Daily Morning Outlook – 31 Jan 2017

market research

NIFTYAfter a big expansion it was more of consolidation day , nifty opened with some negative point and traded between( 8660-8620) through out the session and close at 8632.75 at the end. Among sector-specific stocks, telecommunications, electronics  were among the top gainers, while selected PSU and steel were among the top losers.

SHORT TERM

We are long in the index from 8512 and have suggested exiting today morning. Prices open and settle near 8633 so we have exited here with a gain of almost 121 points.

Now we are advising our readers to stay away from the index and wait for the Budget.

INTERMEDIATE TERM

Intermediate Traders are long in the index with NIFTY Call Option Strike 8600 for February expiry. Entry price for this call option comes at 161. Hold onto this trade.

TOMORROW: FOR INTRADAY TRADERS

Intraday price action was bearish today as prices have made its high near the open and day low near the close. The index is trading very narrow. We are advising intraday traders to avoid trading in the index.

BANK NIFTY: Bank Nifty opens near yesterday close. Prices traded very choppy and narrow today and remains in a range of just 206 point. The index closes near 19590 with a loss of almost 112 points.

The index has witnessed a rally of more than 1000 points in last week. So this narrow movement was expected which we had also discussed in our previous letter. As the Union Budget is schedule on February 1, we may see this narrow movement till the budget presented.

We are long in the index from 19170 and have suggested exiting today morning. Prices open and settle near 19720 so we have exited here with a gain of almost 550.

Now we are advising our readers to stay away from the index and wait for the Budget.

TECHNICAL PICKS

COMPANY NAMEc CMP B/S RATIONALE
RELIANCE 1045 BUY Intermediate trend is up in RELIANCE. The stock has seen a sharp correction and then started trading range bound. Today’s higher closing suggests that the correction seems over here and we may see an upside rally here. Buy this stock above 1047. If this trade executes then place your stop just below 1035 and a target near 1060.
SIEMENS 1178 BUY Intermediate Trend is up in SIEMENS. The stock has seen an upside rally and then started trading range bound. Prices are now at the verge of breakout from this range. Buy this stock above 1185. If this trade executes then place your stop just below 1170 and a target near 1215.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
IOC FEB FUT BUY 366 ABOVE 368 360 385 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
IDEA.17.02 Feb 97.3 26.94 14.66 1.23E+08 INFRATEL.17.02 Feb 329.35 -7.55 30.83 7441600
RCOM.17.02 Feb 34.6 11.08 5.53 1.13E+08 TORNTPOWER.17.02 Feb 196.9 -3.5 10.86 3429000
BHARTIARTL.17.02 Feb 345.85 6.91 14.7 39225800 MRF.17.02 Feb 52101 -2.67 10.28 33960
BAJFINANCE.17.02 Feb 1060 6 12.48 6744500 PETRONET.17.02 Feb 385.6 -2.43 8.79 5845500
ABIRLANUVO.17.02 Feb 1443.15 4.93 5.58 3142800 PFC.17.02 Feb 133.6 -2.34 3.4 15876000
Short Covering Long Unwinding
Stocks Price Price% OI OI% Stocks Price Price% OI OI%
EXIDEIND.17.02 Feb 2.04 -2.77 9820000 202.6 CEATLTD.17.02 Feb 1181.5 -2.56 -1.47 1782900
IBULHSGFIN.17.02 Feb 1.84 -0.48 14867200 762.1 JUBLFOOD.17.02 Feb 864.7 -2.09 -0.32 2048500
BANKINDIA.17.02 Feb 1.7 -0.03 20598000 119.6 ADANIPOWER.17.02 Feb 36.15 -2.03 -0.49 1.26E+08
RELIANCE.17.02 Feb 1.67 -0.94 22082500 1047.45 SUNTV.17.02 Feb 532.5 -1.39 -2.8 8732000
UPL.17.02 Feb 1.21 -0.94 5682000 742 KSCL.17.02 Feb 467 -1.37 -1.55 2470500

