New Week Started With Some Gains; Market Shines With Metals and Infrastructure
MARKET OUTLOOK – 21 Feb, 2017
New Week Started With Some Gains; Market Shines With Metals And Infrastructure; Short Term Trend Changes To Up From Sideways; Buying Is Suggested On Dips And Consolidation Breakouts.
NIFTY: NIFTY opens near 8820 near the yesterday close. Within first 15 min prices have seen a minor decline and then started an upside move. The index closes near its day high with a gain of 57 points.
It was an uptrend day in the index. Price action was very bullish as market closes near the highs. Every dip was a buying opportunity.
The index is now heading towards 9000. Prices are now at the verge of breakout from its previous swing high recorded at 8966 on September 7-2016.Prices may take out this high in current week.
We will discuss a long trade in NIFTY.
Day’s gain has given us a buying opportunity in the index. Idea is to wait for first 15 min. The high recorded in first 15 min will be our entry point for a long trade. If this trade executes then place a stop loss at 8800.
We do not have any new trade for intermediate traders.
FOR INTRADAY TRADERS
NIFTY has seen an upside rally and closes higher. Short term trend is up here. This rally may continue for next few trading days.
Look to buy on any intraday dips and consolidation breakout.
BANK NIFTY: BANK NIFTY opens with a minor gap down. The index traded very narrow today in a range of just 230 points and closes above 20600 with a gain of more than 125 points.
Private Sector Banks are outperforming the whole index. We should avoid trading in the PSU BANK and look for buying in PVT Banks only.
Day’s narrow range suggests a sharp move may come in the bank index. This narrow range has also opened a long trade.
Day’s gain has given us a buying opportunity in the index. Idea is to wait for first 15 min. The high recorded in first 15 min will be our entry point for a long trade. If this trade executes then place a stop loss at 20450.
|INDUSINDBANK||1336||BUY||Intermediate and short term trend is up in INDUSINDBK. The stock has seen an upside rally and then started trading narrow and range bound. A breakout may lead prices higher. Buy this stock above 1340. If this trade executes then place your stop just below 1330 and a target near 1360|
|BHEL||153||BUY||Intermediate and short term trend is up in BHEL. The stock has seen an upside rally and then started a minor correction in a shape of bullish flag. A breakout may lead prices higher. Buy this stock above 154. If this trade executes then place your stop just below 152 and a target near 158.|
|Stock Name||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|BIOCON||FEB FUT||BUY||1127.5||CMP||1110||1150-1160||OI Increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|DCBBANK.17.02 Feb||153.8||11.33||41.93||4036500||HAVELLS.17.02 Feb||414.2||-2.99||4.64||4732000|
|GMRINFRA.17.02 Feb||15.35||6.23||1.79||1.69E+08||AXISBANK.17.02 Feb||481.15||-1.91||1.74||26772000|
|RECLTD.17.02 Feb||151.3||4.78||11.87||25002000||OIL.17.02 Feb||328.1||-1.66||13.19||2411024|
|ADANIENT.17.02 Feb||97.6||3.66||3.04||23072000||BOSCHLTD.17.02 Feb||21709.6||-1.12||4.86||82575|
|TCS.17.02 Feb||2500.05||3.53||12.12||5425000||CADILAHC.17.02 Feb||444.95||-0.89||0.55||3785600|
|Short Covering||Long Unwinding|
|JINDALSTEL.17.02 Feb||7.55||-5.75||40689000||100.45||IBREALEST.17.02 Feb||77.2||-2.46||-10.27||28470000|
|KTKBANK.17.02 Feb||5.97||-8.74||19484750||122.55||MCDOWELL-N.17.02 Feb||2334.9||-1.57||-9.82||2365500|
|JUSTDIAL.17.02 Feb||5.13||-10.02||2803200||483.5||TV18BRDCST.17.02 Feb||38.65||-1.15||-2.31||91443000|
|RCOM.17.02 Feb||4.06||-7.06||96096000||34.6||CEATLTD.17.02 Feb||1121||-1.04||-13.74||2003400|
|TATASTEEL.17.02 Feb||3.69||-0.45||22182000||486.5||MARICO.17.02 Feb||266.4||-0.91||-2.2||5670600|
TOP DELIVERY PERCENTAGE
|Stocks||Price||%Chg||Vol||Delivery||Del %||% Change|
|PC JEWELLER LIMITED||382.35||0.61||445553||1208648||79.32||Nifty 50||8879.2||0.65||87225|
|Bajaj Auto Limited||2791.5||0.45||155317||326995||74.68||Nifty Bank||20677.1||0.61||87225|
|NTPC Limited||171.8||1.21||6132019||2020128||74.17||Nifty IT||10671.25||1.37||87225|
|Mah & Mah Ltd.||1315.95||-0.09||470421||645750||73.79||Nifty Pharma||10641.6||0.16||87225|
|ASIAN PAINTS LIMITED||975.75||1.56||1092302||839051||73.45||Nifty Realty||191.95||1.43||87225|
|Hero MotoCorp Limited||3102.1||0.48||197887||365972||70.68||Nifty Infrastructure||3042.2||1.04||87225|
|Reliance Industries Ltd||1075.4||-0.01||2663127||2370822||69.86||Nifty PSU Bank||3292.95||0.53||87225|
|Power Grid Corporation o||206.45||1.93||5578603||1916820||68.61||Nifty Auto||9743.95||0.62||87225|
|TECH MAHINDRA LIMITED||499.95||-0.71||2610984||1151521||68.2||Nifty Metal||3116.75||2.07||87225|
UPCOMING ECONOMIC DATA
|•Quarterly GDP (Q4) (YoY) on 28th Feb, 2017.
