Your best guide to financial markets

Weekly Research Reports

GROWING TOGETHER www.hpmgshares.com HPMG Wealth (weekly)

Top Sectors for the Week CONTENTS Title Page No.

HPMG Wealth (Weekly) 03-04

Top Sectors for the Week 05-14

Weekly Pivot Table (Equities) 15

Weekly Pivot Table (Commodities) 16

Disclaimer 17 HPMG WEALTH WEEKLY Let Your Money Grow Confidently !

Stock ideas backed by strong research

HPMG Wealth Weekly… Getting rich is easy with help of HPMG Wealth Weekly. This weekly research report helps you to identify the best five momentum stocks for the week. ‘Pick of the week’ is best among the mentioned five and is always with detailed ‘Technical & Macro outlook’. The trick to “Get Rich quickly and to Stay Rich forever” is a combination of alertness and awareness. With the right information on stocks from HPMG Wealth Weekly, your money is likely to grow confidently and living the “rich” life, is achievable.

GROWING TOGETHER www.hpmgshares.com HPMG WEALTH WEEKLY Monday Let Your Money Grow Confidently ! 21st December, 2020

STOCKS CMP BIAS TRADING/ INVESTMENT STRATEGY

Avanti Feeds is the leading manufacturer of shrimp feeds and Shrimp Processor with 45% market share in domestic shrimp feed market. The firm was incorporated in the year 1993 and is now having a market cap of Rs AVANTI FEEDS 550 Positive 7417 Crores. Technically, downside seen well supported at 453-469 zone. Look to buy at CMP, and on dips between 491-495 zone, targeting 587.50/601 and then aggressive targets at 621 mark. Stop below 447. Holding Period: 2-3 Months.

Infosys provides IT consulting and software services, including ebusiness, program management and supply chain solutions. The firms’ services include application development, product co-development, and system implementation and system engineering. Infosys targets businesses specializing in the insurance, banking, telecommunication and INFOSYS 1190 Positive manufacturing sectors. INFY’s solid performance across verticals continues to be the positive trigger on backdrop of revised revenue guidance for the year to 2-3% on cc basis, and also raised its operating profits margins guidance to 23- 24%. Free cash flows grew 70% YoY. Simply buy at CMP and on dips between 1121-1131 zone, targeting 1237 and then aggressive targets at psychological 1300 mark. Stop below 1109. Holding Period: 2-3 Months.

Lupin is a multinational pharmaceutical company based in Mumbai and was incorporated in the year 1983, now having a market cap of Rs 44080 Crore. Lupin's business ranges from branded and generic formulations, APIs, advanced drug delivery systems to biotechnology. The key positive catalyst is that the firm is amongst the highest LUPIN 975 Positive spenders on R&D among the generic companies and the monetization of these efforts has just begun for the company with the recent approvals of Levothyroxine, Enbrel biosimilar and gProair inhaler. Establish long positions at CMP and on dips between 930-941 zone, targeting 1029 and then aggressive targets at 1123 mark. Stop below 897.

Nucleus Software Exports is one of the leading providers of lending and transaction banking solutions to the global financial services industry was incorporated in the year 1989 and now commands a market cap of Rs 1685 Crores. The key positive catalyst is that the firms’ clients are getting more aggressive on digital spends to reduce cost. Also helping NUCLEUS 597.40 Positive growth is a range of powerful new solutions with FinnOne Neo 5 digital lending platform, myLoan, a new AI powered SOFTWARE EXPORTS conversational chatbot for loan self-service, and introduced Sales Assist to provide quick digital loan sourcing at retail stores, auto dealerships and lifestyle stores. Simply buy at CMP, targeting 687.50/755 and then aggressive targets at 821 mark. Stop below 469 Holding Period: 2-3 Months.

Sonata Software was incorporated in the year 1994 and now having a market cap of Rs 3872 Crore. The Company is primarily engaged in the business of providing Information Technology Services and Solutions to its customers in the United States of America Europe Middle East and India. We suspect, higher offshoring will benefit IT service margins SONATA SOFTWARE 368 Positive amidst improvement in contribution from top client and traction in ISV vertical, essential retail, utility and commodity service. Establish buy positions at CMP and on dips between 325-335 zone, targeting 389/401 and then aggressive targets at 421 mark. Stop below 293. Holding Period: 2-3 Months.

Analyst’s Pick: LUPIN (CMP 975). Target: 1027.50.

Lupin is a multinational pharmaceutical company based in Mumbai which was incorporated in the year 1983 and now having a market cap of Rs 44080 Crore. Lupin's business ranges from branded and generic formulations, APIs, advanced drug delivery systems to biotechnology.

The key positive catalyst is that the firm is amongst the highest spenders on R&D amongst the generic companies and most importantly, the monetization of these efforts has just begun for the company with the recent approvals of Levothyroxine, Enbrel biosimilar and gProair inhaler.

Key catalysts with long-term positives are extending US product pipeline, drug shortage opportunities in the US and a high share of branded generics on backdrop of market share gains in gProAir in the US, gEnbrel in Europe and gFostair EU approval (expected in Q4FY21). Lupin has 8-10 complex injections in pipeline, which are expected to be filed in FY22E. LPC filed ANDA on Spiriva (Tiotropium bromide) and LPC has Firstto-File status for the same expected to launch in June-CY22 due to litigation issues.

Lupin also expects many more complex approvals to come through, prominent amongst them are gDulera inhaler, gFlovent and gSpiriva inhaler.

