The Nifty opened at 13758.60 with a big gap up of 124 points. Prices have initially gone down and recorded its intraday low at 13661.75 which was almost 100 points lower from the opening tick. However after the first 30 minutes of trading, prices started moving higher and never looked down. The index recorded its intraday high at 14336.35 with the help of a 650+ points rally. The index finally closed at 14281.20 with a gain of 646.60 points. Banks and Financials have led the bulls while Pharma sector has closed with a loss. Markets have welcomed the Union Budget 2021 as it was growth-oriented and it did not give any meaningful negative surprise to the market. The Nifty broke a six day losing streak to rise nearly 5% as traders and investors cheered Budget proposals made by Finance Minster. Except for Pharma all other sectoral indices have closed with gains. The SBI, Bajajfinsv, ICICI Bank and Indusind Bank have closed with a gain of more than 10%. The Nifty recovered from the losses that came in the last three trading days. The last few days were very volatile, and the intraday range was also very large. This is called a phase of expansion. After expansion comes contraction. We may see a process of consolidation ahead. Prices have resumed its uptrend and are now heading towards its lifetime high. Strong resistance is visible around 14600-14700 zones.
Bank Nifty opened at 30976.35 with a gap up of 364 points. The index recorded its intraday low at 30906.45 and traded sideways for the first one hour. Prices have begun a sharp upside move around 1:00 PM and continued for the rest of the day. The index finally closed at 33089.10 with a gain of 2657 points. PSU and Private Banks both have performed well and closed higher by 7.83% and 8.06% respectively. Within the index, in terms of points ICICI Bank contributed highest while IDFC First the lowest.
Bank Nifty ended with a gain of more than 8% due to the Union Budget. The government announced it was set an ARC to house stressed assets.
That apart, government would infuse Rs 20000 crore to Public Banks.
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|TATASTEEL||636.10||BUY||The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 626 and for the target 650.|
|KOTAKBANK||1801.5||BUY||The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 1780 and for the target 1840.|
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|STOCK OPTION||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|DIVISLAB||3450 CE||BUY||210||CMP||175||280||OI increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|FINNIFTYW.21.02 Feb||15785||7.91||138.55||15840||IDFCFIRSTB.21.02 Feb||46.15||-1.49||18.83||172406000|
|INDUSINDBK.21.02 Feb||982.05||15.47||42.4||24186600||CIPLA.21.02 Feb||808||-2.79||15||20352800|
|SAIL.21.02 Feb||63.1||9.55||38.75||129865000||UPL.21.02 Feb||538.6||-4.44||12.33||16918200|
|ICICIPRULI.21.02 Feb||491||1.56||29.26||6268500||MCDOWELL-N.21.02 Feb||578||-0.46||11.21||11951250|
|PAGEIND.21.02 Feb||28198.2||3.29||26.08||77880||DRREDDY.21.02 Feb||4461.75||-3.45||11.09||3148500|
|Short Covering||Long Unwinding|
|Stocks||Price||Price%||OI%||OI||Stocks||Price||Price %||OI %||OI|
|INDUS TOWERS LIMITED.21.||241.8||4.07||-2.85||9531200|
TOP DELIVERY PERCENTAGE
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|Icici Lombard General In||1365.35||3.79||1468725||977604||72.96||Nifty Bank||33089.05||8.26||83769|
|Hdfc Ltd.||2579.25||8.47||7106502||5178831||70.48||Nifty Realty||324.95||6.31||83769|
|Infosys Limited||1260.9||1.76||8880279||8230671||67.56||Nifty Metal||3227.25||4.87||83769|
|Tata Consultancy Serv Lt||3139.35||0.9||3985846||3601765||66.14||Nifty 50||14281.2||4.74||83769|
|Sbi Life Insurance Compa||874.5||1.16||3099408||1495995||65.43||Nifty Auto||10227.95||4.23||83769|
|Hdfc Asset Management Co||2955.9||2.76||449714||220578||63.73||Nifty Media||1706.6||3.42||83769|
|Kotak Mahindra Bank Limi||1801.5||5.17||4829210||3137454||61.03||Nifty Energy||16587.55||2.65||83769|
|Icici Prudential Life In||489.45||1.76||6411426||1699230||59.36||Nifty Fmcg||33689.65||1.72||83769|
|Power Grid Corporation o||188.9||2.41||5335449||4341824||57.54||Nifty it||24922.7||1.12||83769|
|Hdfc Life Insurance Comp||699.05||3.11||8383807||2617652||56.92||Nifty Pharma||12103.55||-0.55||83769|
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UPCOMING ECONOMIC DATA
|INR: Nikkei Markit manufacturing PMI on 3rd February, 2021
INR: Nikkei Services PMI on 3rd february, 2021
|•USD : Crude Oil inventories on 3rd February, 2021
•USD : ISM non manufacturing PMI on 3rd February, 2021
| BUDGET HIGHLIGHTS:
•Long, slow fiscal glide path: deficit to reduce from 9.5% in FY21 to 4.5% by FY26
•137% increase in health spend.
