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 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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|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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|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|
TOP DELIVERY PERCENTAGE
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|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
|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
|•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
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|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|
|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|
|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|
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