16:00 Hrs Update: LATEST AFTER THE BELL

Nifty (+50, 10780):

The positive takeaway from today’s trading session at Dalal Street is that the Santa Claus rally continues to keep the bullish festive sentiment alive.

And now judging by last two days trend, we suspect the jolly old man is likely to be the poster boy of the bulls camp until the new year. Well, we so because the year-end window dressing could work as the key positive catalyst.

Having said that moves from here on could be volatile and probably exaggerated as many traders are out for the holidays, and volumes are expected to be thinner.

Technically, bullish festive sentiments are likely to be alive as long as Nifty holds key support at 10501-10551 zone.

Amongst stocks looking attractive on buy side for tomorrow’s trade are ORIENTAL BANK OF COMMERCE, BATA and TITAN.

Now before we sign off for the day, let’s look at major instruments.

GLOBAL UPDATE:

DOW Futures (-304, 22568)
NASDAQ Futures (-97, 6180)
DAX (-147, 10486)
FTSE (-38, 6648)

OIL (-0.79, $45.43)
GOLD (+2, $1275)
DOLLAR INDEX (-0.29, 96.72)
COPPER (+47, 6003)

How Asia fared today:

HANG SENG (-173, 25478)
NIKKEI (+751, 20077)
SHANGHAI (-15, 2483)

SGX NIFTY (+19, 10780)
USD/INR (+0.29, 70.36)

15:00 Hrs Markets Update: Where is the Clever Money Going?

Nifty (CMP 10788, UP 59 POINTS):

Nifty consolidates near its 200 DMA at 10771-10781 zone. Hurdles seen at 10851 mark.

Probable BTST/STBT trades

Bullish looking BTST stocks: BATA, BANK OF BARODA, ORIENTAL BANK OF COMMERCE, ADANI ENTERPRISES

Bearish looking STBT stocks: BPCL, IOC.

14:00 Hrs Update: Life at Dalal Street after Europe’s Opening Bell

*The bullish festive sentiment continues to be alive as Dalal Street gets inspired by strong 5% overnight gains at Wall Street. Earlier in the day, Japanese Nikkei was seen soaring.

For the day, volatility likely to be hallmark as December F&O contract expires today. Also, moves from here on could be exaggerated as many traders are out for the holidays, and volumes are expected to be thinner.

DAX (-25, 10609)
FTSE (+17, 6703)DOW Futures (-0.54%, 23775)
NASDAQ Futures (-0.81%, 6235)

HANG SENG (-188, 25463)
NIKKEI (+751, 20077)
SHANGHAI (-15, 2483)

Nifty (+67, 10797)
Bank Nifty (-0.02%, 27025)

12:00 Hrs Update: Top Stories at Midday

(Nifty 10,803, Up 72 points): Nifty is seen trading comfortably in green taking cues from its global peers. Optimism continues to be the buzzword at Dalal Street for now.

• All the sectoral indices are in green, except PSE and Nifty Infra. Metal and mining stocks are seen struggling and being indecisive up by only 0.19%.

• The market breadth, indicating the overall health of the market is positive.

• NSE Advances 38. NSE declines 12.

• The NSE Mid-Cap index is up 0.47% at 4,849. The NSE Small-Cap index is UP 0.60%.

• In F&O space, Infosys and TCS are in green, up 2.48% & 2.77% respectively while on flip side BPCL & HPCL are down 2.17% & 2.43% respectively.

• Volatility to be expected in the market, ahead of December F&O expiry today.

10:30 Hrs Update: Pursue Opportunities in commodities

Copper rebounds after recent muted sessions.

Gold (+2.60, 1272.35). Positive Bias. Buy on corrective declines.
MCX Gold (0.02%, 31565). Hurdles at 31901. Support seen at 31000.

Silver (+0.0, 15.102). Buy on dips. Confirmation of strength above 15.05.
MCX Silver (-0.01%, 38246) Supports at 37751 and then at 36101. Hurdles at 38661.

Crude Oil (-0.49, 46.12). Oil rebounds from oversold conditions. Hurdles at 47.
MCX Crude Oil (+1.18%, 3254). Hurdles at 3451.

Copper (+0.004, 2.704). U.S- China trade truce key catalyst.
MCX Copper (+0.44%, 423.00). Support at 407. Hurdles at 436.

09:00 Hrs Market Update: WHAT CAUGHT OUR EYE AT 9

Dalal Street likely to extend yesterday’s recovery on backdrop of extremely strong global cues.

