NIFTY:
NIFTY opened at 17767.75 with a gap down of just 13 points. The index recorded its intraday high at 17781.15 with in the he first 5 minutes of trading and a few ticks above the opening price. Prices then started moving on the downside. Minor dips in between were quickly sold into and the index kept on sliding lower and recorded its intraday low at 17511.15. The index finally closed at 17560.20 near its intraday low with a loss of 219.80 points or 1.24% down. All the sectoral indices have closed with a loss today except the AUTO which ended with a gain of 0.44%. IT and REALTY led the bears today and ended with a loss of 2.05% & 1.74% respectively.
Rresistance is now clearly visible around 17800 while short -term support is visible at 17500. Below this, the next support may emerge around 17300. Fresh trading opportunities for carry forward traders will emerge after a dip when it finds support. Tomorrow, if the index keeps moving lower then we should look to buy somewhere around 17350. Look to buy on a dip at or below 17350 with a stop at 17250 and a target at 17600.
BANK NIFTY:
BANK NIFTY opened at 39255.70 with a gap down of 83 points. Prices first moved up and fill the gap. However, soon the index went into a process of consolidation and recorded its intraday high at 39424.85. The index then moved down and recorded its intraday low at 38861.15. Prices have finally closed at 38880.60 with a loss of 458 points. PVT and PSU BANKS both performed almost same today, saw an intraday decline and closed with a loss of 0.95% & 0.50% respectively. Within the index in terms of points, BANDHAN BANK contributed the highest while HDFC BANK contributed the lowest.
We have been expecting a consolidation due to the volatile movement in the recent days. That has yet to happen but it will come sooner. Tomorrow, we should look to buy on a dip at or below 38200.
TECHNICAL PICKS
| COMPANY NAME | CMP | B/S | RATIONALE+ |
| TATAPOWER | 252 | 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 253 with a stop loss of 248 and for the target of 260. |
| MCX | 1779 | 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 1465 with a stop loss of 1480 and target of 1430. |
DERIVATIVE PICKS
| Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| GODREJPROP | 1650 PE | BUY | 70 | CMP | 50 | 110 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| CHOLAFIN.Feb 24 | 644 | 1.04 | -0.41 | 6977500 | GODREJPROP.Feb 24 | 1665 | -6.82 | 26.27 | 4821700 | |
| HINDCOPPER.Feb 24 | 129.1 | 0.74 | -0.8 | 14925300 | M&MFIN.Feb 24 | 159.7 | -5.73 | 19.98 | 41432000 | |
| GNFC.Feb 24 | 467 | 0.66 | -3.02 | 2667600 | MCX.Feb 24 | 1460.75 | -5.62 | 44.61 | 2522100 | |
| GRANULES.Feb 24 | 323.65 | 0.57 | -0.61 | 12592200 | LTTS.Feb 24 | 4584.95 | -4.38 | 6.66 | 771400 | |
| VOLTAS.Feb 24 | 1217.2 | 0.57 | -4.68 | 3596500 | MPHASIS.Feb 24 | 3005 | -4.35 | 5.75 | 1516900 | |
| Short Covering | Long Unwinding | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| RAIN.Feb 24 | 228 | 0.11 | -0.5 | 6492500 | METROPOLIS.Feb 24 | 2546 | -3.64 | -0.26 | 623400 | |
| COLPAL.Feb 24 | 1472 | 0.52 | -2.05 | 2578450 | NAVINFLUOR.Feb 24 | 4117.95 | -2.43 | -0.59 | 494325 | |
| GRANULES.Feb 24 | 323.65 | 0.57 | -0.61 | 12592200 | IDFCFIRSTB.Feb 24 | 48.4 | -2.32 | -0.58 | 1.51E+08 | |
