NIFTY:
NIFTY opened at 17062 with a big gap down of 215 points. The index continued its bearish momentum and fell further to nearly 200 to record its intraday low at 16866.75. Prices have found intraday support there and started moving on the upside. The index broke its early morning highs in the afternoon and kept on moving higher. The index recorded its intraday high at 17182.50 and failed to fill the gap down. A minor correction came in the last hour of trading and the index finally closed at 17110.15 with a loss of 167.80 points or 0.97% down. BANK,AUTO, and MEDIA outperformed today and closed higher. IT,REALTY, PHARMA, and FMCG have led the bears today and closed lower by more than 1%.
The short-term trend is sideways and it will be sideways as far as prices are trading between the 17000 – 17300 range. A close above 17300 will suggest us a buying opportunity while a close below 17000 will suggest us going short in the markets. We should avoid trading the index at least for this week as trading in volatile markets gives a lot of whipsaws. We should wait for prices to stabilize first and then we will plan our trade accordingly.
BANK NIFTY:
BANK NIFTY opened at 37058.20 with a big gap down of 656 points. The index first consolidated in a tight narrow range and recorded its intraday low at 37012.25.Prices then broke out and saw a sharp intraday rally to record its intraday high at 38147.65.The index finally closed at 38094.90 with again of 380 points. PSU BANKS have continued its outperformance and closed higher by 5.07%.PVT BANKS have also moved up today and ended with a marginal gain of 0.51%.Withinthe index, in terms of points, AXIS BANK contributed the highest while ICICI BANKS contributed the lowest.
As of now we do not have an adequate trading setup. We will get a trading opportunity soon when the volatility cools down. TiIl then avoid trading the index.
TECHNICAL PICKS
| COMPANY NAME | CMP | B/S | RATIONALE+ |
| POLYCAB | 2489 | 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 2490 with a stop loss of 2470 and for the target of 2540. |
| LUPIN | 888 | 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 886 with a stop loss of 896 and target of 870. |
DERIVATIVE PICKS
| Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| CANBK | 245 CE | BUY | 10 | CMP | 7 | 16 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| SUNPHARMA.Jan 27 | 810.25 | 0.09 | 1.89 | 5838700 | SHREECEM.Jan 27 | 23964.2 | -2.25 | 0.43 | 52900 | |
| HAL.Jan 27 | 1423.5 | 0.09 | 1.3 | 1625925 | POWERGRID.Jan 27 | 214.8 | -1.9 | 0.56 | 10495344 | |
| ONGC.Jan 27 | 164.9 | 0.09 | 3.48 | 45568600 | NBCC.Jan 27 | 45.7 | -1.08 | 0.91 | 14616000 | |
| ITC.Jan 27 | 215.1 | 0.16 | 4.26 | 52921600 | SAIL.Jan 27 | 96.4 | -1.23 | 1.26 | 59774000 | |
| M&M.Jan 27 | 859.8 | 0.52 | 20.9 | 4134900 | RELIANCE.Jan 27 | 2345.05 | -1.22 | 1.3 | 10679250 | |
| Short Covering | Long Unwinding | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| BEL.Jan 27 | 204.4 | 0.05 | -14.42 | 9541800 | INDIAMART.Jan 27 | 4540 | -9.14 | -23.37 | 69600 | |
| NATIONALUM.Jan 27 | 107.3 | 0.19 | -8.26 | 57103000 | COFORGE.Jan 27 | 4411.8 | -7.8 | -7.45 | 212500 | |
| MANAPPURAM.Jan 27 | 153.5 | 0.23 | -17.17 | 4473000 | DALBHARAT.Jan 27 | 1712.8 | -7.05 | -30.38 | 90500 | |
| CUB.Jan 27 | 143.5 | 0.24 | -4.9 | 2441200 | SRF.Jan 27 | 2349.65 | -5.14 | -37.39 | 558750 | |
| BANKNIFTY.Jan 27 | 37984.55 | 0.7 | -50.63 | 474025 | LTTS.Jan 27 | 4358.55 | -4.93 | -3.91 | 285400 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Whirlpool | 1791.7 | 0.64 | 238277 | 0 | 81.08 | Nifty 50 | 17110.15 | -0.97 | 80949 | |
| Max Financial Services l | 894.3 | 1.07 | 865685 | 0 | 78.22 | Nifty Bank | 37982.1 | 0.73 | 80952 | |
| Dabur India Ltd. | 529.05 | -2.53 | 2183776 | 0 | 68.19 | Nifty it | 33475.05 | -3.55 | 80952 | |
| Infosys Limited | 1678.6 | -2.53 | 11231734 | 0 | 68.01 | Nifty Auto | 11561.6 | 0.34 | 80955 | |
| Hdfc Ltd. | 2503.35 | -1.08 | 6600059 | 0 | 66.78 | Nifty Metal | 5445.9 | -0.72 | 80955 | |
| Hindustan Unilever Ltd | 2295.35 | -1.37 | 2620474 | 0 | 66.47 | Nifty Media | 2185.5 | 0.59 | 80955 | |
| Tata Consultancy Serv Lt | 3649.25 | -3.2 | 5718297 | 0 | 62.9 | India Vix | 21.07 | -1.38 | 80952 | |
| Mah & Mah Ltd. | 858.05 | 0.42 | 2927566 | 0 | 62.39 | Nifty Fmcg | 35966.8 | -1.14 | 80949 | |
| Asian Paints Limited | 3116.95 | -0.96 | 1834684 | 0 | 62.22 | Nifty Realty | 462.1 | -1.81 | 80955 | |
| Piind | 2373.5 | -2.24 | 516832 | 0 | 61.22 | Nifty Pharma | 12847.9 | -1.87 | 80955 | |
| Ultratech Cement Limited | 7100.7 | 0.03 | 418032 | 0 | 60.98 | Nifty Financial Services | 17763.15 | -0.15 | 80955 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: FX Reserves, USD on 28th January, 2022
INR: Bank Loan and Deposit growth on 28th January, 2022 |
•USD: ISM Manufacturing PMI (Jan) on 1st February 2022
• |
NEWS UPDATES
- Bharti Airtel on Thursday announced that its subsidiary Airtel Africa has been included in the FTSE 100 Index, which includes the top 100 companies on the London Stock exchange, with effect from January 31, 2022. Airtel Africa was listed on the London Stock Exchange in June 2019. This is a significant milestone for Airtel Africa, which becomes part of the FTSE 100 in just two and a half years of listing on the London Stock Exchange joining the most valuable companies.
