2021-01-27-OutlookNIFTY:

The Nifty opened at 14477.80 with a big gap up of 106 points. The index first moved down more than 200 points within the first 45 minutes of trading and filled the gap completely. Prices then traded volatile and range bound till afternoon. Around 1:30 PM, prices saw another downfall of more than 150 points and finally closed at 14238.90 down by 133 points. The Pharma sector has outperformed and closed higher by 1.71% while the IT sectors have underperformed and closed lower by 1.77%. Banks have closed without much change. It was another trend day on the downside where the opening tick was near the intraday high and the closing tick near the intraday low. The market witnessed yet another day where bears were able to take the charge completely despite the positive opening. Index heavyweight Reliance closed lower by almost 6%. The Nifty continued to trade volatile for the third continuous day and moved down by more than 500 points from its lifetime high around 14750. The index come close to its support around 14200.A breakdown and close below this support may suggest a deeper correction. Traders can look to short the index below 14200. Incase of a gap down sell short below the first15 minutes low. Keep a stop of 75 points and target of 200 points.

BANK NIFTY:

Bank Nifty opened at 31507.15 with a gap up of 330 points. The index first moved down, filled the gap completely and recorded its intraday low at 31013.65. After that prices have seen a sharp rally and recorded its intraday high at 31697.55. The index spent rest of the trading volatile within these levels and finally closed at 31198 without much change. PSU Banks have led the decline and closed lower by 0.74% while Private Banks also closed lower by just 0.12%. Within the index in terms of points, HDFC Bank contributed highest while Kotak Bank the lowest.

A short term support is visible around 31000. Prices are trading near the support. A break of this support could lead to a deeper correction.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
SUNPHARMA 586.4 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 573 and for the target 605.
AARTI DRUGS 718 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 700 and for the target 745.

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
TVSMOTOR 540 CE BUY 11.5 9.2 7 14 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
BAJAJFINSV.21.01 Jan 9185.85 1.35 27.33 679000 TATAPOWER.21.01 Jan 79.35 -0.25 33.62 90463500
AXISBANK.21.01 Jan 658.6 1.9 18.15 45686400 EICHERMOT.21.01 Jan 2895.15 -2.54 28.32 2310350
UPL.21.01 Jan 589.45 3.62 15.31 11076000 DABUR.21.01 Jan 534.1 -0.05 25.41 14962500
BAJAJ-AUTO.21.01 Jan 4160.2 1.81 12.15 1830000 FEDERALBNK.21.01 Jan 71.1 -3.13 23.45 96640000
FINNIFTY.21.01 Jan 15169.9 0.15 11.84 53640 ADANIENT.21.01 Jan 515.65 -2.22 21.53 15984000
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
BANKBARODA.21.01 Jan 73.95 0.75 -18.33 37849500 TORNTPOWER.21.01 Jan 315 -1.55 -22.97 3189000
M&MFIN.21.01 Jan 177.9 2.27 -15.44 9684000 GODREJPROP.21.01 Jan 1326 -2.08 -17.2 1057550
CADILAHC.21.01 Jan 469.9 1.78 -14.3 7594400 RECLTD.21.01 Jan 137.65 -1.75 -16.73 9852000
SIEMENS.21.01 Jan 1663.2 0.11 -13.19 622600 BHEL.21.01 Jan 36.15 -4.24 -15.42 69573000
CANBK.21.01 Jan 133.7 0.3 -9.73 33868800 ULTRACEMCO.21.01 Jan 5369.3 -3.56 -15.41 1336000

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Lalpathlab 2282.85 -0.69 108971 145698 72.83 Nifty Pharma 12756.75 1.71 81561
Icici Lombard General In 1438.25 -0.05 612863 666988 70.46 Nifty Metal 3236.35 0.15 81561
Container Corp Of India 421.25 -1.73 2142180 1738785 64.52 Nifty Bank 31198.4 0.1 81561
Power Grid Corporation o 190.2 -2.06 5283901 6053966 64.37 Nifty Media 1680.05 -0.6 81561
Aarti Industries Ltd. 1145.3 0.18 192923 281446 62.85 Nifty Fmcg 34178.6 -0.73 81561
Infosys Limited 1325.1 -1.17 6542611 5913234 61.3 Nifty Auto 10433.5 -0.78 81561
Hdfc Ltd. 2551.4 -1.47 7761405 3009692 60.03 Nifty Realty 317.9 -0.78 81561
Hindustan Unilever Ltd 2399.6 -0.4 2124424 1454715 57.09 Nifty 50 14238.9 -0.93 81561
Larsen & Toubro Limited 1361.3 -0.06 4847989 1744814 53.15 Nifty it 26023.3 -1.76 81561
Icici Bank Ltd. 538.05 0.8 23415249 12680501 51.72 Nifty Energy 16772.3 -2.82 81561

