outlookNIFTY:

The Nifty opened at 15064.30 with a big gap up of 140 points. Prices have recorded its intraday low at 15041.05 within the first few minutes of trading and then rallied higher. Prices have seen a modest intraday move on the upside for the whole day and recorded its intraday high at 15159.90. The index finally closed at 15115.80 up by 191.55 points. All sectoral indices have closed with gains except FMCG. The Metal, Auto and IT sectors have led the bulls.

We had taken a long trade on Friday around 14872 and target of 15050. Prices have met with the target easily so our long trade closed with a gain of 178 points. The Bulls continued to dominate the Nifty following supportive global cues. The Nifty continued making lifetime new highs and prices have closed above the 15000 mark. The index is closing higher for the last six trading days. However the intraday movement was very narrow yesterday as we had a big gap up opening.

For today we should look to buy on a dip and as well as a breakout trade on the long side. The idea is to buy on a dip towards 14950 or breakout above 15150. if the index opens above 15150 then buy above first 15 minutes high. Keep a stop of 100 points and target of 220 points.

BANK NIFTY:

Bank Nifty opened at 36073.85 with a gap up of 320 points. The index traded very choppy and sideways. In this process prices have recorded its intraday high at 36466.65 and intraday low at 36021.10. The index finally closed at 35983. PSU Banks have underperformed after days of outperformance and closed lower by 1.04%. Private Banks have closed higher by 0.97%. Within the index, in terms of points, ICICI Bank contributed highest while Kotak Bank the lowest.

Bank Nifty continued its rally for the seventh consecutive day. We should look for a long trade either on a dip towards 35700 or on a breakout above 36600.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
MOTHERSONSUMI 162.85 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 157.50 and for the target 170
INFY 1303.55 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 1284 and for the target 1340.

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
HINDALCO 280 CE BUY 14.70 CMP 12 18 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
FINNIFTYW.21.02 Feb 16865.2 0.65 700 3840 PAGEIND.21.02 Feb 29370 -0.25 20.42 97110
EXIDEIND.21.02 Feb 216 5.75 24.9 13633200 GODREJCP.21.02 Feb 737.45 -1.57 20.02 4064000
MOTHERSUMI.21.02 Feb 163.95 4.43 22.26 41720000 BRITANNIA.21.02 Feb 3486.7 -1.94 15.58 2729200
POWERGRID.21.02 Feb 211.15 2.45 19.35 12360000 PETRONET.21.02 Feb 243.3 -0.73 15.4 15672000
IOC.21.02 Feb 104.7 1.8 19.08 63167000 RBLBANK.21.02 Feb 246.35 -1.28 14.45 21964600
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
COFORGE.21.02 Feb 2615.05 4.98 -8.98 444750 BHEL.21.02 Feb 39.75 -9.04 -16.04 128520000
GODREJPROP.21.02 Feb 1438.05 2.92 -8.83 1309100 INDUS TOWERS LIMITED.21. 240.7 -5.63 -3.69 13678000
HDFCAMC.21.02 Feb 3101.05 4.51 -7.3 441800 DIVISLAB.21.02 Feb 3793 -1.32 -2.11 3507200
CUMMINSIND.21.02 Feb 785.95 0.55 -7.02 1112400 CANBK.21.02 Feb 158 -2.14 -1.55 59335200
BANKNIFTY.21.02 Feb 36036.75 1.04 -6.67 1617925 PNB.21.02 Feb 38.15 -5.1 -1.4 195168000

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Power Grid Corporation o 212.55 2.63 15995755 9962066 61.59 Nifty Metal 3552.45 3.17 83838
Icici Lombard General In 1473 0.36 727597 472408 60.22 Nifty Auto 11061.15 3.14 83838
Indus Towers Limited 239.95 -5.55 6746469 4455346 59.63 Nifty it 25915.6 2.31 83838
Hindustan Unilever Ltd 2236.65 -1.45 2780672 2371338 58.74 Nifty Realty 348.15 2.01 83838
Torrent Power Limited 322.6 1.29 1337801 851583 55.71 Nifty Energy 17664.05 1.43 83838
Aarti Industries Ltd. 1191.7 0.1 251819 102160 55.64 Nifty 50 15115.8 1.28 83838
Hdfc Life Insurance Comp 684.05 0.37 3887493 1534420 55.61 Nifty Media 1739.3 1.08 83838
Nestleind 17218.2 0.6 121607 53189 54.22 Nifty Bank 35983.65 0.92 83838
Muthootfin 1176.55 1.07 1107651 906638 52.51 Nifty Pharma 12971 0.16 83838
Sbi Life Insurance Compa 859.1 -0.59 1899676 895257 50.69 Nifty Fmcg 34452.25 -0.55 83838

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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

•Oil in London rose above $60 a barrel for the first time in more than a year as stockpiles tighten and the demand outlook improves amid the global rollout of Covid-19 vaccines. It’s another milestone in a stellar comeback from the biggest demand destruction in a generation after the pandemic forced countries to lock down, devastated economies and grounded planes. The revival is a boost for global energy companies and petro-states whose budgets were ravaged last year.

