NIFTY:

Nifty opened with flattish on Friday but failed to hold above 14,600 level and shrink sharply towards 14,350 zone.

It slips more than 270 points and closed the market deep in the red with around 1.5 per cent loss. Nifty formed a bearish candle on daily and indecisive candle on weekly chart, witnessing selling pressure on higher level.

Nifty now approaching 20 dma with placed around 14300 , so far nifty is sustaining above this level small pullback cannot be ruled out but any suitability below this level could trigger additional deeper correction towards 14100.

As we approach the Budget, the volatility is likely to increase over in the coming days. Nifty is likely to face resistance at 14450 and 14,530 levels in the coming week, while supports will come in at 14,280 and 14100 levels. The trading range is expected to remain wider in the coming week as well.

Traders should used very cautious approach at current level while all trend is up so look for buy on dips

BANK NIFTY:

Bank Nifty opened at 32088 . The index initially went on the downside and recorded its intraday low at 31119.90. It was a trend day on the downside. The index finally closed at 31167.25.  PSU Banks and Private banks both have closed in the red. Within the index, in terms of points, ICICI Bank contributed highest while HDFC Bank the lowest. The index broke down from its support of 31700. We may see a further move down towards the next support of 30800.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
AUROPHARMA 923.8 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 902 and for the target 960
HCLTECH 985.8 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 974 and for the target 1005

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
RELIANCE 2040 CE BUY 49.8 CMP 35 75 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
BAJAJ-AUTO.21.01 Jan 4103 10.37 38.08 2313250 FINNIFTY.21.01 Jan 15134.4 -2.53 390.16 47840
TCS.21.01 Jan 3296.85 0.41 22.66 5676300 INDUSINDBK.21.01 Jan 889.8 -3.73 32.09 14281200
ULTRACEMCO.21.01 Jan 5590 0.65 19.98 1729400 LT.21.01 Jan 1366.1 -0.66 23.44 15817100
WIPRO.21.01 Jan 443.35 0.06 13.71 34947200 RBLBANK.21.01 Jan 232 -7.33 16.7 24058400
EICHERMOT.21.01 Jan 2982.2 1.95 13.33 2458050 BIOCON.21.01 Jan 394.4 -11.1 12.74 12394700
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
APOLLOHOSP.21.01 Jan 2606.9 0.54 -5.64 1430000 GRASIM.21.01 Jan 1003.55 -1.5 -27.48 5757000
MRF.21.01 Jan 92585.05 0.62 -4.07 55610 SAIL.21.01 Jan 58.25 -10.59 -10.26 106571000
HDFCAMC.21.01 Jan 3103 0.26 -2.89 382800 JSWSTEEL.21.01 Jan 377.6 -4.17 -10.1 29810700
SUNTV.21.01 Jan 506.15 0.91 -2.86 9511500 ADANIPORTS.21.01 Jan 536.2 -2.1 -8.33 37942500
NAUKRI.21.01 Jan 5355.05 2.72 -0.44 854500 IDEA.21.01 Jan 12.65 -2.32 -7.28 714210000

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Kotak Mahindra Bank Limi 1828 -1.6 4298175 3693211 65.15 Nifty Auto 10515.85 1.43 83277
Aarti Industries Ltd. 1143.25 -3.43 447812 348334 64.23 Nifty it 26489.75 0.15 83277
Godrej Cons Products Ltd 790.05 -0.93 1548303 1352646 62.74 Nifty Fmcg 34430.3 -0.19 83277
Lalpathlab 2298.7 0.08 200064 196656 62.61 Nifty Pharma 12542.1 -1.22 83277
Icici Lombard General In 1438.95 -1.63 946642 536653 61.93 Nifty 50 14371.9 -1.5 83277
Sbi Life Insurance Compa 862.55 -1.79 3421388 1071071 55.97 Nifty Media 1690.15 -1.65 83277
Hdfc Bank Ltd. 1443.55 -2.12 7696182 7307429 55.5 Nifty Energy 17259.8 -1.73 83277
Hdfc Ltd. 2589.45 -2.76 5013872 1753076 54.78 Nifty Realty 320.4 -2.84 83277
Larsen & Toubro Limited 1362.1 -0.67 3282665 1632398 54.68 Nifty Bank 31167.25 -3.17 83277
Petronet Lng Limited 241.4 -1.81 4289402 2303935 54.54 Nifty Metal 3231.45 -3.89 83277

