2021-01-13-OutlookNIFTY:

The Nifty opened at 14473.80 with a minor gap down of just 11 points. The index first moved down and recorded its intraday low at 14432.85 within the first five minutes of trading. Prices then started moving higher. A modest rally of more than 100 points took Nifty above the 14500 mark and the index finally closed higher at 14563.45 up by 78.70 points. The Realty sector has taken a lead and closed higher by 2.76&. Banks and Auto also gained more than 1%. The Pharma, FMCG and IT sectors have seen a decline and closed lower.

Nifty continued moving higher after early morning weakness. Prices have initially traded narrow and sideways. Around 11:10 AM, prices started picking the pace and then rallied more than 100 points to close above 14550.

The index continued making lifetime new highs and closed higher for the fourth consecutive day. The trend is strong on the upside and we should just look to buy. The idea is to buy around 14500 with a tight stop of 50 points and for the target of 14620.

BANK NIFTY:

Bank Nifty opened at 31835.05 with a gap down of 178 points. Prices have recorded its intraday low at 31725.85 and then rallied. The index moved higher for the whole day and finally closed near its day high. PSU Banks have performed much better and closed higher by almost 6%. Private Banks have also closed higher with a gain of 0.48%. Within the index, in terms of points HDFC Bank contributed highest while Kotak Bank the lowest.

Bank Nifty outperformed and closed higher by more than 1% while Nifty closed higher by just 0.54%.

Yesterday we mentioned a trading range of 31800-32300 and suggested to take a long trade above 32300. Prices have broken this level so we are long at the same level. Stay long with a stop at 31900 and for target 33100.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
M&MFIN 189.70 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 186 and for the target 197
PEL 1564.50 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 1540 and for the target 1620.

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
BAJFINANCE 5100 CE BUY 201.5 CMP 175 250 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
INDUS TOWERS LIMITED.21. 262.65 0.23 21.58 9668400 BANDHANBNK.21.01 Jan 393 -3.96 40.3 17942400
BANKBARODA.21.01 Jan 71.45 11.29 18.53 70129800 ICICIGI.21.01 Jan 1570 -2.8 20.35 696150
GAIL.21.01 Jan 139.3 2.88 16.71 40296600 TVSMOTOR.21.01 Jan 520.75 -0.52 15.63 5521600
CANBK.21.01 Jan 138.35 6.83 16.57 52169400 NESTLEIND.21.01 Jan 18090 -1.75 15.37 337050
PNB.21.01 Jan 36.6 4.27 14.61 155680000 ASIANPAINT.21.01 Jan 2770 -2.81 13.37 5620500
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
LICHSGFIN.21.01 Jan 441.55 2.34 -3.76 6392000 JUBLFOOD.21.01 Jan 2892 -0.87 -0.95 1455750
SAIL.21.01 Jan 76.5 1.66 -1.43 83752000 BEL.21.01 Jan 134.55 -0.41 -0.58 26182000
BHARATFORG.21.01 Jan 623.45 1.65 -1.38 5664000 COFORGE.21.01 Jan 2785.35 -1.56 -0.23 646125
PFC.21.01 Jan 122.05 1.54 -1.21 27304800
HDFCAMC.21.01 Jan 3219.65 1.01 -1.11 232000

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Hdfc Ltd. 2747.55 -0.13 3412213 3730773 62.81 Nifty Realty 338.65 2.76 83121
Hindustan Unilever Ltd 2375.9 -2.19 2036708 1664561 59.71 Nifty Media 1753.4 1.38 83121
Indus Towers Limited 261.35 -0.34 6351455 1909812 55.3 Nifty Energy 17329.6 1.29 83121
Kotak Mahindra Bank Limi 1903.45 -1.79 6035580 1596797 53.31 Nifty Auto 10119.85 1.24 83121
Max Financial Services l 719.9 0.65 1014153 801970 52.05 Nifty Bank 32339 1.06 83121
Icici Lombard General In 1565.95 -2.72 451933 278641 51.31 Nifty 50 14563.45 0.54 83121
Reliance Industries Ltd 1957.05 3.15 18996047 7697815 50.08 Nifty Metal 3509.9 0.46 83121
Hdfc Asset Management Co 3212.6 0.95 274537 168938 49.9 Nifty it 26982.1 -0.17 83121
Divi S Laboratories Limi 3767.5 -1.44 758091 286622 49.31 Nifty Fmcg 34488.65 -0.56 83121
Larsen & Toubro Limited 1349.8 -0.01 2836161 1565984 48.15 Nifty Pharma 13244.7 -1.25 83121

