NIFTY:
Nifty today opened at 14782.25 with a big up 107 points, index did not sustain at the higher level and quickly fell down . Price filed the gap completely and then immediately rallied its intraday high at 14854 . Price did not sustain there and saw a sharp decline ,hit intraday low at 14651.
Metals and realty have performed well today and closed higher buy 3.89 and 2.79 respectively while banks and financials were the biggest losseres
A gap up opening did not sustain and index closed the opening level , this shows bulls do not have enough strength to pull the market up, any buying confirmation will comes when the index closed above 14850.
The intermediate trend has changed to down while the long term trend has changed to sideways. Both trend and momentum are suggesting that consolidation is very near.
Nifty traded very volatile and closed with marginal gains. A short term low may be in place wait for correction.
BANK NIFTY:
Bank nifty opened at 35540 with a gap up however did not sustain long and price have fallen down, filled the gap completely .
we are considering the current decline as a correction in an ongoing uptrend .After correction price may resume its up trend or went into a consolidation. We should wit for prices to find support and then plan our trade accordingly . Avoid carry forwards and shift your focus on intraday trades.
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TECHNICAL PICKS
COMPANY | CMP | B/S | RATIONALE |
TATA CONSUMER | 627.50 | BUY | The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 620 and for the target 640 |
BAJFINSV | 10008.65 | SELL | The stock has given a breakdown from a narrow trading range. The stock can be sold at CMP with a stop at 10150 and for the target 9800 |
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DERIVATIVE PICKS
STOCK OPTION | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
SUNPHARMA | 600 CE | BUY | 7.90 | CMP | 4 | 15 | OI increase |
Long Buildup | Short Buildup | |||||||||
Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
FEDERALBNK.21.02 Feb | 81.95 | 2.57 | 47.16 | 78570000 | BANDHANBNK.21.02 Feb | 325.9 | -0.2 | 33.16 | 17955000 | |
COLPAL.21.02 Feb | 1558.95 | 0.76 | 38.54 | 2247000 | BERGEPAINT.21.02 Feb | 722.55 | -1.18 | 25.11 | 3157000 | |
BAJAJFINSV.21.02 Feb | 10020.1 | 0.23 | 31.52 | 544500 | GODREJCP.21.02 Feb | 683.4 | -2.36 | 24.78 | 3983000 | |
HDFCLIFE.21.02 Feb | 705.95 | 2.28 | 30.09 | 6705600 | HDFC.21.02 Feb | 2633 | -1.03 | 24.42 | 15759900 | |
LT.21.02 Feb | 1488.75 | 2.22 | 29.52 | 8898700 | ADANIENT.21.02 Feb | 797.9 | -1.15 | 24.05 | 14020000 | |
Short Covering | Long Unwinding | |||||||||
Stocks | Price | Price% | OI% | OI | Stocks | Price | Price % | OI % | OI | |
NATIONALUM.21.02 Feb | 55.5 | 5.61 | -22.45 | 29648000 | COFORGE.21.02 Feb | 2455.05 | -0.05 | -19.59 | 234000 | |
CUMMINSIND.21.02 Feb | 807.6 | 5.98 | -16.88 | 921600 | AMARAJABAT.21.02 Feb | 882.55 | -1.16 | -15.08 | 1920000 | |
RECLTD.21.02 Feb | 139.85 | 0.07 | -13.63 | 7794000 | TORNTPOWER.21.02 Feb | 371.2 | -2.37 | -13.77 | 2142000 | |
VOLTAS.21.02 Feb | 1013.4 | 2.13 | -13.61 | 1739000 | KOTAKBANK.21.02 Feb | 1878.2 | -3.22 | -12.95 | 8827200 | |
TATACHEM.21.02 Feb | 658.35 | 3.16 | -10.85 | 5372000 | IDFCFIRSTB.21.02 Feb | 61.2 | -0.33 | -9.93 | 72390000 |
Top Delivery Percentage
Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
Sectors | Price | Change % | Quantity | |||||||
Icici Lombard General In | 1499.45 | 2.27 | 859167 | 587156 | 74.56 | Nifty Metal | 3749.55 | 3.89 | 87489 | |
Hindustan Unilever Ltd | 2179.25 | 0.54 | 2062144 | 1684694 | 62.91 | Nifty Realty | 347.45 | 2.7 | 87489 | |
Larsen & Toubro Limited | 1486.3 | 2.35 | 3733776 | 3751191 | 60.82 | Nifty Energy | 18717.5 | 2.08 | 87489 | |
Kotak Mahindra Bank Limi | 1872.95 | -3.93 | 5572402 | 2273518 | 59 | Nifty Auto | 10379.55 | 0.77 | 87489 | |
Indus Towers Limited | 271.65 | 1.99 | 11346327 | 6315458 | 57.45 | Nifty Fmcg | 33025.95 | 0.41 | 87489 | |
Hdfc Ltd. | 2628.6 | -0.88 | 3022925 | 2347706 | 57.39 | Nifty 50 | 14707.8 | 0.22 | 87489 | |
Bharti Airtel Limited | 565.55 | -0.83 | 23326447 | 11347857 | 57.15 | Nifty it | 24807.8 | 0.17 | 87489 | |
Power Grid Corporation o | 226.1 | 0.51 | 10290130 | 8100175 | 55.81 | Nifty Media | 1622.7 | 0.15 | 87489 | |
Icici Bank Ltd. | 616.3 | 1.06 | 23534585 | 15037028 | 55.5 | Nifty Pharma | 12029.5 | -0.02 | 87489 | |
Godrej Cons Products Ltd | 680.1 | -2.77 | 3596099 | 825730 | 53.04 | Nifty Bank | 35116.95 | -0.4 | 87489 |
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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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