NIFTY:
NIFTY opened at 17370.10 with a gap up of 104 points. The index recorded its intraday low at 17339 within the first five minutes of trading and then moved further on the upside. Prices then started a process of consolidation and traded in a tight, narrow range for about 4 hours. The range eventually broke on the upside and prices rallied to record its intraday high at 17477.15. The index finally closed at 17463.80 near its intraday highs with a gain of 197.05 points or 1.14% up. All the sectoral indices have closed with gains today except OIL GAS.FMCH, PHARMA, and REALTY contributed the least as they close with a gain of less than 1%.The rest of the sectoral indices have closed more than 1% higher.
The short-term trend is up now as prices have found support after a sharp fall and are now moving higher. Yesterday, we have mentioned a bullish Head & Should pattern on the 30minutes timeframe chart with a neckline around 17280. This pattern is giving us a target of around 17550 which may reach soon. The volatility is colling off as the volatility index ‘ NDIA VIX’ has moved below 18. It will be normal when the value moves below 16.
BANK NIFTY:
BANK NIFTY opened at 38176.10 with a gap up of 186 points. Prices recorded its intraday high at 38222.10 a few ticks above the opening tick. Prices then moved down, filled the gap and kept on moving down to record its intraday low at 37319.05. Prices then takes a U turn and rallied toward sits early morning highs. The index finally closed at 37950 without much of change. PSU BANKS have continued its outperformance and closed higher by 0.82%.PVT BANKS have also moved up today and ended with again of just 0. 14%. Within the index, in terms of points, ICICI BANK contributed the highest while RBL BANK contributed the lowest.
Tomorrow, we should look for a buying opportunity on any sign of strength. The trade here is to buy above 38250.In case of a gap up above 38250,buy above the first 15 minutes of high.
TECHNICAL PICKS
| COMPANY NAME | CMP | B/S | RATIONALE+ |
| APOLLOHOSP | 4577 | BUY | The stock is on the verge of giving the breakout on the intraday as well as the daily chart. The stock can be buy above 4580 with a stop loss of 4525 and for the target of 4650. |
| DLF | 386 | SELL | The immediate trend of the script is bearish. There is a negative cross over of moving averages as well as of the indicators therefore it can be sold below 385 with a stop loss of 390 and target of 380. |
DERIVATIVE PICKS
| Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| BAJAJFIN | 7100 CE | BUY | 220 | CMP | 180 | 300 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| PFC.Feb 24 | 119.3 | 0.08 | 12.41 | 43920800 | JKCEMENT.Feb 24 | 3302 | -0.84 | 0.06 | 281925 | |
| ABB.Feb 24 | 2260 | 0.11 | 6.36 | 204750 | MOTHERSUMI.Feb 24 | 180 | -0.39 | 0.32 | 15536500 | |
| IDFCFIRSTB.Feb 24 | 47.2 | 0.11 | 0.06 | 1.46E+08 | LAURUSLABS.Feb 24 | 528.6 | -0.39 | 0.39 | 4626900 | |
| MCDOWELL-N.Feb 24 | 859.2 | 0.13 | 0.6 | 15636250 | JINDALSTEL.Feb 24 | 417 | -1.35 | 0.44 | 34455000 | |
| RBLBANK.Feb 24 | 147 | 0.27 | 2.72 | 36197800 | DLF.Feb 24 | 388.25 | -0.04 | 0.68 | 34077450 | |
| Short Covering | Long Unwinding | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| GRANULES.Feb 24 | 312.75 | 0.29 | -1.93 | 12297700 | GSPL.Feb 24 | 303.7 | -3.33 | -1.01 | 1337900 | |
| EXIDEIND.Feb 24 | 168.25 | 0.39 | -0.71 | 24505200 | BHEL.Feb 24 | 55.9 | -3.12 | -0.54 | 1.27E+08 | |
| TATACOMM.Feb 24 | 1283.8 | 0.41 | -4.84 | 3301600 | METROPOLIS.Feb 24 | 2456.1 | -2.3 | -5.26 | 565000 | |
| NESTLEIND.Feb 24 | 18194.8 | 0.48 | -1.25 | 299725 | IDEA.Feb 24 | 10.8 | -1.82 | -0.02 | 6.55E+08 | |