•Big infra push via 34.5% higher capital budget at Rs 5.54 lakh crore; infra monetisation via InVITs.
•Gross expenditure up 13% at Rs 35 lakh crore for FY21; same expenditure number for FY22.
•7 mega textile parks to be set up over three years; FDI in insurance raised from 49% to 74%.
• Divestment target at Rs 1.75 lakh crore: 2 PSU banks + one general insurance company + LIC IPO + Air India + BPCL + SPV for PSU land sale..
Source: Economic Times, Moneycontrol ,Business Today, Livemint, Business Standard, Bloomberg Quint
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|AJANTPHARM||Quarterly Results||02-Feb-21||IONEXCHANG||Quarterly Results||02-Feb-21|
|ALKYLAMINE||Interim Dividend;Quarterly Results;Stock Split||02-Feb-21||KDML||General||02-Feb-21|
|CERA||Quarterly Results||02-Feb-21||MKTCREAT||Quarterly Results||02-Feb-21|
|DHANUKA||Quarterly Results||02-Feb-21||MTEDUCARE||Quarterly Results;General||02-Feb-21|
|DIXON||Quarterly Results;Stock Split||02-Feb-21||NAGPI||Quarterly Results;General||02-Feb-21|
|ESCORTS||Quarterly Results;General||02-Feb-21||NEULANDLAB||Quarterly Results||02-Feb-21|
|HDFC||Quarterly Results||02-Feb-21||NOCIL||Quarterly Results||02-Feb-21|
|TATACONSUM||Quarterly Results||02-Feb-21||ORBTEXP||Quarterly Results||02-Feb-21|
|TATAINVEST||Quarterly Results||02-Feb-21||ORIENTABRA||Quarterly Results||02-Feb-21|
|WONDERLA||Quarterly Results||02-Feb-21||PATINTLOG||Right Issue of Equity Shares;General||02-Feb-21|
|Company Name||Ex-Date||Purpose||Company Name||Ex-Date||Purpose|
|Symphony Limited||01-Feb-21||Interim Dividend – Rs. – 1.0000||STEEL AUTHORITY OF INDIA LTD.||04-Feb-21||Interim Dividend – Rs. – 1.0000|
|KAJARIA CERAMICS LTD.||02-Feb-21||Interim Dividend – Rs. – 10.0000||TVS MOTOR COMPANY LTD.||04-Feb-21||Interim Dividend – Rs. – 2.1000|
|EMAMI LTD.-$||04-Feb-21||Interim Dividend – Rs. – 4.0000||Indus Towers Ltd||08-Feb-21||Interim Dividend – Rs. – 17.8200|
|EXIDE INDUSTRIES LTD.||04-Feb-21||Interim Dividend – Rs. – 2.0000||Laurus Labs Ltd||08-Feb-21||Interim Dividend – Rs. – 0.4000|
|IIFL Finance Ltd||04-Feb-21||Interim Dividend – Rs. – 3.0000||LT FOODS LTD.||09-Feb-21||Interim Dividend – Rs. – 0.5000|
|JUBILANT LIFE SCIENCES LIMITED||04-Feb-21||Spin Off||Dr. Lal PathLabs Ltd||09-Feb-21||Interim Dividend – Rs. – 6.0000|
DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014
Elite Wealth Ltd. does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Ltd. may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as read more
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