NIFTY:
NIFTY opened at 16773.15 with a big gap up of 159 points. The index first moved sideways and then started moving on the upside. The index rallied more than 150 points and recorded its intraday high at 16936.40. Prices then again started consolidating and moved sideways for the whole afternoon and then broke on the downside. A sharp decline of almost 200 points brought the index to its intraday low at 16688.25. In the last hour of trading, prices have recovered some losses and finally closed at 16770.85 almost at its opening tick with a gain of 156.65 points or 0.94% up. All the sectoral indices have closed with gains today. The MEDIA,METAL and IT outperformed today and closed nearly 2% higher. BANK and FINANCIAL have underperformed today.
The long-term trend is down while the long-term momentum is moving down and almost reaching the weak zone. The Intermediate trend is down while the intermediate momentum has again turned today and is now moving within the weak zone. Both the momentums and trends have aligned on the downside suggests lower levels are ahead. This may change as per the price action in the coming days.
BANK NIFTY:
BANK NIFTY opened at 34863.35 with a big gap up of 424 points. The index first moved down and then bounced up to record its intraday high at 35050. Prices then consolidated there in the afternoon and then broke down. A sharp decline filled that gap and prices have recorded its intraday low at 34389.05. A minor recovery came in the last hour of trading and the index finally closed at 34664.60 with a gain of 225 points. PVT BANKS have outperformed today and closed with a gain of 0.57%. PSU BANKS closed with no profit and no loss today. Within the index, in terms of points, HDFC BANK contributed the highest while
AXIS BANK contributed the lowest.
As we are expecting a process of consolidation within 34000 – 35500 zone, the index traded today as we have expected. We have seen a sharp move of more than 3000 points which is more than 8% and this expansion should lead prices into a process of consolidation.
TECHNICAL PICKS
| COMPANY NAME | CMP | B/S | RATIONALE+ |
| APOLLOHOSP | 4847 | BUY | The stock is on the verge of giving the breakout on the intraday as well as the daily chart. The stock can be buy above 4855 with a stop loss of 4740 and for the target of 5020. |
| TATAMOTOR | 453 | SELL | The immediate trend of the script is bearish. There is a negative cross over of moving averages as well as of the indicators therefore it can be sold below 451 with a stop loss of 462 and target of 420. |
DERIVATIVE PICKS
| Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| INFY | 1820 PE | BUY | 21 | CMP | 11 | 50 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| ATUL.Dec 30 | 8530 | -0.07 | -5.71 | 40875 | SRTRANSFIN.Dec 30 | 1175.25 | -7.95 | 4.46 | 2990400 | |
| TORNTPHARM.Dec 30 | 3082.05 | -0.14 | -0.79 | 722250 | BANDHANBNK.Dec 30 | 246.9 | -7.68 | 1.61 | 23873400 | |
| LALPATHLAB.Dec 30 | 3411.05 | -0.15 | -3.79 | 482875 | AUBANK.Dec 30 | 1041.55 | -6.51 | 10.04 | 3604500 | |
| JSWSTEEL.Dec 30 | 660.5 | -0.16 | -1.88 | 41245200 | INDIAMART.Dec 30 | 6530.65 | -6.23 | 2.15 | 195900 | |
| BHARTIARTL.Dec 30 | 667.3 | -0.19 | -3.01 | 71773616 | BALKRISIND.Dec 30 | 2094 | -5.24 | 9.37 | 1658200 | |
| Short Covering | Long Unwinding | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| MARUTI.Dec 30 | 7310 | 0.02 | -1.25 | 2655000 | BANKBARODA.Dec 30 | 79.2 | -6.82 | -3.56 | 1.31E+08 | |
| IGL.Dec 30 | 494 | 0.02 | -3.99 | 9207000 | FSL.Dec 30 | 156.75 | -6.22 | -10.42 | 6546800 | |
| L&TFH.Dec 30 | 77 | 0.13 | -6.62 | 60576112 | ASTRAL.Dec 30 | 2102.05 | -6.16 | -11.95 | 427350 | |
| SRF.Dec 30 | 2174.6 | 0.17 | -2.41 | 2991250 | IBULHSGFIN.Dec 30 | 220.1 | -5.98 | -8.34 | 26824300 | |
| DEEPAKNTR.Dec 30 | 2282.8 | 0.26 | -2.01 | 2268000 | RBLBANK.Dec 30 | 169.25 | -5.76 | -1.33 | 29684400 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Sun Pharma Ltd | 778.55 | 1.25 | 5599344 | 0 | 71.96 | Nifty 50 | 16770.85 | -1.26 | 84069 | |
| Hdfc Ltd. | 2540.85 | -2.92 | 2502122 | 0 | 71.93 | Nifty Bank | 34607.85 | -2.84 | 84069 | |
| Max Financial Services l | 965.35 | 2.01 | 288349 | 0 | 67.78 | Nifty it | 36627.15 | -0.06 | 84069 | |
| Dabur India Ltd. | 559.1 | -1 | 641150 | 0 | 67.67 | Nifty Fmcg | 36336.8 | -0.28 | 84069 | |
