OutlookNIFTY:

The Nifty opened at 14754.90 with a big gap up of 107 points. Prices have initially gone down, filled the gap up completely, and recorded its intraday low at 14574.15. The index bounced back immediately from its intraday low, rallied almost 300 points intraday, and recorded its intraday high at 14868.85. Prices have seen some correction towards the end of the day’s trading session and finally closed at 14789.95 with a gain of 142.10 points. The FMCG and Realty sectors have underperformed and closed lower while all the other sectoral indices have closed with gains led by Pharma, Banks and Financials. Nifty continued making lifetime new highs and closed higher for the fourth consecutive trading day. The market witness to extend its gain further after opening with a big gap up and a decisive breakout from the 14600-14700 resistance zone. This level should now act as support. The intraday movement continued to be volatile and prices have recorded its lifetime new highs near 14900. The index came closer to another milestone of 15000 levels. A pattern of Doji appeared in the Nifty Index. A Doji after a sharp move generally indicates either a pause or a reversal in the trend. We may see a either a correction or consolidation in Nifty as the index has rallied more than 1200 points in the past three days.

BANK NIFTY:

Bank Nifty opened at 34555.60 with a gap up of 240 points. The index initially went down, filled its up and recorded its intraday low at 34011.90. All this happened within the first five minutes of trading. Prices then moved up and rallied almost 900 points to record its intraday high at 34908.05. The index has seen minor correction in the last 30 minutes and finally closed at 34758.Private and PSU Banks both have performed well and closed higher by 1.70% and 2.61% respectively. Within the index in terms of points, Axis contributed highest while Kotak the lowest.

Bank Nifty continued its rally to record its lifetime new high close to 35000.

The index made a Doji pattern suggesting a correction or consolidation.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
HEROMOTOCO 3380.80 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 3340 and for the target 3450.
PNB 38.35 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 37 and for the target 41

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
INFY 1300 CE BUY 36 CMP 20 60 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
INDUS TOWERS LIMITED.21. 251.55 1.06 30.75 13440000 RAMCOCEM.21.02 Feb 865.6 -1.99 60.44 1992400
VOLTAS.21.02 Feb 1005.6 1.91 29.77 2550000 JUBLFOOD.21.02 Feb 2672 -1.45 20.88 1712500
IOC.21.02 Feb 102.65 3.22 24.87 54691000 AUROPHARMA.21.02 Feb 926 -0.04 13.12 9591400
ICICIPRULI.21.02 Feb 483 1.2 23.1 7672500 DLF.21.02 Feb 290 -2.09 12.12 30864900
AARTIIND.21.02 Feb 1202.95 1.16 22.72 617525 LALPATHLAB.21.02 Feb 2389.6 -2 11 113500
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
RBLBANK.21.02 Feb 256.05 5.67 -7.32 17136100 TATACHEM.21.02 Feb 520.8 -0.44 -2.48 6930000
CUMMINSIND.21.02 Feb 758.95 1.41 -5.68 1335600 BOSCHLTD.21.02 Feb 16585.45 -0.3 -2.14 82350
SAIL.21.02 Feb 62.65 3.81 -4.74 103531000 ADANIENT.21.02 Feb 565.75 -0.26 -0.57 18300000
SUNPHARMA.21.02 Feb 625.4 2.9 -4.47 44529800 GRASIM.21.02 Feb 1183.85 -0.76 -0.42 17473350
TORNTPOWER.21.02 Feb 318.35 2.43 -3.65 4824000 SHREECEM.21.02 Feb 26080 -1.44 -0.3 132850

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Icici Lombard General In 1436.4 3.49 1189638 1120070 63.12 Nifty Pharma 12706.65 2.79 84678
Icici Prudential Life In 478.5 0.74 6378685 3740523 60.25 Nifty Metal 3344.4 1.68 84678
Lalpathlab 2372.55 -2.64 170512 245350 58.55 Nifty Energy 17221.5 1.6 84678
Britannia Ind Ltd. 3516.5 0.44 786972 507327 58.32 Nifty Bank 34758.45 1.43 84678
Hindustan Unilever Ltd 2232.85 0.11 2353429 2451371 58.15 Nifty Auto 10749.15 1.04 84678
Nestleind 17166.4 -0.14 112325 75065 57.61 Nifty 50 14789.95 0.97 84678
Torrent Pharma Ltd. 2677.05 4.1 715059 321589 57.29 Nifty it 25680.9 0.92 84678
Indus Towers Limited 248.1 0.28 6953619 4459886 57.24 Nifty Media 1765.15 0.15 84678
Aarti Industries Ltd. 1188.1 0.55 701852 173309 56.64 Nifty Fmcg 33682.35 -0.14 84678
Kotak Mahindra Bank Limi 1852.2 -0.49 4289395 3235423 55.11 Nifty Realty 335.8 -0.43 84678