Technically, the stock price of Lupin has sliced above the 200-days moving average (DMA) with the recent sequence of higher high intact on daily charts. The sentiment remains bullish with 50-DMA and the 100-DMA continues with its positive crossover with 200-DMA. The 200 days Exponential Moving Average (EMA) of the stock on the daily chart is currently at 901 levels. The level of Rs 901-911 zone will act as a strong support zone and any corrective declines to these levels will be a screaming buy, hence should be used as an opportunity to initiate aggressive long positions. Add to that a bullish divergence and a rising stochastic signal (on weekly charts) with recent increase in volumes signaling a larger rebound.

Establish long positions at CMP and on dips between 930-941 zone, targeting 1029 and then aggressive targets at 1123 mark. Stop below 897.

GROWING TOGETHER www.hpmgshares.com TTopop SectorsSectors forfor thethe WWeekeek

RelativeRelative StrengthStrength PPerformanceerformance withwith HPMGHPMG TTopop SectorsSectors

Top Sectors for the Week is a Technical and Macro report containing everything you need to have…a clear, precise and detailed view on the five top momentum sectors... listed in BSE. This detailed multi-analyzed Macro- Technical report is a smart way to enter or exit an outperforming or underperforming sector using the relative strength function.

Top Sectors for the Week reports have an unbeatable track record...You can look out for our previous reports at our website www.hpmgshares.com

GROWING TOGETHER www.hpmgshares.com Monday Top Sectors for the Week 21st December, 2020

Sector Analysis: Relative Strength Performance

Sectors Relative to Sensex... Outperforming stocks Underperforming stocks

BSE Auto Index NEUTRAL ESCORTS APOLLO TYRES

BSE Banks Index OUTPERFORM ICICI BANK RBL BANK

BSE IT Index OUTPERFORM INFY, HCL TECH, MINDTREE TECH MAHINDRA

BSE Healthcare Index OUTPERFORM CADILA HEALTHCARE, GLENMARK BIOCON, LUPIN

BSE Metals Index NEUTRAL HINDALCO COAL INDIA

GROWING TOGETHER www.hpmgshares.com Top Sectors for the Week

From HPMG Research Desk…

The Week That Was: FIIs’ buying lifts the benchmarks to new all-time highs!

Sensex: 46,961. Nifty: 13,761.

It was yet again a super-duper week for Indian indices as Sensex & Nifty scaled new all-time highs at 47026 & 13773. On a weekly basis, Nifty closed 1.8% higher while Sensex closed 1.9% higher.

The key positive catalysts:

1. Moderna's coronavirus vaccine was determined to be highly effective at the Food and Drug Administration. A spate of approvals for vaccines.

2. India is on a recovery path with declining COVID-19 infections.

3. Western world is seeing a strong second wave of coronavirus infections.

4. Reassurances from the Federal Reserve: The Fed has vowed once again to use all its tools to support the economy. The policy-setting Federal Open Market Committee (FOMC) signaled it plans to keep a key U.S. short-term interest rate near zero for at least the next three years, while indicating it will continue buying bonds at the current $120 billion a month pace until inflation runs above its 2% target.

Powell said he expects the economy to rebound at a healthy pace in the second half of 2021 as vaccines against the coronavirus are widely distributed.

Major credit for last week’s rally goes to FIIs’ buying yet again. Traders are seen simply riding this bullish optimistic wave as India is seen as a strong destination as is reflected in the FIIs inflow which simply seems to be unstoppable.

So far in December, FIIs net bought Rs. 38,734.10 crores worth of Indian equities —— That’s on backdrop of the highest inflow in November 2020 where FIIs net bought Rs. 65,317 crores.

Bottom-line: Nifty has ended above the 13700 milestone for the first time and Sensex touched the psychological 47000 mark. Simply put, these symbolic milestones reflect optimism for the future and most importantly, show the economy’s resilience despite the Covid-19 plague. The bulls’ have shown remarkable optimism at Dalal Street that suggests that COVID 19 is now a non-issue.

But at Wall Street, U.S. stocks ended lower on Friday, pulled down by uncertainty around a coronavirus stimulus deal. For the week, the S&P 500 was up 1.3%, the Dow was up 0.4% and the Nasdaq gained 3.1%. Wall Street’s major averages managed to score weekly gains amidst renewed hopes for another fiscal stimulus package and ongoing optimism over Covid-19 vaccine progress.

Meanwhile, the benchmarks ended 4 out of the 5 trading sessions in green! BSE Midcap Index was up 1.6% for the week while the BSE Smallcap Index too was up 1.2%. But, both the indices underperformed the benchmark Sensex.

Let’s now have a look at other catalysts from last week.

• Vaccine rollout began in the US.

• Prospects improving for a deal on a compromise aid-spending package. Democratic and Republican lawmakers in Washington were working through the weekend to complete a $900 billion coronavirus aid bill for American individuals and businesses struggling from the economic fallout of pandemic lockdowns. Both sides say they are close to a deal, but significant differences remain.

• Japan’s government raised its economic growth forecast for the next fiscal year thanks to its latest stimulus package aimed at speeding up the recovery following the damage wrought by the coronavirus pandemic.

Japanese economy is expected to grow 4.0% in price-adjusted real terms in the next fiscal year starting April 2021, the latest estimate by the Cabinet Office showed on Frida

• India’s Industrial output data shows a growth in consumer durables production surpassing the pre-covid level.

GROWING TOGETHER www.hpmgshares.com Top Sectors for the Week

• Hard lockdown likely in Germany.

• Burger King India’s shares zoomed 125% to Rs 135 on the listing day against the issue price of Rs 60. It then hit the upper circuit of 20% for two consecutive days. Burger King India’s market cap is now at Rs 6,161.81 crore.

• Mrs. Bectors Food Specialties, one of the leading companies in the premium bakery segment and a supplier to fast-food chains like Burger King, opened subscription on December 15, with the price band fixed at Rs 286-288 per share. The Rs 540.54-crore IPO received subscription of 198.02 times during December 15-17, 2020 backed by a strong response from all investors.

