NIFTY:
NIFTY opened at 17768.50 wit ha big gap down of 157 points. The index moved further on the downside and recorded its intraday low at 17655.50. Prices have found intraday support and then consolidated. That consolidation broke on the upside and prices have seen an upside move to almost its early morning highs. The index recorded its intraday high at 17797.95, saw a minor decline in the last 30 minutes of trading, and finally closed at 17745.90 wit h a loss of 17.35 points or 1% down. All the sectoral indices have closed with a loss today except MEDIA and AUTO. The IT and REALTY sectors have led the bears today and ended with ; loss of more than 1%.
This is normal as we have witnessed a sharp upside move of almost 700 points. As mentioned before also, “After such a sharp move, prices tend to move narrow, choppy, and sideways ‘ The short-term trend is up and intact. Support is visible around 17500 while resistance may appear around 18000 levels. We have mentioned a few scenarios which couId suggest a trade. If the index holds this resistance then we may get to see a narrow trading range around 18000 levels. A breakout from that likely range will give us a trading opportunity
BANK NIFTY:
BANK NIFTY opened at 37164.25 wit h a big ga p down of 480 points. The index moved further of the downside and recorded its intraday at 37058.45. Prices then went into a consolidation and eventually broke on the upside. A sharp rally brought prices to its intraday high at 37752.50 ; finally the index closed at 37470.45 wit ha loss of 174 points. PSU BANKS have performed well today and closed wit ha gain of 0.48% while PVT BANKS have underperformed today and ended wit h a loss of 0.4′. Within the index, in terms of points, INDUSIND BANK contributed the highest while HDFC BANK contributed the lowest.
Buy the index on a retest at 37000 level. Keep a stop of 200 points and a target of 600 points. We have seen a sharp rally in last few trading days. This could lead prices to a phase of consolidation. Our approach should be using dips to buy.
TECHNICAL PICKS
| COMPANY NAME | CMP | B/S | RATIONALE+ |
| TATAPOWER | 228 | 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 229 with a stop loss of 225 and for the target of 235. |
| DEEPAKNTR | 2534 | 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 2540 with a stop loss of 2510 and target of 2600. |
DERIVATIVE PICKS
| Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| UPL | 800CE | BUY | 17 | CMP | 10 | 30 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| IOC.Jan 27 | 117.55 | 0 | 3.56 | 43660500 | CUB.Jan 27 | 140.6 | -3.13 | 16 | 10227200 | |
| LAURUSLABS.Jan 27 | 528 | 0.02 | 20.77 | 5112000 | JSWSTEEL.Jan 27 | 675.3 | -3.05 | 3.44 | 42572250 | |
| ICICIPRULI.Jan 27 | 576.95 | 0.03 | 2.23 | 5407500 | ULTRACEMCO.Jan 27 | 7472.75 | -2.94 | 9.07 | 1623900 | |
| DABUR.Jan 27 | 583.8 | 0.04 | 1.06 | 10255000 | PERSISTENT.Jan 27 | 4563.55 | -2.87 | 9.53 | 525750 | |
| HINDPETRO.Jan 27 | 314.9 | 0.05 | 2.97 | 11342700 | SHREECEM.Jan 27 | 26588.8 | -2.82 | 4.67 | 170275 | |
| Short Covering | Long Unwinding | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| FEDERALBNK.Jan 27 | 90.45 | 0.06 | -0.02 | 93750000 | SIEMENS.Jan 27 | 2293 | -1.6 | -1.01 | 1936550 | |
| UBL.Jan 27 | 1586 | 0.17 | -1.13 | 1135050 | AMBUJACEM.Jan 27 | 388.15 | -1.58 | -0.51 | 12841500 | |
| VEDL.Jan 27 | 338.4 | 1.05 | -0.46 | 57870800 | NESTLEIND.Jan 27 | 19710 | -1.53 | -0.24 | 303725 | |
| GAIL.Jan 27 | 139.1 | 1.79 | -0.21 | 37722400 | FINNIFTY.Jan 25 | 18200 | -1.25 | -6.38 | 1760 | |
| MOTHERSUMI.Jan 27 | 233.75 | 4.17 | -0.8 | 26792500 | TORNTPHARM.Jan 27 | 3173.2 | -1.19 | -0.71 | 702250 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Atul Ltd. | 9157.7 | -0.53 | 26244 | 0 | 89.73 | Nifty 50 | 17745.9 | -1 | 78375 | |
| Hdfc Ltd. | 2620.4 | -1.99 | 4616700 | 0 | 76.65 | Nifty Bank | 37490.25 | -0.55 | 78375 | |
| Cummins India Limited | 941.65 | 1.33 | 714262 | 0 | 74.71 | Nifty it | 38009 | -1.55 | 78375 | |
| Hindustan Unilever Ltd | 2391.4 | -1.01 | 1198901 | 0 | 70.72 | Nifty Auto | 11316.6 | 0.53 | 78375 | |
