NIFTY:
NIFTY opened at 17921 with a gap down of just 17 points. The index first consolidated, recorded its intraday high at 17943.70, and then started drifting downwards. Prices have seen a sharp decline of more than 150 points in just two hours and then saw a minor correction. That correct ion finds resistance and prices again moved own. The index recorded its intraday low at 17648.35 and then started rising. Prices have moved up almost 100 points and finally closed at 17757 with a loss of 181.40 points or 1.01% down. The METAL and REALTY sectors have outperformed today and closed higher. The rest of the sectoral indices have closed lower led by the PHARMA, IT, and FMCG stocks.
Trading in volatile environment almost always ends with a lot of whipsaws. The index recorded its swing high around 18300. This should act as a resistance level. Support is visible around 17600. As of now, we do not have any adequate trading setup that could suggest a trade. So, we should avoid trading the index and wait for prices to stabilize first. The long-term trend is up while the long-term momentum has turned down today but still moving within the strength zone.
BANK NIFTY:
BANK NIFTY opened at 38106.10 with a gap up of 48 points. The index first consolidated, recorded its intraday high at 38167.95 and then broke on the downside. The index moved down, saw a minor correction in the afternoon and then again moved down. Prices have recorded its intraday low at 37591.85 and then again rallied to finally close at 37908.65 with a loss of 150 points. PVT and PSU BANKS both have seen a decline today and ended lower by 0.54% and 0.21% respectively. Within the index, in terms of points, ICICI BANK contributed the highest while HDFC BANK contributed the lowest.
The short-term trend has changed to sideways today as index closes below 38000 levels. Support is visible around 37400. Today, prices have come close to this level.
TECHNICAL PICKS
| COMPANY NAME | CMP | B/S | RATIONALE+ |
| MINDTREE | 4226 | SELL | The stock is on the verge of giving the breakout on the intraday as well as the daily chart. The stock can be sell below 4220 with a stop loss of 4260 and for the target of 4160. |
| TATAPOWER | 248 | 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 249 with a stop loss of 245 and target of 260. |
DERIVATIVE PICKS
| Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| SBIN | 510 CE | BUY | 12 | CMP | 8 | 20 | OI Increase |
| Long Buildup | Short Buildup | ||||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | ||
| SRTRANSFIN.Jan 27 | 1202.5 | 0.01 | 2.1 | 3313200 | HDFCAMC.Jan 27 | 2400.45 | -1.9 | 3.65 | 3109600 | 3109600 | |
| VOLTAS.Jan 27 | 1260 | 0.04 | 0.13 | 3045000 | HDFCLIFE.Jan 27 | 658.25 | -1.72 | 0.68 | 19671300 | 19671300 | |
| PIDILITIND.Jan 27 | 2692.4 | 0.08 | 1.49 | 2116500 | INDIAMART.Jan 27 | 6369.7 | -1.77 | 8.94 | 230400 | 230400 | |
| HINDPETRO.Jan 27 | 324.5 | 0.08 | 1.12 | 11971800 | INDIGO.Jan 27 | 2091.8 | -1.16 | 1.98 | 2630750 | 2630750 | |
| RELIANCE.Jan 27 | 2523.65 | 0.1 | 1.2 | 30491500 | EICHERMOT.Jan 27 | 2731.6 | -0.16 | 3.2 | 2402400 | 2402400 | |
| Short Covering | Long Unwinding | ||||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | ||
| BHARATFORG.Jan 27 | 761.5 | 0.16 | -1.2 | 6334500 | GRANULES. Jan 27 | 312.15 | -3.48 | -2.6 | 15283000 | 15283000 | |
| CHOLAFIN.Jan 27 | 613.3 | 0.21 | -1.87 | 7230000 | ADANIPORTS.Jan 27 | 744.85 | -2.55 | -5.32 | 82251250 | 82251250 | |
| LAURUSLABS.Jan 27 | 499.95 | 0.21 | -1.02 | 4547700 | LICHSGFIN.Jan 27 | 371.3 | -2.11 | -1.2 | 18836000 | 18836000 | |
| AUBANK.Jan 27 | 1263 | 0.26 | -4.84 | 2910000 | GRASIM.Jan 27 | 1814.8 | -2.07 | -0.97 | 10146475 | 10146475 | |
| ESCORTS.Jan 27 | 1867 | 0.4 | -0.76 | 5954850 | MFSL.Jan 27 | 997.2 | -1.93 | -0.27 | 1927900 | 1927900 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Pfizer Ltd. | 4755.15 | -1.65 | 32600 | 0 | 86.77 | Nifty 50 | 17938.4 | -0.96 | 81099 | |
| Crompton Greaves Consume | 435.55 | 0.06 | 1461755 | 0 | 72.43 | Nifty Bank | 38041.35 | -0.44 | 81108 | |
| Hdfc Asset Management Co | 2394.2 | -2.26 | 264613 | 0 | 71.41 | Nifty Fmcg | 37106.4 | -1.06 | 81105 | |
| Hdfc Ltd. | 2620.25 | -1.59 | 1793748 | 0 | 71.29 | India Vix | 17.82 | 0.21 | 81108 | |
| Icici Lombard General In | 1423 | -1.7 | 452596 | 0 | 69.54 | Nifty Realty | 501.9 | -0.15 | 81105 | |
| Tata Consultancy Serv Lt | 3914.65 | -1.9 | 3102539 | 0 | 68.47 | Nifty Pharma | 13682.7 | -0.11 | 81105 | |
| Power Grid Corporation o | 204.65 | -0.24 | 10293276 | 0 | 68.38 | Nifty Media | 2324.6 | 1.01 | 81105 | |
| Hindustan Unilever Ltd | 2309.9 | -2.52 | 2145255 | 0 | 67.57 | Nifty Metal | 5801.1 | 0.8 | 81105 | |
| Container Corp Of India | 671.2 | -1.42 | 748775 | 0 | 66.43 | Nifty Auto | 11681.4 | 0.71 | 81105 | |
| Marico Limited | 494.4 | 0.78 | 899160 | 0 | 65.22 | Nifty Financial Services | 18269.95 | -1.08 | 81105 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: FX Reserves, USD on 21st January, 2022
INR: Bank Loan and Deposit growth on 21st January, 2022 |
•USD: CB Consumer Confidence on 25th January 2022
• |
NEWS UPDATES
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Larsen & Toubro (L&T) on Thursday said its heavy engineering arm has dispatched six of the world’s largest coke drums to Mexico. These coke drums were successfully manufactured during the COVID-19 pandemic at L&T’s state-of-the-art Heavy Engineering Complex located at Hazira near Surat, the company said in a statement.
