2021-01-08-OutlookNIFTY:

The Nifty opened at 14253.75 with a gap up of 107 points. The index made its intraday high at 14256.25 within the first five minutes of trading and then started moving down. Prices have consolidated between 10:30 AM to 3:00 PM and traded inside the very tight range. Another sharp decline in the last 30 minutes of trading forced the index to close near its intraday lows at 14137.35 down by 8.90 points. Metals have significantly outperformed and closed higher by 3.82% followed by the Realty sector which closed higher by 1.35%. FMCG, Pharma and IT sectors have underperformed and closed lower.

A gap up of more than 100 points did not sustain. The index vanishes all the gains from the gap and closed lower with marginal losses. It was a trend day on the downside where prices have opened near intraday highs and closed near its intraday lows. In the last three trading days, The Nifty has been trying very hard to cross a resistance zone of 14200-14250.

The trend is still up and we may get a buying opportunity if:

The Nifty closes above 14250; or A sharp dip towards 13800-13900 zone.

BANK NIFTY:

Bank Nifty opened at 32129.80 with a gap up of 405 points. Prices have first moved down and then rallied then again rallied and then saw a sharp decline. The index finally closed at 31956. Private and PSU Banks have both performed the same and closed higher by 0.70% and 0.74% respectively. Within the index, in terms of points Axis Bank contributed highest while ICICI Bank the lowest.

We were long in the index from 31500 with a stop just below 31400 and target of around 32400. Prices have neither met the stop nor the target so the trade remained intact. The position is in a profit of more than 600 points. We should close this position and take profit at the opening price.

The index opened with a large gap up and then traded very volatile and narrow. The index is now trading near its lifetime high around 32613.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
SUNTV 518.05 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 510 and for the target 525-540
M&MFIN 195.45 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 191 and for the target 203.

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
SBILIFE 920 CE BUY 31 CMP 26 39 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
LALPATHLAB.21.01 Jan 2416 2.18 51.76 151000 HDFCAMC.21.01 Jan 3070.85 -1.3 20.16 270600
SRTRANSFIN.21.01 Jan 1294.35 8.05 25.37 4764000 GODREJPROP.21.01 Jan 1454.7 -0.95 18.94 1448850
TATACHEM.21.01 Jan 502.4 1.7 24.01 8482000 COFORGE.21.01 Jan 2776.85 -1.41 18.36 514875
LICHSGFIN.21.01 Jan 432 5.53 19.46 7588000 HINDUNILVR.21.01 Jan 2387.85 -1.73 14.21 5982600
PEL.21.01 Jan 1509 6.07 18.12 5194750 MGL.21.01 Jan 1121.7 -1.25 12.36 1734600
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
RAMCOCEM.21.01 Jan 836 3.59 -5.99 1962650 IGL.21.01 Jan 542.05 -0.22 -1.57 6733375
ACC.21.01 Jan 1714 1.82 -5.94 2993500 CONCOR.21.01 Jan 434.05 -0.41 -1.4 11098863
ONGC.21.01 Jan 98.4 1.13 -4.14 46908400 DABUR.21.01 Jan 536.35 -0.12 -0.12 15798750
BPCL.21.01 Jan 394.55 1.3 -2.45 23963400 MUTHOOTFIN.21.01 Jan 1282.95 -0.2 -0.05 4448250
SAIL.21.01 Jan 77.85 1.96 -1.98 94126000

