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morning-outlook-11jan

NIFTY:

NIFTY opened at 17913.30 with a gap up of 101 points. The index first moved down and recorded its intraday low at 17879.15, Prices found support there and went up. The index came close to a psychological level of 18000 and then took a pause. A sideways movement begins that lasted the whole afternoon and eventually broke on the upside. Prices rallied again in the second half and recorded its intraday high at 18017.45 in the last minutes of trading. The NIFTY finally closed at 18003.3 with a gain of 190.60 points or 1.07% up. All the sectoral indices have closed with gains today. The PHARMA and IT underperformed today and closed with marginal gains while BANK and FINANCIALS have led the bulls today.

We should look for buying only. The idea is to either buy on a dip at 17800 or buy on a breakout above the first 30 minutes of high. Take only one trade whichever executes first. Keep a stop of 110 points and a target of 240 points. The index had recorded its lifetime highs at 18604. This level is now acting as resistance if the index remains above the 18000 level. Support has now shifted at 17650 which is also the previous swing low.

BANK NIFTY:

BANK- BANK NIFTY opened at 38000.90 with a gap up of 245 points. The index recorded its intraday low at 37943.55 and moved up. Prices have consolidated then and eventually broke on the upside. Prices have recorded its intraday high at 38400.35 and finally closed at 38344.95 with again 589 points. PSU BANKS have seen an outperformance today and ended with a gain of 3.23%.PVT BANKS have also seen a rally today and closed with again of 1.55%.Withinthe index, in terms of points, ICICI BANK contributed the highest while INDUSIND BANK contributed the lowest.

We should look for to either buy on a dip towards 38000 or buy on a breakout above 38500. In case of a gap up at 38500 buy above the first 15 minutes of high. Take only one trade whichever executed first. Keep a stop of 300 points and a target of 700 points from your entry price.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
ADANIENT 1752 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 1755 with a stop loss of 1725 and for the target of 1790.
TATAMOTOR 503 BUY The  immediate trend of the script is bullish. There is a positive cross over of moving averages  as well as of the indicators therefore  it can be buy above 504 with a stop loss of 498 and target  of 520.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
IRCTC   880CE BUY 32 CMP 22 50 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI   Stocks Price Price% OI % OI
IGL.Jan 27 470.8 0.05 2.04 13503875 COFORGE.Jan 27 5464.95 -4.32 22.26 932500
FSL.Jan 27 182.7 0.05 2.36 11172200 IPCALAB.Jan 27 1062.8 -3.52 10.28 2428200
INDUSTOWER.Jan 27 261.7 0.06 0.33 15405600 LTTS.Jan 27 5631.9 -2.82 16.44 770400
EICHERMOT.Jan 27 2829.75 0.08 1.16 2190650 WIPRO.Jan 27 693.55 -2.63 18.4 31472000
GSPL.Jan 27 316.55 0.09 5.16 1421200 SBICARD.Jan 27 906.4 -2.55 11.02 4947000
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
ICICIGI.Jan 27 1455 0.13 -0.13 2898500 GMRINFRA.Jan 27 48.45 5.67 -5.89 78345000
BPCL.Jan 27 399.55 0.36 -0.02 28501200 BANKBARODA.Jan 27 92.35 5.18 -2.45 1.37E+08
WHIRLPOOL.Jan 27 1854.95 0.37 -0.75 897250 RBLBANK.Jan 27 141.5 4.39 -2.69 39947500
MRF.Jan 27 74700.05 0.54 -0.74 55320 HDFCAMC.Jan 27 2532.95 3.31 -0.79 3072000
VEDL.Jan 27 341.55 0.84 -0.73 53893500 HAL.Jan 27 1298.1 2.87 -2.38 2847625

