OutlookNIFTY:

The Nifty opened at 15073.25 with a gap down of 33 points. The index first recorded its intraday low at 15065.40 and then rallied. Prices have moved up almost 100 points within the first hour of trading and then traded sideways and narrow.

Another rally came in the last hour of trading. The rally helped the index to close at 15173.30 near its intraday highs with a gain of 66.8 points. The Metal sector has performed well and closed with a gain of 1% while Auto sector was the biggest underperformed. It was a trend day on the upside where intraday low was recorded near the opening tick and intraday high was recorded near the closing tick. The Nifty closed on a positive note near 15200. Yesterday we have mentioned support around 14950-15050 and a likely resistance around 15250-15300. The index traded within these boundaries and closed near the upper end of this range. It was the fourth day where prices have moved within these boundaries. Unless we see either side breakout, the final direction will not be clear and the index may trade sideways in the same range. This range has appeared after a sharp rally so we should look at this range as a pause in an ongoing uptrend.

Suppose if price breaks on the downside, then we should consider a correction but it is unlikely breakdown will be held long. So look for a buying opportunity above 15250 or on a dip till 14950.

BANK NIFTY:

Bank Nifty opened at 35687.25 with a gap down of 214 points. The index first moved up, filled the gap completely and recorded its intraday high at 36009.45. Prices then started drifting downwards and finally closed at 35752. PSU Banks have underperformed and closed lower while Private Bank have closed with marginal gains. Within the index Axis 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 so our trade is intact. Range of 35500-36500 also remains intact.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
ADANIPORTS 591.85 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 585 and for the target 605
CADILAHC 470.85 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 462 and for the target 485.

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
HINDUNILVR 2260 CE BUY 53 CMP 35 80 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
HINDALCO.21.02 Feb 296.25 5.65 40 32705800 FINNIFTYW.21.02 Feb 16862.7 -0.33 1707.69 9400
M&MFIN.21.02 Feb 196.9 2.9 20.87 13388000 MRF.21.02 Feb 90178 -7.46 24.33 76640
MGL.21.02 Feb 1161 3.27 15.67 1701000 BANKBARODA.21.02 Feb 77.1 -2.71 24.22 91318500
IDEA.21.02 Feb 12.9 7.5 9.78 934360000 BATAINDIA.21.02 Feb 1534.4 -2.57 20.11 1888700
COFORGE.21.02 Feb 2632.55 1.27 7.53 439125 CUMMINSIND.21.02 Feb 772 -2.78 17.42 1342800
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
SAIL.21.02 Feb 67.6 0.82 -3.17 111435000 PAGEIND.21.02 Feb 30797 -3.43 -7.39 99240
IBULHSGFIN.21.02 Feb 232.8 0.06 -2.66 33027400 CANBK.21.02 Feb 157.75 -2.23 -1.04 56473200
TORNTPOWER.21.02 Feb 328.4 0.75 -1.81 5364000 RECLTD.21.02 Feb 146.5 -0.75 -0.91 13074000
VOLTAS.21.02 Feb 1096 0.14 -1.53 3914000 SUNTV.21.02 Feb 520 -0.45 -0.55 10086000
TATASTEEL.21.02 Feb 695.6 0.33 -1.43 40633400 SBILIFE.21.02 Feb 910.15 -0.26 -0.43 5432250

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Hdfc Ltd. 2760.6 -0.23 1935639 3654412 65.22 Nifty Energy 17945.9 1.35 81756
Icici Prudential Life In 491.25 3.17 6173851 2872413 62.5 Nifty Metal 3546.7 1.02 81753
Hindustan Petroleum Corp 227.4 1.11 6534317 6229544 59.17 Nifty Fmcg 34463.75 0.81 81753
Kotak Mahindra Bank Limi 1961 0.46 2246777 1498323 52.37 Nifty it 26043.45 0.61 81756
Power Grid Corporation o 213.75 1.57 11533755 9898504 51.47 Nifty 50 15173.3 0.44 81756
Colgate Palmolive (india 1607.05 1.54 370529 204745 51.11 Nifty Pharma 12929.8 0.19 81753
Icici Lombard General In 1497.8 -0.21 688878 632433 50.8 Nifty Bank 35752.1 -0.09 81756
Hdfc Asset Management Co 2979.4 -0.66 193061 112892 50.77 Nifty Media 1703.3 -0.24 81753
Marico Limited 416.6 1.4 1851525 916868 50.21 Nifty Realty 350.55 -0.26 81756
Hindustan Unilever Ltd 2263 1.23 1824480 1020498 49.65 Nifty Auto 10965.25 -0.41 81753

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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 : US Federal Budget on 12th February, 2021

•USD : NY Empire State Manufacturing Index (Feb) on 16th February, 2021

NEWS UPDATES

•Amazon on Thursday approached the Supreme Court against Future Group’s $3.4 billion retail assets sale to Reliance Industries. The E-commerce giant termed a Delhi High Court judgment revoking a previous single judge decision blocking the deal “illegal” and “arbitrary”, reported Reuters.