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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

•Shares of Aurobindo Pharma Ltd. jumped to a record high after the drugmaker received approval for three fermentation-based products under India’s incentive programme to set up local manufacturing. The Hyderabad-based drugmaker has received approval for Penicillin G, 7-ACA and Erythromycin Thiocyanate, involving a committed investment of Rs 1,392 crore, Rs 813 crore and Rs 834 crore, respectively.

•Kotak Mahindra Bank Ltd.’s third-quarter profit rose as its core income grew. Kotak Mahindra Bank Ltd.’s profit rose 16% over a year earlier to Rs 1,853 crore in the three months ended December, according to its filing. Analysts polled by Bloomberg had expected a profit of Rs 1,701 crore. Net interest income, or core income, rose 16.8% year-on-year to Rs 4,007 crore against the estimated Rs 3,497 crore. The bank’s gross non-performing asset ratio stood at 2.26% as of December compared with 2.55% in the September quarter.

•Process equipment maker GMM Pfaudler is weighing more acquisition and expansion opportunities even as it completes the purchase of its overseas parent, the Pfaudler Group. The acquisition of the parent will also give GMM Pfaudler entry into multiple new markets that it previously couldn’t enter due to non-compete pacts.

•Lupin on Monday said it has received nod from the US health regulator to market its generic Sevelamer Carbonate tablets that are used to control phosphorus in people with chronic kidney disease on dialysis.

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
AXISBANK Quarterly Results 27-Jan-21 JSTL Quarterly Results 27-Jan-21
BANKBARODA Quarterly Results 27-Jan-21 JYOTHYLAB Quarterly Results 27-Jan-21
BHAGIL Quarterly Results 27-Jan-21 MARICO Quarterly Results 27-Jan-21
CANBK Quarterly Results 27-Jan-21 NATIONALUM Buy Back of Shares 27-Jan-21
COSMOFILMS Interim Dividend;Quarterly Results 27-Jan-21 PNBHOUSING General;Quarterly Results 27-Jan-21
EMAMILTD Interim Dividend;Quarterly Results 27-Jan-21 POLYMED General;Quarterly Results 27-Jan-21
GUJARATPOLY Quarterly Results 27-Jan-21 PSPPROJECT General;Quarterly Results 27-Jan-21
HGINFRA Quarterly Results 27-Jan-21 SHREDIGCEM Quarterly Results 27-Jan-21
HINDUNILVR Quarterly Results 27-Jan-21 TATACOFFEE Quarterly Results 27-Jan-21
ICICIPRULI Quarterly Results 27-Jan-21 TITANBIO Quarterly Results 27-Jan-21
INDIACEM Quarterly Results 27-Jan-21 TITANSEC Quarterly Results 27-Jan-21
JAYBARMARU Quarterly Results 27-Jan-21 UNITDSPR Quarterly Results 27-Jan-21
JKPAPER Quarterly Results 27-Jan-21 WELSPUNIND Quarterly Results 27-Jan-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
DCMSHRIRAM 27-Jan-21 Interim Dividend – Rs. – 5.50 JAIHINDPRO 27-Jan-21 Resolution Plan -Suspension
EMERALD 27-Jan-21 Right Issue of Equity Shares SIEMENS 27-Jan-21 Final Dividend – Rs. – 7.00
GAIL 27-Jan-21 Buy Back of Shares GMM 28-Jan-21 Interim Dividend – Rs. – 1.00
GAIL 27-Jan-21 Interim Dividend – Rs. – 2.50 HAVELLS 28-Jan-21 Interim Dividend – Rs. – 3.00
GARDENSILK 27-Jan-21 Resolution Plan -Suspension IEX 28-Jan-21 Interim Dividend – Rs. – 2.50
INDIGRID 27-Jan-21 Income Distribution (InvIT) SHREERAMA 28-Jan-21 E.G.M.


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