• Tata Group filed an Expression of Interest for Air India to the Disinvestment Ministry on last Monday and will now be expected to submit its financial bid within the next 10 days.

• Dr Reddy's gets USFDA tentative nod for diabetes drug Empagliflozin.

• Isgec Heavy Engineering has secured a new order from KPR Sugar & Apparels worth Rs 431 crore.

• Rites secured project management consulting work of Rs. 62 crore

• Finance Minister Nirmala Sitharaman last week said that the Union Budget for 2021-22 would have emphasis on sustaining high public expenditure on infrastructure to revive the economy which contracted in the first two quarters of the current financial year.

• SIP inflows hit 31-month low at Rs 7,302-cr in Nov.

• WTI crude oil prices were up 5.35%, gaining back-to-back weeks, at $49.06 mark after positive news on COVID vaccine front. The prices are now at their nine- month highs.

• Indian rupee gained by 0.22% last week against US Dollar closing at 73.575.

• Comex Gold witnessed an up move of 2.35% at $1887 in last week’s trade.

• FIIs were net buyers last week at INR 11,806.44 crores but DIIs were net sellers last week with a figure of INR 28,651.18 crores.

• Barring Auto Index, all other sectoral indices ended in green. Amongst Sectoral Indices, BSE Consumer Durables Index, BSE Capital Goods Index & BSE Realty Index gained the most, up 5.7%, 5.2% & 4.5% respectively.

• The top gainers for the week were BAJAJ FINANCE, HDFC & ONGC up 9.6%, 8.3% & 8.0% respectively.

• The top losers for the week were AXIS BANK, MARUTI SUZUKI & INDUSIND BANK down 2.8%, 2.3% & 1.2% respectively.

The Week Ahead: Volatility likely to be the hallmark amidst a holiday-shortened Christmas week.

Fiscal stimulus package and ongoing optimism over Covid-19 vaccine progress are the two key catalysts that are likely to drive sentiments at Dalal Street.

At the time of writing, all through the weekend, the Democratic and Republican lawmakers in Washington were working to complete a $900 billion coronavirus aid bill for U.S individuals and businesses struggling from the economic fallout of pandemic lockdowns. The street suspects, both sides are close to a deal, but significant differences remain. Volatility likely to be the hallmark amidst a holiday-shortened Christmas week.

We say so because the situation in US and Europe is still grim so investors need to spy with one big eye on how the new President tackles the present pandemic crisis. The alarming situation is the USA has marked more than 18.07 million COVID-19 cases so far. At the moment, more than 76,626,187 COVID-19 cases are reported around the world with 16,91,942 dead. At least 18,077,768 coronavirus cases in US, at least 3,23,401 deaths. India exceeded 10 million infections of the new coronavirus. But the positive aspect is that the pace of infections is seen slowing, despite the fact that many in the country giving up on masks and social distancing.

The Centers for Disease Control and Prevention’s Advisory Committee on Immunization Practices voted to recommend Moderna’s Covid-19 vaccine for emergency use for people ages 18 and older in the US. Dr. Anthony Fauci has said that, thanks to science, "we will crush" the Covid-19 outbreak.

GROWING TOGETHER www.hpmgshares.com Top Sectors for the Week

Well, digging deeper into the above data, the vaccines are of too little help at the moment and most importantly, too little is known about their mass effectiveness and eventual side effects.

The only positive catalyst working in favor of bulls is ‘Fear of missing out + Short covering’ on backdrop of the FIIs inflows which simply seem to be unstoppable. So far in December, FIIs net bought Rs. 38,734.10 crores worth of Indian equities

Amongst stock specific news, Reliance Industries Ltd (RIL) and bp announced the start of production from the R Cluster, ultra-deep-water gas field in block KG D6 off the east coast of India. RIL and BP are developing three deepwater gas projects in block KG D6 – R Cluster, Satellites Cluster and MJ – which together are expected to meet ~15% of India’s gas demand by 2023. These projects will utilise the existing hub infrastructure in KG D6 block. RIL is the operator of KG D6 with a 66.67% participating interest and bp holds a 33.33% participating interest. Meanwhile, we expect —— IT & Software stocks are likely to be in limelight after a US court pulled up the United States Citizenship and Immigration Services (USCIS) for denying visa to an H-1B visa holder in a “capricious and arbitrary” manner. Also, the US President-elect Joe Biden plans to increase the number of high-skilled visas, including the H-1B, and eliminate the limit on employment-based visas by country, both of which are expected to benefit tens of thousands of Indian professionals impacted by some immigration policies of the outgoing Trump administration. INFOSYST & HCL TECH are our preferred bets on the buy side. Amongst mid-cap stocks, we like NUCLEUS Software with inter-month perspective.

IPO Note:

The Rs 300-crore initial public offering of Antony Waste Handling Cell will open for subscription on December 21 and the same will close on December 23. The price band for the issue has been fixed at Rs 313-315 per share. The IPO comprises a fresh issue of Rs 85 crore and an offer for sale of 68,24,933 equity shares by existing shareholders Leeds (Mauritius), Tonbridge (Mauritius), Cambridge (Mauritius) and Guildford (Mauritius). Technically speaking, after last week’s strength, the benchmarks are destined to more volatility. Technically, from a chartist standpoint, Sensex now will aim its biggest psychological 47500 mark. The sequence of higher high/lows are intact on all-time frames.

Downside for the week likely to be well supported at 45500-45700 zone and then at 43582 mark. Only a move below 43582 will trigger waterfall of selling.

The options data for December Series suggests Nifty is likely to be in a higher trading range as maximum Call OI is at 14000. Maximum Put open interest stands at 13700 levels. Call writing was seen at 13800 and then at 13900 stike price, while there was meaningful Put writing at 13500. Well, the said data indicates a higher trading range between 13500 and 14000 levels.

