outlookNIFTY:

The Nifty opened at 14999.05 without much of a gap. Prices initially consolidated for almost one hour and then broke down from its early morning lows. The Nifty fell more than 350 points from its intraday highs at 15010.10 to its intraday low at 14635.05 and finally closed at 14675.70 with a loss of 306.05 points. All the sectoral indices have closed lower except Metal led by Media,, IT and Auto. Correction continued in the Nifty for the fifth consecutive trading days. The index has recorded its lifetime highs at 15431.75. Prices have fallen almost 800 points from that high in the last five trading days. Last week when the Nifty broke and closed below 15050 support then we were waiting for prices to find support. It was a free fall. Intraday rallied did not sustain long and bear used it to take or add short positions. The decline was very intense as the index closed almost at the day low. A strong support zone is visible around 14400-14600 levels. As the Nifty is trading very near 14600 we should wait again for prices to stop moving down and hold this support zone. Please note, we are considering the current decline as a correction to an on going uptrend. Corrections are moves against the main trend. Since the trend following makes money. When the trader gets the sense that a correction is starting, the trading should be stopped as one should not go against the trend. Avoid short selling until some pattern develops of lower lows lower highs.

BANK NIFTY:

Bank Nifty opened at 35874.30 with a gap down of 54 points. The index first rallied, filled the down gap completely and recorded its intraday high at 36128.90. Prices have then immediately fallen down from its intraday high. The index has seen a sharp intraday decline of more than 1000 points to record its intraday low at 35097.55. A minor recovery was seen in the last hours of trading but fizzled out quickly. PSU and Private Banks both have contributed on the downside and closed lower by2.65% and 1.75% respectively. Within the index, HDFC Bank contributed highest while Axis the lowest. The index is down almost 7% in the last five days.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
ADANIENT 808.80 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 802 and for the target 822.
RBLBANK 236.5 SELL The stock has given a breakdown from a narrow trading range. The stock can be sold  at CMP with a stop at 246 and for the target 220

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
AMARARAJA 900 CE BUY 12 CMP 7 20 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
JUBLFOOD.21.02 Feb 3112.75 5.59 26.24 1668250 CHOLAFIN.21.02 Feb 512.9 -2.93 29 6482500
HDFCBANK.21.02 Feb 1541.35 0.13 15.6 25322000 TATAPOWER.21.02 Feb 89.55 -1.7 27.99 133029000
INDUS TOWERS LIMITED.21. 266.2 1.93 11.68 11541600 LALPATHLAB.21.02 Feb 2395.6 -1.25 27.32 130500
TATACHEM.21.02 Feb 638.1 2.84 9.64 8144000 INDUSINDBK.21.02 Feb 1019.95 -4.47 21.04 17968500
MOTHERSUMI.21.02 Feb 214.55 0.14 6.95 29071000 MUTHOOTFIN.21.02 Feb 1285.15 -0.83 20.8 4290750
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
AARTIIND.21.02 Feb 1220.05 2.63 -8.65 381650 HDFCAMC.21.02 Feb 2847.55 -2.85 -18.59 369600
TATACONSUM.21.02 Feb 618 0.04 -4.48 11732850 BRITANNIA.21.02 Feb 3335.35 -0.08 -11.96 2223400
TORNTPOWER.21.02 Feb 378.95 3.37 -3.6 2895000 BIOCON.21.02 Feb 392.95 -2.32 -11.37 12215300
NATIONALUM.21.02 Feb 52.15 0.58 -3.15 43418000 POWERGRID.21.02 Feb 224.9 -3.35 -9.64 14208000
TATASTEEL.21.02 Feb 680.2 1.21 -3.09 32286400 IDFCFIRSTB.21.02 Feb 61.15 -2.24 -7.24 91580000

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Icici Lombard General In 1466.15 -1.85 787448 512192 72.6 Nifty Metal 3609.1 1.6 97833
Aarti Industries Ltd. 1222.35 2.9 442412 185886 59.89 Nifty Fmcg 32891.7 -1.34 97833
Infosys Limited 1265.2 -2.02 7371303 2864493 53.15 Nifty Bank 35257.2 -1.63 97833
Britannia Ind Ltd. 3341.2 0.3 666371 394072 51.47 Nifty Energy 18336.85 -1.84 97833
Tata Consultancy Serv Lt 2958.45 -3.69 5366696 1878814 50.44 Nifty 50 14675.7 -2.04 97833
Indus Towers Limited 266.35 2.15 10993150 2867699 49.01 Nifty Auto 10300 -2.28 97833
Itc Ltd. 207.05 -4.12 51546288 13596630 48.34 Nifty Pharma 12032.3 -2.55 97833
Muthootfin 1291.4 -0.43 1902991 1039054 48.18 Nifty Realty 338.3 -2.8 97833
Vodafone Idea Limited 10.75 -1.38 244411595 150300726 47.54 Nifty it 24766.45 -2.89 97833
Power Grid Corporation o 224.95 -3.12 14512980 9095974 44.5 Nifty Media 1620.25 -3.42 97833