Top Delivery Percentage

Stocks Price %Chg Vol Delivery Del % % Change
Sectors Price Change % Quantity
TATA CONSULTANCY SER 2332.9 -1.06 1288978 1211620 84.38 Nifty 50 8632.75 -0.1 87663
Godrej Cons Products Ltd 1604.35 3.54 392285 212508 79.57 Nifty Bank 19585.25 -0.62 87660
IBULHSGFIN 766.75 1.78 3292077 1788276 79 Nifty IT 10170.65 -0.11 87660
HDFC Ltd. 1371.9 -0.13 2427494 3096781 77.08 Nifty Energy 10765.3 0.28 87660
HCL Technologies Ltd. 840.25 -0.47 949534 1039042 76.99 Nifty Pharma 10412.15 0.43 87660
Oracle Fin Serv Soft Ltd 3338.85 -0.54 33055 47747 75.47 Nifty Realty 180.7 -0.39 87660
Hindustan Unilever Ltd 853.55 -0.28 600766 952420 74.85 Nifty Infrastructure 2957.7 0.94 87660
Apollo Hospitals Ltd 1239.6 0.57 197401 186139 73.97 Nifty PSU Bank 3223.1 -0.34 87660
HDFC Bank Ltd. 1284.95 -0.54 1329907 1236374 72.17 Nifty Auto 9928.65 -0.86 87660
Infosys Limited 949.35 0.76 5684604 3829337 72.01 Nifty Metal 3104.6 -0.16 87660

Upcoming Economic Data

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

•RBI Monetary Policy on 08th Feb, 2017

Corporate News

•Tech Mahindra’s profit on consolidated basis rose 31.3 percent sequentially to Rs 845 crore in the quarter ended December 2016, led by higher revenue & other income, and lower tax cost. Dollar revenue during the quarter grew by 4.1 percent to USD 1,116.1 million and rupee revenue increased 5.4 percent to Rs 7,557.5 crore compared with previous quarter.

•Piramal Enterprises UK-based critical care subsidiary entered into an agreement to acquire a portfolio of spasticity and pain management drugs from US-based Mallinckrodt for USD 171 million in an all-cash deal.

• HDFC  Ltd  proposes to raise Rs 35,000 crore through NCDs to fund business expansion.

Source: Economic Times, Business Standard

Board Meetings

Company Name Purpose Meeting Date Company Name Purpose Meeting Date
BAJAJ-AUTO Results 31-Jan-17 IOC Results 31-Jan-17
BAJAJHLDNG Results 31-Jan-17 JSWSTEEL Results 31-Jan-17
CADILAHC Results 31-Jan-17 KANSAINER Results 31-Jan-17
CAPF Results/Others 31-Jan-17 KSCL Results/Others 31-Jan-17
CENTURYPLY Results 31-Jan-17 MPHASIS Results 31-Jan-17
CENTURYTEX Results 31-Jan-17 NAVNETEDUL Results 31-Jan-17
DABUR Results 31-Jan-17 OIL Results 31-Jan-17
GHCL Results/Dividend/Buyback 31-Jan-17 ONGC Results/Dividend 31-Jan-17
HCL-INSYS Results 31-Jan-17 SRTRANSFIN Results 31-Jan-17
ICICIBANK Results 31-Jan-17 TCIEXP Results/Dividend 31-Jan-17
IDFC Results/Others 31-Jan-17 WELSPUNIND Results 31-Jan-17

Corporate Action

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
DBCORP Interim Dividend – Rs. – 4.0000 31-Jan-17 ASHOKA Interim Dividend – Rs. – 0.8000 2-Feb-17
PERSISTENT Interim Dividend – Rs. – 6.0000 31-Jan-17 BEL Interim Dividend – Rs. – 3.0000 2-Feb-17
SIEMENS Dividend – Rs. – 6.0000 31-Jan-17 GAIL Interim Dividend – Rs. – 8.5000 2-Feb-17
GMM Interim Dividend – Rs. – 0.7000 1-Feb-17 GANDHITUBE Interim Dividend – Rs. – 9.0000 2-Feb-17
HCLTECH Interim Dividend – Rs. – 6.0000 1-Feb-17 IIFL Interim Dividend – Rs. – 4.5000 2-Feb-17
RBL Interim Dividend – Rs. – 6.0000 1-Feb-17 IRB Interim Dividend – Rs. – 2.0000 2-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


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