2021-01-18-OUTLOOKNIFTY:

The Nifty opened at 14594.35 down by just 1 points. The index moved further on the downside and recorded its intraday low at 14357. The index then had a pull back and saw an upside move of about 100 points from its  low to close at 14433. All the sectoral indices have closed in the red with the volatility increasing in the market.

Nifty continued trading volatile where the markets may be seeing some kind of profit booking as its facing resistance around 14650. The Nifty witnessed some modest recovery after the initial sharp fall.

A trading range is now visible at the top of this rally. Boundaries of this range are 14350 as support and 14650 as resistance. Since the trend is very strong, we should look to buy on a breakout of this range. If the range is broken on the downside, we may further see a move downside till14100.

BANK NIFTY:

Bank Nifty opened at 32508.90 with a slight gap down. It was a trend day on the downside, where prices have moved on the downside with slight pull backs during the day. The index recorded its low at 32044 and finally closed at 32246.80.

Both PSU and Private Banks have closed down with PSU Banks closing down by 2% and private banks by 0.79%

The index has good support around 31900 close to Friday’s low where we saw a pull back in the market. Since the trend is strong on the upside, traders can look to buy the index on a dip.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
ITC 217.85 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 212 and for the target 225.
HDFCBANK 1466.65 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 1447 and for the target 1490.

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
GODREJCP 780 CE BUY 26.60 CMP 21 32 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
SAIL.21.01 Jan 70.5 4.37 85.21 142234000 HDFCAMC.21.01 Jan 3250.45 -2.29 24.23 355800
INDUS TOWERS LIMITED.21. 263.05 2.53 8.25 9738400 CADILAHC.21.01 Jan 488.4 -3.45 10.31 11160600
TATAMOTORS.21.01 Jan 261.6 6.28 6.68 71814300 L&TFH.21.01 Jan 103.55 -2.08 9.42 28742900
APOLLOHOSP.21.01 Jan 2598.1 3.29 6.1 1642500 VOLTAS.21.01 Jan 891.65 -2.48 8.79 2190000
IDEA.21.01 Jan 13.75 10.89 5.02 934080000 BERGEPAINT.21.01 Jan 779.75 -2.16 8.74 2407900
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
UPL.21.01 Jan 522.9 2.42 -9.51 16052400 FINNIFTYW.21.01 Jan 15476.5 -0.82 -45.54 19280
RECLTD.21.01 Jan 145.45 1.04 -8.25 13416000 GAIL.21.01 Jan 136.4 -3.98 -14.67 28493100
BHARTIARTL.21.01 Jan 603.7 3.84 -4.23 92053932 AARTIIND.21.01 Jan 1257.65 -0.94 -7.81 381225
ITC.21.01 Jan 218.2 1.39 -3.53 106476800 RAMCOCEM.21.01 Jan 822.2 -2.07 -7.78 1339600
JINDALSTEL.21.01 Jan 299.1 1.36 -2.11 22700000 BHEL.21.01 Jan 39.35 -2.24 -7.24 101997000

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Icici Lombard General In 1550.85 -0.25 347984 198538 66.38 Nifty Auto 10178.3 -0.59 73599422
Hdfc Ltd. 2632.75 -1.91 2582955 2732578 64.24 Nifty Fmcg 34630.05 -0.73 970400
Kotak Mahindra Bank Limi 1863.9 -1.52 2715164 3028209 63.04 Nifty Bank 32246.8 -0.84 23228331
Max Financial Services l 707.55 -1.75 852193 638835 60.91 Nifty Metal 3449.15 -1.1 216059418
Tata Consumer Products l 602.4 -1.89 4492648 2163917 60.51 Nifty 50 14433.7 -1.11 51811450
Colgate Palmolive (india 1562.2 -1.98 503985 295760 56.49 Nifty Media 1732.6 -1.27 430714819
Power Grid Corporation o 203 -1.02 7610734 3712302 54.88 Nifty Pharma 13014.25 -1.65 57253027
Hdfc Life Insurance Comp 704.85 -0.29 2417123 1071313 53.69 Nifty Realty 331.25 -1.82 2147483500
Reliance Industries Ltd 1937.45 -1.18 9503790 5225648 52.54 Nifty Energy 17341.05 -1.86 2594376
Aarti Industries Ltd. 1256.5 -0.68 167836 144194 52.12 Nifty it 26362.8 -2.24 3087416