For perma-bull investors, the gyan mantra is to establish long positions on any excessive corrective declines with strict stops below 42787 mark.

Preferred trade for the week:

Sensex (46960): Buy on dips between 46250-46301 zone, targeting 47501 mark followed by aggressive intermonth targets are at psychological 48000 mark. Strict stop at 45511.

Amongst momentum stocks looking bright on any corrective declines are: INFOSYS, HCL TECH, TCS, WIPRO, NUCLEUS SOFTWARE EXPORTS, ALLCARO LOGISTICS, ENDURANCE TECHNOLOGIES, NIPPON LIFE INDIA ASSET MANAGEMENT, VGUARD, TATA CONSUMER, ALEMBIC PHARMA, SIS, FDC, POLY MEDICURE, IPCA LABS, TATA ELXSI, IDEA CELLULAR, JUBILANT FOODS, BHEL, SIEMENS and GSPL

Meanwhile, we are negative on stocks like: APOLLO TYRES, TATA STEEL, INDUSIND BANK, ZEE ENTERTAINMENT, COAL INDIA and JINDAL STEEL & POWER.

Before we end, our most preferred pair strategies:

• Pair Strategy: Long HINDALCO and Short COAL INDIA.

• Pair Strategy: Long ICICI BANK and Short RBL BANK.

• Pair Strategy: Long ESCORTS and Short TATA MOTORS.

GROWING TOGETHER www.hpmgshares.com Top Sectors for the Week

BSE Auto Index vs Sensex

• BSE AUTO: 20,738: NEUTRAL. • In last week's trade, BSE Auto index continued its consolidation amidst the mentioned overbought technical conditions. Auto index ended with a loss of 0.18% as against Sensex’s gains of 1.87%. The key takeaway was that the Auto index ended lower for the 2nd consecutive session. The biggest interweek support seen at 20267. Below 20651 support, the index could easily slip down to 19545 zone. Technically, positive bias as long 19545 support holds on the daily charts. After last week’s sluggish action, BSE Auto index will face major hurdles at 21557 mark. • Support: 20267/19545/18515. • Resistance: 21557/24887/27031. • Preferred Strategy on Auto Index: Establish short positions at CMP, targeting 20267 and then aggressive targets at 19545-19750 zone with strict stop at 21577. • Preferred Trades: • Sell APOLLO TYRES (CMP 191.45) between 193-195 zone, targeting 182.50 mark and then aggressive targets at 165-172.50 zone with stop at 203. Holding Period: 2-3 Months. • Buy BAJAJ AUTO at CMP 3347, and on dips between 3050-3075 zone, targeting 3505 mark and then aggressive targets at 3650-3750 zone with stop at 1569. Holding Period: 1 Month.

• Outperforming Stocks: ESCORTS, BALKRISHNA INDUSTRIES, HERO MOTO CORP, BAJAJ AUTO. • Underperforming Stocks: BOSCH, CUMMINS.

PAIR Strategy: Long MRF and Short APOLLO TYRES.

PAIR Strategy: Long ESCORTS and Short TATA MOTORS.

GROWING TOGETHER www.hpmgshares.com Top Sectors for the Week

BSE Banks Index vs Sensex

• BSE BANKS: 35,194: OUTPERFORM. • In last week's trade, BSE Bank index witnessed consolidation and the positive takeaway was that the index ended on a positive note. BSE Bank index ended with gains of 0.48% as against Sensex’s weekly gains of 1.87%. The interweek outlook continues to be positive despite technical overbought conditions. Technically, overbought conditions prevail but positive bias will continue as long as BSE BANK index is trading well above its make-or-break interweek support is at 33877 zone. Below 33877, key supports are placed at 30651 mark. • Support: 33877/31781/30651. • Resistance: 35727/37193/39001. • Preferred Strategy on Bank Index: For this week, aggressive traders should look to buy at CMP, targeting 35727/37193 and then aggressive targets seen at 39001 mark with strict stop below 31711. • Preferred Trades: • Sell RBL BANK (CMP 227.65) between 233-237 zone, targeting 217.50 and then at 193-201 zone with stop at 249.80. Holding Period: 2 Months. • Buy ICICI BANK (CMP 517) between 497-503 zone, targeting 517 and then at 537.50-551 zone with stop at 469. Holding Period: 1 Month. • Outperforming Stocks: KOTAK BANK, BANDHAN BANK, AXIS BANK, ICICI BANK. • Underperforming Stocks: PNB.

PAIR Strategy: Long ICICI BANK and Short RBL BANK

GROWING TOGETHER www.hpmgshares.com Top Sectors for the Week

BSE IT Index vs Sensex

• BSE IT: 23,227: OUTPERFORM. • The interweek outlook continues to be positive as index as the index is still witnessing the sequence of higher high/low on the daily/weekly and the monthly charts. In last week’s trade, BSE IT index traded with gains of 2.47%. The inter-month bias will be positive as long as the index trades above its biggest support at 20750 mark. Confirmation of major weakness now only below 18237 mark. Key intermonth hurdles however seen at 23751. • Support: 21777/20750/18237. • Resistance: 23751/25001/25771. • Preferred Strategy on IT Index: Buy between 22500-22751 zone, targeting 23751 zone and then at 24751-25771 zone with strict stop at 20221. • Preferred Trades: • Buy INFOSYS at CMP 1190 and on dips between 1145-1157 zone, targeting 1227 and then at 1275-1301 zone. Stop below 1087. Holding period: 2 months. • Buy HCL TECH at CMP 891 and on dips between 845-860 zone, targeting 911 and then at 1001-1021 zone. Stop below 793. Holding period: 2 months. • Outperforming Stocks: NUCLEUS SOFTWARE, INFY, NIIT TECH, HCL TECH, MASEK, SONATA SOFTWARE, TCS, TATA ELXSI, TECH MAHINDRA, WIPRO. • Underperforming Stocks: MINDTREE.

