NIFTY:
NIFTY opened at 17706.20 with a big gap up of 130 points. The index initially went down for the first 10 minutes of trading and recorded its intraday low at 17674.80. Prices then consolidated and then again went down. However, the index finds support there and bounced up. A sharp rally brought the index to its intraday high at 17794.60. In the afternoon, the index again consolidated for almost two hours but eventually closed at 17780 near its intraday highs with a gain of 203.15 points or 1.16% up. All the sectoral indices have closed with gains. BANKS have outperformed today and ended more than 2% higher followed by the FINANCIAL IT and FMCG that ended with again of more than 1%.
The Support is now visible around 17500 while psychological resistance is visible around 18000. It is possible that prices may hold 18000 level and formed a trading range around that level.
Fresh trading opportunities for carry forward traders will emerge after a consolidation. Our approach should be buying he dips and selling on rallies if finds resistance.
BANK NIFTY:
BANK NIFTY opened at 38841.55 with a big gap up of 273 points. The index recorded its intraday low at 38752.65 within the first five minute of trading and then moved up. The rally continued for the whole day and prices have recorded its intraday high at 39386.60.The index finally closed at 39338.20 near its today’s high with a gain of 770 points. PVT and PSU BANKS both performed well today, saw a sharp intraday rally and closed with a gain of 2.33% & 3.41% respectively. Within the index, in terms of points, HDFC BANK contributed the highest followed by KOTAKBANK .
The short-term trend is up now as prices have broken above decisively above the previous swing high and made a pattern of higher highs. We have been expecting a consolidation due to the volatile movement in the recent days.
TECHNICAL PICKS
| COMPANY NAME | CMP | B/S | RATIONALE+ |
| IGL | 407 | 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 408 with a stop loss of 401 and for the target of 420. |
| ADANIENT | 1779 | 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 bought above 1782 with a stop loss of 1760 and target of 1820. |
DERIVATIVE PICKS
| Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| NAUKRI | 5100CE | BUY | 203 | CMP | 170 | 280 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| EXIDEIND.Feb 24 | 173.6 | 0 | 1.16 | 24573600 | JUBLFOOD.Feb 24 | 3304.05 | -4.17 | 25.42 | 2515625 | |
| M&M.Feb 24 | 873.25 | 0.02 | 2.48 | 11347700 | CHAMBLFERT.Feb 24 | 401.7 | -4.04 | 9.34 | 3793500 | |
| WHIRLPOOL.Feb 24 | 1842.95 | 0.04 | 6.25 | 633000 | CHOLAFIN.Feb 24 | 637.35 | -2.9 | 19.81 | 7425000 | |
| TATASTEEL.Feb 24 | 1172.6 | 0.09 | 1.18 | 44681525 | BALKRISIND.Feb 24 | 2324.5 | -2.82 | 2.83 | 1066600 | |
| BAJAJ-AUTO.Feb 24 | 3543 | 0.11 | 0.38 | 2091750 | BALRAMCHIN.Feb 24 | 414.15 | -2.53 | 10.72 | 6974400 | |
| Short Covering | Long Unwinding | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| MARUTI.Feb 24 | 8571 | 0.06 | -4.02 | 2510100 | OBEROIRLTY.Feb 24 | 958.4 | -1.31 | -5.75 | 2625700 | |
| SRF.Feb 24 | 2454.95 | 0.14 | -2.1 | 2985750 | ULTRACEMCO.Feb 24 | 7472.2 | -0.71 | -1.69 | 1931000 | |
| UPL.Feb 24 | 789.75 | 0.34 | -0.18 | 28523300 | RAIN.Feb 24 | 227.85 | -0.39 | -0.46 | 6552500 | |
| TVSMOTOR.Feb 24 | 628 | 0.47 | -2.9 | 6988800 | INDIACEM.Feb 24 | 231.1 | -0.26 | -0.98 | 12922400 | |
| HINDCOPPER.Feb 24 | 128 | 0.55 | -0.88 | 15050000 | ||||||
