Morning Outlook 8th December, 2021

BANK NIFTY:

BANK NIFTY opened at 36086.95 with a gap up of 350 points. The index first recorded its intraday low at 36013.95 within the first five minutes of trading and then started moving higher. The rally took prices to its intraday high at 36820.70 and the started a process of consolidation. Prices have seen a minor decline in the last 30 minutes of trading and finally closed at 36621.65 with a gain of 925 points. PVT and PSU BANKS both indices have seen sharp intraday rally today and closed with handsome gains of 2.48% and 2.31% respectively. Within the index, in terms of points, ICICI BANK contributed the highest followed by AXIS BANK.

A consolidation continued in the BANK NIFTY. The index takes a U-Turn today after moving down for two consecutive trading days. Prices have recovered all the losses that came in last two days, We have also mentioned a possible trading range within 35300 – 36800 zones. This range remained intact and prices are now trading near the resistance levels. A breakout from this range may lead to next likely direction

TECHNICAL PICKS

COMPANY NAME	CMP	B/S	RATIONALE+
DIXON TECH	5220	BUY	The stock is on the verge of giving the breakout on the intraday as well as the daily chart. The stock can be bought  with a stop loss of 5140 and for the target of 5400.
HAVELLS	1410	BUY	The  immediate trend of the script is bullish. There is a positive  cross over of moving averages  as well as of the indicators therefore  it can be buy above 1420 with a stop loss of 1390 and target  of 1470.

DERIVATIVE PICKS

Stock Name	Strike Price	Buy/Sell	CMP	Initiation	Stop Loss	Target	Remarks
TECHM	1600CE	BUY	36	CMP	20	60	OI Increase

Long Buildup						Short Buildup
Stocks	Price	Price%	OI %	OI		Stocks	Price	Price%	OI %	OI
POLYCAB.Dec 30	2346.75	0.04	5.32	528900		METROPOLIS.Dec 30	3127.6	-4.08	3.27	631400
LAURUSLABS.Dec 30	502.7	0.07	0.58	2941200		IDEA.Dec 30	14.35	-4.01	8.96	7.81E+08
IOC.Dec 30	121.3	0.17	9.55	38415000		ZEEL.Dec 30	351	-1.79	1.25	84018000
ASIANPAINT.Dec 30	3048.7	0.19	6.41	4452150		STAR.Dec 30	465.9	-1.77	2.4	3750300
ESCORTS.Dec 30	1860	0.29	0.25	6240850		APLLTD.Dec 30	797	-1.5	2.23	1789150
Short Covering						Long Unwinding
GLENMARK.Dec 30	496.5	0.43	-0.73	8865350		SUNPHARMA.Dec 30	736.8	-0.26	-0.15	32381300
APOLLOHOSP.Dec 30	5345.95	0.48	-0.26	2071375
HINDUNILVR.Dec 30	2332.05	0.77	-0.21	10906500
MRF.Dec 30	73975.05	0.87	-0.86	69400
DABUR.Dec 30	573.95	0.87	-0.32	10981250

TOP DELIVERY PERCENTAGE

Stocks	Price	%Chg	Total Qty	Delivery	Del %			% Change
							Sectors	Price	Change %	Quantity
Max Financial Services l	969.35	1.5	734868	0	78.58		Nifty 50	17176.7	1.56	77751
Hindustan Unilever Ltd	2321.6	0.65	895313	0	66.54		India Vix	18.46	-8.07	77760
Hdfc Ltd.	2817.5	1.76	2543784	0	65.89		Nifty Auto	10759	1.6	77760
Icici Lombard General In	1416.35	-0.21	873771	0	64.97		Nifty Bank	36618.4	2.47	77760
Hdfc Life Insurance Comp	694.4	1.49	2459318	0	62.5		Nifty Pharma	13234.35	0.32	77760
Page Industries Limited	38916.5	1.56	19257	0	61.85		Nifty it	35272.3	1.13	77760
Kotak Mahindra Bank Limi	1937.15	2.76	7344475	0	60.73		Nifty Fmcg	37175.85	0.96	77760
Oracle Fin Serv Soft Ltd	4171.8	1.63	64232	0	60.72		Nifty Media	2273	1.45	77760
Sbi Life Insurance Compa	1159.15	0.93	2090791	0	60.04		Nifty Financial Services	17979.35	2.17	77760
Petronet Lng Limited	224.65	1.47	1959344	0	59.56		Nifty Realty	500.45	2.24	77760