PAIR Strategy: Long HCL TECH and Short MINDTREE

GROWING TOGETHER www.hpmgshares.com Top Sectors for the Week

BSE Healthcare Index vs Sensex

• BSE HEALTHCARE: 21,475: OUTPERFORM. • In last week’s trade, BSE Healthcare index traded with strength despite overbought technical conditions. The positive take away was that the index was seen hovering above its fresh all-time highs. The index will continue to march towards its fresh uncharted territory. On weekly basis, the index ended 2.14% higher. The interweek outlook continues to be positive despite prevailing overbought technical conditions. The make- or-break support technical intermonth supports seen only at 18331 zone. The major hurdles now are seen at 22001 mark on closing basis. • Support: 20251/19551/18331. • Resistance: 22001/22411/23501. • Preferred Strategy on Healthcare Index: For this week, aggressive traders should look to buy between 20751-22001 zone, targeting 22001/22411 mark and then aggressive targets located at 23501 zone with strict stop below 19211. • Preferred Trade: • Buy ABBOT INDIA at CMP 16178, targeting 18569 zone and then at 19551-20001 zone with stop 14511. Holding Period: 1 month. • Buy ALEMBIC PHARMA (APLL) at CMP 1108, targeting 1187 zone and then at 1250-1301 zone with stop below 947. Holding Period: 2 months. • Outperforming Stocks: ALKEM, BIOCON, DR REDDYS LAB, SUN PHARMA, DIVIS LAB, FDC, IPCA LAB, GRANULES, POLY MEDICURE, PFIZER. • Underperforming Stocks: GLENMARK, THYROCARE, KOPRAN

PAIR Strategy: Long APLL and Short GLENMARK

GROWING TOGETHER www.hpmgshares.com Top Sectors for the Week

BSE Metals Index vs Sensex

• BSE METALS: 11,370: NEUTRAL. • In last week's trade, BSE Metal index continued with uptrend on backdrop of value buying as the index ended with gains of 1.89%. The technical landscape continues to be positive. That said overbought technical conditions prevail. Major inter-month supports seen only at 10111 mark. Key hurdles seen at 12019. • Support: 10805/10111/9301. • Resistance: 11697/11911/12019. • Preferred Strategy on Metals Index: For this week, aggressive traders can look to buy between 10751-10901 zone, targeting 11697 mark and then aggressive targets at 11901-12019 zone. Stop 10101. • Preferred Trade: • Sell JINDAL STEEL & POWER (CMP 273) between 277-280 zone, targeting 263 and then at 237-243 zone. Stop above 293. Holding period: 1 month. • Sell TATA STEEL at CMP (631), targeting 593 and then at 543-551 zone. Stop above 653. Holding period: 1 month. • Outperforming Stocks: HINDALCO, RATNAMANI METALS, JSW STEEL, JINDAL STEEL & POWER. • Underperforming Stocks: COAL INDIA, HINDUSTAN ZINC.

PAIR Strategy: Long HINDALCO and Short COAL INDIA

GROWING TOGETHER www.hpmgshares.com Monday WEEKLY PIVOT TABLE (Equities) 21st December, 2020

Instrument Close S1 S2 R1 R2 200 Day SMA Reversal Point Trend

NIFTY 13760.55 13622.94 13486.72 13898.16 14035.76 10863.7 13320.49 UP BSE SENSEX 46960.69 46491.08 46026.17 47430.30 47899.90 36950.77 45462.85 UP BANKNIFTY 30714.65 30407.50 30103.43 31021.80 31328.94 22894.29 29492.78 UP