DOW FUTURES (-75, 22823) NASDAQ FUTURES (-22, 6263) SGX NIFTY (+37, 10798) NIKKEI (+723, 20050) HANG SENG (+155, 25807) SHANGHAI (+14, 2512)

Trump takes unannounced trip to Iraq.

Meanwhile. the U.S. will hold mid-level trade talks with China in early January. As per reports, the American delegation, led by Deputy U.S. Trade Representative Jeffrey Gerrish, will travel to Beijing on Jan. 7, 2019. The talks will be the first head-to-head meeting since presidents Donald Trump and Xi Jinping met at the G-20 summit in Argentina, where a 90-day tariff truce was announced earlier this month.

Bulls Vs. Bears: Time to Pick a Side!!

Preferred trade on Nifty: Nifty (10729): Buy on any weakness between 10700-10715 zone, targeting 10801 zone and then aggressive targets at 10825-10851 zone with stop at 10615.

Preferred trade on Bank Nifty (26987): Buy between 26701-26901 zone, targeting 27401 zone and then aggressive targets at 27900-28001 zone with stop at 26251.

08:00 Hrs Update: CALCULUS DERIVATIVES CORNER

• Nifty January Futures ended Wednesday’s session at a premium of +62.

• The Put- Call Open Interest Ratio was at 1.18 for Nifty whereas it was 1.08 for Bank Nifty.

• The Put-Call Volume Ratio was at 0.89 for the Nifty and 0.84 for Bank Nifty.

• For Nifty, Maximum Call Open Interest (OI) stands at 11000 Strike Price, followed by 11500 Strike Price for January Series. Call writing was seen at strike prices 10800-11000 for January Series.

• Maximum Put Open Interest (OI) was seen at strike price 10500 followed by 11000 strike price for January series. Put Writing was seen at strike prices 10400-10700 for January Series.

• For Bank Nifty, Maximum Call Open Interest (OI) stands at 27500 Strike Price and Maximum Put Open Interest stands at 27500 Strike Price.

• As per Wednesday’s Provisional Data available on the NSE, FII’s bought shares worth Rs. 80.28 crores in the Indian Equity Market. DIIs on the other hand sold shares worth Rs. 137.63 crores in the Indian Equity market.

• Long Buildup: GMR INRFA, BANK BARODA, RELIANCE, ZEEL, L&TFH.

• Short Buildup: YES BANK, SUNPHARMA, INFY, TCS, SUN TV.

• Short Covering: JSW STEEL, AXIS BANK, ADANI PORTS, TITAN, NALCO.

• Long Unwinding: DABUR, KPIT, TATACHEM, VOLTAS.

• Stocks banned in F&O segment for today: ADANI POWER.

07:00 Hrs Update: KNOW WHAT MATTERS AT DALAL STREET

Overnight, the Dow Jones index posted its biggest daily point gain ever, up 5% or +1086 points. The optimism was despite no positive news.

Our call of the day says, it’s the season of miracles. Investors will look for bargain hunting and that’s likely to be the preferred theme at Dalal Street in today’s trade.

Now before we get into detail, first things first: Let’s first look at major instruments:

GLOBAL UPDATE: DOW (+ 1086, 22878) NASDAQ (+361, 6554) SGX NIFTY (+25, 10787) NIKKEI (+542, 19869) HANG SENG (+167, 25819) OIL (-0.15, $46.07) GOLD (+2, $1274)

SUCCESSFUL INVESTING IS ANTICIPATING THE TRENDS OF:

Nifty’s Intraday Trend: Positive.
Global: Positive.
FII: Neutral.
DII: Neutral.
F&O: Positive.
‪Sentiment: Positive.

NIFTY’s CRUCIAL LEVELS FOR THE DAY:

Nifty’s CURRENT MARKET PRICE: 10,730.
Nifty’s KEY SUPPORTS: 10,691 & 10,615.
Nifty’s KEY HURDLE: 10,831 & 10,971.
Nifty’s INTRADAY RANGE: 10691-10801.
Nifty’s OUTLOOK FOR THE DAY: Positive.

Our chart of the day suggests establishing long positions in stocks like TITAN, ORIENTAL BANK OF COMMERCE and L&T FINANCIAL with interweek perspective.

IMPORTANT THEMES OF THE DAY:

Early action at SGX Nifty suggests a positive start for our stock markets. We suspect, the benchmark Nifty may trade volatile and with positive bias joining the conga-line of rising worldwide stock markets.

That said, the benchmark Nifty may trade choppy and volatile amidst December series expiry on Thursday, 27th December 2018.

Disclaimer: LotusFunds subscribers/clients may have positions in the stocks recommended in this note. Please note that the actual subscribers may receive additional information in real time not available to the viewers of this note.

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