NIFTY:
NIFTY opened at 17315.25 with a gap up of 139 points. The index recorded its intraday low at 17308.95 within the first few minutes of trading and then rallied higher. The rally paused at 10:00 AM and then started a process of consolidation that lasted till the afternoon. Eventually, prices broke out and rallied again. The index recorded its intraday high a few ticks below 17500 at 17484.60 and then spent the rest of the day moving sideways. Prices have finally closed at 17469.75 with a gain of 293.05 points or 1.71% up. All the sectoral indices have participated in today’s rally and closed with gains. AUTO and MEDIA ended with a gain of more than 2% while IT and BANKS have registered nearly 2% gains.
Positive global cues helped NIFTY to open with a gap up. Furthermore, the RBI keeps an accommodative stance and policy rate unchanged. That helped prices to gain intraday and finally ended near 17500 resistance. The long-term trend is sideways while the long-term momentum bounced up from the weak zone and is now heading towards the strength zone. Momentums and trends are now contradicting each other. We should wait for them to come into sync. The short-term trend is sideways. Wait for a decisive breakout.
BANK NIFTY:
BANK NIFTY opened at 37052.75 with a big gap up of 431 points. The index first consolidated and recorded its intraday low at 36905.15.Prices have broken that consolidation on the upside and rallied higher. The rally was slow and took the prices to its intraday high at 37384.80. Prices have again consolidated in the last hour of trading and finally closed at 37264.95 with a gain of 643 points. PSU BANKS have outperformed today and closed higher by 2.57%. PVT BANKS have also seen a rally today and ended with a gain of 1.56%. Within the index, in terms of points, ICICIBANK contributed the highest while KOTAK BANK contributed the lowest.
We have also mentioned a possible trading range within 35300 – 36800 zones. That range broke decisively on the upside. That changes the short-term trend up which was sideways before. We still need a confirmation to confirm this breakout. A close above 36800 may confirm this breakout. Tomorrow is weekly F&O Expiry so we may get to see some volatile movement.
TECHNICAL PICKS
| COMPANY NAME | CMP | B/S | RATIONALE+ |
| BOSCH | 16694 | BUY | The stock is on the verge of giving the breakout on the intraday as well as the daily chart. The stock can be bought with a stop loss of 16340 and for the target of 17150. |
| PIDILITE | 2232 | BUY | The immediate trend of the script is bullish. There is a positive cross over of moving averages as well as of the indicators therefore it can be buy above 2240 with a stop loss of 2200 and target of 2285. |
DERIVATIVE PICKS
| Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| IEX | 270CE | BUY | 6 | CMP | 3 | 10 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| ICICIPRULI.Dec 30 | 590.95 | 0.16 | 4.71 | 4782000 | WHIRLPOOL.Dec 30 | 1904.8 | -5.85 | 143.46 | 1112000 | |
| LALPATHLAB.Dec 30 | 3582.8 | 0.17 | 4.69 | 518500 | VEDL.Dec 30 | 337 | -1.55 | 15.89 | 60546100 | |
| MGL.Dec 30 | 914.9 | 0.23 | 9.82 | 4281600 | CONCOR.Dec 30 | 631.95 | -1.13 | 11.87 | 6097263 | |
| PFIZER.Dec 30 | 4879.5 | 0.28 | 0.06 | 212625 | GMRINFRA.Dec 30 | 42.75 | -0.81 | 0.53 | 1.37E+08 | |
| APOLLOHOSP.Dec 30 | 5360.05 | 0.33 | 3.89 | 2136375 | HDFCLIFE.Dec 30 | 690.2 | -0.81 | 5.2 | 18520700 | |
| Short Covering | Long Unwinding | |||||||||
| GSPL.Dec 30 | 306 | 0.16 | -0.73 | 1385500 | ||||||
| CUMMINSIND.Dec 30 | 951.15 | 0.26 | -1.6 | 1406400 | ||||||
| COROMANDEL.Dec 30 | 762.3 | 0.48 | -1.18 | 1363750 | ||||||
| HAVELLS.Dec 30 | 1423 | 0.48 | -0.6 | 3725000 | ||||||
| ATUL.Dec 30 | 8972.5 | 0.5 | -4.65 | 41550 | ||||||
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Colgate Palmolive (india | 1458.55 | 0.96 | 367559 | 0 | 74.14 | Nifty 50 | 17469.75 | 1.71 | 74007 | |
| Max Financial Services l | 979.55 | 1.05 | 396861 | 0 | 74.14 | Nifty Bank | 37284.7 | 1.82 | 74007 | |
| Godrej Cons Products Ltd | 902.75 | 0.38 | 794348 | 0 | 73.08 | Nifty it | 35959.05 | 1.95 | 74007 | |
| Hdfc Bank Ltd. | 1553.8 | 1.84 | 7647098 | 0 | 69.74 | India Vix | 17.27 | -6.45 | 74007 | |
| Icici Lombard General In | 1445 | 2.02 | 774595 | 0 | 68.92 | Nifty Fmcg | 37659.95 | 1.3 | 74007 | |
| Crompton Greaves Consume | 429.25 | -0.59 | 2328403 | 0 | 66.16 | Nifty Pharma | 13433.85 | 1.51 | 74007 | |
| Voltas Ltd. | 1253.1 | -0.11 | 779432 | 0 | 66.08 | Nifty Realty | 509.05 | 1.72 | 74007 | |
| Asian Paints Limited | 3108.5 | 2.58 | 1171466 | 0 | 65.45 | Nifty Auto | 11007.7 | 2.31 | 74007 | |
| Marico Limited | 529.8 | 1.38 | 829926 | 0 | 65.14 | Nifty Metal | 5594.9 | 1.83 | 74007 | |
| Hdfc Ltd. | 2853 | 1.26 | 1772153 | 0 | 64.23 | Nifty Financial Services | 18284.95 | 1.7 | 74007 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: Manufacturing Output (MoM) (Oct) on 10th December, 2021
INR: Industrial Production (YoY) (Oct) on 10th December, 2021 |
•USD: Initial Jobless Claims on 9th December, 2021
•USD: CPI (YoY) (Nov) on 10th December, 2021 |
NEWS UPDATES
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Exponent Energy, a technology startup dedicated to simplifying energy for EVs, has secured $5 million in a Pre-Series A round of funding from auto components supplier Motherson Group and existing investors. YourNest VC led the fresh round of funding while 3one4 Capital & AdvantEdge VC doubled down on their earlier investment.
