outlookNIFTY:

The Nifty opened at 14789.05 without any gap. The index initially went down and recorded its intraday low at 14714.75. Prices then saw a one sided move till the end of the day’s trading session. Prices have rallied more than 200 points and recorded its intraday high at 14913.70. The index finally closed just below 14900 at 14895 with a gain of 105 points. All the sectoral indices have closed with gains except IT. The FMCG and Banks have led the bulls.

Nifty continued making lifetime new highs and closed higher for the fifth consecutive day. Early morning weakness did not hold, Bulls came in with strong momentum and brought the index above 14900.For today we should look for buying on a sharp dip. The idea is to wait for prices to dip almost 100 points from the opening tick and then we should take a long trade there. Keep a stop of 80 points and a target of 180 points.

BANK NIFTY:

Bank Nifty opened at 34548.90 with a gap down of 148 points. The index initially went down further and recorded its intraday low at 34238.90. Prices have seen then one sided move and went near 35500. The index finally closed at 35322.35 with a gain of 626 points. PSU Banks have significantly outperformed and closed higher by 5.88% while Private Banks have closed higher by .94%. Within the index, in terms of points. SBI contributed highest while Indusind Bank the lowest.

Bank Nifty continued its upside rally for the fifth consecutive day and closed higher.

The trend being very strong we should look to buy on dips. The idea is to wait for prices to dip 400 points and then look to buy.

Trade AnyTime AnyWhere With Elite Empower Mobile App

Elite-Empower-App-Promotional-Banner-img1

TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
INDIGO 1672.35 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 1650 and for the target 1720
GODREJCP 768.75 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 755 and for the target 785

Get All Your Mutual Fund Portfolio Retuns on Your Mobile by Elite Kuber App


Elite-Kuber-Mutual-Fund-Promotional-Banner-img

DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
ZEEL 250 CE BUY 17.20 CMP 14 22 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
MANAPPURAM.21.02 Feb 182.75 5.48 24.43 16932000 GODREJPROP.21.02 Feb 1351.65 -3.07 37.62 2037750
BHEL.21.02 Feb 42.5 6.38 24.12 144606000 ICICIPRULI.21.02 Feb 479.05 -0.47 26.58 8286000
L&TFH.21.02 Feb 93.3 0.48 21.89 32055008 ASIANPAINT.21.02 Feb 2418 -1.86 19.39 6456900
APOLLOTYRE.21.02 Feb 244.65 7.14 21.43 19890000 TORNTPOWER.21.02 Feb 316.75 -0.74 13.61 5409000
JUBLFOOD.21.02 Feb 2838.3 6.78 20.66 1914000 HDFCLIFE.21.02 Feb 685.55 -0.73 12.45 9517200
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
FINNIFTYW.21.02 Feb 16608 1.4 -17.38 17680 BOSCHLTD.21.02 Feb 16435 -1.03 -4.3 77850
SAIL.21.02 Feb 65 3.34 -4.76 98059000 AARTIIND.21.02 Feb 1192.4 -0.49 -3.23 597550
ESCORTS.21.02 Feb 1408.45 1.2 -2.48 3411650 UBL.21.02 Feb 1292.3 -0.35 -1 1321600
TATACHEM.21.02 Feb 534 2.7 -1.8 6674000 TATAMOTORS.21.02 Feb 327.25 -1.37 -0.16 69283500
CHOLAFIN.21.02 Feb 464.9 1.03 -1.69 5222500

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Aarti Industries Ltd. 1194.15 0.51 425706 462733 65.93 Nifty Fmcg 34507.65 2.45 77922
Pvr Limited 1494.7 -0.76 1840989 2513670 62.52 Nifty Media 1801.25 2.05 77922
Indus Towers Limited 253.85 2.32 6067339 4273235 61.45 Nifty Metal 3409.55 1.95 77922
Icici Lombard General In 1470.25 2.36 713746 682729 57.39 Nifty Bank 35344.8 1.69 77922
Icici Prudential Life In 476.6 -0.4 4918494 3564455 55.88 Nifty Energy 17462.95 1.4 77922
Britannia Ind Ltd. 3580 1.81 958717 436673 55.49 Nifty Auto 10867.1 1.1 77922
Colgate Palmolive (india 1621.4 0.76 325128 361903 53.39 Nifty Realty 339 0.95 77922
Infosys Limited 1279.35 -0.41 5032240 4333962 52.96 Nifty 50 14895.65 0.71 77922
Nestleind 17074 -0.54 92100 54510 48.53 Nifty Pharma 12739.05 0.25 77922
Dabur India Ltd. 526.1 0.26 2515981 1285974 47.98 Nifty it 25570.05 -0.43 77922

Get Stock Market Recommendation By Our Research Analysts

Market-Research-Promotional-Banner-img5

UPCOMING ECONOMIC DATA

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

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

•USD : Unemployment Rate (Jan) on 5th February, 2021

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

Open Your Demat Account to Invest in Upcoming IPO’sDemat-and-Trading-Account-Promotion-Banner

NEWS UPDATES

•State Bank of India’s third-quarter profit fell on higher provisions. Yet, the earnings beat estimates. Net profit of India’s largest lender declined 7% year-on-year to Rs 5,196 crore in the quarter ended December, according to an exchange filing. That compares with the Rs 4,479-crore consensus estimate of analysts tracked by Bloomberg. SBI’s gross non-performing asset ratio stood at 4.77% compared with 5.28% in the preceding three months. Its net NPA ratio was at 1.23%, down 36 basis points sequentially.

