NIFTY:

The Nifty opened at 15074.80 with a gap down of 44 points. The index initially went up, filled the gap completely and recorded its intraday high at 15144.05. Prices did not sustain there long and started moving on the downside. A decline of about 240 points cam and prices have recorded its intraday low at 14898.20. However in the last 30 minutes of trading, prices have seen a minor recovery and finally closed at 14981.75 with a loss of 137.20 points. All the sectoral indices have seen a decline and closed with loss led by Banks. The decline continued in the Nifty and it became more intense. After filling the gap down, prices have started moving in positive territory. However prices did not sustain long there. Bears came and took Nifty al the way down to 14900. The Nifty continued moving down for the fourth consecutive trading days and the index went below 15000. Nifty has broken its strong support of 15000. We need a follow through on the downside to confirm this breakdown.We had decided that if the Nifty closes below 15000 we will wait for prices to find support and then look for a buying opportunity. We will avoid taking  a short trade since the main trend is still very strong on the upside.Long term trend has started moving sideways. The long term momentum has fallen down but still moving in the strength zone.

BANK NIFTY:

Bank Nifty opened at 36371.55 with a gap down of 239 points. The index first rallied, filled the down gap completely and recorded its intraday high at 36656.20. Prices have then immediately fallen down from its intraday highs. The index has seen a sharp intraday decline of more than 1000 points to record its intraday low at 35584.60. With the help of minor recovery in the last 30 minutes of trading. Bank Nifty finally closed at 35841.60.PSU Banks have underperformed and closed lower by 4.76% while Private Banks have also closed lower by 1.55&. Within the index in terms of points, Indusind Bank conrtributed highest while ICICI Bank the lowest.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
RELIANCE 2080.30 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 2060 and for the target 2130
TCS 3071.85 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 3050 and for the target 3110.

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
L&TFH 100 CE BUY 2.45 CMP 1.3 4.5 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
CHOLAFIN.21.02 Feb 528.4 0.15 4.15 5025000 FINNIFTY.21.02 Feb 16751.45 -1.64 7.45 20760
INDUS TOWERS LIMITED.21. 261.15 0.6 1.35 10334800 AMARAJABAT.21.02 Feb 874.35 -1.42 1.99 2974000
DABUR.21.02 Feb 514.4 -1.22 1.85 10692500
HDFCAMC.21.02 Feb 2931.05 -1.36 1.7 454000
GLENMARK.21.02 Feb 481.75 -2.62 1.5 5292300
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
INDUSINDBK.21.02 Feb 1067.7 1.97 -27.74 14845500 GRASIM.21.02 Feb 1217.7 -1.08 -59.23 6795350
IDFCFIRSTB.21.02 Feb 62.55 7.66 -23.87 98724000 JSWSTEEL.21.02 Feb 394.95 -3.08 -48.62 16173000
GAIL.21.02 Feb 145.2 1.47 -15.98 26681400 LALPATHLAB.21.02 Feb 2425.9 -2.93 -25.18 102500
MGL.21.02 Feb 1182.85 1.31 -15.55 1365000 PNB.21.02 Feb 42.1 -4.1 -25.03 105792000
HCLTECH.21.02 Feb 950.1 0.2 -12.63 15490300 GMRINFRA.21.02 Feb 25.1 -3.46 -21.12 86220000

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Hindustan Unilever Ltd 2181.1 1.6 3364030 2319377 72.35 Nifty Fmcg 33336.8 -0.11 1121668
Godrej Cons Products Ltd 709.7 -1.26 1758878 987832 67.27 Nifty it 25503.2 -0.45 1484449
Aarti Industries Ltd. 1187.9 -3.36 310371 169136 66.3 Nifty Energy 18681.5 -0.47 3978177
Icici Lombard General In 1493.75 -0.3 705510 305189 61.22 Nifty Media 1677.65 -0.86 497041388
Dabur India Ltd. 513.45 -1.27 13849233 2086307 61.06 Nifty 50 14981.75 -0.91 55831971
Kotak Mahindra Bank Limi 1938.75 -0.34 2735683 2009851 56.8 Nifty Realty 348.05 -1.3 2147483500
Indus Towers Limited 260.75 0.42 5851020 4739930 56.16 Nifty Pharma 12347.4 -1.36 67552718
Hdfc Life Insurance Comp 710.65 -0.39 3787638 1614660 54.74 Nifty Metal 3552.1 -1.96 234099419
Britannia Ind Ltd. 3331.2 -0.84 765676 335122 54.39 Nifty Bank 35841.6 -2.04 23219385
Max Financial Services l 838.7 -3.55 1153212 759304 54.13 Nifty Auto 10540.35 -2.65 78779036