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Hindustan Unilever on Thursday reported 17% jump in net profit at Rs 2,243 crore for the quarter ending December 31, 2021 as it gained market share in both urban and rural areas as India emerged from coronavirus-related lockdowns.. It posted net profit of Rs 1,921 crore in year-ago period. Growth in the quarter was competitive and profitable with domestic consumer growth of 11%. Business fundamentals remained strong with handsome market share gains in all our divisions, both urban and rural markets and across price segments. Underlying volume growth at 2% was significantly ahead of the market, the company said in a stock exchange filing.
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Bank of Maharashtra posted a 110.7 per cent rise in net profit at Rs 325 crore for the third quarter ended December 2021 (Q3FY22) on robust growth in net interest income. The net profit was Rs 154 crore in Q3FY21 and Rs 263 crore in the second quarter ended September 2021 (Q2FY22). The Pune-based lender’s stock was trading 2.56 per cent lower at Rs 20.95 per share on BSE.
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Walmart, the world’s largest retailer, is now inviting select Indian sellers to apply to join Walmart Marketplace, a curated sellers community that serves more than 120 million US shoppers each month. This initiative expands on over 20 years of Walmart’s engagement with Indian exporters.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint.
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| 20MICRONS | Audited Results | 21-Jan-22 | KAJARIACER | Quarterly Results | 21-Jan-22 |
| AMAL | General | 21-Jan-22 | L&TFH | Quarterly Results | 21-Jan-22 |
| BANDHANBNK | Quarterly Results | 21-Jan-22 | MAXVIL | Quarterly Results | 21-Jan-22 |
| CALSOFT | Quarterly Results | 21-Jan-22 | NETLINK | General;Quarterly Results | 21-Jan-22 |
| CSBBANK | Quarterly Results | 21-Jan-22 | NGIL | General;Quarterly Results | 21-Jan-22 |
| CYBERTECH | Quarterly Results | 21-Jan-22 | OAL | Quarterly Results | 21-Jan-22 |
| GLAND | Quarterly Results | 21-Jan-22 | ORIENTALTL | Quarterly Results | 21-Jan-22 |
| GOKEX | Quarterly Results | 21-Jan-22 | PNBGILTS | Quarterly Results | 21-Jan-22 |
| HDFCLIFE | Quarterly Results | 21-Jan-22 | POLYCAB | Quarterly Results | 21-Jan-22 |
| HERITGFOOD | Quarterly Results | 21-Jan-22 | PVR | Quarterly Results | 21-Jan-22 |
| HINDZINC | Quarterly Results | 21-Jan-22 | RAMCOIND | Quarterly Results | 21-Jan-22 |
| IDBI | Quarterly Results | 21-Jan-22 | RELIANCE | Quarterly Results | 21-Jan-22 |
| IDEA | Quarterly Results | 21-Jan-22 | SBILIFE | Quarterly Results | 21-Jan-22 |
| INOXLEISUR | Quarterly Results | 21-Jan-22 | SUPRIYA | Quarterly Results | 21-Jan-22 |
| INVENTURE | Quarterly Results | 21-Jan-22 | TANLA | Quarterly Results | 21-Jan-22 |
| JSWSTEEL | Quarterly Results | 21-Jan-22 | VINYLINDIA | Quarterly Results | 21-Jan-22 |
| JYOTHYLAB | Quarterly Results | 21-Jan-22 | WENDT | Interim Dividend;Quarterly Results | 21-Jan-22 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| WIPRO | 21-Jan-22 | Interim Dividend – Rs. – 1.00 | KPIGLOBAL | 24-Jan-22 | Interim Dividend – Rs. – 0.40 |
| ANGELONE | 24-Jan-22 | Interim Dividend – Rs. – 7.00 | LTTS | 25-Jan-22 | Interim Dividend – Rs. – 10.00 |
| CESC | 24-Jan-22 | Interim Dividend – Rs. – 4.50 | BEPL | 27-Jan-22 | Interim Dividend – Rs. – 1.00 |
| DCMSHRIRAM | 24-Jan-22 | Interim Dividend – Rs. – 5.20 | CHOTHANI | 27-Jan-22 | E.G.M. |
| KPEL | 24-Jan-22 | Interim Dividend – Rs. – 0.2500 | GROWINGTON | 27-Jan-22 | E.G.M. |
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