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Crompton Greaves Consume | 412.55 | -0.54 | 3177292 | 0 | 76.91 | Nifty 50 | 17780 | 1.16 | 81279 | |
| Petronet Lng Limited | 213.6 | -0.65 | 2019330 | 0 | 70.99 | Nifty Bank | 39330.5 | 2.14 | 81279 | |
| Pidilite Industries Ltd | 2522.9 | 2.02 | 855656 | 0 | 69.23 | Nifty it | 35788.75 | 1.18 | 81279 | |
| Gujarat State Petronet l | 314.2 | 5.19 | 695368 | 0 | 65.64 | India Vix | 18.65 | -6.66 | 81279 | |
| Abbott India Limited | 16201.3 | 0.38 | 22394 | 0 | 65.22 | Nifty Fmcg | 37581.5 | 1.07 | 81279 | |
| Hcl Technologies Ltd. | 1170.95 | 3.37 | 6982539 | 0 | 63.53 | Nifty Media | 2286.95 | 1.77 | 81279 | |
| Max Financial Services l | 925.15 | -0.4 | 620013 | 0 | 60.73 | Nifty Pharma | 13643.65 | 1.23 | 81279 | |
| Abb Limited | 2296.7 | 0.42 | 324514 | 0 | 59.75 | Nifty Auto | 11632.4 | 0.14 | 81279 | |
| Coromandel International | 794.05 | 0.74 | 227248 | 0 | 59.23 | Nifty Metal | 5779.7 | 1.05 | 81279 | |
| Rec Limited | 142.05 | 1.79 | 3928860 | 0 | 58.57 | Nifty Realty | 495.5 | 1.4 | 81279 | |
| Hindustan Unilever Ltd | 2327.9 | 0.97 | 1246111 | 0 | 58.51 | Nifty Financial Services | 18408.8 | 1.93 | 81279 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: Nikkei Services PMI (Jan) on 3rd February, 2022 | •USD: Initial Jobless Claims on 3rd February 2022
•USD: ISM Non-Manufacturing PMI (Jan) on 3rd February 2022 |
NEWS UPDATES
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NMDC on Tuesday said its iron ore production surged over 28 per cent to 32.88 million tonnes (MT) in April-January 2021-22. The company’s iron ore output was 25.66 MT in the same period last fiscal, NMDC said in a regulatory filing. In January 2022, the company said its iron ore production rose to 4.56 MT from 3.86 MT a year ago.
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Dabur India on Wednesday reported a 2.19 per cent increase in consolidated net profit to Rs 504.35 crore for the third quarter ended on December 2021. The company had posted a consolidated net profit of Rs 493.50 crore in the October-December quarter a year ago, Dabur India said in a BSE filing. Its revenue from operations rose by 7.8 per cent to Rs 2,941.75 crore during the quarter under review as against Rs 2,728.84 crore in the corresponding quarter of the previous fiscal.
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Maruti Suzuki India (MSI) on Wednesday said it has witnessed a marginal increase in production last month. In a regulatory filing, the auto major reported a total production of 1,61,383 units in last month as compared to 1,60,975 units in January 2021. “The shortage of electronic components had a minor impact on the production of vehicles during the month,” it noted.
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Jubilant FoodWorks Ltd (JFL), which operates quick service restaurant (QSR) chains like Domino’s Pizza and Dunkin’ Donuts, on Wednesday reported a 7.48 per cent increase in its consolidated net profit to Rs 133.19 crore for the third quarter ended December 2021. The company had posted a net profit of Rs 123.91 crore in the corresponding quarter last year.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint.
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| 3MINDIA | General;Quarterly Results | 03-Feb-22 | KENNAMET | Quarterly Results | 03-Feb-22 |
| AAVAS | Quarterly Results | 03-Feb-22 | KIRLOSIND | Quarterly Results | 03-Feb-22 |
| ABCAPITAL | Quarterly Results | 03-Feb-22 | KOPRAN | Quarterly Results | 03-Feb-22 |
