outlookNIFTY:

The Nifty opened at 14972.60 with a gap up of 77 points. Prices have first seen a mild upward rally and recorded its intraday high at 15014.65. The index traded very volatile. In this process, prices have recorded its intraday low at 14864.75 and finally closed at 14924.25 up by 28.60 points. The Pharma and Banks have led the bulls while Media, Auto and IT sectors have closed with loss. Nifty continued making lifetime new highs and prices have crossed a psychological number of 15000. However, in the end, the index came lower and closed just a tad below 15000. The week was very good for the bulls as we have seen a gain of 1280 points in the last five trading days. Nifty closes higher for the sixth consecutive trading day. The trend is still very strong on the upside as the Nifty is trading at its lifetime new highs. After a sharp move this week it is very likely that we may see a consolidation in the next week. Psychological resistance is visible around 15000 levels while strong support is visible around 14700.We had suggested a long trade for Friday. The trade was to buy on a dip of 100 points from the opening tick. Luckily for us, the dip came. The index opened at 14972 so we were looking for a buying opportunity at 14872. Around 11:00 AM our long trade got executed at this level. We had suggested a stop of 80 points and target of 180 points. Prices did not touch either of these levels so our trade is intact.

BANK NIFTY:

Bank Nifty opened at 35634.95 with a gap up of 212 points. The index initially rallied and recorded its intraday high at 36615.20. Prices then started moving down, continued that down move towards the end of the day’s trading session and finally closed at 35654. PSU Banks have significantly outperformed and closed higher by 3.60% while Private Banks have closed lower by 0.69%. Within the index in terms of points SBI contributed highest while Axis Bank the lowest. We had suggested a long trade in this index.  The trade was to buy on a dip of 400 points from the opening tick. Prices have not seen that dip so our trade was not executed.

On Monday, we should again look for a dip of 400 points to buy.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
AUROPHARMA 942.85 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 928 and for the target 970
JSWSTEEL 402.20 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 396 and for the target 412

 

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
LUPIN 1070 CE BUY 47 CMP 38 60 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
FINNIFTYW.21.02 Feb 16735 0.8 733.33 3000 ZEEL.21.02 Feb 217.3 -13.29 37.38 43881000
ITC.21.02 Feb 231.75 0.5 13.11 118390400 COFORGE.21.02 Feb 2480.2 -2.78 28.25 621375
TORNTPHARM.21.02 Feb 2759.9 3.41 10.12 856750 RBLBANK.21.02 Feb 249.05 -3.32 19.45 20015800
BHEL.21.02 Feb 43.6 2.71 10.08 156681000 ASIANPAINT.21.02 Feb 2392 -0.97 12.58 7081800
SBIN.21.02 Feb 396.05 10.88 9.62 104661000 BANDHANBNK.21.02 Feb 330 -4.43 10.63 27471600
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
GODREJPROP.21.02 Feb 1398.3 4.07 -22.15 1476150 APOLLOTYRE.21.02 Feb 243.05 -0.88 -10.47 16545000
SAIL.21.02 Feb 65.5 0.92 -3.82 94240000 PNB.21.02 Feb 40.05 -1.48 -4.13 237168000
NTPC.21.02 Feb 97.05 0.36 -2.55 67881300 BEL.21.02 Feb 139.75 -0.46 -4.04 33060000
CUMMINSIND.21.02 Feb 780.75 0.06 -1.82 1231200 INDUSINDBK.21.02 Feb 1031.05 -0.54 -3.49 24993000
CIPLA.21.02 Feb 850.45 1.38 -1.41 13114400 IBULHSGFIN.21.02 Feb 215.85 -3.29 -3.16 29121400

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Torrent Power Limited 318.5 -0.83 1528572 1683461 72.37 Nifty Pharma 12950.65 1.66 87222
Aarti Industries Ltd. 1190.45 -0.31 183614 303668 71.33 Nifty Metal 3443.15 0.99 87222
Power Grid Corporation o 207.1 0.85 16174758 9162308 69.25 Nifty Bank 35654.5 0.88 87222
Sbi Life Insurance Compa 864.2 0.03 1766235 1424741 68.01 Nifty Realty 341.3 0.68 87222
Hdfc Life Insurance Comp 681.55 0.17 2759333 2099820 62.13 Nifty Fmcg 34644.5 0.4 87222
Icici Prudential Life In 472.35 -0.89 2196185 2992481 60.84 Nifty 50 14924.25 0.19 87222
Icici Lombard General In 1467.75 -0.17 784535 428492 60.03 Nifty Energy 17415.5 -0.27 87222
Asian Paints Limited 2376.75 -1.04 3303319 2051905 58.99 Nifty it 25331.6 -0.93 87222
Hindustan Unilever Ltd 2269.55 1.07 4036942 1634313 56.2 Nifty Auto 10723.95 -1.32 87222
Motherson Sumi Sys Ltd. 156.35 -1.08 8334304 7429306 54.45 Nifty Media 1720.7 -4.47 87222

