NIFTY:
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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