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Outlook

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

  • 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.

  • 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.

  • 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.

  • 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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