- Larsen & Toubro Infotech, a global technology consulting and digital solutions company is partnering with IIT Madras, one of India’s leading research institutes, for collaborative research in the field of 5G. Through this collaboration, LTI and IIT Madras aim to innovate in the emerging 5G space and enable 5G frameworks validation, low-frequency RF deployments and use case testing with 5G testbed.
- Wockhardt on Thursday reported a consolidated net profit of Rs 1.77 crore for the third quarter ended December 31, 2021. The company had posted a net profit of Rs 32.4 crore in the same period of 2020-21 fiscal. Income from continuing operations rose to Rs 853.89 crore in the third quarter as against Rs 764.02 crore in the October-December period of the previous fiscal, Wockhardt said in a regulatory filing.
- Tata Sons Pvt formally took charge of debt-laden Air India Ltd., ending years of failed attempts to sell the money-losing airline that has been kept afloat with billions of dollars of taxpayer money.
- Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| 3IINFOTECH | Quarterly Results | 28-Jan-22 | FLUOROCHEM | Quarterly Results | 28-Jan-22 |
| ATUL | Quarterly Results | 28-Jan-22 | GSFC | Quarterly Results | 28-Jan-22 |
| AUBANK | Quarterly Results | 28-Jan-22 | HAPPSTMNDS | Quarterly Results;General | 28-Jan-22 |
| AUROLAB | General;Quarterly Results | 28-Jan-22 | KOTAKBANK | Quarterly Results | 28-Jan-22 |
| BAJAJHCARE | Quarterly Results | 28-Jan-22 | KTKBANK | Quarterly Results | 28-Jan-22 |
| BEL | Interim Dividend;Quarterly Results | 28-Jan-22 | LT | Quarterly Results | 28-Jan-22 |
| BHARTIARTL | Preferential Issue of shares | 28-Jan-22 | MARICO | Interim Dividend;Quarterly Results | 28-Jan-22 |
| BLUEDART | Interim Dividend;Quarterly Results | 28-Jan-22 | MFSL | Quarterly Results | 28-Jan-22 |
| BRITANNIA | Quarterly Results | 28-Jan-22 | MRPL | Quarterly Results | 28-Jan-22 |
| CENTRALBK | Quarterly Results | 28-Jan-22 | NAUKRI | Quarterly Results | 28-Jan-22 |
| CENTURYPLY | General;Quarterly Results | 28-Jan-22 | NIITLTD | Interim Dividend;Quarterly Results | 28-Jan-22 |
| CHAMBLFERT | Interim Dividend;Quarterly Results | 28-Jan-22 | OBEROIRLTY | Quarterly Results | 28-Jan-22 |
| CROMPTON | Quarterly Results | 28-Jan-22 | POWERMECH | Quarterly Results | 28-Jan-22 |
| DBCORP | Quarterly Results | 28-Jan-22 | SUZLON | Quarterly Results | 28-Jan-22 |
| DEEPAKFERT | Quarterly Results | 28-Jan-22 | TATACOFFEE | Quarterly Results | 28-Jan-22 |
| DIXON | Quarterly Results | 28-Jan-22 | TCIDEVELOP | Quarterly Results | 28-Jan-22 |
| DRREDDY | Quarterly Results | 28-Jan-22 | TCIEXP | Quarterly Results;Interim Dividend | 28-Jan-22 |
| EMBASSY | Quarterly Results | 28-Jan-22 | UBL | Quarterly Results | 28-Jan-22 |
| EQUITASBNK | Quarterly Results | 28-Jan-22 | UTIAMC | Quarterly Results;General | 28-Jan-22 |
| ERIS | Quarterly Results | 28-Jan-22 | VEDL | Quarterly Results | 28-Jan-22 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| RKFORGE | 28-Jan-22 | Interim Dividend – Rs. – 0.5000 | MASTEK | 31-Jan-22 | Interim Dividend – Rs. – 7.0000 |
| CCL | 31-Jan-22 | Interim Dividend – Rs. – 3.0000 | SAREGAMA | 31-Jan-22 | Interim Dividend – Rs. – 30.0000 |
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