NIFTY:
NIFTY opened at 17244.50 with a gap up of just 41 points. The index recorded its intraday low at 17238.50 in its early trade and rallied higher. Prices have seen a sharp up move within the first 30 minutes of trading, broke above 17300,and then rallied further to record its intraday high at 17400.80. Prices have spent its second half moving sideways and narrow and finally closed at 17354.05 near its daily highs with a gain of 150.10 points or 0.87% up. All the sectoral indices have closed with gains. The IT sector underperformed and ended with marginal gains. The rest of the sectors have gained nearly 1% or higher.
We should only take trades on the long side as far as the index is trading above 17200. The previous resistance zone inside 17150 – 17200 should now act as a support level. While psychological resistance should come around 17500. The long-term trend is down while the long-term momentum has bounced up from the weak zone and is now heading towards the strength zone. The Intermediate trend is up while the intermediate momentum has reached with in the strength zone. Both the momentums have aligned on the upside suggesting higher levels are ahead.
BANK NIFTY:
BANK NIFTY opened at 35114.40 without any gap up. However, the index started moving higher from its opening tick and saw a sharp rally o about 400 points in just one hours. The index recorded its intraday low at 35113.75 and its intraday high at 35596.95. Prices have consolidated in most part of today’s trading session and finally closed at 35503.20 with a gain of 372 points. PSU and PVT BANKS both have performed well today and closed with a gain of 1.61% and 1.05% respectively. Within the index, in terms of points, HDFC BANK contributed the highest while RBL BANK contributed the lowest.
We have been mentioning that the index is moving very narrow. That narrow movement resolved on the upside. The short-term trend is now upward it will be up as long as prices are trading above 35000.
TECHNICAL PICKS
| COMPANY NAME | CMP | B/S | RATIONALE+ |
| BHARTIARTL | 683 | 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 685 with a stop loss of 675 and for the target of 695. |
| HINDUNILVR | 2360 | 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 2365 with a stop loss of 2340 and target of 2410. |
DERIVATIVE PICKS
| Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| POLYCAB | 2460 CE | BUY | 97 | 70 | 150 | 65 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| AUBANK.Jan 27 | 1039.75 | 0.01 | 2999.15 | 3641500 | NTPC.Jan 27 | 123.5 | -2.64 | 742.42 | 53876400 | |
| ALKEM.Jan 27 | 3645.2 | 0.12 | 217.23 | 320400 | RBLBANK.Jan 27 | 127.4 | -2.23 | 551.88 | 33158600 | |
| GRANULES.Jan 27 | 338.1 | 0.13 | 1903.27 | 13289700 | GMRINFRA.Jan 27 | 45.95 | -1.61 | 2922.5 | 1.36E+08 | |
| METROPOLIS.Jan 27 | 3453.35 | 0.15 | 431.77 | 522200 | CUB.Jan 27 | 135.5 | -0.48 | 1885.21 | 9584600 | |
| WHIRLPOOL.Jan 27 | 1766.2 | 0.26 | 1720.41 | 892000 | POWERGRID.Jan 27 | 205.25 | -0.34 | 1309.87 | 28947524 | |
| Short Covering | Long Unwinding | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| FINNIFTY.Jan 25 | 17400 | 0.44 | -9.3 | 1560 | ||||||
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Honeywell Auto India Ltd | 42170.95 | 2.72 | 9533 | 3922 | 80.63 | Nifty 50 | 17354.05 | 0.87 | 25662532 | |
| City Union Bank Ltd. | 134.65 | -0.96 | 1552392 | 1082910 | 79.85 | Nifty Bank | 35481.7 | 1.19 | 12562463 | |
| Hindustan Unilever Ltd | 2360.15 | 1.49 | 1123597 | 719426 | 70.62 | Nifty it | 38701 | 0.11 | 811421 | |
| Hero Motocorp Limited | 2462.1 | 1.24 | 253608 | 80927 | 69.79 | Nifty Realty | 484.15 | 1.21 | 9.19E+08 | |
| Infosys Limited | 1887.75 | -0.27 | 4619420 | 3135757 | 68.83 | Nifty Pharma | 14223 | 0.62 | 31298571 | |
| Larsen & Toubro Limited | 1895.9 | 0.54 | 1145546 | 705848 | 68.7 | India Vix | 16.22 | -2.11 | 2.71E+08 | |
| Upl Limited | 747.1 | 0.06 | 1131359 | 481192 | 67.58 | Nifty Energy | 22631.95 | 0.65 | 876717 | |
| Tata Consultancy Serv Lt | 3738.35 | 0.12 | 1207141 | 727618 | 65.91 | Nifty Fmcg | 37579.95 | 1.36 | 322732 | |
| Icici Bank Ltd. | 740.15 | 0.6 | 6973055 | 3750876 | 65 | Nifty Auto | 10936.9 | 1.69 | 40808890 | |
| Kotak Mahindra Bank Limi | 1796.1 | 2.33 | 2212892 | 1365083 | 64.43 | Nifty Metal | 5521.75 | 1.94 | 80798819 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: Nikkei Markit Manufacturing PMI (Dec) on 3rd January, 2022
INR: Trade Balance on 3rd January, 2022 |
•USD: ISM Manufacturing PMI (Dec) on 3rd January 2022
•USD : Crude Oil Inventories on 5th January 2022 |
NEWS UPDATES
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India’s fiscal deficit in April-November, the first eight months of current fiscal year, narrowed to 46.2% of the full-year budgeted target, helped by a rise in tax collections, government data showed on Friday. The fiscal deficit had surged to 135.1% of the full-year target during the same period last fiscal year. The fiscal deficit for eight months ending November stood at Rs 6.96 trillion ($93.7 billion) against Rs 15.07 trillion target for the whole fiscal year, the data showed.
