2021-01-29-OutlookNIFTY:

Due to the fall in the US markets overnight, we expected a gap down opening. The Nifty opened with 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 made its low at 13713 and then we saw some kind of pullback in the markets with the index closing just above 13800.

As we approach the Budget, the volatility is likely to increase over in the coming days. Nifty is likely to face.

resistance at 14100 and 14350 levels in the coming week, while supports will come in at 13600 and 13700 levels. The trading range is expected to remain wider in the coming week as well.

The Nifty ended the day with a bullish doji candle on the daily chart. If there is any pull back in the market, we could see a move until 14100 with the immediate support being at 13700.

We can see immense volatility in the market due to the upcoming budget and on going results session. Traders should be cautious at these levels.

BANK NIFTY:

Bank Nifty opened at 29812 with a gap down. The index traded sideways initially and recorded its intraday low at 29687. The index then started moving up and outperformed the Nifty. PSU Banks closed in the green while Private Banks closed down. Within the index, in terms of points Axis Bank contributed highest while Bank Baroda the lowest.

Bank Nifty closed at 30358 up by almost 100 points. The index has a good support around 29500.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
HINDPETRO 221.50 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 216 and for the target 229
SBIN 282.35 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 276 and for the target 292.

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
ICICIBANK 520CE BUY 30.10 CMP 26 38 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
AXISBANK.21.01 Jan 665 4.86 47.98 28762800 HDFC.21.01 Jan 2434.6 -1.61 55.06 8390700
TORNTPHARM.21.01 Jan 2658.65 0.71 23.04 247000 HINDUNILVR.21.01 Jan 2301 -3.81 51.72 2850600
BAJAJ-AUTO.21.01 Jan 4146.75 0.18 21.41 693250 MARUTI.21.01 Jan 7585.3 -3.74 49.88 1153800
NTPC.21.01 Jan 91.7 0.49 20.97 46854000 AMBUJACEM.21.01 Jan 247.9 -2 45.27 7422000
PIDILITIND.21.01 Jan 1717 0.06 16.38 1055000 MOTHERSUMI.21.01 Jan 148.4 -1.88 37.18 11802000
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
AARTIIND.21.01 Jan 1141.2 1.09 -68.99 54825 GMRINFRA.21.01 Jan 24.85 -1.97 -62.12 9990000
BATAINDIA.21.01 Jan 1517.25 0.23 -40.3 194700 MINDTREE.21.01 Jan 1668 -2.19 -61.71 189600
HDFCAMC.21.01 Jan 2930 0.55 -31.26 75200 IDFCFIRSTB.21.01 Jan 47.55 -0.31 -55.61 13528000
DLF.21.01 Jan 262.1 1.02 -30.03 5537400 AMARAJABAT.21.01 Jan 951.4 -0.23 -47.96 217000
APOLLOTYRE.21.01 Jan 204.1 1.01 -28.47 3680000 WIPRO.21.01 Jan 431.4 -3.2 -44.92 3280000

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Torrent Pharma Ltd. 2663.85 0.59 274398 293128 66.09 Nifty Bank 30358.3 0.24 83436
Aarti Industries Ltd. 1139.25 0.72 404772 224221 64.88 Nifty Media 1668.65 -0.07 83436
Kotak Mahindra Bank Limi 1722.85 -2.37 6035924 4855035 61.52 Nifty Energy 16459.75 -0.14 83436
Hdfc Ltd. 2425.75 -1.67 5282970 2961607 60.96 Nifty Metal 3138.1 -0.53 83436
Icici Lombard General In 1371.25 -0.55 896401 927673 60.25 Nifty Pharma 12395.95 -0.8 83436
Power Grid Corporation o 187.3 -2.63 9040763 6349889 59.81 Nifty Auto 10105.6 -1.02 83436
Infosys Limited 1276.2 -1.91 4660690 4665656 57.36 Nifty 50 13817.55 -1.07 83436
Icici Bank Ltd. 528.25 1.13 29836591 15695957 55.96 Nifty Fmcg 33625.85 -1.91 83436
Petronet Lng Limited 242.45 1.96 4744055 3108766 55.74 Nifty it 25301.25 -2.18 83436
Hdfc Bank Ltd. 1371.45 -2.71 21352223 6565369 55.74 Nifty Realty 304.15 -2.2 83436

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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 : Pending Home Sales(MoM) Dec on 28th January, 2021

•USD : Personal Spending (MoM) Dec on 28th January, 2021

NEWS UPDATES

•Tata Motors announced the first anniversary of its electric SUV the Tata NexonEV. In terms of the current market of electric vehicles in India, the company claims that it commands a market share of 64% (YTD FY21). Tata Motors has managed to sell around 3000 units of the EV.