| VOLTAS.Feb 24 | 1217.2 | 0.57 | -4.68 | 3596500 | IDEA.Feb 24 | 11.25 | -2.17 | -0.94 | 6.64E+08 | |
| GNFC.Feb 24 | 467 | 0.66 | -3.02 | 2667600 | RAMCOCEM.Feb 24 | 873 | -1.78 | -1.46 | 2124150 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Crompton Greaves Consume | 411.65 | -0.22 | 1657387 | 0 | 72.52 | Nifty 50 | 17560.2 | -1.24 | 82785 | |
| Max Financial Services l | 907.05 | -1.96 | 497782 | 0 | 72.12 | Nifty Bank | 39010 | -0.81 | 82785 | |
| Icici Lombard General In | 1384.4 | 0.03 | 316535 | 0 | 71.33 | Nifty it | 35056.8 | -2.05 | 82785 | |
| Piramal Enterprises | 2500.35 | -0.68 | 900757 | 0 | 68.12 | Nifty Realty | 486.9 | -1.74 | 82785 | |
| Hdfc Bank Ltd. | 1515.35 | -1.04 | 5282381 | 0 | 67.23 | Nifty Media | 2273.55 | -0.59 | 82788 | |
| Coromandel International | 820.55 | 3.34 | 803416 | 0 | 66.65 | Nifty Metal | 5761.6 | -0.31 | 82788 | |
| Petronet Lng Limited | 213.05 | -0.26 | 880973 | 0 | 65.89 | Nifty Fmcg | 37467.2 | -0.3 | 82785 | |
| Infosys Limited | 1738.55 | -2.72 | 3832922 | 0 | 65.51 | Nifty Auto | 11683.4 | 0.44 | 82782 | |
| Hindustan Unilever Ltd | 2298.15 | -1.28 | 1448039 | 0 | 65.41 | Nifty Pharma | 13617.6 | -0.19 | 82785 | |
| Alkem | 3537.95 | -0.35 | 28211 | 0 | 64.85 | India Vix | 19.16 | 2.73 | 82785 | |
| Hcl Technologies Ltd. | 1156.75 | -1.21 | 4169794 | 0 | 64.05 | Nifty Financial Services | 18153.3 | -1.39 | 82788 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: RBI Interest Rate Decision on 9th February, 2022 | •USD: Nonfarm Payrolls (Jan) on 4th February 2022
•USD: Unemployment Rate (Jan) on 4th February 2022 |
NEWS UPDATES
-
Titan saw its December quarter (Q3) net profit zoom 91 per cent to Rs 1,004 crore compared to the year-ago period, even as revenue from operations rose 37 per cent to Rs 9,903 crore riding on strong consumer demand in the same period. With the jewellery division doing well, and other divisions also witnessing growth over pre-pandemic levels, the total income for the quarter was Rs 9,570 crore, including bullion sale of Rs 54 crore, a growth of 31 per cent compared to total income of Rs 7,324 crore in Q3 of FY21 that included bullion sale of Rs 340 crore.
-
DLF Ltd has revised upwards its sales revenue potential by 17 per cent to Rs 47,000 crore from 35 million square feet of planned new launches of housing and commercial projects in the medium term. In an analyst presentation, DLF mentioned that it has planned the launch of 35 million square feet project in the medium term.
-
Kalyan Jewellers India on Thursday reported a 16.48 per cent rise in its consolidated profit after tax (PAT) at Rs 134.52 crore for the quarter ended December 2021. The jewellery retailer’s PAT stood at Rs 115.48 crore during the corresponding quarter of 2020-21, Kalyan Jewellers said in an exchange filing. Revenue from operations grew by 16.99 per cent to Rs 3,435.39 crore, compared to Rs 2,936.25 crore in the same period of the previous fiscal.
-
Granules India on Thursday said it has received approval from the US health regulator to market Bupropion Hydrochloride extended-release tablets, an antidepressant medication, in the American market.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint.