•Coal India Ltd (CIL) on Thursday reported a 21.3 per cent decline in consolidated net profit at Rs 3,084 crore for quarter ended December 31, 2020 (Q3FY21). It was Rs 3,921.81 crore in the same period a year ago. Sequentially, the profit rose marginally by 4.5 per cent. It was Rs 2,951 crore in the preceding September quarter. Revenue from operations during the quarter increased to Rs 23,686 crore from Rs 23,190 crore in the year-ago period, up 2. per cent year-on-year. The company’s total expenses stood at Rs 19,592 crore in the latest December quarter.

•The transportation infrastructure business of L&T Construction has secured an order in the range of Rs 1,000-2,500 crore to extend the mainline corridor of the Mauritius Metro by 3.4 km from Metro Express Limited (MEL), Mauritius.

•Power Finance Corporation (PFC) on Thursday posted a 17 per cent jump in its consolidated net profit at Rs 3,963.18 crore for the quarter ended in December. The consolidated net profit of the firm was at Rs 3,386.72 crore in the year-ago period, a BSE filing said.

•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
FINCABLES Quarterly Results 12-Feb-21 GMRINFRA Quarterly Results 12-Feb-21
GODREJIND Quarterly Results;General 12-Feb-21 NAUKRI Quarterly Results 12-Feb-21
GRASIM Quarterly Results 12-Feb-21 SOBHA Quarterly Results 12-Feb-21
BHARATFORG Quarterly Results 12-Feb-21 DHANI Quarterly Results 12-Feb-21
SIEMENS Quarterly Results 12-Feb-21 SJVN Interim Dividend;Quarterly Results 12-Feb-21
VOLTAS Quarterly Results 12-Feb-21 IBULHSGFIN General;Quarterly Results 12-Feb-21
BBTC Quarterly Results 12-Feb-21 LUXIND Quarterly Results 12-Feb-21
PHOENIXLTD Quarterly Results 12-Feb-21 DBL Quarterly Results 12-Feb-21
NESCO Quarterly Results 12-Feb-21 COCHINSHIP Interim Dividend;Quarterly Results 12-Feb-21
DEEPAKNI Quarterly Results 12-Feb-21 NIACL Quarterly Results;General 12-Feb-21
APOLLOHOSP Quarterly Results 12-Feb-21 BDL Quarterly Results 12-Feb-21
MOTHERSUMI Quarterly Results 12-Feb-21 HAL Quarterly Results 12-Feb-21
TIMKEN Quarterly Results 12-Feb-21 FINEORG Quarterly Results 12-Feb-21
ITI Quarterly Results 12-Feb-21 EMBASSY Quarterly Results;General 12-Feb-21
NATIONALUM Quarterly Results;General 12-Feb-21 MAZDOCK Interim Dividend;Quarterly Results 12-Feb-21
GLENMARK Quarterly Results;General 12-Feb-21 HOMEFIRST Quarterly Results 12-Feb-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ALKYLAMINE 12-Feb-21 Interim Dividend – Rs. – 10.00 HEROMOTOCO 15-Feb-21 Interim Dividend – Rs. – 65.00
BASML 12-Feb-21 Stock  Split From Rs.10/- to Rs.5/- HEROMOTOCO 15-Feb-21 Special Dividend – Rs. – 5.00
CANTABIL 12-Feb-21 Interim Dividend – Rs. – 1.00 HIKAL 15-Feb-21 Interim Dividend – Rs. – 1.00
SAURASHCEM 12-Feb-21 Interim Dividend – Rs. – 1.00 MINDACORP 15-Feb-21 Interim Dividend – Rs. – 0.30
BALKRISIND 15-Feb-21 Interim Dividend – Rs. – 5.00 MINDAIND 15-Feb-21 Interim Dividend – Rs. – 0.3500
GALAXYSURF 15-Feb-21 Interim Dividend – Rs. – 14.00 PRAVEG 15-Feb-21 Interim Dividend – Rs. – 2.00

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