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UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: Interest Rate Decision on 5th  February, 2021

INR: FX Reserves, USD on 5th February, 2021

•USD : Initial Jobless Claims on 4th February, 2021

•USD : Nonfarm Payrolls (Jan) on 5th February, 2021

NEWS UPDATES

•The Reserve Bank of India (RBI) on Wednesday unveiled the risk-based internal audit (RBIA) system for select non-bank lenders and urban co-operative banks, with a view to enhance the quality and effectiveness of their internal audit system. All the deposit-taking non-banking financial companies (NBFCs) and the ones with an asset size of over ₹5,000 crore, and urban co-operatives banks (UCBs) with assets of over ₹500 crore will have to migrate to the new system, the RBI said.

•Jubilant FoodWorks, which operates Domino ‘s Pizza and Dunkin” Donuts chains in India, on Wednesday reported a 21.71 per cent increase in consolidated profit at Rs 123.91 crore in the third quarter ended December 2020. Revenue from operations during the quarter under review stood at Rs 1,069.27 crore as compared to Rs 1,071.36 crore in the same period of the last financial year, a decline of 0.19 per cent, it added.

•Ramco Cements has reported a 112.39 per cent increase in net profit to Rs 201.35 crore during the third quarter ended December 31, 2020, from Rs 94.8 crore in the corresponding quarter a year ago. The firm’s total revenue rose to Rs 1,345.42 crore from Rs 1,286.43 crore, a year ago, an increase of around five per cent.

•CIL on Wednesday said it has entered into a pact worth Rs 2,900 crore with a Belarus-based mining equipment manufacturer for purchase of dumpers. The pact is for purchase of 96 dumpers of 240 tonne capacity each, Coal India Ltd (CIL) said in a statement.

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
ADANIPOWER Quarterly Results 04-Feb-21 ICRA Quarterly Results 04-Feb-21
ADANITRANS Quarterly Results 04-Feb-21 IPCALAB Quarterly Results 04-Feb-21
ARVIND Quarterly Results 04-Feb-21 JUBLINDS Quarterly Results 04-Feb-21
AVANTI Quarterly Results 04-Feb-21 MATRIMONY Quarterly Results 04-Feb-21
BAJAJELEC Quarterly Results 04-Feb-21 MINDAIND Quarterly Results 04-Feb-21
CHAMBLFERT Quarterly Results 04-Feb-21 MUNJALSHOW Quarterly Results 04-Feb-21
CONCOR Quarterly Results;General 04-Feb-21 NTPC Interim Dividend;Quarterly Results 04-Feb-21
DALBHARAT Quarterly Results 04-Feb-21 RECLTD Quarterly Results 04-Feb-21
FDC Quarterly Results 04-Feb-21 SBIN Quarterly Results 04-Feb-21
GILLETTE Interim Dividend;Quarterly Results 04-Feb-21 SOMANYCERA Quarterly Results 04-Feb-21
GNFC Quarterly Results;General 04-Feb-21 SUNDRMFAST Quarterly Results 04-Feb-21
GODFRYPHLP Quarterly Results 04-Feb-21 SUZLON Quarterly Results 04-Feb-21
GODREJPROP Quarterly Results;General 04-Feb-21 TATAPOWER Quarterly Results;General 04-Feb-21
HEROMOTOCO Interim Dividend;Quarterly Results 04-Feb-21 TRENT Quarterly Results;General 04-Feb-21
HIKAL Interim Dividend;Quarterly Results 04-Feb-21 WHIRLPOOL Quarterly Results 04-Feb-21
HINDPETRO* Quarterly Results 04-Feb-21 ZEEL Quarterly Results 04-Feb-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
AKCAPIT 04-Feb-21 Interim Dividend – Rs. – 5.00 NEAGI 04-Feb-21 Buy Back of Shares
EMAMILTD 04-Feb-21 Interim Dividend – Rs. – 4.00 NGIL 04-Feb-21 E.G.M.
EXIDEIND 04-Feb-21 Interim Dividend – Rs. – 2.00 RISAINTL 04-Feb-21 Annual Book Closure
GPIL 04-Feb-21 Interim Dividend – Rs. – 5.00 SAIL 04-Feb-21 Interim Dividend – Rs. – 1.00
IIFL 04-Feb-21 Interim Dividend – Rs. – 3.00 SUNCLAYLTD 04-Feb-21 Interim Dividend – Rs. – 15.00
JUBILANT 04-Feb-21 Spin Off TVSMOTOR 04-Feb-21 Interim Dividend – Rs. – 2.10

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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