MARKET OUTLOOK – 06 Feb, 2017

share market view

NIFTY:

Nifty opened with a  flat note and traded in a narrow range between( 8710-8750) mostly on the lower side, before ending the session on a positive note. The index edged 6.70 points higher to end the day at 8,740. Among the specific sectors, banking, infrastructure, IT, petrochemicals emerged top gainers, while steel sector were witness of profit booking.

SHORT TERM

We now have a swing trade in the Nifty. We are buyers above 8758 (Nifty Cash). Our stop will be 8684. Our risk is 76 points. If this breakout is genuine, we could slowly see the Nifty try to touch 9000. (also, remember, the markets can do anything. They can also COME DOWN!)

TOMORROW: FOR INTRADAY TRADERS

There is a bullish bias on Monday. Consider buying Nifty as well as bank Nifty for intra day on dips and consolidation.

BANK NIFTY:

Our view has been that the Bank Nifty could outperform in the next few days. This seems to be working out.

While the Bank Nifty has been maintaining its momentum, the Nifty has gone into a contraction. A breakout in the Nifty should enable the banks to move higher.

We feel there is an opportunity to buy the Bank Nifty on Monday, for a quick, swing trade.

Consider buying the Bank Nifty on Monday, above 20200. Your stop is 20005. Please follow the 15 minute rule to buy. Wait till 9.30 AM. Then buy above the high of the first 15 minutes. This high should be 20200 or higher. If the high is not crossed, then you wait. Once you are long, your stop is still 20005.

Monday is a good day to trade the Bank Nifty intra day also. Look for intra day consolidations or dips for a buying opportunity.

Traders must remember that the suggestions for Monday are based on chart patterns visible on Friday evening. Much can happen over the weekend. If conditions remain normal, Monday is a buy day.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE
BIOCON 1058 BUY

Intermediate trend is up in BIOCON. The stock has seen an upside channel and making higher high. We may see a big move here from current level. Buy this stock above 1060. If this trade executes then place your stop just below 1030 and a target near 1120.

COALINDIA 326 BUY

Intermediate and short term trend is up in COALINDIA. The stock has seen a trading range breakout. We may see prices higher from current level. Look for the long side in this stock. Buy this stock above 327. If this trade executes then place your stop just below 320 and a target near 341.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
SIEMENS FEB FUT BUY 1192.95 ABOVE 1195 1180 1215-1230 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
GRANULES.17.02 Feb 128.65 10.38 18.58 10660000 VEDL.17.02 Feb 251.8 -3.34 0.46 40547500
STAR.17.02 Feb 1200.25 10.25 0.37 1910000 JETAIRWAYS.17.02 Feb 377.65 -2.28 15.26 5310000
UNIONBANK.17.02 Feb 161.4 9.57 1.78 17640000 BOSCHLTD.17.02 Feb 22478.75 -2.14 4.55 76475
RCOM.17.02 Feb 36.75 8.25 5.8 1.11E+08 TITAN.17.02 Feb 381.5 -2.13 0.04 6987000
TV18BRDCST.17.02 Feb 39.5 6.76 5.38 93840000 DABUR.17.02 Feb 269.45 -2 5.27 12777500
Short Covering Long Unwinding
Stocks Price Price% OI OI% Stocks Price Price% OI OI%
SUNTV.17.02 Feb 22.74 -7.51 8452000 678.7 CAIRN.17.02 Feb 276.85 -2.88 -0.63 23331000
JINDALSTEL.17.02 Feb 6.22 -6.94 44037000 91.4 IBREALEST.17.02 Feb 80.2 -1.66 -3.19 30670000
ANDHRABANK.17.02 Feb 5.68 -2.24 19640000 56.75 IRB.17.02 Feb 234.6 -1.37 -2.32 8542500
ORIENTBANK.17.02 Feb 4.54 -19.36 13620000 130.2 JSWSTEEL.17.02 Feb 191.95 -1.31 -1.52 50640000
RELCAPITAL.17.02 Feb 4.03 -3.34 11170500 492 JISLJALEQS.17.02 Feb 96.65 -1.23 -0.2 39780000

