2021-01-28-OutlookNIFTY:

Over the weekend, trading in the Singapore Nifty suggested a gap down in our market. Surprisingly, the Nifty opened with very minor losses but the decline quickly picked up steam. Throughout the day, waves of selling came in. The Nifty went through a cycle of consolidation then further breakdown. At the end of trading, the index was below 14000, closing at 13967.50 almost at the low of the day, down by 271.4 points.

The markets are in some kind of a correction. Corrections are usually very difficult to trade. A correction is a down move inside a larger up move. This contraction between the primary uptrend and the secondary downtrend creates a choppy market condition. However, there is a significant event coming in front of us. This is the union budget on Feb 1, Monday. A fresh trend will be available only after the budget.

We had identified a trading range of 14200-14700 with 14200 as a strong support zone. We had a trade set up for today. The trade was to sell below the low of the first 15 minutes if the Nifty is below 14200. The first 15 minutes low was 14137.70. Soon the Nifty broke this level where our short position was executed. We had a target of 200 points which was also hit on the same day ass the Nifty continued falling to make its low of 13929.

BANK NIFTY:

Bank Nifty opened at 31236.25 with a gap up of 52 points. The index first moved down, filled the gap completely and recorded its intraday low at 30165.55. The index moved one side downward during the day and closed at 30284 down almost 900 points. PSU and Private Banks both have declined and closed lower. Within the index, in terms of points Axis Bank contributed highest while IDFC First Bank the lowest.

Bank Nifty ended  the day just 130 points above the low. The mild gap up opening did not sustain. A short term support is visible around 29500.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
ITC 210.65 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 205 and for the target 219.
UBL 1301.30 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 1280 and for the target 1330.

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
SBILIFE 880 CE BUY 7.85 CMP 4 14 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
CIPLA.21.01 Jan 840.05 0.23 23.4 11737700 HDFC.21.01 Jan 2477.65 -3.2 29 14981100
TECHM.21.01 Jan 997 2.33 22.33 10089600 INDIGO.21.01 Jan 1575.3 -1.01 26.49 2478000
MARICO.21.01 Jan 414.25 0.79 16.07 7078000 TITAN.21.01 Jan 1440.05 -4.04 26.32 4906500
MCDOWELL-N.21.01 Jan 647.7 1.94 12.91 6416250 ICICIBANK.21.01 Jan 524.45 -2.58 22.96 54324875
CONCOR.21.01 Jan 431.75 2.57 8.08 5417358 INDUSINDBK.21.01 Jan 817.05 -4.04 22.93 8853300
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
WIPRO.21.01 Jan 445.25 1.86 -34.63 9702400 AMARAJABAT.21.01 Jan 951 -2.02 -53.63 473000
COFORGE.21.01 Jan 2428.25 1.27 -18.54 406875 L&TFH.21.01 Jan 87.3 -1.47 -40.25 10387536
CUMMINSIND.21.01 Jan 620.6 1.67 -15.41 902400 RECLTD.21.01 Jan 136.2 -1.48 -36.67 5430000
ITC.21.01 Jan 210.8 1.15 -8.91 59808000 RBLBANK.21.01 Jan 218.65 -1.66 -31.14 10605300
NATIONALUM.21.01 Jan 47.35 2.27 -7.9 42041000 BANDHANBNK.21.01 Jan 305.5 -1.64 -25.91 10161000

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Hdfc Ltd. 2467 -3.31 4858346 5387037 69.41 Nifty Fmcg 34281.4 0.3 80118
Infosys Limited 1301 -1.82 8133665 3814914 58.31 Nifty Media 1669.75 -0.61 80118
Hdfc Bank Ltd. 1409.6 -3.64 11778138 5723754 56.27 Nifty it 25865.3 -0.61 80118
Tata Consultancy Serv Lt 3261.05 -0.92 2786662 1208668 53.18 Nifty Energy 16482.9 -1.73 80118
Icici Lombard General In 1378.8 -4.13 1539581 313984 51.23 Nifty 50 13967.5 -1.91 80118
Torrent Pharma Ltd. 2648.15 0.49 443542 190158 50.05 Nifty Pharma 12495.9 -2.04 80118
Aarti Industries Ltd. 1131.1 -1.24 345588 95034 49.26 Nifty Auto 10210.25 -2.14 80118
Britannia Ind Ltd. 3610.75 -0.08 646880 228508 48.89 Nifty Realty 311 -2.17 80118
Icici Bank Ltd. 522.35 -2.92 28049286 11414356 48.75 Nifty Metal 3154.8 -2.52 80118
Icici Prudential Life In 499.05 -0.57 2814565 1210917 48.53 Nifty Bank 30284.55 -2.93 80118