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Reliance BP Mobility Limited (RBML), operating under the brand name Jio-bp and The Mahindra Group, on Wednesday announced a non-binding MoU for exploring creation of EV products and services, alongside identifying synergies in low-carbon and conventional fuels. The MoU also covers evaluating charging solutions by Jio-bp for Mahindra vehicles including electric 3- and 4-wheelers, quadricycles and e-SCV (Small Commercial Vehicles – sub 4 ton). This would include captive fleets and last-mile mobility vehicles of Mahindra Group.
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Alembic Pharmaceuticals on Wednesday said it has received approval from the US health regulator to market Selexipag tablets, used to treat high blood pressure, in the American market. The company said it has received tentative approval from the US Food and Drug Administration (USFDA) for its abbreviated new drug application (ANDA) for Selexipag tablets in strengths of 200 mcg, 400 mcg, 600 mcg, 800 mcg, 1,400 mcg, and 1,600 mcg.
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ABB India has partnered with Indore Smart City Development Ltd (ISCDL) to deploy next-generation digital technology that ensures continuous power supply to homes and businesses.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| ADROITINFO | Reduction of Capital | 09-Dec-21 | STL | General | 10-Dec-21 |
| BCG | A.G.M.;Preferential Issue of shares | 09-Dec-21 | SUPRAP | General | 10-Dec-21 |
| DHANADACO | General | 09-Dec-21 | UNIVPHOTO | Voluntary Delisting of Shares | 10-Dec-21 |
| LADIAMO | A.G.M.;Audited Results | 09-Dec-21 | CRPRISK | A.G.M.;Audited Results | 11-Dec-21 |
| MEL | General | 09-Dec-21 | INDPRUD | General | 11-Dec-21 |
| AASHKA | Half Yearly Results | 10-Dec-21 | MAGANTR | General | 11-Dec-21 |
| BHATIA | General | 10-Dec-21 | SHANTAI | General | 11-Dec-21 |
| BLUECLOUDS | Preferential Issue of shares | 10-Dec-21 | SHUBHAM | Quarterly Results | 11-Dec-21 |
| DYNAMIND | General | 10-Dec-21 | CMMHOSP | General | 13-Dec-21 |
| OBCL | General | 10-Dec-21 | DANUBE | Stock Split | 13-Dec-21 |
| SHIVAMAUTO | Rights Issue | 10-Dec-21 | GRNLAMIND | Stock Split | 13-Dec-21 |
| SINDHUTRAD | Stock Split | 10-Dec-21 | JINDALPHOT | Voluntary Delisting of Shares | 13-Dec-21 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| BNKCAP | 09-Dec-21 | Dividend – Rs. – 2.5000 | SEACOAST | 10-Dec-21 | E.G.M. |
| DUGARHOU | 09-Dec-21 | E.G.M. | NIHARINF | 13-Dec-21 | E.G.M. |
| OAL | 09-Dec-21 | Interim Dividend – Rs. – 1.5000 | HINDZINC | 14-Dec-21 | Interim Dividend – Rs. – 18.0000 |
| RIDHISYN | 09-Dec-21 | Right Issue of Equity Shares | NMDC | 14-Dec-21 | Interim Dividend – Rs. – 9.0100 |
| SHIVAMAUTO | 09-Dec-21 | Right Issue of Equity Shares | TTKPRESTIG | 14-Dec-21 | Stock Split From Rs.10/- to Rs.1/- |
| TTL | 09-Dec-21 | Interim Dividend – Rs. – 1.0000 | RAJESHEXPO | 15-Dec-21 | Dividend – Rs. – 1.0000 |
| WEIZMANIND | 09-Dec-21 | Buy Back of Shares | BNRSEC | 16-Dec-21 | Right Issue of Equity Shares |
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