Split 04-Jan-22
MYSTICELE Stock  Split 04-Jan-22 NOUVEAU Stock  Split 04-Jan-22
NOUVEAU Stock  Split 04-Jan-22 STERPOW General 04-Jan-22
GENNEX General 04-Jan-22 DHRUV General 05-Jan-22
STERPOW General 04-Jan-22 KACL General 05-Jan-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
QUANTDIA 04-Jan-22 E.G.M. IPCALAB 10-Jan-22 Stock  Split From Rs.2/- to Rs.1/-
JOHNPHARMA 05-Jan-22 Stock  Split From Rs.10/- to Rs.1/- SINDHUTRAD 12-Jan-22 E.G.M.
MANGTIMBER 05-Jan-22 Amalgamation AJANTPHARM 13-Jan-22 Buy Back of Shares
MAZDOCK 06-Jan-22 Interim Dividend – Rs. – 7.1000 BHATIA 13-Jan-22 E.G.M.
IMFA 07-Jan-22 Bonus issue 1:1 INDOAMIN 13-Jan-22 Stock  Split From Rs.10/- to Rs.5/-

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