2021-01-12-OutlookNIFTY:

The Nifty opened at 14474.05 with a big gap up of 127 points. The index first moved down and recorded its intraday low at 14383.10. Prices then started moving higher. A modest rally of more than 100 points took the Nifty near the 14500 mark and the index finally closed at 14484.75 up by 137.50 points. The Auto and IT sectors continued to lead the bulls and closed higher while the Metals and Banks continued its underperformance and closed lower.

The week started with a big gap up and then an intraday rally helped Nifty to close near the 14500 mark. The index initially moved down but then quickly recovered to close near its intraday highs. A breakout from 14250 resistances has almost met with its pattern target around 14500,vanished our ground to take a trade on this breakout.

One way to take long trade is to wait for a dip. The problem here is when will this happened and how much Nifty should fall for taking a long trade. As of now we should wait for a dip to buy.

BANK NIFTY:

Bank Nifty opened at 32280.30 with a gap up of 192 points. Prices have immediately started falling and recorded its intraday low at 31836.95. The index then spent the rest of the day trading choppy and narrow and finally closed at 31998. PSU and Private Banks both have closed lower by 1.50% and 0.32% respectively. Within the index, in terms of points, HDFC Bank contributed highest while Kotak Bank the lowest.

Bank Nifty continued its underperformance from last few trading days as compared to Nifty. The trading range has 31800 as support and 32300 as resistance. We should look to wait to buy on a dip to 31800 or breakout of 32300.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
AUROPHARMA 965.20 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 954 and for the target 985.
ICICIBANK 544.7 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 535 and for the target 560.

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
BIOCON 420 CE BUY 21.30 CMP 17.5 26 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
TATAMOTORS.21.01 Jan 223.65 12.64 20.18 76864500 RBLBANK.21.01 Jan 256.3 -3.03 8.32 18533900
GAIL.21.01 Jan 135.7 1.92 18.52 36545100 INDUSINDBK.21.01 Jan 929 -1.12 7.87 17236800
WIPRO.21.01 Jan 444.75 3.68 17.24 38585600 BATAINDIA.21.01 Jan 1628.5 -1.45 7.82 1190200
MRF.21.01 Jan 82750 2.42 16.93 55740 NATIONALUM.21.01 Jan 47.1 -1.77 6.46 64430000
COLPAL.21.01 Jan 1647.9 1.99 15.44 2642500 ICICIPRULI.21.01 Jan 525.45 -0.23 6.44 4414500
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
GODREJPROP.21.01 Jan 1478.9 0.78 -9.21 1313650 CHOLAFIN.21.01 Jan 427.45 -1.35 -5.24 4252500
NAUKRI.21.01 Jan 5474 0.76 -2.99 835500 BANKNIFTY.21.01 Jan 32101 -0.22 -4.89 1599025
PETRONET.21.01 Jan 269 0.04 -2.78 15225000 IBULHSGFIN.21.01 Jan 234.3 -3.02 -3.68 30231200
TVSMOTOR.21.01 Jan 523.55 1.52 -1.89 4793600 SAIL.21.01 Jan 75.15 -2.21 -3.65 85785000
CADILAHC.21.01 Jan 494.45 1.54 -1.56 9026600 APOLLOHOSP.21.01 Jan 2556.8 -0.26 -2.81 1676000

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Aarti Industries Ltd. 1298.45 1.41 204074 211674 64.84 Nifty it 27027.75 3.31 80169
Hindustan Unilever Ltd 2429.1 1.58 2787672 1679133 60.01 Nifty Auto 9995.6 2.61 80169
Colgate Palmolive (india 1639.95 1.56 1796997 442739 59.93 Nifty Fmcg 34681.25 1.18 80169
Container Corp Of India 439.55 -0.68 2661411 3080095 59.85 Nifty Pharma 13412.35 1.06 80169
Icici Lombard General In 1609.7 0.28 543087 412647 57.35 Nifty 50 14484.75 0.96 80169
Power Grid Corporation o 203.55 0 7158427 9474365 57.12 Nifty Realty 329.55 0.63 80169
Itc Ltd. 202.5 0.5 42970983 31087312 55.09 Nifty Bank 31998.9 -0.27 80169
Lalpathlab 2375.65 -1.3 148357 175280 54.66 Nifty Energy 17108.55 -0.85 80169
Dabur India Ltd. 546.5 1.18 2812154 1996781 54.47 Nifty Metal 3493.9 -1 80169
Hdfc Ltd. 2751.2 3.53 5939812 2430085 54.04 Nifty Media 1729.6 -1.54 80169

