Daily Morning Outlook – 19 Jan 2017

daily report

NIFTYIt could have been an uptrend day in the Nifty but Due to downside shift in second half made the difference. Prices opened with a gap up above 8400 and then made a high near 8460 then found resistance again (same as past occasions) and came down.

This has been the story of Nifty in past week or so. Prices are finding resistance near 8450 then coming down to trade in a range which is narrowing day by day suggest a directional move soon in the index.

Market outlook is looking bullish as Budget announcement is coming closer and closer. Bank Nifty has seen a breakout from its resistance this week and looking cheerful. We may see a rally here that could also lead to a big move in the major index Nifty also.

However, this is just a scenario. Only time can tell us that what would happen in near future. Markets will do what they want but for the very short term we may see prices going higher. Therefore, look for a buying opportunity only..

BANK NIFTY: Bank Nifty had a rather bullish day due to the fact that index managed to close above yesterday’s close (in spite of dip in second half) Prices started the session with minor change but went through a rally that helped index to make a high near 19275, there it found intraday resistance and pushed down. Eventually index closed just above 19150 with a gain of 125 points. Prices have traded in a moderate range of nearly 200 points.

On the daily charts, index is slowly but steadily inching higher near the next resistance level of 19350 after a successful breakout. We had suggested a long trade above 19150 which was executed yesterday.

Traders were advised to hold these positions with a stop loss near 18900. Prices made a low near 19070 so this trade is still going on. Trend is up in the Bank Nifty and our view is also bullish. Therefore, traders should again hold on to these long positions with a same stop loss of 18900.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE
AMBUJACEM 218 BUY Intermediate and short term trend is sideways in AMBUJACEM. The price of this stock has seen a small trading range breakout and closes higher. We may see an upside big move from the current level. Buy this stock above 219. If this trade executes then place your stop just below 215 and a target near 227
SIEMENS 1188 BUY Intermediate trend is sideways and short term trend is up in SIEMENS. We have seen a breakout from a large trading range in this stock. Prices are consolidating and close higher. We may see higher price from here. Buy this stock above 1189. If this trade executes then place your stop just below 1170 and a target near 1227.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
SINTEX JAN FUT BUY 88.5 CMP 85 96 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
TATAELXSI.17.01 Jan 1522.05 6.81 9.74 1329200 JSWENERGY.17.01 Jan 61.8 -3.81 3.03 37224000
JUBLFOOD.17.01 Jan 885.35 6.61 0.11 2377000 PCJEWELLER.17.01 Jan 379.45 -3.18 8.07 1125000
EXIDEIND.17.01 Jan 190.25 4.16 3.07 12496000 PFC.17.01 Jan 133.5 -2.87 0.4 16560000
SINTEX.17.01 Jan 88.5 3.93 1.86 25343625 RECLTD.17.01 Jan 138.8 -2.7 2.34 26214000
ULTRACEMCO.17.01 Jan 3513.1 3.89 4.14 2537600 IDEA.17.01 Jan 67.15 -2.18 3.19 94808000
Short Covering Long Unwinding
Stocks Price Price% OI OI% Stocks Price Price% OI OI%
NIITTECH.17.01 Jan 4.64 -0.86 868500 435.3 PTC.17.01 Jan 83 -2.41 -3.44 16624000
IBREALEST.17.01 Jan 4.34 -2.35 29950000 83 MRF.17.01 Jan 52950 -1.46 -1.21 35475
JINDALSTEL.17.01 Jan 3.61 -1.18 52569000 80.45 JUSTDIAL.17.01 Jan 364.55 -1.15 -1.44 4180800
MINDTREE.17.01 Jan 2.81 -0.18 2706000 496.5 DHFL.17.01 Jan 284.05 -0.73 -3.22 16689000
GRANULES.17.01 Jan 2.19 -2.65 10455000 114.35 M&MFIN.17.01 Jan 295.5 -0.71 -2.78 11910000