•Sun Television Network (Sun TV) has reported a 18 per cent growth during the quarter ended December 31, 2020 to Rs 441.82 crore from Rs 373 .45 crore, during the same period last year. For the quarter ended December 2020, revenues were up around 19 per cent to Rs 972.34 crore from Rs 814.97 crore, during the same period last yera. Subscription revenues for the quarter was up by about 3 per cent to Rs 424.05 crore from Rs 411.85 crore, a year ago.

•Aditya Birla Fashion and Retail on Monday reported a consolidated net profit of Rs 58.55 crore for the quarter ended December. The company had posted a net loss of Rs 37.64 crore in the corresponding period of the previous fiscal.

•Post the merger of Jindal Stainless (Hisar) Limited with Jindal Stainless Limited, the company has chalked out a capex plan to cash on the strong demand visibility in the domestic market. “We have a capex plan of Rs 2,000-3,000 crore for the next 2-3 year as we look to double the capacity at our Odisha plant.

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
ABBOTINDIA Quarterly Results 09-Feb-21 HINDCOMPOS Quarterly Results 09-Feb-21
ADANIPORTS Quarterly Results 09-Feb-21 IGARASHI Quarterly Results 09-Feb-21
ANUHPHR Quarterly Results 09-Feb-21 INDOCO Quarterly Results 09-Feb-21
ASTERDM Quarterly Results 09-Feb-21 IOB Quarterly Results 09-Feb-21
BASF Quarterly Results 09-Feb-21 IRB General 09-Feb-21
BERGEPAINT Quarterly Results 09-Feb-21 J&KBANK Quarterly Results 09-Feb-21
BODALCHEM General;Quarterly Results 09-Feb-21 JBMA Quarterly Results 09-Feb-21
BURGERKING Quarterly Results 09-Feb-21 KRBL Quarterly Results 09-Feb-21
CENTRALBK Quarterly Results 09-Feb-21 LEMONTREE General;Quarterly Results 09-Feb-21
CENTURYPLY General;Quarterly Results 09-Feb-21 MGL Interim Dividend;Quarterly Results 09-Feb-21
COFFEEDAY Quarterly Results 09-Feb-21 MUTHOOTFIN Quarterly Results 09-Feb-21
ENDURANCE Quarterly Results 09-Feb-21 NDTV Quarterly Results 09-Feb-21
FRETAIL Quarterly Results 09-Feb-21 RAYMOND Quarterly Results 09-Feb-21
GUJALKALI Quarterly Results 09-Feb-21 TATASTEEL Audited Results;Quarterly Results 09-Feb-21
HEG Quarterly Results 09-Feb-21 TATASTEELPP Audited Results;Quarterly Results 09-Feb-21
HEIDELBERG Quarterly Results 09-Feb-21 TORNTPOWER Interim Dividend;Quarterly Results 09-Feb-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
CHOLAFIN 09-Feb-21 Interim Dividend – Rs. – 1.30 PERSISTENT 09-Feb-21 Interim Dividend – Rs. – 14.00
CUMMINSIND 09-Feb-21 Interim Dividend – Rs. – 7.00 SUNPHARMA 09-Feb-21 Interim Dividend – Rs. – 5.50
DAAWAT 09-Feb-21 Interim Dividend – Rs. – 0.50 VRFILMS 09-Feb-21 Interim Dividend – Rs. – 1.00
IOC 09-Feb-21 Interim Dividend – Rs. – 7.50 COROMANDEL 10-Feb-21 Interim Dividend – Rs. – 6.00
LALPATHLAB 09-Feb-21 Interim Dividend – Rs. – 6.00 DCW 10-Feb-21 E.G.M.
ORIENTELEC 09-Feb-21 Interim Dividend – Rs. – 0.7500 KPRMILL 10-Feb-21 Interim Dividend – Rs. – 3.7500

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