2021-01-20-OutlookNIFTY:

The Nifty opened at 14371.65 with a gap up of 90 points supported by global cues. The index first moved down and recorded its intraday low at 14350.85. The index then saw a sharp rally of almost 200 points intraday and recorded its intraday high at 14546.05. Prices have finally closed near its day high at 14521.15 with a gain of 239.85 points. All the sectoral indices have closed with gains led by Realty, Metal and Financials.

Bulls Back in action as the Nifty gains over 200 points compared to Monday’s closing. A big gap up followed by a strong intraday rally brought prices above 14500 again. The volatile movement continued for the third day and the index continued trading in a large intraday range.

We should consider the last few days of decline as correction in an ongoing uptrend and the strength shown yesterday should be looking at a finding support after a correction. This gives us an opportunity to buy on a dip.
For today, we should take a long trade on the continuing signs of strength. The idea is to wait will 9:30 and then take a long trade above the high of the first 15 minutes. Keep a stop of 75 points and a target of 180 points.

BANK NIFTY:

Bank Nifty opened at 32089.90 with a big gap up of 404 points. The index initially went down and recorded its intraday low at 31863.95. Prices then saw one way move on the upside and finally closed at 32424. PSU and Private Banks both have seen an upside move and closed higher by more than 2%. Within the index, ICICI Bank contributed highest followed by HDFC Bank. The index holds its early morning strength and added further into the gains. All the stock in the bank index have performed well and closed with gains.

The index finds support around 31700 and saw a bounce back. Resistance is visible around 32700.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
TATASTEEL 681.10 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 670 and for the target 695.
CADILAHC 485.20 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 475 and for the target 500

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
ICICIPRULI 510 CE BUY 21 CMP 17.4 27 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
BANDHANBNK.21.01 Jan 364.45 2.37 18.85 24408000 ICICIGI.21.01 Jan 1517.2 17.97 -0.84 792200
HAVELLS.21.01 Jan 1024.9 4.17 15.59 4314000 TATACONSUM.21.01 Jan 585 6.08 -0.32 15230700
DLF.21.01 Jan 292 5.28 13.51 24294600
CHOLAFIN.21.01 Jan 439.6 7.43 12.9 5142500
MINDTREE.21.01 Jan 1686.45 1.06 11.39 2049600
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
FINNIFTYW.21.01 Jan 15635 2.65 -14.1 15600
L&TFH.21.01 Jan 105.7 8.52 -7.09 27846500
APOLLOTYRE.21.01 Jan 189.25 5.31 -5.65 12525000
TORNTPHARM.21.01 Jan 2754.85 3.95 -4.85 858500
IDEA.21.01 Jan 13.3 2.31 -4.03 824880000

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Power Grid Corporation o 199.65 1.99 10902844 9800881 66.71 Nifty Realty 338.15 4.19 82611
Aarti Industries Ltd. 1235.2 0.73 283539 165124 64.81 Nifty Metal 3405.2 2.92 82611
Hdfc Ltd. 2656.95 3.52 3569359 3245275 62.96 Nifty Media 1735.75 2.49 82611
Max Financial Services l 712.5 2.82 1198671 807062 59.26 Nifty Bank 32424.85 1.93 82611
Hindustan Unilever Ltd 2363.15 1.31 1495269 984021 56.76 Nifty Energy 17518.55 1.85 82611
Tata Consultancy Serv Lt 3260.7 1.21 2975735 2204487 52.98 Nifty Auto 10136.8 1.76 82611
Petronet Lng Limited 249.35 2.51 5124466 4974389 52.11 Nifty Pharma 12866.05 1.68 82611
Divi S Laboratories Limi 3599.45 0.96 834021 470332 49.38 Nifty 50 14521.15 1.68 82611
Icici Prudential Life In 515.55 1.71 1948275 1782256 49.33 Nifty it 26043.5 0.49 82611
Colgate Palmolive (india 1556.1 0.87 502059 315413 46.22 Nifty Fmcg 34659.85 0.46 82611

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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

•PVR Ltd. is in talks with Bollywood producers to release their movies in cinema halls now rather than on streaming sites like those run by Netflix Inc. and Amazon.com Inc., now that the pandemic is easing in India. The country’s biggest cinema operator, which runs about 835 screens across 71 cities, is currently operating most theaters at half capacity due to Covid-related restrictions. However, it sees benefits in the “age-old strategy” of movies first coming to the big screen before being monetized on other platforms.

•DCM Shriram on Tuesday reported a 45% increase in its consolidated net profit at ₹252.55 crore for the quarter ended December and announced a ₹1,000 crore investment to grow its chemical business. Its net profit stood at ₹174.35 crore in the year-ago period.

•Homegrown auto major Tata Motors on Tuesday said it has received 98 patents last year under its accelerated drive for engineering excellence and innovation. These patents predominantly relate to the megatrend of CESS (connected, electrified, sustainable and safe) automobiles, the company said in a statement.

•Escorts on Monday received certification for compliance to Central Motor Vehicles Rules for its electric tractors, becoming the first company in India to get the regulatory nod to sell tractors with an electric drivetrain.. It had first showcased the concept of this tractor in 2017. The motor on these tractors will be manufactured by Kirloskar Electrical Company Ltd, according to the certification documents.

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
ALLSEC Quarterly Results 20-Jan-21 EXCEL Quarterly Results 20-Jan-21
ARFIN Quarterly Results 20-Jan-21 FEDERALBNK Quarterly Results 20-Jan-21
ATFL Quarterly Results 20-Jan-21 GGENG Quarterly Results 20-Jan-21
BAJAJFINSV Quarterly Results 20-Jan-21 GMM Interim Dividend;Quarterly Results 20-Jan-21
BAJFINANCE Quarterly Results 20-Jan-21 GULPOLY Quarterly Results 20-Jan-21
BIRLAPREC General 20-Jan-21 HAVELLS Interim Dividend;Quarterly Results 20-Jan-21
CFEL Quarterly Results 20-Jan-21 HDFCAMC Quarterly Results 20-Jan-21
CHANDRAP General;Quarterly Results 20-Jan-21 HINDZINC Quarterly Results 20-Jan-21
CONFIPET Quarterly Results 20-Jan-21 INDOCITY Quarterly Results 20-Jan-21
DHRUVES Quarterly Results 20-Jan-21 INDORAMA Quarterly Results 20-Jan-21
EVERESTIND Quarterly Results 20-Jan-21 LTTS Quarterly Results 20-Jan-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
IRBINVIT 20-Jan-21 Income Distribution (InvIT) WIPRO 22-Jan-21 Interim Dividend – Rs. – 1.0000
HCLTECH 21-Jan-21 Interim Dividend – Rs. – 4.0000 DCMSHRIRAM 27-Jan-21 Interim Dividend
L&TFH 21-Jan-21 Right Issue of Equity Shares 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 INDIGRID 27-Jan-21 Income Distribution (InvIT)
TOWERINFRA 22-Jan-21 Income Distribution (InvIT) SIEMENS 27-Jan-21 Final Dividend – Rs. – 7.0000


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