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Vol Delivery Del % % Change
Sectors Price Change % Quantity
Hindustan Unilever Ltd 849.75 0.53 999913 1271859 78.62 Nifty 50 8740.95 0.08 30585672
HDFC Ltd. 1397.45 -0.27 2144208 1779225 76.16 Nifty Bank 20196.8 0.63 13254449
ASIAN PAINTS LIMITED 985.9 -0.31 465754 1030123 75.44 Nifty IT 10025.8 1.01 1047463
Power Grid Corporation o 201.7 -1.1 2519680 3260367 74.56 INDIA VIX 13.13 -2.88 2E+08
BHARTI INFRATEL LIMITED 299.85 2.51 7370171 5686782 73.81 Nifty Pharma 10555 1.47 25366098
Britannia Ind Ltd. 3230.85 0 135664 165209 71.55 Nifty Realty 190.4 0.87 1.4E+09
Dabur India Ltd. 268.2 -2.06 2088875 1082640 70.88 Nifty Infrastructure 2989.25 0.36 89448491
Reliance Industries Ltd 1033.65 -0.94 3021751 1469840 70.67 Nifty Auto 9975.1 -0.83 26686727
IndusInd Bank Ltd. 1303.2 1.5 1485304 1102671 66.26 Nifty Metal 3128.7 -0.6 85062635
Page Industries Limited 14237.8 -0.31 6015 5739 66.09 Nifty Commodities 3381.35 -0.22 8812637

UPCOMING ECONOMIC DATA

                                      Domestic                                                                                                     International                      
•RBI Monetary Policy on 08th Feb, 2017

•CPI Data on 13th Feb, 2017

•WPI Data on 14th Feb, 2017

•US Crude Oil Inventories  on 8th Feb, 2017

CORPORATE NEWS

•Lupin has received final approval from the US health regulator to market its generic version of Mylan’s triamcinolone acetonide cream used for treatment of skin disease.

•Pricol has inaugurated a new factory on the outskirts of Pune. The company expects the new facility in Phulgaon, which is spread over 6.58 acres to bring in Rs 200 crore of incremental business in the next couple of years.

• HDFC Bank has decided to steeply increase the fees for savings account holders on a slew of activities involving cash

Source: Economic Times, Business Standard

BOARD MEETINGS

Company Name Purpose Meeting Date Company Name Purpose Meeting Date
AARTIIND Results 6-Feb-17 GSPL Results 6-Feb-17
ALLSEC Results 6-Feb-17 GUJGASLTD Results 6-Feb-17
ALPA Results/Others 6-Feb-17 GULFPETRO Results 6-Feb-17
ARENTERP Results 6-Feb-17 HONAUT Results/Others 6-Feb-17
ASTRAL Results 6-Feb-17 HPL Results 6-Feb-17
AUTOAXLES Results 6-Feb-17 ISFT Results/Others 6-Feb-17
BALAMINES Results/Others 6-Feb-17 JUBLFOOD Results 6-Feb-17
BANCOINDIA Results 6-Feb-17 KAKATCEM Results 6-Feb-17
CAPLIPOINT Results 6-Feb-17 LAXMIMACH Results 6-Feb-17
CIMMCO Results 6-Feb-17 LUMAXTECH Results 6-Feb-17
DEEPIND Results/Others 6-Feb-17 MANGALAM Results/Others 6-Feb-17

CORPORATE ACTION

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
CHOLAINV Interim Dividend – Rs. – 3.5000 6-Feb-17 IMPAL Interim Dividend – Rs. – 5.0000 7-Feb-17
GODREJCP Interim Dividend – Rs. – 1.0000 6-Feb-17 INDNIPPON Interim Dividend – Rs. – 4.0000 7-Feb-17
SHREECEM Special Dividend – Rs. – 100.0000 6-Feb-17 KKCL Interim Dividend – Rs. – 8.5000 7-Feb-17
ADVANIHOTR Interim Dividend – Rs. – 0.4000 7-Feb-17 ONGC Interim Dividend – Rs. – 2.2500 7-Feb-17
DAAWAT Stock  Split From Rs.10/- to Rs.1/- 7-Feb-17 TCIEXP Interim Dividend – Rs. – 0.8000 7-Feb-17
GRANULES Interim Dividend – Rs. – 0.2500 7-Feb-17 WENDT Interim Dividend – Rs. – 10.0000 7-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