•Tata Power Solar has received a letter of award (LoA) to build 95 megawatt (MW) of solar photovoltaic project worth about Rs 460 crore for Gujarat State Electricity Corporation Ltd (GSECL). The commercial operation date for this project is set for April 2022. With this addition, the order pipeline of Tata Power Solar Systems Ltd (TPSSL) stands at about 4.2 gigawatt peak (GWp) with a value of about Rs 12,500 crore, thereby cementing its position as India’s leading solar EPC player for seventh year in a row among utility scale.

•Grinntech, an investor-backed start-up specialising in Lithium-Ion batteries for EVs and energy storage systems, today announced the inauguration of its larger manufacturing plant in Chennai. V Sumantran, former Vice-Chairman of Ashok Leyland and Lakshmi Narayanan, Co-Founder and former Vice-Chairman of Cognizant are among the investors in thr company. They are also Directors of Grinntech.

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
BAJAJHCARE Quarterly Results 29-Jan-21 TECHM Quarterly Results 29-Jan-21
CIPLA Quarterly Results 29-Jan-21 UNIONBANK Quarterly Results 29-Jan-21
DAAWAT Interim Dividend;Quarterly Results 29-Jan-21 UPL Quarterly Results 29-Jan-21
DABUR Quarterly Results 29-Jan-21 WOCKPHARMA Quarterly Results 29-Jan-21
DISHTV Quarterly Results 29-Jan-21 BHARAT Quarterly Results 29-Jan-21
DRREDDY Quarterly Results 29-Jan-21 COMPUSOFT General;Quarterly Results 29-Jan-21
EXIDEIND Interim Dividend;Quarterly Results 29-Jan-21 DHPIND General;Quarterly Results 29-Jan-21
INDUSINDBK Quarterly Results 29-Jan-21 DLF Quarterly Results 29-Jan-21
IOC Interim Dividend;Quarterly Results 29-Jan-21 GRINDWELL Quarterly Results 29-Jan-21
JKLAKSHMI Quarterly Results 29-Jan-21 HERITGFOOD Quarterly Results 29-Jan-21
JSWENERGY General;Quarterly Results 29-Jan-21 IIFL Interim Dividend;Quarterly Results 29-Jan-21
JUSTDIAL General;Quarterly Results 29-Jan-21 LICHSGFIN General;Quarterly Results 29-Jan-21
LALPATHLAB Interim Dividend;Quarterly Results 29-Jan-21 SHANKARA Quarterly Results 29-Jan-21
SUNPHARMA Quarterly Results 29-Jan-21 SHRIRAMCIT Interim Dividend;General;Quarterly Results 29-Jan-21
TATAMOTORS Quarterly Results 29-Jan-21 SOLARINDS Quarterly Results 29-Jan-21
TATAMTRDVR Quarterly Results 29-Jan-21 STEELCAS Quarterly Results 29-Jan-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
SRF 29-Jan-21 Interim Dividend – Rs. – 19.0000 BELLACASA 03-Feb-21 Interim Dividend – Rs. – 0.6000
ZENSARTECH 29-Jan-21 Interim Dividend – Rs. – 1.2000 KKCL 03-Feb-21 Interim Dividend – Rs. – 8.0000
PHILIPCARB 01-Feb-21 Interim Dividend – Rs. – 7.0000 KNRCON 03-Feb-21 Bonus issue 1:1
SYMPHONY 01-Feb-21 Interim Dividend – Rs. – 1.0000 MENONBE 03-Feb-21 Interim Dividend – Rs. – 1.5000
KAJARIACER 02-Feb-21 Interim Dividend – Rs. – 10.0000 WENDT 03-Feb-21 Interim Dividend – Rs. – 10.0000
SAGCEM 02-Feb-21 Interim Dividend – Rs. – 2.0000 AKCAPIT 04-Feb-21 Interim Dividend – Rs. – 5.0000


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