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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

•The Supreme Court has agreed to hear Amazon.com Inc’s petition against a Delhi High Court order vacating the status quo on Future Retail Ltd.’s close to Rs 27,000-crore deal with Reliance Retail Ventures Ltd. A two-judge bench comprising Justice RF Nariman and BR Gavai issued notice on the plea.

•The country’s largest coal miner, state-owned Coal India Limited (CIL), has joined hands with Centre for Railway Information Systems (CRIS), an arm of Ministry of Railways, for frieght monitoring and data sharing. CIL will get access to the Freight Operations Information System (FOIS) of Indian Railways, to help the coal miner monitor movement of coal rakes and coal despatch activity. CIL signed a Memorandum of Understanding with CRIS for the same.

•Brent oil resumed gains, with Goldman Sachs Group Inc. predicting prices will advance into the $70s in the coming months. Futures in London rose back above $63 a barrel after the gradual resumption of some U.S. output following frigid weather put prices under pressure on Friday.

•Engineering and construction major Larsen & Toubro (L&T) on Monday said its power transmission and distribution business has bagged large domestic and overseas contracts across its spectrum of offerings. Though the company did not specify the exact value of the contracts, as per its specification a large contract ranges between Rs 2,500 crore and Rs 5,000 crore.

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
ABHIINFRA General 23-Feb-21 ASYAINFO Quarterly Results 24-Feb-21
ELANTAS Audited Results;Dividend 23-Feb-21 BIGBLOC General 24-Feb-21
SAFARIND General 23-Feb-21 CONTPTR General 24-Feb-21
SANOFI Audited Results;Final Dividend 23-Feb-21 HUHTAMAKI Audited Results;Final Dividend 24-Feb-21
SMAUTO General 23-Feb-21 INDIANVSH Quarterly Results 24-Feb-21
STOVEKRAFT Quarterly Results 23-Feb-21 SPANDANA General 24-Feb-21
UDL Quarterly Results 23-Feb-21 HINDMOTORS General 25-Feb-21
UNIPLY Quarterly Results 23-Feb-21 KSB Dividend;Quarterly Results 25-Feb-21
VENUSREM Issue Of Warrants;General 23-Feb-21 POWERINDIA General 25-Feb-21
AANANDALAK Quarterly Results 24-Feb-21 RAIN Audited Results 25-Feb-21

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ARVINDFASN 23-Feb-21 Right Issue of Equity Shares ZUARIGLOB 23-Feb-21 Interim Dividend – Rs. – 1.00
COCHINSHIP 23-Feb-21 Interim Dividend – Rs. – 4.00 ISGEC 24-Feb-21 Interim Dividend – Rs. – 2.00
IRCON 23-Feb-21 Interim Dividend – Rs. – 1.30 KARDA 24-Feb-21 Interim Dividend – Rs. – 0.0500
NIITLTD 23-Feb-21 Buy Back of Shares NILE 24-Feb-21 Interim Dividend – Rs. – 1.00
OIL 23-Feb-21 Interim Dividend – Rs. – 3.50 RACLGEAR 24-Feb-21 Interim Dividend – Rs. – 1.00
PRECWIRE 23-Feb-21 Interim Dividend – Rs. – 2.00 SANDHAR 24-Feb-21 Interim Dividend – Rs. – 1.2500
SJVN 23-Feb-21 Interim Dividend – Rs. – 1.80 TECHNOE 24-Feb-21 Interim Dividend – Rs. – 3.00
TOWERINFRA 23-Feb-21 Income Distribution (InvIT) AMARAJABAT 25-Feb-21 Interim Dividend – Rs. – 5.00
UNIDT 23-Feb-21 Interim Dividend – Rs. – 0.90 CAREERP 25-Feb-21 Interim Dividend – Rs. – 1.00

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