ABBOTINDIA 16178.1 16016.32 15856.16 16339.88 16501.66 16037.71 15550.36 UP ACC 1648.3 1631.82 1615.50 1664.78 1681.27 1362.5 1602.31 UP ADANIENT 455.15 450.60 446.09 459.70 464.25 234.87 419.99 UP ADANIPORTS 463.3 458.67 454.08 467.93 472.57 336.98 432.31 UP AMARAJABAT 955.7 946.14 936.68 965.26 974.81 692.08 888.24 UP AMBUJACEM 251.05 248.54 246.05 253.56 256.07 208.63 242.21 UP APOLLOHOSP 2387.75 2363.87 2340.23 2411.63 2435.51 1695.87 2211.26 UP APOLLOTYRE 191.5 189.59 187.69 193.42 195.33 122.37 176.92 UP ASHOKLEY 98.25 97.27 96.29 99.23 100.22 63.56 92.83 UP ASIANPAINT 2601.5 2575.49 2549.73 2627.52 2653.53 1881.43 2446.63 UP AUROPHARMA 886 877.14 868.37 894.86 903.72 742.62 830.93 UP AXISBANK 609.5 603.41 597.37 615.60 621.69 465.81 581.32 UP BAJAJ-AUTO 3347.55 3314.07 3280.93 3381.03 3414.50 2820.26 3112.86 UP BAJAJFINSV 9215.6 9123.44 9032.21 9307.76 9399.91 6164.86 8663.64 UP BAJFINANCE 5252.5 5199.98 5147.98 5305.03 5357.55 3236.66 4861.66 UP BALKRISIND 1613.45 1597.32 1581.34 1629.58 1645.72 1243.68 1536.84 UP BANDHANBNK 408.2 404.12 400.08 412.28 416.36 298.29 376.17 UP BANKBARODA 63.1 62.47 61.84 63.73 64.36 48.77 56.63 UP BATAINDIA 1583.85 1568.01 1552.33 1599.69 1615.53 1338.69 1505.52 UP BEL 121.25 120.04 118.84 122.46 123.68 89.28 107.57 UP BERGEPAINT 710.05 702.95 695.92 717.15 724.25 547.06 670.8 UP BHARATFORG 555.65 550.09 544.59 561.21 566.76 401.04 501.61 UP BHARTIARTL 510.65 505.54 500.49 515.76 520.86 506.29 477.76 UP BHEL 35.85 35.49 35.14 36.21 36.57 30.84 32.27 UP BIOCON 471.95 467.23 462.56 476.67 481.39 390.34 434.13 UP BOSCHLTD 13203.15 13071.12 12940.41 13335.18 13467.21 11884.2 12376.38 UP BPCL 393.85 389.91 386.01 397.79 401.73 373.89 367.57 UP BRITANNIA 3720.5 3683.30 3646.46 3757.71 3794.91 3442.7 3576.59 UP CADILAHC 476.6 471.83 467.12 481.37 486.13 371.95 442.29 UP CANBK 121.6 120.38 119.18 122.82 124.03 97.66 107.18 UP CENTURYTEX 395.5 391.55 387.63 399.46 403.41 323.92 348.06 UP CHOLAFIN 375.1 371.35 367.64 378.85 382.60 224.88 345.42 UP CIPLA 793.45 785.52 777.66 801.38 809.32 666.41 738.77 UP COALINDIA 141.7 140.28 138.88 143.12 144.53 131.92 132.15 UP COFORGE 2556.8 2531.23 2505.92 2582.37 2607.94 1809.38 2383.81 UP COLPAL 1600.2 1584.20 1568.36 1616.20 1632.20 1402.87 1513.67 UP CONCOR 405.25 401.20 397.19 409.30 413.36 389.87 378.58 UP CUMMINSIND 612.05 605.93 599.87 618.17 624.29 432.42 535.08 UP DABUR 509.35 504.26 499.21 514.44 519.54 484.4 491.8 UP DIVISLAB 3832.9 3794.57 3756.63 3871.23 3909.56 2745.22 3572.49 UP DLF 231.4 229.09 226.80 233.71 236.03 157.28 205.2 UP DRREDDY 5228.75 5176.46 5124.70 5281.04 5333.33 4266.5 4853.55 UP EICHERMOT 2480.95 2456.14 2431.58 2505.76 2530.57 1943.7 2335.23 UP EQUITAS 70.3 69.60 68.90 71.00 71.71 53.74 64.01 UP ESCORTS 1336.75 1323.38 1310.15 1350.12 1363.49 1055.97 1304.59 UP EXIDEIND 190.35 188.45 186.56 192.25 194.16 159.07 181.15 UP FEDERALBNK 66.35 65.69 65.03 67.01 67.68 52.77 62.17 UP GAIL 125.05 123.80 122.56 126.30 127.55 94.01 113.08 UP GLENMARK 516.25 511.09 505.98 521.41 526.58 414.62 489.66 UP GMRINFRA 26.85 26.58 26.32 27.12 27.39 21.34 24.88 UP GODREJCP 720.2 713.00 705.87 727.40 734.60 646.18 678.12 UP GODREJPROP 1375.2 1361.45 1347.83 1388.95 1402.70 870.49 1213.48 UP GRASIM 909.65 900.55 891.55 918.75 927.84 660.62 862.34 UP HAVELLS 919.35 910.16 901.05 928.54 937.74 631.09 846.3 UP HCLTECH 890.65 881.74 872.93 899.56 908.46 665.84 844.43 UP HDFC 2479.4 2454.61 2430.06 2504.19 2528.99 1872.36 2275.31 UP HDFCBANK 1411.35 1397.24 1383.26 1425.46 1439.58 1092.05 1339.94 UP HDFCLIFE 654.1 647.56 641.08 660.64 667.18 559.83 618.22 UP HEROMOTOCO 3135.3 3103.95 3072.91 3166.65 3198.01 2610.85 3208.43 DOWN HINDALCO 249.9 247.40 244.93 252.40 254.90 162.86 227.55 UP HINDPETRO 224.4 222.16 219.93 226.64 228.89 202.95 210.78 UP HINDUNILVR 2333.45 2310.12 2287.01 2356.78 2380.12 2157.47 2224.54 UP IBULHSGFIN 203.55 201.51 199.50 205.59 207.62 169.16 175.84 UP ICICIBANK 517.15 511.98 506.86 522.32 527.49 383.79 485.1 UP ICICIPRULI 482.55 477.72 472.95 487.38 492.20 413.53 453.08 UP IDEA 9.85 9.75 9.65 9.95 10.05 7.94 8.88 UP IDFCFIRSTB 36.95 36.58 36.21 37.32 37.69 28.32 34.4 UP IGL 478 473.22 468.49 482.78 487.56 425.77 450.39 UP INDIGO 1651.05 1634.54 1618.19 1667.56 1684.07 1177.82 1573.82 UP INDUSINDBK 905.2 896.15 887.19 914.25 923.30 578.27 852.65 UP INFRATEL 231.15 228.84 