2021-01-14-OutlookNIFTY:

The Nifty opened at 14639.80 with a gap up of 76 points. Initially prices have shown some strength but that fizzles out quickly. The index recorded its intraday high at 14653.35 and then fell down. A sharp decline of more than 200 points came and prices have recorded its intraday low at 14435.70. However prices have recovered from the losses in the last one and a half hours of trading and finally closed at 14564.85 almost at yesterday’s closing price. The Bank Nifty and Auto sectors have performed better and closed higher while Pharma, Realty and Financials have seen a decline and closed lower.

A gap up in the Nifty did not sustain. The index continued making lifetime new highs and the new high was recorded at 14653.35. The intraday movement was very volatile and prices have seen a down move of more than 200 points while an up move of almost 150 points. Today is the F&O weekly expiry and we may see volatility.

Fresh trading opportunities may emerge after a sharp dip. Support is visible around 14000. A dip towards this support may give us a buying opportunity. However we do not expect such a sharp dip anytime soon. Hence we should take only intraday trades for the time being.

BANK NIFTY:

Bank Nifty opened at 32546.60 with a gap up of 205 points. Prices first moved up and recorded its intraday high at 32683.50. Prices then saw a sharp decline of more than 500 points and recorded its intraday low at 32148.25. Prices have recovered in the last one and a half hour of trading and finally closed at 32574.

PSU Banks have continued to perform better and closed higher by 3.27%. Private Banks remains subdued and closed higher by just 0.11%. Within the index, in terms of points SBI Contributed highest while Kotak Bank the lowest. Bank Nifty continued its outperformance compared to Nifty. We had taken a long position around 32300 with the target of 33100, trade is intact.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
CANBK 144.80 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 143 and for the target 149.
GODREJCONS 770.55 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 755 and for the target 790.

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
BHEL 41CE BUY 2.70 CMP 2.30 3.40 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
HDFCAMC.21.01 Jan 3246.25 0.83 19.11 274200 BANDHANBNK.21.01 Jan 377 -3.8 18.26 20926800
BHARATFORG.21.01 Jan 628.35 0.71 15.53 6439500 LICHSGFIN.21.01 Jan 439.25 -0.37 16.31 7318000
TATACHEM.21.01 Jan 546 3.84 12.43 10510000 ICICIGI.21.01 Jan 1555.7 -1.13 12.43 726325
UBL.21.01 Jan 1288 2.91 10.83 1983800 GODREJPROP.21.01 Jan 1436.9 -3.03 12.26 1505400
PNB.21.01 Jan 36.75 0.27 10.28 171200000 MUTHOOTFIN.21.01 Jan 1240.65 -3.3 10.89 5024250
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
BANKNIFTY.21.01 Jan 32649.15 0.6 -8.71 1433950 HDFCBANK.21.01 Jan 1476.5 -0.59 -5.1 31557900
IOC.21.01 Jan 101.4 3.05 -5.82 43147000 MGL.21.01 Jan 1120 -1.11 -3.99 1632000
INDUSINDBK.21.01 Jan 947.65 1.71 -4.44 14851800 COALINDIA.21.01 Jan 145.9 -1.02 -3.69 26724600
NESTLEIND.21.01 Jan 18100 0.04 -1.52 328150 ESCORTS.21.01 Jan 1368.25 -1.03 -3.64 3278550
ZEEL.21.01 Jan 229.15 1.06 -1.32 29475000 IBULHSGFIN.21.01 Jan 233.75 -0.89 -3.26 29871600

 

