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Benchmark Indices CAPITAL WAYS INVESTMENT ADVISER DERIVATIVES DAILY REPORT Thrusday 24-12-2020 BENCHMARK INDICES NIFTY FUTURE INDEX Nifty today closed at 13619.05 Up 131.55 Points or 0.98 percent. Indian shares extended gains to settle over 1% higher on Wednesday as a rally in IT stocks helped overshadow jitters stemming from the rapid spread of a new variant of the corona virus in the United Kingdom. Nifty managed to continue its positive move for the second consecutive session and recovered smartly from the recent low of 13,133 to 13,620. The index formed a bullish candle on the daily scale. Now it has to continue to hold above 13,500 to witness a bullish bias towards life-time high of 13,750-13,777 while on the downside, major support exists at 13,333 and 13,131 level. The additional stimulus announced in the US did not gain much momentum in the global market as the quantum of the benefit was well-factored, but Europe and EMs are maintaining the buoyancy. A volume spike of nearly 500 percent was seen in the stock of Grasim Industries. The stock of Wipro witnessed a volume spike of nearly 300 percent while Piramal Enterprises, Tata Consumer Products, Adani Ports, Vodafone Idea, Vedanta and Biocon saw a volume spike of over 100 percent each. Asian equities rose slightly higher Wednesday after recent fall, following President Donald Trump's comments that suggested he may veto a USD900 billion economic aid package amid concerns regarding the new COVID-19 strain. Stocks in the US fell for a third straight session yesterday after Trump criticized the 900 billion aid plan approved by Congress and urged lawmakers to raise payments to the public. European markets were mostly trading a tad higher as traders shrugged off concerns over new corona virus strain in the UK and focussed on the EU and UK post-Brexit trade deal which is expected to be finalized soon. In Asia, Japan's Nikkei ended 0.33 per cent higher while South Korea's Kospi added nearly 1 per cent. BANKNIFTY FUTURE INDEX Bank nifty today closed at 29941.50 Up 294.90 points or 0.99 per cent . The Bank Nifty opened higher at 29,560.75 and turned volatile in initial trade to hit the day's low of 29,446 but immediately gained momentum to touch an intraday high of 29,941.40. All the banking counters witnessed strength and the index settled at 29,883.30, up 257.30 points. The index formed a bullish candlestick on the daily scale after making a Dragon Fly Doji in the previous session. "Now it has to continue to hold above 29,500 to witness an up move towards 30,200 and 30,500, while on the downside, support is seen at 29,500 and 29,200 levels," Extending the gains into the second consecutive session, headline indices the Sensex and Nifty ended with healthy gains on December 23 amid mixed global cues. Market barometer Sensex witnessed mild volatility in the initial half-an- hour of the session but stabilized soon and traded in the green throughout the session. Market is continuing its rally amidst concerns over new virus strain, lockdown and weak global cues, fuelled by IT, mid and small caps. The additional stimulus announced in the US did not gain much momentum in the global market as the quantum of the benefit was well-factored, but Europe and emerging markets are maintaining the buoyancy. In the coming days, the market will also focus on Brexit trade deals which is expected to be finalized soon and fallout in the economy due to strict lockdown. Banknifty opened flattish but continued to move up towards the 30,000 mark. All the banking stocks saw strength and the index settled the session with a gain of more than 250 points. The index formed a bullish candlestick on the daily scale followed by a Dragonfly Doji candle in the previous session. Now, it has to hold above 29,500 level to witness a bounce towards 30,200 and 30,500 levels, while on the downside, support exists at 29,500 and then 29,200 levels. Read more at: https://economictimes.indiatimes.com/markets/stocks/news/fo -bulls-stage-a-comeback-nifty-now-has-to- hold- 13500/articleshow/79923995.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst INTRADAY DERIVATIVES STOCK RECOMMENDATION STRATEGY BIOCON- UPSIDE TARGET BUY BIOCON-FUT ABOVE 488.50 TARGET 493 , STOPLOSS 484.50 TRAND OF STOCK IS UPTREND WE SEEING STOCK HAS GREAT STRENGTH, CALL GIVEN ON ABOVE LEVEL, RSI IS ALSO SUPPORTIVE FOR LONG. Intraday levels We expect prices to trade Above 488.50 and price is expected to Rise up to 493.50 STRATEGY COALINDIA-DOWNSIDE TARGET SELL COALINDIA FUT BELOW 134.90 TARGET 132.90 STOPLOSS – 136.10 TRAND OF STOCK IS DOWNTREND AND WE SEEING STOCK HAS BEARISH FLAG AND MOVING BELOW50 MA , CALL GIVEN AT PULLBACK LEVEL . Intraday levels We expect prices to trade Below 134.90 and price is expected to fall up to 132.50 For any Query please feel free to contact Capital Ways Support Team Quick Contact: +91-94797-42874 Mail us: [email protected] Web: www.capitalways.com. Disclaimer : This document is not for public distribution and is meant solely for the personal information of the authorized recipient. No part of the information must be altered, transmitted, copied, distributed or reproduced in any form to any other person. Persons into whose possession this document may come are required to observe these restrictions. This document is for general information purposes only and does not constitute an investment advice or an offer to sell or solicitation of an offer to buy / sell any commodity / commodity contracts and into intended for distribution in countries where distribution of such material is subject to any licensing, registration or other legal requirements. The information , opinion, views contained in this document are as per prevailing conditions and are of the date of appearing on this material only and are subject to change. No reliance may be placed for any purpose whatsoever on the information contained in this document or on its completeness. Neither CAPITALWAYSFINANCIAL SERVICES nor any person connected with it accepts any liability or loss arising from the use of this document. The views and opinions expressed herein by the author in the document are his own and do not reflect the views of CAPITALWAYS FINANCIAL SERVICES or any of its associate or group companies. The information set out herein may be subject to updating, completion, revision, verification and amendment and such information may change materially. Past performance is no guarantee and does not indicate or guide to future Nothing in this document is intended to constitute legal, tax or investment advice, or an opinion regarding the appropriateness of any investment, or a solicitation of any type. The contents in this document are intended for general information purposes only. This document or information mentioned therefore should not form the basis of and should not be relied upon in connection with making any investment. The investment may not be suited to all the categories of investors. The recipients should therefore obtain your own professional, legal, tax and financial advice and assessment of their risk profile and financial condition before considering any decision. 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