226.55 233.46 235.77 197.66 219.04 UP INFY 1189.8 1177.90 1166.12 1201.70 1213.60 877.75 1122.1 UP IOC 93.95 93.01 92.08 94.89 95.83 84.26 88.99 UP ITC 214.5 212.36 210.23 216.65 218.79 184.31 201.51 UP JINDALSTEL 272.05 269.33 266.64 274.77 277.49 168.48 248.93 UP JSWSTEEL 364.2 360.56 356.95 367.84 371.48 243.63 338.9 UP JUBLFOOD 2758.25 2730.67 2703.36 2785.83 2813.42 1934.72 2522.38 UP JUSTDIAL 652.65 646.12 639.66 659.18 665.70 425.92 576.28 UP KOTAKBANK 1949.35 1929.86 1910.56 1968.84 1988.34 1407.25 1829.99 UP L&TFH 91.3 90.39 89.48 92.21 93.13 66.25 84.13 UP LICHSGFIN 370.65 366.94 363.27 374.36 378.06 281.54 341.05 UP LT 1281.55 1268.73 1256.05 1294.37 1307.18 947.88 1184.19 UP LUPIN 972.1 962.38 952.76 981.82 991.54 886.11 900.83 UP M&M 733.6 726.26 719.00 740.94 748.27 540.15 696.41 UP M&MFIN 176.45 174.69 172.94 178.21 179.98 131.92 161.37 UP MANAPPURAM 174.2 172.46 170.73 175.94 177.68 146.83 161.93 UP MARICO 409.3 405.21 401.15 413.39 417.49 342.04 383.75 UP MARUTI 7559.75 7484.15 7409.31 7635.35 7710.95 6220.12 7217.24 UP MCDOWELL-N 588.45 582.57 576.74 594.33 600.22 559.08 556.77 UP MFSL 648.25 641.77 635.35 654.73 661.22 534.17 608.27 UP MGL 1042.7 1032.27 1021.95 1053.13 1063.55 935.52 991.53 UP MINDTREE 1476.1 1461.34 1446.73 1490.86 1505.62 1097.96 1377.47 UP MOTHERSUMI 157.25 155.68 154.12 158.82 160.40 103.27 146.35 UP MRF 77571.55 76795.83 76027.88 78347.27 79122.98 63257.25 74075.41 UP MUTHOOTFIN 1210.85 1198.74 1186.75 1222.96 1235.07 1036.75 1142.04 UP NATIONALUM 43.7 43.26 42.83 44.14 44.57 33.12 38.69 UP NAUKRI 4644.25 4597.81 4551.83 4690.69 4737.14 3105.12 4206.07 UP NCC 56.5 55.94 55.38 57.07 57.63 31.94 49.55 UP NESTLEIND 18362.75 18179.12 17997.33 18546.38 18730.01 16582.95 17262.67 UP NMDC 115.7 114.54 113.40 116.86 118.01 85.92 103.28 UP NTPC 103.75 102.71 101.69 104.79 105.83 91.48 96.27 UP ONGC 99 98.01 97.03 99.99 100.98 76.71 89.12 UP PAGEIND 28217.5 27935.33 27655.97 28499.68 28781.85 19753.48 24928.07 UP PEL 1445.15 1430.70 1416.39 1459.60 1474.05 1230.22 1318.38 UP PETRONET 257.7 255.12 252.57 260.28 262.85 238.3 242.76 UP PFC 117.5 116.33 115.16 118.68 119.85 91.59 107.65 UP PIDILITIND 1731.8 1714.48 1697.34 1749.12 1766.44 1459.66 1575.61 UP PNB 36.55 36.18 35.82 36.92 37.28 32.47 34.47 UP POWERGRID 193.9 191.96 190.04 195.84 197.78 172.13 182.99 UP PVR 1433.65 1419.31 1405.12 1447.99 1462.32 1160.82 1334.24 UP RAMCOCEM 842.45 834.03 825.69 850.87 859.30 686.43 824.53 UP RBLBANK 227.65 225.37 223.12 229.93 232.20 173.86 213.57 UP RECLTD 137.75 136.37 135.01 139.13 140.51 103.99 124.49 UP RELIANCE 1991.55 1971.63 1951.92 2011.47 2031.38 1790.41 2064.61 DOWN SAIL 57.8 57.22 56.65 58.38 58.96 34.89 51.55 UP SBILIFE 857.15 848.58 840.09 865.72 874.29 796.72 820.02 UP SBIN 271.45 268.74 266.05 274.16 276.88 201.06 252.39 UP SHREECEM 24574.4 24328.66 24085.37 24820.14 25065.89 21082.91 23065.47 UP SIEMENS 1539 1523.61 1508.37 1554.39 1569.78 1211.52 1437.54 UP SRF 5559.3 5503.71 5448.67 5614.89 5670.49 4018.06 5146.05 UP SRTRANSFIN 1027.8 1017.52 1007.35 1038.08 1048.36 714.07 955.58 UP SUNPHARMA 575 569.25 563.56 580.75 586.50 483.85 530.95 UP SUNTV 483.9 479.06 474.27 488.74 493.58 410.77 445.67 UP TATACHEM 489.85 484.95 480.10 494.75 499.65 310.75 450.72 UP TATACONSUM 573.55 567.81 562.14 579.29 585.02 436.21 540.1 UP TATAMOTORS 180.55 178.74 176.96 182.36 184.16 117.78 166.9 UP TATAPOWER 76.05 75.29 74.54 76.81 77.57 48.66 68.16 UP TATASTEEL 631.25 624.94 618.69 637.56 643.88 376.9 590.62 UP TCS 2861 2832.39 2804.07 2889.61 2918.22 2259.06 2720.21 UP TECHM 933.8 924.46 915.22 943.14 952.48 685.37 874.46 UP TITAN 1519.35 1504.16 1489.11 1534.54 1549.74 1093.99 1431 UP TORNTPHARM 2779.1 2751.31 2723.80 2806.89 2834.68 2520.51 2589.01 UP TORNTPOWER 329.9 326.60 323.33 333.20 336.50 316.06 304.65 UP TVSMOTOR 489.1 484.21 479.37 493.99 498.88 403.73 466.52 UP UBL 1137.55 1126.17 1114.91 1148.93 1160.30 995.32 1070.01 UP UJJIVAN 285.75 282.89 280.06 288.61 291.47 221.15 265.11 UP ULTRACEMCO 5152.5 5100.98 5049.97 5204.03 5255.55 4015.46 4768.01 UP UPL 460.3 455.70 451.14 464.90 469.51 435.93 511.2 DOWN VEDL 147.4 145.93 144.47 148.87 150.35 106.65 132.99 UP VOLTAS 828.8 820.51 812.31 837.09 845.38 617.54 777.1 UP WIPRO 363.55 359.91 356.32 367.19 370.82 264.39 340.96 UP ZEEL 225.25 223.00 220.77 227.50 229.76 178.84 205.06 UP ------

