outlookNIFTY:

The Nifty opened at 15119.05 with a gap up of just 10 points. The index traded very volatile. In this process, prices have recorded its intraday high at 15168.25 and intraday low at 14977.20. Prices have seen sharp intraday swings on both sides and finally closed at 15106.50. The Auto and Pharma have led the bulls while Bank and Financials have led the beards.

We were long in the index from 15150 with a stop just below 15050 and target of around 15350. The index broke the stop loss level so our long trade was closed with a loss of 100 points. The index continued trading volatile and range bound for the third day. The Nifty may be entering into a process of consolidation. This is normal after a sharp rally of more than 1200 points. This pause is an on going trend will give us a tradable opportunity soon.

The Nifty ended almost unchanged in a volatile trading session and prices have gone below 15000 levels during the day. Thanks to the rally in the last half an hour of trading, the index managed to close above 15000. A support zone is visible around 14950-15050 while short term resistance is visible around 15250-15300 zone.

BANK NIFTY:

Bank Nifty opened at 36042.34 with a gap up of 46 points. The index first recorded its intraday high at 36227.20 and then started drifting downwards. Sharp rallied did not last long and prices have continued moving down. Thanks to a sharp rally in the last hour of trading, the index managed to close at 35783. PSU Banks have outperformed and closed higher while Private Banks have closed lower. Within the index, in terms of points Kotak Bank contributed highest while HDFC Bank the lowest.

We were long in the index from 35700 with a stop at 35400 and target of 36700. Prices did not touch either of these levels.

Short term support is at 35500 and resistance at 36500.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
CIPLA 863.45 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 850 and for the target 885.
HDFC 2767.10 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 2730 and for the target 3020

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
CHOLAFIN 470 CE BUY 22.95 CMP 19 28 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
IBULHSGFIN.21.02 Feb 232.65 5.89 16.18 33929500 SAIL.21.02 Feb 67.05 -0.22 27.87 115083000
BERGEPAINT.21.02 Feb 764.3 0.11 12.43 3472700 ADANIPORTS.21.02 Feb 579.6 -0.97 10.94 49442500
VOLTAS.21.02 Feb 1094.45 1 10.08 3975000 EICHERMOT.21.02 Feb 2903.65 -1.71 8.33 2461900
MRF.21.02 Feb 97447.95 3.4 9.99 61640 BALKRISIND.21.02 Feb 1651.7 -0.18 7.16 2639200
PAGEIND.21.02 Feb 31891.6 4.99 9.2 107160 BOSCHLTD.21.02 Feb 16370.05 -0.05 6.8 94200
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
MUTHOOTFIN.21.02 Feb 1269.05 6.39 -16.22 4504500 ICICIGI.21.02 Feb 1502.9 -1.39 -13.83 1122850
MFSL.21.02 Feb 778 5.06 -13.34 4366700 INDUS TOWERS LIMITED.21. 248 -2.65 -7.89 12297600
ASIANPAINT.21.02 Feb 2514.3 0.13 -11.66 6186000 SUNTV.21.02 Feb 522.35 -0.12 -4.67 10141500
HDFCLIFE.21.02 Feb 720 1.8 -10.14 7660400 BHARTIARTL.21.02 Feb 591.05 -1.63 -4.6 99319107
JINDALSTEL.21.02 Feb 311.7 0.4 -8.03 20055000 HDFCBANK.21.02 Feb 1588.1 -1.12 -4.3 24539900

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Icici Lombard General In 1501 -0.78 1245064 906798 69.06 Nifty Realty 351.45 1.63 2147483500
Hindustan Unilever Ltd 2235.5 0.87 2055520 2018283 64.45 Nifty Auto 11010.85 0.95 71698454
Hdfc Ltd. 2767.1 0.73 5602915 3508869 62.81 Nifty Pharma 12905.55 0.72 61130770
Petronet Lng Limited 240.9 -0.6 5449342 2056600 53.77 Nifty it 25885.3 0.41 1307655
Rec Limited 146.8 0.17 3996999 3271359 52.32 Nifty Energy 17706.4 0.12 2817124
Bharat Electronics Ltd 139.85 1.38 11220712 8260430 51.3 Nifty Media 1707.35 0.03 460280211
United Spirits Limited 572.85 0.8 2102358 1407098 50.48 Nifty 50 15106.5 -0.02 52137317
Hero Motocorp Limited 3538.95 1.13 1477082 776626 50.33 Nifty Metal 3510.85 -0.08 223011786
Hdfc Asset Management Co 2999.3 -0.37 222359 155321 49.71 Nifty Fmcg 34188 -0.13 851853
Hindustan Petroleum Corp 224.9 -0.73 10528622 3404699 49.71 Nifty Bank 35783.1 -0.76 21930037