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UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR:  CPI (YoY) (Jan) on 12th  February, 2021

INR:  Industrial Production (YoY) (Dec) on 12th February, 2021

•USD : EIA Short-Term Energy Outlook on 9th February, 2021

•USD : JOLTs Job Openings (Dec) on 9th February, 2021

NEWS UPDATES

•Jubilant FoodWorks which runs Domino’s Pizza and Dunkin Donuts, has revised its expansion target upwards, following robust recoveries in the third quarter ended December 2020, backed by delivery and takeaway channels. In a post earnings investor call, the JFL management said it plans to set up over 110 Domino’s stores in FY21, and flagged potential of 3,000 Domino’s stores in India in the long term, up from 2,000 it had announced pre-Covid.

•Mahindra & Mahindra Ltd on Friday hinted at a possible price hike of its range of vehicles in the next few months due to rising commodity prices. The company, which was recently reported to have cut jobs in its North American operations, is likely to reduce it further even as it prepares to launch its off-roader vehicle Roxor.

•Punjab National Bank reported an 18 per cent quarter-on-quarter drop in its standalone net profit to Rs 506 crore in the December quarter (Q3). The state-owned bank’s net interest income dropped marginally by 1 per cent to Rs 8,313 crore in Q3, compared with the previous quarter. The bank’s gross non-performing assets ratio dropped by 44 basis points to 12.99 per cent from 13.43 per cent as of September. The bank’s net NPA ratio was at 4.03 per cent in Q3, a 4.75 per cent sequential decline.

•Britannia Industries Ltd.’s third-quarter profit rose beating estimates, aided by cost cuts. Net profit of the maker of Good Day and Tiger biscuits rose 22% year-on-year to Rs 452.6 crore in the quarter ended December, according to an exchange filing.

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
ASTRAZEN Quarterly Results 08-Feb-21 KHAITANLTD Quarterly Results;General 08-Feb-21
AVADHSUGAR Quarterly Results 08-Feb-21 MARKSANS Quarterly Results 08-Feb-21
BALAMINES Quarterly Results 08-Feb-21 MEGH Quarterly Results 08-Feb-21
BALKRISIND Interim Dividend;Quarterly Results 08-Feb-21 MONTECARLO Quarterly Results 08-Feb-21
BALMLAWRIE Interim Dividend;Quarterly Results 08-Feb-21 MPL Quarterly Results 08-Feb-21
BOMDYEING Quarterly Results 08-Feb-21 NBVENTURES Quarterly Results 08-Feb-21
BPCL Interim Dividend;Quarterly Results 08-Feb-21 NCLIND Quarterly Results 08-Feb-21
CAMLINFINE General;Quarterly Results 08-Feb-21 NMDC Quarterly Results 08-Feb-21
DHARAMSI Interim Dividend;Quarterly Results 08-Feb-21 REDINGTON Quarterly Results 08-Feb-21
EIDPARRY Quarterly Results 08-Feb-21 STARCEMENT Quarterly Results 08-Feb-21
ESSARSHPNG Quarterly Results 08-Feb-21 SUNTV Interim Dividend;Quarterly Results 08-Feb-21
EVERESTO Interim Dividend;Quarterly Results 08-Feb-21 TORNTPHARM Interim Dividend;Quarterly Results 08-Feb-21
GALAXYSURF Quarterly Results;Interim Dividend 08-Feb-21 USHAMART Quarterly Results 08-Feb-21
GODREJCP Interim Dividend;Quarterly Results 08-Feb-21 VAKRANGEE Quarterly Results 08-Feb-21
GRMOVER General 08-Feb-21 ZENLABS Quarterly Results 08-Feb-21
GUFICBIO Quarterly Results 08-Feb-21 ZPARICIN Quarterly Results 08-Feb-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
BEL 08-Feb-21 Interim Dividend – Rs. – 1.40 ORIENTCEM 08-Feb-21 Interim Dividend – Rs. – 0.50
GRANULES 08-Feb-21 Interim Dividend – Rs. – 0.2500 PROSEED 08-Feb-21 Resolution Plan -Suspension
GRAVITA 08-Feb-21 Interim Dividend – Rs. – 1.10 VISAKAIND 08-Feb-21 Interim Dividend – Rs. – 5.00
INDUSTOWER 08-Feb-21 Interim Dividend – Rs. – 17.8200 VMV 08-Feb-21 E.G.M.
LAURUSLABS 08-Feb-21 Interim Dividend – Rs. – 0.40 CHOLAFIN 09-Feb-21 Interim Dividend – Rs. – 1.30
MOTILALOFS 08-Feb-21 Interim Dividend – Rs. – 5.00 CUMMINSIND 09-Feb-21 Interim Dividend – Rs. – 7.00

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