•Hindustan Aeronautics Ltd (HAL) on Thursday said its order book is expected to cross Rs one trillion-mark in the next year. “The order book was about Rs 53,000 crore, if you add Tejas (LCA) to it, it will cross Rs 80,000 crore, so that is the order book as of now, and we are expecting two more orders that is basically for LCH and HTT-40, coming up for the next year,” HAL CMD R Madhavan said.

•Ather Energy’s new scooter plant in Hosur, Tamil Nadu, has started production with an investment of more than Rs 630 crore, said the Hero MotoCorp-backed electric vehicles start-up on Thursday. The plant spreads over 400,000 sq. ft and it will manufacture electric scooters along with lithium-ion batteries. Ather did not comment on production, but Tamil Nadu’s nodal agency for investment promotion tweeted a picture of the plant rolling out scooters. The company has signed an agreement with the Tamil Nadu government to invest Rs 635.4 crore in the plan that will create around 4,000 jobs in five years.

Source: Economic Times,  Moneycontrol  ,Business Today, Livemint, Business Standard, Bloomberg Quint

BOARD MEETING

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ALKEM Interim Dividend;Quarterly Results 05-Feb-21 JAMNAAUTO Interim Dividend;Quarterly Results 05-Feb-21
ASHOKA Quarterly Results 05-Feb-21 JINDALSAW Quarterly Results 05-Feb-21
BECTORFOOD Quarterly Results 05-Feb-21 JUBILANT Quarterly Results 05-Feb-21
BRITANNIA Quarterly Results 05-Feb-21 KILPEST Quarterly Results 05-Feb-21
CADILAHC Quarterly Results 05-Feb-21 KIRLOSENG Quarterly Results 05-Feb-21
CGPOWER Quarterly Results 05-Feb-21 KIRLOSIND Quarterly Results 05-Feb-21
DALMIASUG Quarterly Results 05-Feb-21 M&M Quarterly Results 05-Feb-21
DIAMINESQ Quarterly Results 05-Feb-21 NIITLTD Quarterly Results 05-Feb-21
EQUITAS Interim Dividend;Quarterly Results 05-Feb-21 PARAGMILK Quarterly Results;General 05-Feb-21
FCONSUMER Quarterly Results 05-Feb-21 PFIZER Quarterly Results 05-Feb-21
FORTIS Quarterly Results 05-Feb-21 PNB Quarterly Results 05-Feb-21
GATI Quarterly Results 05-Feb-21 RCF Interim Dividend;Quarterly Results 05-Feb-21
GUJGAS Quarterly Results 05-Feb-21 SKFINDIA Quarterly Results 05-Feb-21
HINDMOTORS Quarterly Results 05-Feb-21 SUMICHEM Quarterly Results 05-Feb-21
INDOAMIN Interim Dividend;Quarterly Results 05-Feb-21 TALBROAUTO Quarterly Results 05-Feb-21
INSECTICID Quarterly Results 05-Feb-21 TCIDEVELOP Quarterly Results 05-Feb-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ACCELYA 05-Feb-21 Interim Dividend – Rs. – 35.00 BEL 08-Feb-21 Interim Dividend – Rs. – 1.40
COSMOFILMS 05-Feb-21 Interim Dividend – Rs. – 25.00 GRANULES 08-Feb-21 Interim Dividend – Rs. – 0.2500
NAM-INDIA 05-Feb-21 Interim Dividend – Rs. – 3.00 GRAVITA 08-Feb-21 Interim Dividend – Rs. – 1.10
NATIONALUM 05-Feb-21 Buy Back of Shares INDUSTOWER 08-Feb-21 Interim Dividend – Rs. – 17.8200
OCTAWARE 05-Feb-21 E.G.M. LAURUSLABS 08-Feb-21 Interim Dividend – Rs. – 0.40
TIRUSTA 05-Feb-21 E.G.M. MOTILALOFS 08-Feb-21 Interim Dividend – Rs. – 5.00

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


For Daily Share Market Updates, Daily debt market review, Market Research Analysis reports, Weekly Techno-Funda Report, Fundamental Analysis Report, Monthly Recommended stock Picks, Equity Trading Tips, Upcoming IPO/NFO/Bonds/Ncd’s updates & other related information Subscribe our research plan