The Nifty opened at 13946.60 with a big gap up of 129 points. Prices have recorded its intraday high at 13966 and then fell down. Minor rallies in between quickly sold into and then the index finally closed near its lows at 13634.60 with a loss of 182.95 points. Banks and Realty have closed with gains while all the other sectoral indices have closed with loss. The Nifty continued its downfall after a trading range bound yesterday. A gap up in the morning did not sustain. It was a one way journey on the downside where prices have recorded its intraday high near the opening tick and intraday low near the closing tick. Bears were in full control over the markets and the Nifty has seen an intraday decline of more than 300 points.
Volatility is very high as of now due to the Union Budget scheduled on Monday 1st Feb. Price movement is becoming more random and sharp.
We should try taking trades once the volatility cools off. Markets have seen a sharp dip. That has given a chance to investors and positional traders to add or take fresh investment.
The long term trend is now down. That is the trend that controls the movement of the market. Most institutional traders and investors watch this trend.
Bank Nifty opened at 30700.65 with a gap up of 353 points. The index first moved down and recorded its intraday low at 30254.55. Prices then saw a sharp intraday rally of about 860 points and recorded its intraday high at 31111.95. Prices have seen another round of selling towards the end of the days trading session and finally closed at 30565.
PSU Banks have performed better and closed higher by 1.69% while Private Banks have also closed with a gain of 0.85%. Within the index, in terms of points, HDFC Bank contributed highest while Axis Bank the lowest.
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|SBIN||282.10||BUY||The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 277 and for the target 292.|
|TCS||3111.35||SELL||The stock has given a breakdown from a narrow trading range. The stock can be sold at CMP with a stop at 3140and for the target 3060|
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|STOCK OPTION||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|SBILIFE||860 CE||BUY||47.7||CMP||40||60||OI increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|CANBK.21.02 Feb||134||4.69||6327.95||55884600||GMRINFRA.21.02 Feb||23.9||-3.63||6198.06||145957500|
|ZEEL.21.02 Feb||220.6||0.14||5360||24570000||GRASIM.21.02 Feb||1061||-0.79||5875.56||17881850|
|MARICO.21.02 Feb||417.15||1.1||5075.58||8902000||ADANIENT.21.02 Feb||505.5||-1.17||5667.68||18918000|
|COLPAL.21.02 Feb||1616||3.31||4802.13||3225600||BRITANNIA.21.02 Feb||3519||-2.34||5630||1948200|
|ICICIBANK.21.02 Feb||541.25||2.48||3109.95||95379625||DABUR.21.02 Feb||516.75||-2.05||5521.23||14896250|
|Short Covering||Long Unwinding|
|Stocks||Price||Price%||OI%||OI||Stocks||Price||Price %||OI %||OI|
TOP DELIVERY PERCENTAGE
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|Icici Lombard General In||1315.5||-4.07||1339954||570358||63.63||Nifty Bank||30565.5||0.68||86616|
|Tata Consultancy Serv Lt||3111.35||-2.67||5445659||1689185||54.77||Nifty Realty||305.65||0.49||86616|
|Hdfc Ltd.||2377.8||-1.98||7347695||2821927||53.42||Nifty Media||1650.1||-1.11||86616|
|Power Grid Corporation o||184.45||-1.52||7545948||4801213||53.11||Nifty 50||13634.6||-1.32||86616|
|Steel Authority Of India||57.65||1.23||1.72E+08||58143010||51.77||Nifty Fmcg||33121.05||-1.5||86616|
|Icici Prudential Life In||481||-2.02||2862687||1529294||51.67||Nifty Pharma||12170.25||-1.82||86616|
|Infosys Limited||1239.05||-2.91||12183519||2338859||50.18||Nifty Energy||16159.2||-1.83||86616|
|Kotak Mahindra Bank Limi||1712.95||-0.57||5140687||3009490||49.86||Nifty Metal||3077.45||-1.93||86616|
|Hdfc Bank Ltd.||1390.5||1.39||14352251||10585667||49.58||Nifty it||24645.75||-2.59||86616|
|Hdfc Life Insurance Comp||677.95||0.92||4598451||916074||46.64||Nifty Auto||9813.15||-2.89||86616|
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UPCOMING ECONOMIC DATA
|INR: Nikkei Markit Manufacturing PMI (Jan) on 1st February, 2021
INR: Indian Union Budget on 1st February, 2021
|•USD : ISM Manufacturing PMI (Jan)on 1th February, 2021
•USD : ISM Non-Manufacturing PMI (Jan) on 3rd February, 2021
|•Tata Motors Ltd. returned to profit after three quarters as sales at its luxury unit climbed and domestic passenger vehicle shipments rebounded amid festive push and preference for personal mobility during the pandemic. Net profit of the homegrown automaker stood at Rs 2,941 crore in the quarter ended December compared with a net loss of Rs 314 crore in the preceding three months and a Rs 1,738- crore profit a year ago.