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UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR:  Federal Fiscal Deficit (Dec) on 29nd January, 2021

INR:  Infrastructure Output (YoY) (Dec) on 29nd January, 2021

•USD : Core Durable Goods Orders (MoM) (Dec) on 27th January, 2021

•USD : Crude Oil Inventories on 27th January, 2021

NEWS UPDATES

•Reliance Industries Ltd.’s quarterly profit rose as demand for its petrochemicals increased and its digital services arm clocked higher sales. The Mukesh Ambani-led conglomerate’s profit rose 12.6% year-on-year to Rs 13,101 crore in the quarter ended December, according to its exchange filing. That compares with the Rs 11,313-crore consensus estimate of analysts tracked by Bloomberg.

•Tata Power Solar Systems Ltd. announced that it has bagged an order worth Rs 1,200 crore from state-run power giant NTPC Ltd. for setting up of 320 megawatt ground mounted solar project. Tata Power Solar, India’s largest integrated solar company and a wholly-owned subsidiary of Tata Power Co., has received a “Letter of Award” to build 320 MW of ground mounted Solar PV project for NTPC, a company.

•Ultratech Cement Ltd.’s third quarter profit more than doubled as pent-up demand aided recovery from the disruption caused by the Covid-19 pandemic. Net profit jumped 122.7% year-on-year to Rs 1,584.3 crore in the three months ended December, the cement maker said in an exchange filing. That compares with the Rs 1,274.7-crore consensus estimate of analysts tracked by Bloomberg. Revenue for the cement maker rose 17.4% over last year to Rs 12,254.12 crore. The cement maker’s operational performance, too, surpassed analyst expectations, helped by lower costs and better revenue.

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

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BOARD MEETING

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
AARTIDRUGS Audited Results;Quarterly Results 25-Jan-21 LT Quarterly Results 25-Jan-21
APLAPOLLO Quarterly Results 25-Jan-21 NAVINFLUOR Quarterly Results 25-Jan-21
ASTEC Quarterly Results 25-Jan-21 RPGLIFE Quarterly Results 25-Jan-21
BENARAS Quarterly Results 25-Jan-21 SHARDACROP General;Quarterly Results 25-Jan-21
CANFINHOME Quarterly Results 25-Jan-21 SHRJAGP Quarterly Results 25-Jan-21
CHENNPETRO Quarterly Results 25-Jan-21 SVGLOBAL Quarterly Results 25-Jan-21
DCW Preferential Issue of shares 25-Jan-21 TGBHOTELS General 25-Jan-21
ISEC Quarterly Results 25-Jan-21 TGVSL General;Quarterly Results 25-Jan-21
KIFS General;Quarterly Results 25-Jan-21 TRIVENIGQ Quarterly Results 25-Jan-21
KIRLFER Quarterly Results 25-Jan-21 UCOBANK Quarterly Results 25-Jan-21
KOTAKBANK Quarterly Results 25-Jan-21 VINYLINDIA Quarterly Results 25-Jan-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
DCMSHRIRAM 27-Jan-21 Interim Dividend – Rs. – 5.5000 JAIHINDPRO 27-Jan-21 Resolution Plan -Suspension
EMERALD 27-Jan-21 Right Issue of Equity Shares SIEMENS 27-Jan-21 Final Dividend – Rs. – 7.0000
GAIL 27-Jan-21 Buy Back of Shares GMM 28-Jan-21 Interim Dividend – Rs. – 1.0000
GAIL 27-Jan-21 Interim Dividend – Rs. – 2.5000 HAVELLS 28-Jan-21 Interim Dividend – Rs. – 3.0000
GARDENSILK 27-Jan-21 Resolution Plan -Suspension IEX 28-Jan-21 Interim Dividend – Rs. – 2.5000
INDIGRID 27-Jan-21 Income Distribution (InvIT) SHREERAMA 28-Jan-21 E.G.M.


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