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| ABFRL | Quarterly Results | 04-Feb-22 | INDIGO | Quarterly Results | 04-Feb-22 |
| ALKEM | Interim Dividend;Quarterly Results | 04-Feb-22 | IOLCP | Interim Dividend;Quarterly Results | 04-Feb-22 |
| ANUHPHR | Quarterly Results | 04-Feb-22 | JAMNAAUTO | Quarterly Results | 04-Feb-22 |
| ASIANTILES | General | 04-Feb-22 | JUBLPHARMA | Quarterly Results | 04-Feb-22 |
| ASTRAL | Quarterly Results | 04-Feb-22 | KIOCL | Quarterly Results | 04-Feb-22 |
| AUTOAXLES | Quarterly Results | 04-Feb-22 | LAXMIMACH | Quarterly Results | 04-Feb-22 |
| AWHCL | Quarterly Results | 04-Feb-22 | MAGADHSUGAR | Quarterly Results | 04-Feb-22 |
| BANKINDIA | Quarterly Results | 04-Feb-22 | MANGALAM | General;Quarterly Results | 04-Feb-22 |
| BAYERCROP | Quarterly Results | 04-Feb-22 | MINDACORP | Interim Dividend;Quarterly Results | 04-Feb-22 |
| BIRLACORPN | Quarterly Results | 04-Feb-22 | MONTECARLO | Quarterly Results | 04-Feb-22 |
| CREDITACC | Quarterly Results | 04-Feb-22 | NOCIL | Quarterly Results | 04-Feb-22 |
| DALMIASUG | Interim Dividend;Quarterly Results | 04-Feb-22 | PAYTM | Quarterly Results | 04-Feb-22 |
| DEEPAKSP | Quarterly Results | 04-Feb-22 | RECLTD | Quarterly Results | 04-Feb-22 |
| DEVYANI | Quarterly Results | 04-Feb-22 | SHREECEM | Interim Dividend;Quarterly Results | 04-Feb-22 |
| DIAMONDYD | Quarterly Results | 04-Feb-22 | SIEMENS | Quarterly Results | 04-Feb-22 |
| DIGISPICE | Quarterly Results | 04-Feb-22 | SINTEX | Quarterly Results | 04-Feb-22 |
| DIVISLAB | Quarterly Results | 04-Feb-22 | TATASTEEL | General;Quarterly Results | 04-Feb-22 |
| EVEREADY | Quarterly Results | 04-Feb-22 | THERMAX | Quarterly Results | 04-Feb-22 |
| FSL | Quarterly Results | 04-Feb-22 | UGARSUGAR | Amalgamation;General;Results | 04-Feb-22 |
| GATI | Quarterly Results | 04-Feb-22 | VADILALIND | Quarterly Results | 04-Feb-22 |
| GNFC | Quarterly Results | 04-Feb-22 | VADILENT | Quarterly Results | 04-Feb-22 |
| GODREJAGRO | Quarterly Results | 04-Feb-22 | VIJAYA | Quarterly Results | 04-Feb-22 |
| GULPOLY | General;Quarterly Results | 04-Feb-22 | VISAKAIND | Audited Results;Quarterly Results | 04-Feb-22 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| CHAMBLFERT | 04-Feb-22 | Interim Dividend – Rs. – 4.5000 | GRAVITA | 08-Feb-22 | Interim Dividend – Rs. – 3.0000 |
| EMBASSY | 04-Feb-22 | Income Distribution RITES | HIL | 08-Feb-22 | Interim Dividend – Rs. – 20.0000 |
| MARICO | 04-Feb-22 | Interim Dividend – Rs. – 6.2500 | KIRLPNU | 08-Feb-22 | Interim Dividend – Rs. – 1.6000 |
| SIYSIL | 04-Feb-22 | Interim Dividend – Rs. – 3.0000 | MKEXIM | 08-Feb-22 | Bonus issue 2:1 |
| COFORGE | 07-Feb-22 | Interim Dividend – Rs. – 13.0000 | NIITLTD | 08-Feb-22 | Interim Dividend – Rs. – 3.0000 |
| CONTROLPR | 07-Feb-22 | Interim Dividend – Rs. – 4.0000 | PGHH | 08-Feb-22 | Interim Dividend – Rs. – 95.0000 |
| EXIDEIND | 07-Feb-22 | Interim Dividend – Rs. – 2.0000 | SCHAEFFLER | 08-Feb-22 | Stock Split From Rs.10/- to Rs.2/- |
| INFIBEAM | 07-Feb-22 | Interim Dividend – Rs. – 0.0500 | AARTIDRUGS | 09-Feb-22 | Interim Dividend – Rs. – 1.0000 |
| KEI | 07-Feb-22 | Interim Dividend – Rs. – 2.5000 | BEL | 09-Feb-22 | Interim Dividend – Rs. – 1.5000 |
| KKCL | 07-Feb-22 | Interim Dividend – Rs. – 4.0000 | GILLETTE | 09-Feb-22 | Interim Dividend – Rs. – 33.0000 |
| NIRMITEE | 07-Feb-22 | E.G.M. | GPTINFRA | 09-Feb-22 | Interim Dividend – Rs. – 1.5000 |
| ROUTE | 07-Feb-22 | Interim Dividend – Rs. – 3.0000 | IOC | 09-Feb-22 | Interim Dividend – Rs. – 4.0000 |
| BLUEDART | 08-Feb-22 | Interim Dividend – Rs. – 25.0000 | ORIENTCEM | 09-Feb-22 | Interim Dividend – Rs. – 0.7500 |
Disclosure in pursuance of Section 19 of SEBI (RA) Regulation 2014
Elite Wealth Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only information in making their investment decision and must exercise their own judgment before making any investment decision.