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Icici Lombard General In 1571.2 -2.51 588805 955895 72.33 Nifty Metal 3550.45 3.82 87342
Power Grid Corporation o 197.05 0.46 22573087 19059736 62.44 Nifty Realty 322.9 1.35 87342
Hindustan Unilever Ltd 2368.85 -2 2403881 821704 50.05 Nifty Media 1701.2 0.6 87342
Hdfc Ltd. 2661.35 0.85 4106042 1679728 49.39 Nifty Auto 9429.65 0.53 87342
Dabur India Ltd. 535.2 0.21 1850927 2356545 48.84 Nifty Bank 31956 0.5 87342
Itc Ltd. 202.8 -1.27 34952401 23747706 48.4 Nifty 50 14137.35 -0.06 87342
Kotak Mahindra Bank Limi 1952.4 -0.91 3419317 1664533 48.21 Nifty Energy 17042.75 -0.32 87342
Hdfc Life Insurance Comp 704.3 -2.05 3284785 1704316 47.58 Nifty Pharma 13060.75 -0.44 87342
Sbi Life Insurance Compa 914.15 0.42 1109459 571209 47.02 Nifty it 25251.2 -0.66 87342
The Ramco Cements 832.2 3.71 2295347 450510 46.32 Nifty Fmcg 34032.35 -0.86 87342

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UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR:  Federal Fiscal Deficit on 8th January, 2021

INR:  Industrial Production (YoY) (Nov) on 10th January, 2021

•USD : Nonfarm Payrolls (Dec) on 8th January, 2021

•USD : Unemployment Rate (Dec) on 8th January, 2021

NEWS UPDATES

•Vodafone Idea Ltd. provided users the best voice service quality for the second straight month in December. Idea got the highest ratings on average voice quality in December 2020, according to the Telecom Regulatory Authority of India’s ratings based on customers feedback on MyCall portal. Vodafone followed in the second position. While the two operators have merged, the ratings are provided separately.

•IDFC First Bank has increased the interest rate on savings account balances up to ₹1 lakh to 7%. The interest rate was 6% earlier. The rate compares favorably with the 3-4% on offer in major private sector banks.

•The nation’s largest lender State Bank of India (SBI) on Thursday raised USD 600 million from selling bonds to international investors at a coupon of 1.80 per cent. The issue, oversubscribed by 2.1 times, is part of the bank’s USD 10 billion medium term note programme, the ratings of which were withdrawn by the rating agency Moody’s on Wednesday.

•Tata Power has bagged a contract worth Rs 488 crore from the Kerala State Electricity Board Limited (KSEBL) to develop a 110 MW solar project. The energy will be supplied to KSEBL under a Power Purchase Agreement (PPA), valid for a period of 25 years from the date of scheduled commercial operation.

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
ALPHA Quarterly Results 08-Jan-21 BCLIL General 09-Jan-21
DIANATEA General 08-Jan-21 CELLA General 09-Jan-21
ICSL Quarterly Results 08-Jan-21 CHDCHEM Quarterly Results 09-Jan-21
LAMBODHARA Preferential Issue of shares 08-Jan-21 DMART Quarterly Results 09-Jan-21
LORDSHOTL General 08-Jan-21 ESARIND General 09-Jan-21
MAHACORP Scheme of Arrangement 08-Jan-21 JIGAR General 09-Jan-21
RADIXIND Quarterly Results 08-Jan-21 JTLINFRA General;Quarterly Results 09-Jan-21
SHALBY Quarterly Results 08-Jan-21 RRIL Quarterly Results 09-Jan-21
TCS Interim Dividend;Quarterly Results 08-Jan-21 BEPL Quarterly Results 10-Jan-21
URJAGLOBA Right Issue of Equity Shares 08-Jan-21 RAMINFO Quarterly Results 10-Jan-21
ASHFL ESOP;Interim Dividend;Results 09-Jan-21 BHEEMACEM Audited Results;General 11-Jan-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
LPNAVAL 08-Jan-21 E.G.M. COCHINSHIP 13-Jan-21 Interim Dividend – Rs. – 9.0000
RITES 08-Jan-21 Interim Dividend – Rs. – 5.0000 INDTONER 14-Jan-21 Buy Back of Shares
REFEX 11-Jan-21 Interim Dividend – Rs. – 1.0000 INFRATRUST 14-Jan-21 Income Distribution (InvIT)
ORTINLAABS 12-Jan-21 Reduction of Capital SVPGLOB 14-Jan-21 Stock  Split From Rs.10/- to Rs.1/-
ORTINLAABS 12-Jan-21 Spin Off TCS 14-Jan-21 Interim Dividend

DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014

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