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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 : GDP (QoQ) (Q4) on 28th January, 2021

•USD : Fed Interest Rate Decision on 28th January, 2021

NEWS UPDATES

•Reliance Group has signed a USD 15 million deal with Israeli company Breath of Health (BOH) to distribute the company’s swift COVID-19 breath testing system throughout India, a media report here said. According to the agreement, the Indian corporate giant will purchase hundreds of systems from the Israeli company in a deal valued at USD 15 million and will use them to conduct millions of tests a month at a cost of USD 10 million per month, business portal Calcalist reported.

•Maruti Suzuki is expected to post a healthy set of numbers for the December quarter of FY21 (Q3FY21), which is scheduled to be released on Thursday. Analysts are building up to 30 per cent year-on-year (YoY) growth in the company’s bottom-line while revenue is seen growing in early teens, on account of strong volume during the quarter.

•The appointments committee (ACC) of cabinet January 27 cleared the names of two officials—Swaminathan Janakiraman and Ashwini Kumar Tewari as new managing directors of State Bank of India (SBI).Both are currently serving as Deputy Managing Directors (DMD) of the bank. The appointments are for a period of three years.

•ICICI Securities Ltd.’s stock fell after the brokerage reported a drop in market share in the quarter ended December. The company’s market share fell from 8.9% in the quarter ended September to 6.5%, which, according to CLSA, was because of a drop in the derivatives segment share. “The new margin norms, effective December 2020, have impacted intra-day volumes for ICICI Securities more than otherplayers, given the higher leverage it offered.

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
3IINFOTECH Quarterly Results 28-Jan-21 LAURUSLABS Interim Dividend;Quarterly Results 28-Jan-21
AARTIIND Audited Results;Quarterly Results 28-Jan-21 LUPIN General;Quarterly Results 28-Jan-21
ALEMBICLTD Quarterly Results 28-Jan-21 M&MFIN Quarterly Results 28-Jan-21
ANGELBRKG General;Quarterly Results 28-Jan-21 MARUTI Quarterly Results 28-Jan-21
AUBANK Quarterly Results 28-Jan-21 NELCO Quarterly Results 28-Jan-21
BEL Interim Dividend;Quarterly Results 28-Jan-21 PERSISTENT Interim Dividend;Quarterly Results 28-Jan-21
BLUEDART Quarterly Results 28-Jan-21 PIDILITIND Quarterly Results 28-Jan-21
COLPAL Quarterly Results 28-Jan-21 RADICO Quarterly Results 28-Jan-21
CUMMINSIND Interim Dividend;Quarterly Results 28-Jan-21 RBLBANK Quarterly Results 28-Jan-21
DBCORP Quarterly Results 28-Jan-21 ROUTE Quarterly Results 28-Jan-21
ENGINERSIN Quarterly Results 28-Jan-21 SRTRANSFIN General;Quarterly Results 28-Jan-21
ERIS Quarterly Results 28-Jan-21 SUDARSCHEM Quarterly Results 28-Jan-21
GRANULES Interim Dividend;Quarterly Results 28-Jan-21 SUVEN Quarterly Results 28-Jan-21
IDBI Quarterly Results 28-Jan-21 TATACHEM Quarterly Results 28-Jan-21
INDIGO Quarterly Results 28-Jan-21 TVSMOTOR Interim Dividend;Quarterly Results 28-Jan-21
IRCTC Quarterly Results 28-Jan-21 UBL Quarterly Results 28-Jan-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
GMM 28-Jan-21 Interim Dividend – Rs. – 1.00 ZENSARTECH 29-Jan-21 Interim Dividend – Rs. – 1.20
HAVELLS 28-Jan-21 Interim Dividend – Rs. – 3.00 PHILIPCARB 01-Feb-21 Interim Dividend – Rs. – 7.00
IEX 28-Jan-21 Interim Dividend – Rs. – 2.50 SYMPHONY 01-Feb-21 Interim Dividend – Rs. – 1.00
PARABDRUGS 28-Jan-21 Resolution Plan -Suspension KAJARIACER 02-Feb-21 Interim Dividend – Rs. – 10.00
SHREERAMA 28-Jan-21 E.G.M. SAGCEM 02-Feb-21 Interim Dividend – Rs. – 2.00
SRF 29-Jan-21 Interim Dividend – Rs. – 19.00 SUNDARMFIN 02-Feb-21 Interim Dividend – Rs. – 12.00


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