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UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR:  CPI (YoY) (Jan) on 12th  February, 2021

INR:  Industrial Production (YoY) (Dec) on 12th February, 2021

•USD : Fed Monetray Policy Report on11th February, 2021

•USD : Initial jobless claims on 11th February, 2021

NEWS UPDATES

•JSW Group to scale up JSW One as tech-based biz platform, enter e-commerce May invest Rs 500-700 cr on e-commerce platform, extend JSW One platform to influencers in home-construction biz such as contractors, masons, engineers, architects, painters

•The Upper House of Parliament passed the Major Ports Authority Bill, 2020,that seeks to provide greater autonomy in decision-making to 12 major ports in the country. The bill aims to provide for regulation, operation and planning of major ports in India and to vest the administration, control and management of such ports upon the boards of major port authorities and for matters connected therewith or incidental thereto, be taken into consideration. In terms of volume, 70 per cent of cargo movement is through ports while 90 per cent in value terms.

•Power Mech Projects on Wednesday said it has bagged four different orders worth Rs 1,068.36 crore. The first two orders are worth Rs 449 crore each and are regarding water supply pipeline construction from the State Water & Sanitation Mission, Government of Uttar Pradesh.It has also got an order of Rs 100.36 crore for Operation and Maintenance Works from Prayagyraj Power Generation Company Ltd, in Bara, Uttar Pradesh. Another order worth Rs 70 crore is for the operation of Wagon Trippler and Truck Tripplers for Tata Steel Bhushan Steel Ltd in Angul, Odisha.

Source: Economic Times,  Moneycontrol  ,Business Today, Livemint, Business Standard, Bloomberg Quint

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BOARD MEETING

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
Coal India Quarterly Results 11-Feb-21 Prestige Estates Quarterly Results 11-Feb-21
Power Fin.Corpn. Quarterly Results 11-Feb-21 Bayer Crop Sci. Quarterly Results 11-Feb-21
ITC Quarterly Results 11-Feb-21 ISGEC Heavy Quarterly Results 11-Feb-21
General Insuranc Quarterly Results 11-Feb-21 Natco Pharma Quarterly Results 11-Feb-21
Power Grid Corpn Quarterly Results 11-Feb-21 Tube Investments Quarterly Results 11-Feb-21
Petronet LNG Quarterly Results 11-Feb-21 Zee Media Quarterly Results 11-Feb-21
MRF Quarterly Results 11-Feb-21 Borosil Quarterly Results 11-Feb-21
Ashok Leyland Quarterly Results 11-Feb-21 Mangalam Drugs Quarterly Results 11-Feb-21
ACC Quarterly Results 11-Feb-21 Atul Auto Quarterly Results 11-Feb-21
Piramal Enterp. Quarterly Results 11-Feb-21 JSW Holdings Quarterly Results 11-Feb-21
Rail Vikas Quarterly Results 11-Feb-21 Auro Labs. Quarterly Results 11-Feb-21
NHPC Ltd Quarterly Results 11-Feb-21 Polylink Poly. Quarterly Results 11-Feb-21
Bosch Quarterly Results 11-Feb-21 Coromandel Agro Quarterly Results 11-Feb-21
Allcargo Logist. Quarterly Results 11-Feb-21 Jindal Poly Inve Quarterly Results 11-Feb-21
Oil India Quarterly Results 11-Feb-21 NCC Quarterly Results 11-Feb-21
Uflex Quarterly Results 11-Feb-21 TVS Srichakra Quarterly Results 11-Feb-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
Alkem Laboratories Ltd 11-Feb-21 Interim Dividend – Rs. – 25.0000 BLS International Services Ltd 11-Feb-21 Interim Dividend – Rs. – 0.2500
APCOTEX INDUSTRIES LTD. 11-Feb-21 Interim Dividend – Rs. – 1.5000 CARBORUNDUM UNIVERSAL LTD. 11-Feb-21 Interim Dividend – Rs. – 1.5000
Bajaj Consumer Care Ltd 11-Feb-21 Interim Dividend – Rs. – 6.0000 BLS International Services Ltd 11-Feb-21 Interim Dividend – Rs. – 0.2500
BALRAMPUR CHINI MILLS LTD. 11-Feb-21 Interim Dividend – Rs. – 2.5000 GILLETTE INDIA LTD. 11-Feb-21 Interim Dividend – Rs. – 33.0000

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