Top Delivery Percentage

Stocks Price %Chg Vol Delivery Del % % Change
Sectors Price Change % Quantity
HCL Technologies Ltd. 844.05 0.75 1084391 1706816 83.27 Nifty 50 8417 0.23 89952
TATA CONSULTANCY 2295.1 0.72 1568287 1211234 80.48 Nifty Bank 19164.5 0.51 90084
TITAN COMPANY LIMITED 367 1.96 865079 1037279 74.42 Nifty IT 10231.6 0.24 90084
MARICO LIMITED 259.9 1.54 1021462 1043022 74.34 Nifty Energy 10403.9 -0.4 90084
Indian Oil Corp. Ltd. 348.6 -0.71 3880988 2120634 74.3 Nifty Pharma 10452.45 0.25 90084
Sun Pharma  Ltd 649.95 0.04 4013631 2218625 73.55 Nifty Realty 182 0.05 90084
HDFC Bank Ltd. 1242.6 0.33 1153222 645873 72.58 Nifty Infrastructure 2878.75 -0.13 90084
Power Grid Corporation o 198.45 0.35 11941771 4096953 71.45 Nifty PSU Bank 3126.35 0.66 90084
Mah & Mah Ltd. 1214.6 0.84 979188 342200 71.44 Nifty Auto 9644.8 0.03 90084
Bharti Airtel Limited 313.9 -1.44 3307754 1277159 69.09 Nifty Metal 3006.55 2.36 90084

Upcoming Economic Data

                                      Domestic                                                                                                                            International     
•Union Budget 2017-18 on 1st Feb, 2017.

•RBI Monetary Policy on 08th Feb, 2017

•US Crude Oil Inventories data on 19th Jan, 2017.

•US Existing Home Sales data (Dec) on 24th Jan, 2017.

Corporate News

•Tata Realty and Infrastructure Ltd is taking 10 per cent stake in a Rs 5,900-crore floating LNG import terminal being set up by Nikhil Merchant-led Swan Energy in Gujarat.

•Private equity firm Warburg Pincus has acquired 14% stake in multiplex major PVR for Rs 820 crore . While promoter Ajay Bijli has sold 5% stake in the company, Multiples Alternate Asset Management (Multiples), promoted by the former ICICI Venture honcho Renuka Ramnath, has sold 9% in PVR.

•Tata Motors Ltd. has launched the Hexa sport utility vehicle, with prices starting at Rs 11.99 lakh and going up to Rs 17.49 lakh ex-showroom Delhi.

•Ashok Leyland has launched Guru, an intermediate commercial vehicle (ICV), and also the new version of its light commercial vehicle ‘Partner’ in the country.

Source: Economic Times, Business Standard

Board Meetings

Company Name Purpose Meeting Date Company Name Purpose Meeting Date
AXISBANK Results 19-Jan-17 GALLISPAT Results 19-Jan-17
YESBANK Results 19-Jan-17 ALEMBICLTD Results 19-Jan-17
UJJIVAN Results 19-Jan-17 DBCORP Results/Dividend 19-Jan-17
TMRVL Results 19-Jan-17 ATUL Results 20-Jan-17
PNEUMATIC Results 19-Jan-17 VSTIND Results 20-Jan-17
SHRIRAMEPC Issue of Securities 19-Jan-17 SINTEX Results 20-Jan-17
MINDTREE Results/Dividend 19-Jan-17 RALLIS Results 20-Jan-17
LAKSHVILAS Results 19-Jan-17 PRECOT Results 20-Jan-17
HESTERBIO Results 19-Jan-17 ORIENTPPR Results/Others 20-Jan-17
FEDERALBNK Results 19-Jan-17 SBBJ Results 20-Jan-17
GNA Results 19-Jan-17 RBLBANK Results 20-Jan-17

Corporate Action

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
APARINDS Buy Back of Shares 19-Jan-17 SANGUI Consolidation of Shares 19-Jan-17
CYBERMAT Reduction of Capital 19-Jan-17 BANCOINDIA Interim Dividend – Rs. – 5.0000 20-Jan-17
ISGEC Interim Dividend – Rs. – 15.0000 19-Jan-17 NARBADA Reduction of Capital 20-Jan-17
NHPC Interim Dividend – Rs. – 1.7000 19-Jan-17 BAJAJCORP Interim Dividend – Rs. – 11.5000 23-Jan-17
NUTRA Bonus issue 1:10 19-Jan-17 TCS Interim Dividend – Rs. – 6.5000 23-Jan-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


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