UPCOMING ECONOMIC DATA

Domestic                                                                                                                                                  International
INR: RBI Interest Rate Decision on 8th December, 2021 INR: Industrial Production (YoY) (Oct) on 10th December, 2021	•USD: JOLTs Job Openings (Oct) on 8th December, 2021 •USD: Crude Oil Inventories on 8th December, 2021

NEWS UPDATES

• Welspun One Logistics Parks (WOLP), a pan-India asset management and development platform and part of Welspun Group, has acquired 40 acres of land to set up a large-scale warehousing facility at Malur-Hosur road in Tamil Nadu. With a development potential of 1 million square feet and a total project cost of Rs 300 crore, the facility will service the Bengaluru Metropolitan region’s (BMR’s) industrial and warehousing demand for space, said Welspun in its release today.

• Vedanta Aluminium Business, a division of Vedanta Limited, one of India’s largest manufacturer of aluminium, has on Tuesday extended invitations to aluminium producers at the Enterprise Odisha 2021 event. The invitation is to partner in its aluminium park project, which will come up in Jharsuguda, Orissa. Vedanta Aluminium has partnered with Odisha Industrial Infrastructure Development Corporation (IDCO) to set up the Vedanta Aluminium Park near its aluminium smelter in Jharsuguda.

• India is considering appointing its capital markets regulator to oversee cryptocurrencies, according to people with knowledge of the matter, as authorities look to classify them as financial assets. Prime Minister Narendra Modi’s government, which plans to introduce legislation in the ongoing parliament session, will probably give crypto holders a deadline to declare their assets and meet any new rules, the people said, asking not to be identified as the discussions are private.

• Nestle India on Tuesday informed the exchanges that the government of India has approved its proposal towards production linked scheme w.r.t processed fruits and vegetables.

Source: Economic Times,  Indian Express  ,Business Today, Livemint, Business

BOARD MEETINGS

Company Name	Purpose	Ex-Date	Company Name	Purpose	Ex-Date
ALANKIT	Right Issue of Equity Shares	08-Dec-21	ADROITINFO	Reduction of Capital	09-Dec-21
BILLWIN	A.G.M.	08-Dec-21	BCG	Preferential Issue of shares;A.G.M.	09-Dec-21
CALCOM	ESOP;In. in Auth. Capital;Pref. Issue	08-Dec-21	DHANADACO	General	09-Dec-21
CELEBRITY	General	08-Dec-21	LADIAMO	A.G.M.;Audited Results	09-Dec-21
JBMA	Stock  Split	08-Dec-21	MEL	General	09-Dec-21
KOPRAN	Preferential Issue of shares	08-Dec-21	AASHKA	Half Yearly Results	10-Dec-21
MAHACORP	General	08-Dec-21	BHATIA	General	10-Dec-21
MAITRI	General;Preferential Issue of shares	08-Dec-21	BLUECLOUDS	Preferential Issue of shares	10-Dec-21
NEOGEN	Preferential Issue of shares	08-Dec-21	OBCL	General	10-Dec-21
PANCHSHEEL	Bonus issue;General	08-Dec-21	SINDHUTRAD	Stock  Split	10-Dec-21
ROLTA	Quarterly Results	08-Dec-21	SUPRAP	General	10-Dec-21
TAMJAIM	General	08-Dec-21	UNIVPHOTO	Voluntary Delisting of Shares	10-Dec-21

CORPORATE ACTION

Company Name	Ex-Date	Purpose	Company Name	Ex-Date	Purpose
GPL	08-Dec-21	Amalgamation	WEIZMANIND	09-Dec-21	Buy Back of Shares
BNKCAP	09-Dec-21	Dividend – Rs. – 2.5000	SEACOAST	10-Dec-21	E.G.M.
DUGARHOU	09-Dec-21	E.G.M.	NIHARINF	13-Dec-21	E.G.M.
OAL	09-Dec-21	Interim Dividend – Rs. – 1.5000	HINDZINC	14-Dec-21	Interim Dividend
RIDHISYN	09-Dec-21	Right Issue of Equity Shares	NMDC	14-Dec-21	Interim Dividend – Rs. – 9.0100
SHIVAMAUTO	09-Dec-21	Right Issue of Equity Shares	TTKPRESTIG	14-Dec-21	Stock  Split From Rs.10/- to Rs.1/-
TTL	09-Dec-21	Interim Dividend – Rs. – 1.0000	RAJESHEXPO	15-Dec-21	Dividend – Rs. – 1.0000

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