| Divi S Laboratories Limi | 4489.15 | -1.52 | 447726 | 0 | 69.26 | Nifty Metal | 5656 | -0.5 | 78375 | |
| Mahanagar Gas Limited | 878.9 | 0.14 | 1171642 | 0 | 68.75 | India Vix | 17.98 | 4.34 | 78375 | |
| Piind | 2954.3 | -1.3 | 173758 | 0 | 67.73 | Nifty Pharma | 13912.25 | -0.63 | 78375 | |
| Metropolis Healthcare Li | 3335.8 | -2.31 | 100180 | 0 | 65.92 | Nifty Auto | 11316.6 | 0.53 | 78375 | |
| City Union Bank Ltd. | 140 | -2.98 | 4416454 | 0 | 64.45 | Nifty Metal | 5656 | -0.5 | 78375 | |
| Hdfc Life Insurance Comp | 646.9 | -1.02 | 2548339 | 0 | 63.48 | Nifty Realty | 485.65 | -1.47 | 78378 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: FX Reserves, USD on 7th January, 2022
INR: CPI (YoY) (Dec) on 12th January, 2022 |
•USD: Nonfarm Payrolls (Dec) on 7th January 2022
•USD : Unemployment Rate (Dec) on 7th January 2022 |
NEWS UPDATES
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Reliance Retail has bought a 25.8 per cent stake in Dunzo, India’s leading quick commerce player, for USD 200 million (around Rs 1,488 crore) as it looks to expand its presence in online grocery delivery business. Dunzo raised $240 million in its latest funding round that was led by Reliance Retail Ventures Ltd – the retail arm of Reliance Industries.
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Tata Starbucks on Thursday announced entry into six new markets as part of its expansion into smaller cities in India. With these new additions, the company now operates 252 Starbucks stores in 26 cities. It is entering into — Siliguri, Nashik, Guwahati, Thiruvananthapuram, Goa and Bhubaneswar.
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Pharmaceuticals firm Wockhardt Ltd on Thursday said its board has approved a proposal to raise up to Rs 1,000 crore through a rights issue. The objective of the issue is to meet the company’s financing needs for repayment of subordinated debt due, financing research and development initiatives and general corporate purposes, among others, permitted by law, Wockhardt Ltd said in a regulatory filing.
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B2B e-online marketplace IndiaMART on Thursday said it has invested about Rs 133.5 million via its wholly-owned subsidiary Tradezeal Online Pvt Ltd to acquire a 26.01 per cent stake in EasyEcom. Edgewise Technologies – under the brand name ‘EasyEcom’ – offers AI-driven omnichannel inventory and warehouse management solutions to merchants. Its solutions allow merchants to allocate, track and reconcile inventory across various online and offline sales channels.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| AREXMIS | General | 07-Jan-22 | SBC | Stock Split;Bonus issue | 07-Jan-22 |
| CHOTHANI | General | 07-Jan-22 | SPSINT | Quarterly Results | 07-Jan-22 |
| GMBREW | Quarterly Results | 07-Jan-22 | TROMBOEXT | General | 07-Jan-22 |
| INDOWIND | Right Issue of Equity Shares | 07-Jan-22 | UNISH | General | 07-Jan-22 |
| INFRATRUST | General | 07-Jan-22 | WARNER | General | 07-Jan-22 |
| INTELLADV | General | 07-Jan-22 | ADVIKLA | Quarterly Results | 08-Jan-22 |
| JHACC | General | 07-Jan-22 | DESHRAK | General | 08-Jan-22 |
| NAUKRI | Interim Dividend | 07-Jan-22 | DMART | Quarterly Results | 08-Jan-22 |
| POLYSPIN | General | 07-Jan-22 | EARUM | Quarterly Results | 08-Jan-22 |
| PSITINFRA | General | 07-Jan-22 | FRASER | Quarterly Results | 08-Jan-22 |
| RAJNISH | General | 07-Jan-22 | SURJIND | General;Quarterly Results | 08-Jan-22 |
| REGENTRP | General | 07-Jan-22 | YURANUS | Quarterly Results | 08-Jan-22 |
| SABOOSOD | General;Right Issue of Equity Shares | 07-Jan-22 | AVI | Quarterly Results | 09-Jan-22 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| IMFA | 07-Jan-22 | Bonus issue 1:1 | SINDHUTRAD | 12-Jan-22 | E.G.M. |
| IPCALAB | 10-Jan-22 | Stock Split From Rs.2/- to Rs.1/- | SMLT | 12-Jan-22 | Interim Dividend – Rs. – 1.0000 |
| AXITA | 11-Jan-22 | Bonus issue 1:2 | AJANTPHARM | 13-Jan-22 | Buy Back of Shares |
| GMRINFRA | 11-Jan-22 | Spin Off | BHATIA | 13-Jan-22 | E.G.M. |
| SCHABLON | 11-Jan-22 | Amalgamation | INDOAMIN | 13-Jan-22 | Stock Split From Rs.10/- to Rs.5/- |
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