| ADANIPOWER | Quarterly Results | 03-Feb-22 | LUPIN | General;Quarterly Results | 03-Feb-22 |
| ADANITRANS | Quarterly Results | 03-Feb-22 | LUXIND | Quarterly Results | 03-Feb-22 |
| AMBIKCO | Quarterly Results | 03-Feb-22 | MARALOVER | Quarterly Results | 03-Feb-22 |
| BARBEQUE | Quarterly Results | 03-Feb-22 | NAHARPOLY | Quarterly Results | 03-Feb-22 |
| BRIGADE | Quarterly Results | 03-Feb-22 | NAHARSPING | Quarterly Results | 03-Feb-22 |
| CADILAHC | Quarterly Results | 03-Feb-22 | NITINSPIN | Interim Dividend;Quarterly Results | 03-Feb-22 |
| COROMANDEL | Quarterly Results | 03-Feb-22 | PFIZER | Quarterly Results | 03-Feb-22 |
| DCAL | Quarterly Results | 03-Feb-22 | PIIND | Interim Dividend;Quarterly Results | 03-Feb-22 |
| EIHOTEL | Quarterly Results | 03-Feb-22 | PRINCEPIPE | Quarterly Results | 03-Feb-22 |
| EMAMILTD | Interim Dividend;Quarterly Results | 03-Feb-22 | RADICO | Quarterly Results | 03-Feb-22 |
| ESTER | Quarterly Results | 03-Feb-22 | ROLEXRINGS | Quarterly Results | 03-Feb-22 |
| GAIL | General;Quarterly Results | 03-Feb-22 | SAHYADRI | General;Quarterly Results | 03-Feb-22 |
| GMM | Interim Dividend;Quarterly Results | 03-Feb-22 | SAKSOFT | Quarterly Results | 03-Feb-22 |
| GODREJPROP | Quarterly Results | 03-Feb-22 | SIS | Quarterly Results | 03-Feb-22 |
| GRINDWELL | Quarterly Results | 03-Feb-22 | SUMICHEM | Quarterly Results | 03-Feb-22 |
| HAWKINCOOK | Quarterly Results | 03-Feb-22 | SUNDRMFAST | Quarterly Results | 03-Feb-22 |
| HGINFRA | General;Quarterly Results | 03-Feb-22 | THOMASCOOK | General;Quarterly Results | 03-Feb-22 |
| IGPL | Quarterly Results | 03-Feb-22 | TITAN | Quarterly Results | 03-Feb-22 |
| ITC | Interim Dividend;Quarterly Results | 03-Feb-22 | TORNTPOWER | Interim Dividend;Quarterly Results | 03-Feb-22 |
| JKTYRE | Quarterly Results | 03-Feb-22 | VBL | Audited Results | 03-Feb-22 |
| JUBLINDS | Quarterly Results | 03-Feb-22 | WELSPUNIND | Quarterly Results | 03-Feb-22 |
| KALYANKJIL | Quarterly Results | 03-Feb-22 | WESTLIFE | Quarterly Results | 03-Feb-22 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| ACCELYA | 03-Feb-22 | Interim Dividend – Rs. – 17.0000 | NTPC | 03-Feb-22 | Interim Dividend – Rs. – 4.0000 |
| BIGBLOC | 03-Feb-22 | Interim Dividend – Rs. – 0.1000 | PARSHVA | 03-Feb-22 | Bonus issue 205:100 |
| DWL | 03-Feb-22 | E.G.M. | SANTETX | 03-Feb-22 | E.G.M. |
| GREENPANEL | 03-Feb-22 | Interim Dividend – Rs. – 1.5000 | SINDHUTRAD | 03-Feb-22 | Stock Split From Rs.10/- to Rs.1/- |
| GRMOVER | 03-Feb-22 | Interim Dividend – Rs. – 1.0000 | SRF | 03-Feb-22 | Interim Dividend – Rs. – 4.7500 |
| IEX | 03-Feb-22 | Interim Dividend – Rs. – 1.0000 | SWORDEDGE | 03-Feb-22 | Bonus issue 1:1 |
| IIFL | 03-Feb-22 | Interim Dividend – Rs. – 3.5000 | SYMPHONY | 03-Feb-22 | Interim Dividend – Rs. – 1.0000 |
| IIFLSEC | 03-Feb-22 | Interim Dividend – Rs. – 3.0000 | TCI | 03-Feb-22 | Interim Dividend – Rs. – 2.0000 |
| INTEGRA | 03-Feb-22 | Stock Split From Rs.3/- to Rs.1/- | TCIEXP | 03-Feb-22 | Interim Dividend – Rs. – 3.0000 |
| INTELLADV | 03-Feb-22 | E.G.M. | THANGAMAYL | 03-Feb-22 | Interim Dividend – Rs. – 5.0000 |
| KIRLFER | 03-Feb-22 | Interim Dividend – Rs. – 2.5000 | UPSURGE | 03-Feb-22 | Interim Dividend – Rs. – 0.5000 |
| LAOPALA | 03-Feb-22 | Interim Dividend – Rs. – 1.5000 | VAIBHAVGBL | 03-Feb-22 | Interim Dividend – Rs. – 1.5000 |
| MOTILALOFS | 03-Feb-22 | Interim Dividend – Rs. – 7.0000 | ZENSARTECH | 03-Feb-22 | Interim Dividend – Rs. – 1.5000 |
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