•Cipla Ltd.’s Net profit more than doubled to Rs 748.1 crore year-on-year in the quarter ended December, the drugmaker said in an exchange filing. Analysts tracked by Bloomberg pegged the metric at Rs 604.9 crore. Revenue rose 18% year-on-year to Rs 5,168.7 crore. Operating profit rose 62% year-on-year to Rs 1,231 crore—higher than the Rs 1,069.1-crore estimate. Margin expanded more than 600 basis points to 23.8% from 17.4% last year.
•IndusInd Bank Ltd. saw its net profit fall as provisions increased. Net profit of the private sector declined 36.5% year-on-year to Rs 830.39 crore in the three months ended December. The lender’s gross non-performing asset ratio as on Dec. 31 stood at 1.74% compared with 2.21% in the July-September quarter.
•UPL Ltd. saw its revenue rise 3% over the year earlier to Rs 9,126 crore in the quarter ended December, according to an exchange filing. UPL maintained its guidance of 6-8% growth in revenue and 10-12% in Ebitda for the financial year ending March 2021.
•Source: Economic Times, Moneycontrol ,Business Today, Livemint, Business Standard, Bloomberg Quint
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|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|ALUFLUOR||Quarterly Results||01-Feb-21||INDERGR||Quarterly Results||01-Feb-21|
|AMNPLST||Quarterly Results||01-Feb-21||INRADIA||Quarterly Results||01-Feb-21|
|CASTROLIND||Dividend;Audited Results||01-Feb-21||KANSAINER||Quarterly Results||01-Feb-21|
|COROMANDEL||Interim Dividend;Quarterly Results||01-Feb-21||MASTEK||Quarterly Results||01-Feb-21|
|DITCO||Quarterly Results||01-Feb-21||MRPL||Quarterly Results||01-Feb-21|
|ENTRINT||Quarterly Results||01-Feb-21||ONMOBILE||Quarterly Results||01-Feb-21|
|ESCORTSFIN||Quarterly Results;General||01-Feb-21||RBL*||Quarterly Results||01-Feb-21|
|ESTER||Quarterly Results||01-Feb-21||RELCAPITAL||Quarterly Results||01-Feb-21|
|FINOLEXIND||Quarterly Results||01-Feb-21||RELINFRA||Quarterly Results||01-Feb-21|
|FORTISMLR||Quarterly Results||01-Feb-21||SUBEX||Interim Dividend;Quarterly Results||01-Feb-21|
|GCCLINP||Quarterly Results||01-Feb-21||SURYALAXMI||Quarterly Results||01-Feb-21|
|GSCLCEMENT||Quarterly Results||01-Feb-21||TALBROSENG||Quarterly Results||01-Feb-21|
|HARDCAS||Quarterly Results;General||01-Feb-21||VIRGOGLOB||Quarterly Results||01-Feb-21|
|INANI||Quarterly Results||01-Feb-21||ZYDUSWELL||Quarterly Results||01-Feb-21|
|Company Name||Ex-Date||Purpose||Company Name||Ex-Date||Purpose|
|PHILIPCARB||01-Feb-21||Interim Dividend – Rs. – 7.00||KKCL||03-Feb-21||Interim Dividend – Rs. – 8.00|
|SYMPHONY||01-Feb-21||Interim Dividend – Rs. – 1.00||KNRCON||03-Feb-21||Bonus issue 1:1|
|KAJARIACER||02-Feb-21||Interim Dividend – Rs. – 10.00||MENONBE||03-Feb-21||Interim Dividend – Rs. – 1.50|
|SAGCEM||02-Feb-21||Interim Dividend – Rs. – 2.00||SUJANAUNI||03-Feb-21||Resolution Plan -Suspension|
|SUNDARMFIN||02-Feb-21||Interim Dividend – Rs. – 12.00||WENDT||03-Feb-21||Interim Dividend – Rs. – 10.00|
|BELLACASA||03-Feb-21||Interim Dividend – Rs. – 0.60||AKCAPIT||04-Feb-21||Interim Dividend – Rs. – 5.00|
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Elite Wealth Ltd. does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Ltd. may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as read more
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