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NIFTY:

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:

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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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
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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DERIVATIVE PICKS

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
Sectors Price Change % Quantity
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

   Domestic                                                                                                                                                  International
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

 

NEWS UPDATES

•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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BOARD MEETING

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
ESARIND General 01-Feb-21 QGO Quarterly Results;General 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
GLOBALCA General 01-Feb-21 SWAGTAM 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

 

CORPORATE ACTION

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

 

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

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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