| BANDHANBNK.Feb 24 | 322.5 | 0.5 | -3.35 | 20212200 | HONAUT.Feb 24 | 44333.4 | -1.68 | -3.61 | 8415 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Icici Lombard General In | 1366.85 | 2.23 | 604378 | 0 | 75.44 | Nifty 50 | 17463.8 | 1.45 | 78411 | |
| Max Financial Services l | 879.15 | 1.13 | 384437 | 0 | 72.1 | Nifty Bank | 38610.25 | 1.62 | 78411 | |
| Petronet Lng Limited | 218 | 2.83 | 4111121 | 0 | 65.55 | Nifty it | 34983.3 | 1.05 | 78411 | |
| Hdfc Ltd. | 2435.35 | 0.3 | 7141774 | 0 | 64.02 | Nifty Auto | 11680.15 | 2.39 | 78414 | |
| Abbott India Limited | 16672.4 | 5.69 | 110598 | 0 | 63.33 | Nifty Metal | 5985 | 2.68 | 78414 | |
| Colgate Palmolive (india | 1464.95 | 1.93 | 567872 | 0 | 61.93 | India Vix | 18.55 | -9.22 | 78408 | |
| Hdfc Bank Ltd. | 1497.6 | 2.01 | 5654171 | 0 | 61.84 | Nifty Media | 2215.3 | 0.81 | 78414 | |
| Axis Bank Limited | 803.85 | 1.8 | 9399830 | 0 | 61.16 | Nifty Fmcg | 36852.85 | 0.24 | 78414 | |
| Hcl Technologies Ltd. | 1180.9 | 2.03 | 3772972 | 0 | 60.91 | Nifty Realty | 467 | -0.26 | 78414 | |
| Hindustan Unilever Ltd | 2277.65 | 0.89 | 1049611 | 0 | 60.85 | Nifty Pharma | 13570.3 | 1.41 | 78414 | |
| Icici Bank Ltd. | 802.8 | 2.09 | 8855292 | 0 | 60.6 | Nifty Financial Services | 17860.35 | 1.43 | 78411 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: RBI Interest Rate Decision on 10th February, 2022
INR: Industrial Production (YoY) on 11th February, 2022 |
•USD: Initial Jobless Claims on 10th February 2022
•USD: Core CPI (MoM) (Jan) on 10th February 2022 |
NEWS UPDATES
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GAIL (India) Ltd has pre-poned the supply of gas from the US and is looking to contract more LNG next year as it doubles down efforts to secure affordable energy supplies to meet the needs of Asia’s third-largest economy, chairman Manoj Jain said. India’s No.1 gas transporting and marketing firm has long-term liquefied natural gas (LNG) supply contracts from the US to Australia and with Russia, supplementing domestic gas supplies.
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Tata Power on Wednesday posted a 74 per cent rise in its consolidated net profit to Rs 552 crore for the December quarter on the back of higher revenues. This was the ninth consecutive quarter of PAT growth, it added. “Consolidated PAT (profit after tax) up by 74 per cent YoY year at Rs 552 crore vs Rs 318 Crore in Q3 FY21 (October-December 2020) on the back of strong all-round business performance by all verticals,” a company statement said.
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Jindal Steel and Power on Wednesday reported “meaningful recovery” in steel sales, despite low railway rake availability and stressed that sales volume registered a year-on-year growth of 20 per cent to 6.95 lakh tonnes in January this year. Inventories continued to decline for the second consecutive month with the company posting steel production of 6.82 lakh tonnes.
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Larsen & Toubro (L&T) on Wednesday said that its construction arm has bagged a ‘significant’ order to construct hi-tech IT parks at eight locations across Bangladesh. This project is being funded by the Indian EXIM Bank and is the first IT and office space order that L&T has secured in Bangladesh.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint.
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| ABB | Dividend;Audited Results;Results | 10-Feb-22 | WELCORP | Quarterly Results | 10-Feb-22 |
| AMARAJABAT | Quarterly Results | 10-Feb-22 | STAR | Quarterly Results | 10-Feb-22 |
| BOMDYEING | Quarterly Results | 10-Feb-22 | GSPL | Quarterly Results | 10-Feb-22 |
| BEML | Quarterly Results | 10-Feb-22 | SUNTV | Interim Dividend;Quarterly Results | 10-Feb-22 |