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Power Grid Corporation o 205 0.64 13383333 12885535 72.83 Nifty Auto 10208.55 0.88 83040
Asian Paints Limited 2703.7 -0.62 2862676 4750700 71.17 Nifty Bank 32574.65 0.73 83040
Kotak Mahindra Bank Limi 1882.1 -1.12 5583130 4104074 68 Nifty Energy 17430.15 0.58 83040
Container Corp Of India 439.5 -1.37 2745987 2681984 63.52 Nifty Metal 3523.25 0.38 83040
Icici Lombard General In 1549 -1.08 554839 281271 62.24 Nifty Fmcg 34617.6 0.37 83040
Hindustan Unilever Ltd 2372.35 -0.15 1702740 1215052 59.66 Nifty Media 1759.05 0.32 83040
Sbi Life Insurance Compa 926.55 0.17 1996557 926643 58.9 Nifty it 27004.3 0.08 83040
Nestleind 18019.3 0.11 109387 81815 57.79 Nifty 50 14564.85 0.01 83040
Hdfc Ltd. 2670.9 -2.79 5582165 1944551 56.99 Nifty Realty 337.6 -0.31 83040
Dabur India Ltd. 536.1 -0.91 2933547 1965404 50.95 Nifty Pharma 13122.55 -0.92 83040

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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 : Initial Jobless Claims on 14th January, 2021

•USD : Fed Chair Powell Speaks on 14th January, 2021

NEWS UPDATES

•Infosys on Wednesday reported a 16.60 per cent year-on-year (YoY) growth in its consolidated net profit at Rs 5,197 crore for the third quarter of the financial year 2021 (Q3FY21). The firm had posted a net profit of Rs 4,457 crore in the same period last year. On a sequential basis, the profit rose 7.3 per cent per cent from Rs 4,845 crore posted for the September 2020 quarter. The company’s revenue came in at Rs 25,927 crore, up 12.27 per cent YoY and 5.52 per cent QoQ. In constant currency terms, the revenue grew 5.3 per cent which was its its highest Q3 sequential growth in 8 years.

•Wipro reported a consolidated profit of Rs 2,966.70 crore for the October-December quarter, rising 20.8 percent compared to Rs 2,455.80 crore in the corresponding quarter of the previous year. Consolidated revenue for the quarter stood at Rs 15,670 crore, which was higher by 1.3 percent compared to Rs 15,470.50 crore reported in the Q3FY20.

•Dixon Technologies has bagged a contract to manufacture Nokia branded mobile phones and smart TVs, besides other agreements with TV companies including Intex, Lloyd and Toshiba. Dixon’s wholly-owned subsidiary Padget Electronics, which started assembling LG smartphones in Noida factory in July this year, is set to start assembling for HMD Global, the maker of Nokia phones as well as for Lenovo-owned Motorola. Besides this, LED TVs of brands including Nokia, Intex, Lloyd and Toshiba will be manufactured in Dixon’s Chittor factory.

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
DEN Quarterly Results 14-Jan-21 BIRLAMONEY Quarterly Results 15-Jan-21
DGCONTENT Quarterly Results 14-Jan-21 GAIL Interim Dividend;Buy Back of Shares 15-Jan-21
FIBERWEB General 14-Jan-21 GGL Quarterly Results 15-Jan-21
HFCL Quarterly Results 14-Jan-21 HATHWAY Quarterly Results 15-Jan-21
KESORAMIND General 14-Jan-21 HCLTECH Interim Dividend;Quarterly Results 15-Jan-21
RIIL General;Quarterly Results 14-Jan-21 IL&FSENGG General 15-Jan-21
TATASTLLP Audited Results 14-Jan-21 INDOASIAF Preferential Issue;Quarterly Results 15-Jan-21
WEBELSOLAR Quarterly Results 14-Jan-21 L&TFH Quarterly Results 15-Jan-21
3IINFOTECH General 15-Jan-21 MSCTC Quarterly Results 15-Jan-21
BAJRFIN Voluntary Delisting of Shares 15-Jan-21 NEXTMEDIA Quarterly Results 15-Jan-21
BGJL Quarterly Results 15-Jan-21 ONWARDTEC Quarterly Results 15-Jan-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
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/- TAALENT 21-Jan-21 Interim Dividend
TCS 14-Jan-21 Interim Dividend – Rs. – 6.00 CESC 22-Jan-21 Interim Dividend – Rs. – 45.00
URJAGLOBA 14-Jan-21 Right Issue of Equity Shares TIRUSTA 22-Jan-21 E.G.M.
ARCHIDPLY 18-Jan-21 Buy Back of Shares WIPRO 22-Jan-21 Interim Dividend – Rs. – 1.00


DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014

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