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Upcoming Economic Data

   Domestic                                                                                                                                                  International
INR:  Infrastructure Output YoY (Jan) on 26th  February, 2021

INR:  GDP Quarterly (YoY) (Q3) on 26th  February, 2021

•USD :  CB Consumer Confidence (Feb) on 23rd February, 2021

•USD :  New Home Sales (Jan) on 24th February, 2021

News Updates

•Ashok Leyland has started production of buses at its new plant in Andhra Pradesh. The development comes at a time when the company’s bus volume continues to be under pressure. In a disclosure to BSE, Ashok Leyland said that commercial production of the buses at the plant set up at Vijayawada, Andhra Pradesh commenced on February 19, 2021.

•LIC Housing Finance on Friday said it has disbursed Rs 1,331 crore worth loans through its mobile banking app in the last one year. It said the ‘Homy’ app facilitated 14,155 customer home loan applications since its launch on February 14, 2020. More than 7,300 of these customers have had their home loans sanctioned.

•Petrol and diesel prices have begun to pinch consumers harder with oil marketing companies (OMCs) reserving the weekend for effecting the steepest hike in last several months. Accordingly, the price of petrol and diesel were raised by 39 paisa and 37 paisa per litre respectively in Delhi on Saturday.

•Vehicle price hikes coupled with cost rationalisation measures taken by OEMs will limit the impact of rising input cost but these might not be adequate enough to sustain margins at the 3QFY21 levels, said India Ratings and Research. Accordingly, the Q4FY21-Q1FY22 standalone EBITDA margins of OEMs could be 100-200 basis points lower than Q3FY21’s margins, on account of the recent spike in input prices.

Source: Economic Times,  Moneycontrol  ,Business Today, Livemint, Business Standard, Bloomberg Quint

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Board Meetings

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
APOORVA Quarterly Results 22-Feb-21 ELANTAS Audited Results;Dividend 23-Feb-21
DBREALTY General;Preferential Issue of shares 22-Feb-21 SAFARIND General 23-Feb-21
INCON General;Voluntary Delisting of Shares 22-Feb-21 SANOFI Audited Results;Final Dividend 23-Feb-21
INDIAMART General 22-Feb-21 SMAUTO General 23-Feb-21
KLKELEC General 22-Feb-21 STOVEKRAFT Quarterly Results 23-Feb-21
SENINFO General 22-Feb-21 UDL Quarterly Results 23-Feb-21
SPELS Quarterly Results 22-Feb-21 UNIPLY Quarterly Results 23-Feb-21
TRANSASIA General 22-Feb-21 VENUSREM Issue Of Warrants;General 23-Feb-21
UNISHIRE General 22-Feb-21 AANANDALAK Quarterly Results 24-Feb-21
ABHIINFRA General 23-Feb-21 ASYAINFO Quarterly Results 24-Feb-21

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
AUROPHARMA 22-Feb-21 Interim Dividend – Rs. – 1.50 SELAN 22-Feb-21 Interim Dividend – Rs. – 5.00
DCMSRMIND 22-Feb-21 Interim Dividend – Rs. – 5.00 SHANTIGEAR 22-Feb-21 Interim Dividend – Rs. – 1.50
GOLDIAM 22-Feb-21 Interim Dividend – Rs. – 2.00 TIINDIA 22-Feb-21 Interim Dividend – Rs. – 2.00
ITC 22-Feb-21 Interim Dividend – Rs. – 5.00 ARVINDFASN 23-Feb-21 Right Issue of Equity Shares
MAZDOCK 22-Feb-21 Interim Dividend – Rs. – 5.4100 COCHINSHIP 23-Feb-21 Interim Dividend – Rs. – 4.00
MERCURYLAB 22-Feb-21 Interim Dividend – Rs. – 1.50 IRCON 23-Feb-21 Interim Dividend – Rs. – 1.30
NATCOPHARM 22-Feb-21 Interim Dividend – Rs. – 1.00 NIITLTD 23-Feb-21 Buy Back of Shares
NHPC 22-Feb-21 Interim Dividend – Rs. – 1.2500 OIL 23-Feb-21 Interim Dividend – Rs. – 3.50
PANCHSHEEL 22-Feb-21 Interim Dividend – Rs. – 1.50 PRECWIRE 23-Feb-21 Interim Dividend – Rs. – 2.00

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