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UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR:  CPI (YoY) (Dec) on 12th January, 2021

INR:  Industrial Production (YoY) (Nov) on 12th January, 2021

•USD : EIA Short-Term Energy Outlook on 12th January, 2021

•USD : API Weekly Crude Oil Stock on 13th January, 2021

NEWS UPDATES

•State-run engineering firm BHEL  on Monday said it has bagged an order worth Rs 450 crore for a steam and power plant from National Aluminium Corporation Limited. The Rs 450 crore order has been placed on BHEL by NALCO for its 5th Stream Alumina Refinery Expansion Project at Damanjodi, Odisha, Bharat Heavy Electricals Limited ( BHEL) said in a statement.

•GNA Axles consolidated net profit surged 249% to Rs 26.64 on 28.9% rise in revenue from operations to Rs 276 crore in Q3 December 2020 over Q3 December 2019.

•Driven by better-than-expected demand after the end of the festival season amid rising preference for personal mobility, retail sales of passenger vehicles rose 23.9% year-on-year to 2,71,249 units in December, as per data released by Federation of Automobile Dealers Associations (FADA) on Monday.

•Axis Bank on Monday announced the removal of penalty on premature closure of all new retail term deposits booked on or after December 15, 2020 for a tenure of 2 years or more. “The objective of this customer-friendly feature is to inculcate and encourage retail customers to go for long-term savings without worrying about the sudden need for liquidity,” the bank said in a press statement.

•TCS on Monday became the second Indian company to hit ₹12 trillion in market capitalisation after posted its strongest December quarter growth in nine years.

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
ATVPR Quarterly Results 12-Jan-21 NAVBLDR General 12-Jan-21
COASTCORP ESOP;Preferential Issue; Results 12-Jan-21 RUSHIL Right Issue of Equity Shares;General 12-Jan-21
CSL Quarterly Results 12-Jan-21 SEACOAST Right Issue; Increase in Auth. Capital 12-Jan-21
FILATEX Quarterly Results 12-Jan-21 SJVN General 12-Jan-21
HATHWAYB Quarterly Results 12-Jan-21 SSWL Quarterly Results 12-Jan-21
HPL Quarterly Results 12-Jan-21 SUPRAP General 12-Jan-21
INDBANK General;Quarterly Results 12-Jan-21 TATAELXSI Audited Results;Quarterly Results 12-Jan-21
INDBNK Quarterly Results 12-Jan-21 TRADWIN Quarterly Results 12-Jan-21
INDITALIA General 12-Jan-21 VIKASMCORP General;Quarterly Results 12-Jan-21
KTKBANK Quarterly Results 12-Jan-21 WINSOMBR General 12-Jan-21
MESCON Quarterly Results 12-Jan-21 5PAISA General;Quarterly Results 13-Jan-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ORTINLAABS 12-Jan-21 Spin Off SVPGLOB 14-Jan-21 Stock  Split From Rs.10/- to Rs.1/-
ORTINLAABS 12-Jan-21 Reduction of Capital TCS 14-Jan-21 Interim Dividend – Rs. – 6.0000
COCHINSHIP 13-Jan-21 Interim Dividend – Rs. – 9.0000 ARCHIDPLY 18-Jan-21 Buy Back of Shares
INDTONER 14-Jan-21 Buy Back of Shares IRBINVIT 20-Jan-21 Income Distribution (InvIT)
INFRATRUST 14-Jan-21 Income Distribution (InvIT) HCLTECH 21-Jan-21 Interim Dividend


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