All level indicated above are based on cash market prices.

Pivot Point

PP : Pivot Point : This is trigger point for weekly buy/sell based on the price range of the previous week. R1 : Resistance one : 1st Resistance over PP. R2 : Resistance two : 2nd Resistance over R1. S1 : Support one : 1st support after PP. S2 : Support Two : 2nd support after S1.

As per the tool, the trader should take BUY position just above PP and keep the stop loss of PP and the first target would be R1. If R1 is crossed then R2 becomes the next target with the stop loss at R1.

Similarly if price goes below PP the trader should SELL and keep the PP as Stop loss and the first target would be S1.

If S1 is crossed then S2 becomes the next target with the stop loss at S1. This is a trading tool. The key to use of this tool is the use of STOP LOSS.

GROWING TOGETHER www.hpmgshares.com Monday WEEKLY PIVOT TABLE (Commodities) 21st December, 2020

200 Day Reversal Exchange Commodity Close S1 S2 R1 R2 Trend SMA Point MCX ALUMINIUM 164.65 160 153 171 177 143 146 UP MCX CARDAMOM 1505 1471 1401 1609 1777 2689 1671 UP NCDEX CASTOR 4442 4351 3939 4755 4903 4031 3714.4 UP NCDEX CHANA 4627 4571 4410 4891 5411 4509 3841.7 DOWN MCX COPPER 616 603 583 621 633 480 404.37 UP MCX COTTON 20580 19201 19001 20501 21115 17409 14458 UP MCX CRUDE-OIL 3619 3501 3365 3777 3819 2717 2488.6 UP MCX GOLD 50338 49611 47596 51661 53501 48567 44084.1 UP NCDEX GUAR GUM 5988 5651 45211 5961 6301 5988 5519.5 NEGATIVE NCDEX GUAR SEED 3880 3777 3501 4051 4451 3807 3672.8 UP NCDEX JEERA 13785 13423 12887 14910 15398 13785 13323 DOWN MCX LEAD 159.9 149 143 163 175 160 139.26 UP MCX MENTHA OIL 986 901 861 1013 1069 1047 1069.95 DOWN MCX NATURAL GAS 197.5 181 173 219 227 162 147.11 DOWN MCX NICKLE 1318 1277 1198 1345 1407 1037 975.8 UP NCDEX RM SEED 5801 5710 5375 6151 6429 4947 3851 DOWN MCX SILVER 67840 65939 63005 69011 71551 55171 42506.6 UP NCDEX SUGAR NA NA NA NA NA NA NA NA NCDEX SOYA BEAN 4276 4198 3871 4601 4795 3050 3403 UP MCX ZINC 222 207 201 225 237.5 179 154.82 UP

GROWING TOGETHER www.hpmgshares.com HPMG SHARES & SEC. P. LTD

HPMG SHARES & SEC. P. LTD B-201/202, Rajkamal, S.V Road Next to Shreeji Arcade, Kandivali (West), Mumbai - 400 067. +91 022 62317600 [email protected]

DISCLAIMER: This is solely for information of clients of HPMG SHARES & SEC. P. LTD and does not construe to be an investment advice. It is also not intended as an offer or solicitation for the purchase and sale of any financial instruments. Any action taken by you on the basis of the information contained herein is your responsibility alone and HPMG SHARES & SEC. P. LTD, its subsidiaries or its employees or associates will not be liable in any manner for the consequences of such action taken by you. We have exercised due diligence in checking the correctness and authenticity of the information contained in this recommendation, but HPMG SHARES & SEC. P. LTD or any of its subsidiaries or associates or employees shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this recommendation or any action taken on basis of this information.

Technical analysis studies market psychology, price patterns and volume levels. It is used to forecast future price and market movements. Technical analysis is complementary to fundamental analysis and news sources. The recommendations issued herewith might be contrary to recommendations issued by HPMG SHARES & SEC. P. LTD in the company research undertaken as the recommendations stated in this report is derived purely from technical analysis. HPMG SHARES & SEC. P. LTD has based this document on information obtained from sources it believes to be reliable but which it has not independently verified; HPMG SHARES & SEC. P. LTD makes no guarantee, representation or warranty and accepts no responsibility or liability as to its accuracy or completeness. The opinions contained within the report are based upon publicly available information at the time of publication and are subject to change without notice. The information and any disclosures provided herein are in summary form and have been prepared for informational purposes. The recommendations and suggested price levels are intended purely for trading purposes. The recommendations are valid for the day of the report however trading trends and volumes might vary substantially on an intraday basis and the recommendations may be subject to change. The information and any disclosures provided herein may be considered confidential. Any use, distribution, modification, copying, forwarding or disclosure by any person is strictly prohibited. The information and any disclosures provided herein do not constitute a solicitation or offer to purchase or sell any security or other financial product or instrument. The current performance may be unaudited. Past performance does not guarantee future returns. There can be no assurance that investments will achieve any targeted rates of return, and there is no guarantee against the loss of your entire investment.

POTENTIAL CONFLICT OF INTEREST DISCLOSURE (as on date of report) Disclosure of interest statement – • Analyst interest of the stock /Instrument(s): - No. • Firm interest of the stock / Instrument (s): - No.

GROWING TOGETHER www.hpmgshares.com