| Colgate Palmolive (india | 1444.6 | 1.1 | 381423 | 0 | 67.58 | Nifty Realty | 459.95 | -3.36 | 84069 | |
| Icici Lombard General In | 1369.6 | 0.8 | 861852 | 0 | 67.57 | India Vix | 17.54 | 7.34 | 84066 | |
| Gail (india) Limited | 129 | -0.39 | 7339722 | 0 | 66.49 | Nifty Metal | 5424.6 | -0.95 | 84072 | |
| Britannia Ind Ltd. | 3505.75 | -0.86 | 222991 | 0 | 66.49 | Nifty Media | 2242.4 | -1.5 | 84072 | |
| Petronet Lng Limited | 211.8 | -1.81 | 1370318 | 0 | 65.59 | Nifty Auto | 10483.9 | -1.82 | 84072 | |
| Sbi Life Insurance Compa | 1135.25 | -0.64 | 878721 | 0 | 64.06 | Nifty Pharma | 13282.85 | 0.39 | 84069 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: FX Reserves, USD on 24th December, 2021
INR: Deposit and Bank Loan Growth Rate on 24th December, 2021 |
•USD: GDP (QoQ) (Q3) on 22nd December, 2021
•USD: Existing Home Sales (Nov) on 22nd December, 2021 |
NEWS UPDATES
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Reliance General Insurance Company will soon roll out nine sandbox products to cater to the fast transforming customer requirement in the insurance sector. The company has received sandbox approval for the nine products from the Insurance Regulatory and Development Authority of India (IRDAI) in one go in the 2nd cohort, the 4th largest private sector general insurer said.
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State-owned Indian Oil Corporation (IOC) on Tuesday said it has acquired a nearly 5 per cent stake in Indian Gas Exchange Ltd – the country’s first automated national level exchange for the trading of natural gas. IOC joins the likes of oil and gas explorer ONGC, gas utility GAIL Torrent Gas Pvt Ltd and Adani Total Gas Ltd which already have acquired 5 per cent equity each in IGX.
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Private sector lender CSB Bank on Tuesday said it has been empanelled as an ‘agency bank’ by the Reserve Bank of India (RBI) to undertake general banking business of central and state governments. This appointment will allow CSB Bank to undertake general banking business of the central and state governments which may be entrusted by the RBI.
-
Private sector Axis Bank has emerged as the highest bidder to buy Citi’s consumer banking business, according to sources.
-
Sajjan Jindal-led JSW Cement said on Tuesday State Bank of India (SBI) has acquired a minority stake in the cement company by investing Rs 100 crore via compulsorily convertible preference shares (CCPS).
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint.
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| AMARNATH | General | 22-Dec-21 | EMMSONS | Audited Results | 23-Dec-21 |
| ANUPAM | Bonus issue;Increase in Auth. Capital | 22-Dec-21 | GAIL | Interim Dividend;General | 23-Dec-21 |
| BIRLAMONEY | General | 22-Dec-21 | RADHEDE | General | 23-Dec-21 |
| CEINSYSTECH | Preferential Issue of shares;General | 22-Dec-21 | SANWARIA | Quarterly Results | 23-Dec-21 |
| DEEPAKNI | General | 22-Dec-21 | SIMPLEX | Audited Results | 23-Dec-21 |
| IBREALEST | General | 22-Dec-21 | TARMAT | Preferential Issue of shares | 23-Dec-21 |
| INTEGRA | Increase in Authorised Capital;Right Issue | 22-Dec-21 | TEGA | General | 23-Dec-21 |
| KUMPFIN | General | 22-Dec-21 | TWL | Quarterly Results | 23-Dec-21 |
| RPPINFRA | Right Issue of Equity Shares;General | 22-Dec-21 | UHZAVERI | Preferential Issue of shares | 23-Dec-21 |
| SALEM | General | 22-Dec-21 | EQUIPPP | General | 24-Dec-21 |
| TECHNOFAB | Quarterly Results | 22-Dec-21 | RNBDENIMS | General | 24-Dec-21 |
| BVCL | General | 23-Dec-21 | SAGL | Issue Of Warrants;Right Issue Pref. Issue | 24-Dec-21 |
| EASTWEST | Issue Of Warrants;Preferential Issue | 23-Dec-21 | SGIL | General | 24-Dec-21 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| IFINSEC | 22-Dec-21 | E.G.M. | CANFINHOME | 23-Dec-21 | Interim Dividend – Rs. – 1.5000 |
| POWERGRID | 22-Dec-21 | Interim Dividend – Rs. – 4.0000 | HIKLASS | 23-Dec-21 | Stock Split From Rs.10/- to Rs.5/- |
| POWERGRID | 22-Dec-21 | Special Dividend – Rs. – 3.0000 | HINDEVER | 23-Dec-21 | Stock Split From Rs.10/- to Rs.2/- |
| PRECWIRE | 22-Dec-21 | Stock Split From Rs.5/- to Rs.1/- | NEOGEN | 23-Dec-21 | E.G.M. |
| BCG | 23-Dec-21 | Final Dividend – Rs. – 0.0500 | PTL | 23-Dec-21 | Stock Split From Rs.2/- to Rs.1/- |
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