outlookNIFTY:

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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