NIFTY:
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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