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UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR:  FX Reserves, USD on 22nd January, 2021 •USD : Crude Oil Inventories on 20th January, 2021

•USD : Philadelphia Fed Manufacturing Index (Jan) on 21st January, 2021

NEWS UPDATES

•Automobile Benchmark indices posted their biggest drop on Friday in nearly a month, amid a decline in global markets, after US President-elect Joe Biden’s $1.9-trillion Covid-19 relief plan sparked concerns over an increase in corporate taxes. The dollar rose, while oil prices came off their 10-month highs as investors mounted risk-off bets.

•Dr Reddy’s Laboratories on Friday said it has received approval from the Drugs Control General of India (DCGI) to conduct phase 3 clinical trial for the Sputnik V vaccine for COVID-19. The phase 3 study of Sputnik V will be conducted on 1500 subjects as part of the randomized, double-blind, parallel-group, placebo-controlled study in India.

•Billionaire Ajay Piramal won the most contested bankruptcy bid for Dewan Housing Finance Ltd., trumping distressed fund Oaktree Capital and Adani Capital as creditors overwhelmingly voted for the drug-maker turned real estate and mortgage lender. Piramal’s bid received about 94 percent of votes of the creditors, followed by Oaktree at 45 percent, sources told ET.

•L&T Finance Holdings Ltd. (LTFH), a part of Larsen & Toubro Group, on Friday reported a 51 per cent decline in consolidated net profit at Rs 291 crore for the third quarter ended December 31, 2020, as compared to Rs 591 crore in the corresponding period last year. The consolidated revenue from operations declined to Rs 3,503.43 crore compared to Rs 3,630.64 crore in Q3 FY20, LTFH said in an exchange filing. The revenue from operations stood at Rs 3,408.10 crore in September quarter.

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
ALEXANDER Quarterly Results 18-Jan-21 IRB General;Quarterly Results 18-Jan-21
ALOKTEXT Quarterly Results 18-Jan-21 L&TFH Right Issue of Equity Shares 18-Jan-21
ANMOL General 18-Jan-21 MAHACORP General 18-Jan-21
ASINPET General 18-Jan-21 MINDTREE Quarterly Results 18-Jan-21
DECNGOLD Quarterly Results 18-Jan-21 MJCO Audited Results;Quarterly Results 18-Jan-21
EASUN General 18-Jan-21 RALLIS Quarterly Results 18-Jan-21
ENCASH General 18-Jan-21 SAGARSOFT Quarterly Results 18-Jan-21
HMVL Quarterly Results 18-Jan-21 SHAKTIPUMP Quarterly Results 18-Jan-21
IBREALEST General;Quarterly Results 18-Jan-21 SNOWMAN Quarterly Results 18-Jan-21
INDIAMART Preferential Issue ; Quarterly Results 18-Jan-21 TRIDENT Quarterly Results 18-Jan-21
IPOWER General;Quarterly Results 18-Jan-21 ULTRACAB Quarterly Results 18-Jan-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ARCHIDPLY 18-Jan-21 Buy Back of Shares WIPRO 22-Jan-21 Interim Dividend – Rs. – 1.0000
IRBINVIT 20-Jan-21 Income Distribution (InvIT) DCMSHRIRAM 27-Jan-21 Interim Dividend
HCLTECH 21-Jan-21 Interim Dividend – Rs. – 4.0000 GAIL 27-Jan-21 Buy Back of Shares
TAALENT 21-Jan-21 Interim Dividend – Rs. – 20.0000 GAIL 27-Jan-21 Interim Dividend – Rs. – 2.5000
CESC 22-Jan-21 Interim Dividend – Rs. – 45.0000 GMM 28-Jan-21 Interim Dividend
TOWERINFRA 22-Jan-21 Income Distribution (InvIT) HAVELLS 28-Jan-21 Interim Dividend


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