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China will cut its subsidies on new energy vehicles (NEV), such as electric cars, by 30% next year, the Finance Ministry said on Friday.
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Tech Mahindra on Friday said it has approved a proposal for the acquisition of a 100 per cent stake in Allyis India and Green Investments, for a total consideration of up to USD 125 million. The acquisition is expected to bolster Tech Mahindra’s capabilities in digital experience solutions – learning and development, marketing, instructional design; and engineering – cloud and automation, analytics, and technical support services.
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Hindustan Unilever (HUL) said on Friday that it will supply its products uninterrupted, clarifying that it had no exclusive deals with organised online businesses that traditional distributors allege are being favoured unfairly.
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Cadila Healthcare on Friday said its US arm Zydus Pharmaceuticals (USA) Inc has received tentative approval from the US health regulator to market generic Pimavanserin capsules, indicated for treatment of hallucinations and delusions associated with Parkinson’s disease psychosis.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint.
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| MEL | General | 03-Jan-22 | SHIVAMAUTO | General | 03-Jan-22 |
| KRETTOSYS | Bonus issue;In. in Auth. Cap.;Stock Split | 03-Jan-22 | SMLT | Interim Dividend | 03-Jan-22 |
| SMLT | Interim Dividend | 03-Jan-22 | ALFAVIO | General | 04-Jan-22 |
| KGPETRO | General | 03-Jan-22 | BHAGCHEM | Increase in Authorised Capital;General | 04-Jan-22 |
| SHIVAMAUTO | General | 03-Jan-22 | GENNEX | General | 04-Jan-22 |
| ASHSI | General | 03-Jan-22 | KANELIND | Quarterly Results | 04-Jan-22 |
| VENLONENT | General | 03-Jan-22 | MCCHRLS-B | General | 04-Jan-22 |
| SHRIRAMEPC | Preferential Issue of shares;General | 03-Jan-22 | MUKTA | Stock Split | 04-Jan-22 |
| MUKTA | Stock Split | 04-Jan-22 | MYSTICELE | Stock Split | 04-Jan-22 |
| MYSTICELE | Stock Split | 04-Jan-22 | NOUVEAU | Stock Split | 04-Jan-22 |
| NOUVEAU | Stock Split | 04-Jan-22 | STERPOW | General | 04-Jan-22 |
| GENNEX | General | 04-Jan-22 | DHRUV | General | 05-Jan-22 |
| STERPOW | General | 04-Jan-22 | KACL | General | 05-Jan-22 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| QUANTDIA | 04-Jan-22 | E.G.M. | IPCALAB | 10-Jan-22 | Stock Split From Rs.2/- to Rs.1/- |
| JOHNPHARMA | 05-Jan-22 | Stock Split From Rs.10/- to Rs.1/- | SINDHUTRAD | 12-Jan-22 | E.G.M. |
| MANGTIMBER | 05-Jan-22 | Amalgamation | AJANTPHARM | 13-Jan-22 | Buy Back of Shares |
| MAZDOCK | 06-Jan-22 | Interim Dividend – Rs. – 7.1000 | BHATIA | 13-Jan-22 | E.G.M. |
| IMFA | 07-Jan-22 | Bonus issue 1:1 | INDOAMIN | 13-Jan-22 | Stock Split From Rs.10/- to Rs.5/- |
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