•IIP Data (YoY) on 10th March, 2017.
|•NTPC’s Power Management Institute will soon impart training to state discom staff across the country for capacity building under the Integrated Power Development Scheme (IPDS). The IPDS’ objective is 24×7 power supply for consumers and reduction of AT&C losses.
•Vedanta will invest USD 10 billion in 3-4 years on expanding business across verticals.
•Havells India has acquired the consumer durable business (CDB) of the Lloyd Electric and Engineering for an enterprise value of Rs 1,600 crore, giving them a foothold in the fast growing $15 billion consumer appliances market.
•DLF Ltd will invest about Rs 3,500 crore this year to complete construction of almost all of its existing housing projects.
Source: Economic Times, Business Standard
|Company Name||Purpose||Meeting Date||Company Name||Purpose||Meeting Date|
|CASTROLIND||Results/Dividend||21-Feb-17||TANTIACONS||Board Meeting Postponed||24-Feb-17|
|PAPERPROD||Results/Dividend||21-Feb-17||MALWACOTT||Board Meeting Postponed||25-Feb-17|
|KAMATHOTEL||Board Meeting Postponed||21-Feb-17||MERCK||Board Meeting Postponed||27-Feb-17|
|EMCO||Board Meeting Postponed||23-Feb-17||MANDHANA||Results||1-Mar-17|
|RAIN||Results||23-Feb-17||SUNCLAYLTD||Board meeting Rescheduled||13-Mar-17|
|MAHINDCIE||Results||23-Feb-17||SGFL||Board Meeting Adjourned||15-Mar-17|
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|CENTUM||Interim Dividend – Rs. – 2.0000||22-Feb-17||JAGRAN||Buy Back of Shares||22-Feb-17|
|CONCOR||Interim Dividend – Rs. – 9.6000||22-Feb-17||MEP||Interim Dividend – Rs. – 0.1000||22-Feb-17|
|CONTROLP||Interim Dividend – Rs. – 2.5000||22-Feb-17||MOIL||Interim Dividend – Rs. – 5.0000||22-Feb-17|
|DCMSHRIRAM||Interim Dividend – Rs. – 2.8000||22-Feb-17||NCLIND||Interim Dividend – Rs. – 1.0000||22-Feb-17|
|ELDEHSG||Interim Dividend – Rs. – 12.5000||22-Feb-17||NICCOPAR||Interim Dividend – Rs. – 0.1500||22-Feb-17|
|GREAVESCOT||Interim Dividend – Rs. – 4.0000||22-Feb-17||NRBBEARING||Interim Dividend – Rs. – 1.4000||22-Feb-17|
|HGS||Interim Dividend – Rs. – 2.5000||22-Feb-17||PODARPIG||Interim Dividend – Rs. – 2.5000||22-Feb-17|
|HITECHGEAR||Interim Dividend – Rs. – 1.2500||22-Feb-17||SJVN||Interim Dividend – Rs. – 2.2500||22-Feb-17|
|ICIL||Interim Dividend – Rs. – 0.4000||22-Feb-17||SUDARSCHEM||Interim Dividend – Rs. – 2.5000||22-Feb-17|
DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014
Elite Wealth Advisors Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Advisors Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as read more
For Daily Share Market Updates, Market Research Analysis reports, Weekly Techno-Funda Report, Fundamental Analysis Report, Monthly Recommended stock Picks, Equity Trading Tips, Upcoming IPO/NFO/Bonds/Ncd’s updates & other related information Subscribe our blog http://research.elitewealth.in
or Call us on: 011-42445800/9650901058