For analyst certification and other important disclosures, see the Disclosure Appendix, or go to www.elitewealth.in. Analysts employed by Elite Wealth Limited are registered/qualified as research analysts with SEBI in India.( SEBI Registration No.: INH100002300)
Disclosure Appendix
Analyst Certification (For Reports)
Israil Khan, Elite Wealth Limited, suhail@elitewealth.in
The analyst(s) certify that all of the views expressed in this report accurately reflect my/our personal views about the subject company or companies and its or their securities. I/We also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report. Unless otherwise stated, the individuals listed on the cover page of this report are analysts in Elite Wealth Limited.
As to each individual report referenced herein, the primary research analyst(s) named within the report individually certify, with respect to each security or issuer that the analyst covered in the report, that:
(1) all of the views expressed in the report accurately reflect his or her personal views about any and all of the subject securities or issuers; and
(2) no part of any of the research analyst’s compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed in the report.
For individual analyst certifications, please refer to the disclosure section at the end of the attached individual notes.
Research Excerpts
This note may include excerpts from previously published research. For access to the full reports, including analyst certification and important disclosures, investment thesis, valuation methodology, and risks to rating and price targets, please visit www.elitewealth.in.
Company-Specific Disclosures
Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting https://www.elitewealth.in, or emailing research@elitestock.com with your request. Elite Wealth Limited may screen companies based on Strategy, Technical, and Quantitative Research. For important disclosures for these companies, please e-mail research@elitestock.com.
Options related research:
If the information contained herein regards options related research, such information is available only to persons who have received the proper option risk disclosure documents. For a copy of the risk disclosure documents, please contact your Broker’s Representative or visit the OCC’s website at https://www.elitewealth.in
Other Disclosures
All research reports made available to clients are simultaneously available on our client websites. Not all research content is redistributed, e-mailed or made available to third-party aggregators. For all research reports available on a particular stock, please contact your respective broker’s sales person.
Ownership and material conflicts of interest Disclosure
Elite Wealth Limited policy prohibits its analysts, professionals reporting to analysts from owning securities of any company in the analyst’s area of coverage. Analyst compensation: Analysts are salary based permanent employees of Elite Wealth Limited. Analyst as officer or director: Elite Wealth Limited policy prohibits its analysts, persons reporting to analysts from serving as an officer, director, board member or employee of any company in the analyst’s area of coverage.
Country Specific Disclosures
India – For private circulation only, not for sale.
Legal Entities Disclosures
Mr. Ravinder Parkash Seth is the Managing Director of Elite Wealth Ltd (EWL, henceforth), having its registered office at Casa Picasso, Golf Course Extension, Near Rajesh Pilot Chowk, Radha Swami, Sector-61, Gurgaon-122001 Haryana, is a SEBI registered Research Analyst and is regulated by Securities and Exchange Board of India. Telephone:011-43035555, Facsimile: 011-22795783 and Website: www.elitewealth.in
EWL discloses all material information about itself including its business activity, disciplinary history, the terms and conditions on which it offers research report, details of associates and such other information as is necessary to take an investment decision, including the following:
1. Reports
a) EWL or his associate or his relative has no financial interest in the subject company and the nature of such financial interest;
(b) EWL or its associates or relatives, have no actual/beneficial ownership of one per cent. or more in the securities of the subject company, at the end of the month immediately preceding the date of publication of the research report or date of the public appearance;
(c) EWL or its associate or his relative, has no other material conflict of interest at the time of publication of the research report or at the time of public appearance;
2. Compensation
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) EWL or its associates have not managed or co-managed public offering of securities for the subject company in the past twelve months;
(c) EWL or its associates have not received any compensation for investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(d) EWL or its associates have not received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(e) EWL or its associates have not received any compensation or other benefits from the Subject Company or third party in connection with the research report.
3 In respect of Public Appearances
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) The subject company is not now or never a client during twelve months preceding the date of distribution of the research report and the types of services provided by EWL