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UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR:  WPI Inflation (YoY) (Dec) on 14th January, 2021

INR:  Trade Balance on 15th January, 2021

•USD : Core CPI (MoM) (Dec) on 13th January, 2021

•USD : Crude Oil Inventories on 13th January, 2021

NEWS UPDATES

•Tata Chemicals Ltd. is in advanced talks to acquire the industrial salt unit of Archean Group that could value the business at 4.5 billion rupees ($61 million) at a minimum, according to people familiar with the matter. The Archean unit, with a production capacity of 3 million metric tons, makes industrial salt used as an intermediary in the manufacturing of products from detergents, textile dyes to plastics and glass.

•After builders accused cement manufacturers of indulging in cartelisation to jack up prices, cement manufacturers have hit out at builders saying they were misleading the government and that the government should look into their margins. The development comes a day after Union Road Transport Minister Nitin Gadkari said that the cement industry was trying to raise prices through cartelisation and there was an urgent need for a regulator.

•Indian Oil Corporation (IOCL) is planning to roll out a Tatkal LPG Seva in a bid to ensure that consumers get cooking gas cylinder on the day it is booked. According to officials in the know, the service is like to be soon rolled out and the initial target for it was as early as February 1. IndianOil markets its LPG cylinders through the Indane brand.

•Reliance Infrastructure-promoted power distribution companies (discoms) in Delhi – BSES Rajdhani Power Ltd (BRPL) and BSES Yamuna Power Ltd (BYPL) on Monday paid their dues of Rs 400 crore to Aravali Power Corporation Private Ltd. (APCL). APCL is owned and operated by state owned power generator NTPC Limited.

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
5PAISA Quarterly Results;General 13-Jan-21 RAJOOENG Quarterly Results 13-Jan-21
AMTEKAUTO Audited Results;General 13-Jan-21 VARROC Preferential Issue of shares;General 13-Jan-21
ASIANTNE Quarterly Results 13-Jan-21 WIPRO Results; Interim Dividend ; Results 13-Jan-21
CESC Interim Dividend;Quarterly Results 13-Jan-21 DEN Quarterly Results 14-Jan-21
CTL Quarterly Results 13-Jan-21 DGCONTENT Quarterly Results 14-Jan-21
DRA General 13-Jan-21 FIBERWEB General 14-Jan-21
GTPL Quarterly Results 13-Jan-21 HFCL Quarterly Results 14-Jan-21
INFY Audited Results;Quarterly Results 13-Jan-21 KESORAMIND General 14-Jan-21
MIDESTI-B Quarterly Results 13-Jan-21 RIIL Quarterly Results;General 14-Jan-21
MURUDCERA Issue Of Warrants ; Preferential Issue 13-Jan-21 TATASTLLP Audited Results 14-Jan-21
NARBADA Issue Of Warrants 13-Jan-21 WEBELSOLAR Quarterly Results 14-Jan-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
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
SVPGLOB 14-Jan-21 Stock  Split From Rs.10/- to Rs.1/- TIRUSTA 22-Jan-21 E.G.M.
TCS 14-Jan-21 Interim Dividend – Rs. – 6.0000 DCMSHRIRAM 27-Jan-21 Interim Dividend
URJAGLOBA 14-Jan-21 Right Issue of Equity Shares GMM 28-Jan-21 Interim Dividend


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