| ESABINDIA | Interim Dividend;Quarterly Results | 10-Feb-22 | ZEEMEDIA | Quarterly Results | 10-Feb-22 |
| HEROMOTOCO | Interim Dividend;Quarterly Results | 10-Feb-22 | PAGEIND | Interim Dividend;Quarterly Results | 10-Feb-22 |
| INDORAMA | Quarterly Results | 10-Feb-22 | INSECTICID | Quarterly Results | 10-Feb-22 |
| WHIRLPOOL | Quarterly Results | 10-Feb-22 | RPOWER | Quarterly Results | 10-Feb-22 |
| KIRLOSBROS | Quarterly Results | 10-Feb-22 | IRB | Quarterly Results | 10-Feb-22 |
| TRENT | Quarterly Results | 10-Feb-22 | SJVN | Interim Dividend;Quarterly Results | 10-Feb-22 |
| MRF | Interim Dividend;Quarterly Results | 10-Feb-22 | APLLTD | General;Quarterly Results | 10-Feb-22 |
| PEL | Quarterly Results | 10-Feb-22 | SCHNEIDER | General;Quarterly Results | 10-Feb-22 |
| SUNDRMFAST | Quarterly Results | 10-Feb-22 | VMART | Quarterly Results | 10-Feb-22 |
| HINDALCO | Quarterly Results | 10-Feb-22 | LALPATHLAB | Quarterly Results | 10-Feb-22 |
| WSTCSTPAPR | Quarterly Results | 10-Feb-22 | QUESS | Quarterly Results | 10-Feb-22 |
| CUMMINSIND | Interim Dividend;Quarterly Results | 10-Feb-22 | COCHINSHIP | Interim Dividend;Quarterly Results | 10-Feb-22 |
| BHARATFORG | Quarterly Results | 10-Feb-22 | MATRIMONY | Quarterly Results | 10-Feb-22 |
| M&M | General;Quarterly Results | 10-Feb-22 | GICRE | General;Quarterly Results | 10-Feb-22 |
| TATACHEM | Quarterly Results | 10-Feb-22 | HAL | Interim Dividend;Quarterly Results | 10-Feb-22 |
| EVERESTIND | Quarterly Results | 10-Feb-22 | MIDHANI | Quarterly Results | 10-Feb-22 |
| SUNTECK | General;Quarterly Results | 10-Feb-22 | MINDSPACE | Dividend;Quarterly Results | 10-Feb-22 |
| CARBORUNIV | Interim Dividend;Quarterly Results | 10-Feb-22 | CAMS | Interim Dividend;Quarterly Results | 10-Feb-22 |
| VINDHYATEL | Quarterly Results | 10-Feb-22 | IRFC | General;Quarterly Results | 10-Feb-22 |
| HONDAPOWER | Quarterly Results | 10-Feb-22 | KIMS | Quarterly Results | 10-Feb-22 |
| ELGIEQUIP | Quarterly Results | 10-Feb-22 | GRINFRA | Quarterly Results | 10-Feb-22 |
| JMCPROJECT | General;Quarterly Results | 10-Feb-22 | ZOMATO | Quarterly Results | 10-Feb-22 |
| RCF | Quarterly Results | 10-Feb-22 | KCP | Quarterly Results | 10-Feb-22 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| ALKEM | 10-Feb-22 | Interim Dividend – Rs. – 30.00 | KPITTECH | 10-Feb-22 | Interim Dividend – Rs. – 1.2500 |
| APCOTEXIND | 10-Feb-22 | Interim Dividend – Rs. – 2.00 | KRETTOSYS | 10-Feb-22 | Bonus issue 1:10 |
| BAJAJCON | 10-Feb-22 | Interim Dividend – Rs. – 4.00 | KRETTOSYS | 10-Feb-22 | Stock Split From Rs.10/- to Rs.1/- |
| BPCL | 10-Feb-22 | Interim Dividend – Rs. – 5.00 | MASFIN | 10-Feb-22 | Interim Dividend – Rs. – 1.2500 |
| CHOLAFIN | 10-Feb-22 | Interim Dividend – Rs. – 1.30 | NACLIND | 10-Feb-22 | Interim Dividend – Rs. – 0.1500 |
| DAAWAT | 10-Feb-22 | Interim Dividend – Rs. – 0.50 | NITINSPIN | 10-Feb-22 | Interim Dividend – Rs. – 1.50 |
| DHANUKA | 10-Feb-22 | Interim Dividend – Rs. – 8.00 | SHBCLQ | 10-Feb-22 | Interim Dividend – Rs. – 0.50 |
| EMAMILTD* | 10-Feb-22 | Interim Dividend – Rs. – 4.00 | SHREECEM | 10-Feb-22 | Interim Dividend – Rs. – 45.00 |
| FORBESCO | 10-Feb-22 | Spin Off | SHREEGANES | 10-Feb-22 | Stock Split From Rs.10/- to Rs.1/- |
| GMM | 10-Feb-22 | Interim Dividend – Rs. – 1.00 | SPMLINFRA | 10-Feb-22 | E.G.M. |
| GRNLAMIND | 10-Feb-22 | Stock Split From Rs.5/- to Rs.1/- | TORNTPOWER | 10-Feb-22 | Interim Dividend – Rs. – 9.00 |
| IRBINVIT | 10-Feb-22 | Income Distribution (InvIT) | TTKPRESTIG | 10-Feb-22 | Interim Dividend – Rs. – 2.50 |
| JUBLINGREA | 10-Feb-22 | Interim Dividend – Rs. – 2.50 | VRLLOG | 10-Feb-22 | Interim Dividend – Rs. – 8.00 |
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