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Sbi Life Insurance Compa 1229.1 0.96 1379165 0 77.56   Nifty 50 18003.3 1.07 76344
Hindustan Unilever Ltd 2407.05 -0.38 919406 0 72.91 Nifty Bank 38347.9 1.61 76344
Hdfc Asset Management Co 2518.25 3.18 285654 0 72.19 Nifty it 38212.2 0.19 76344
Hdfc Ltd. 2659.65 2.42 5328083 0 71.44 Nifty Auto 11501.7 1.87 76347
Power Grid Corporation o 204 -0.58 8314283 0 66.74 Nifty Metal 5718.8 0.6 76347
Piind 2887.35 -2.09 384955 0 65.03   India Vix 17.68 0.44 76344
Larsen & Toubro Limited 1953.1 2.53 2397841 0 63.99   Nifty Media 2293.6 2.25 76347
Hcl Technologies Ltd. 1288.1 -0.19 2529949 0 63.9   Nifty Fmcg 37984.05 0.32 76344
Nestleind 19708 -0.98 20617 0 62.45   Nifty Realty 495.15 1.92 76347
Tata Consultancy Serv Lt 3879.85 0.68 3937085 0 61.03   Nifty Pharma 13858.95 0.01 76344

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR:  Industrial Production (YoY) (Nov) on 12th January, 2022

INR:  CPI (YoY) (Dec) on 12th January, 2022

•USD:  CPI (YoY) (Dec) on 12th January 2022

•USD : Crude Oil Inventories on 12th January 2022

NEWS UPDATES

  • Video game maker Take-Two Interactive Software Inc will acquire mobile game maker Zynga Inc in a cash-and-stock deal at an enterprise value of nearly $12.7 billion, the companies said on Monday. Take-Two said it would acquire all the outstanding shares of Zynga at $9.86 per share. Shares of Zynga rose 40.2% to $8.89 in trading before the bell on Monday.

  • Larsen & Toubro (L&T) on Monday said its construction arm has bagged a significant order from National High Speed Rail Corporation Ltd (NHSRCL). The major scope of work for the project comprises design and construction of civil and building works for a double-line high speed railway of a length of 8.198 km, L&T said in a statement. The scope of the work also includes the major station of Vadodara, confirmation car base, viaduct and bridges, crossing bridges, architectural and other associated works.

  • The U.S. Federal Reserve will hike interest rates four times this year and begin the runoff process for its balance sheet as soon as July, Goldman Sachs economists said. The research arm of the U.S. investment bank earlier predicted the Fed would raise rates in March, June and September, but it now expects another hike in December.

  • Billionaire Gautam Adani-led Adani Group has floated a new subsidiary ANIL (Adani New Industries Ltd) which will handle and operate its renewable energy (RE) business. ANIL and Mukesh Ambani’s Reliance Industries are set to change the Indian RE sector. ANIL will also manufacture solar modules, batteries, electrolyzers, associated upstream manufacturing as well as ancillary industries and undertake all such activities associated therewith in this regard.

Source: Economic Times,  Indian Express  ,Business Today, Livemint, Business Standard, Bloomberg Quint

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ATHARVENT Quarterly Results 11-Jan-22 JTLINFRA Results;Voluntary Delisting of Shares 11-Jan-22
CENTEXT General 11-Jan-22 KATRSPG Quarterly Results 11-Jan-22
DANUBE Quarterly Results 11-Jan-22 KIRIINDUS General 11-Jan-22
DELTACORP Quarterly Results 11-Jan-22 MADHUDIN Quarterly Results 11-Jan-22
DIVYAJYQ General 11-Jan-22 NATIONSTD Quarterly Results 11-Jan-22
EARUM Quarterly Results 11-Jan-22 NRINTER Quarterly Results 11-Jan-22
GANESHHOUC Quarterly Results 11-Jan-22 PTIL General 11-Jan-22
GRINFRA General 11-Jan-22 RADHEDE Quarterly Results 11-Jan-22
GYTRIPA General;Quarterly Results 11-Jan-22 SEL Quarterly Results 11-Jan-22
HATHWAYB Quarterly Results 11-Jan-22 SMARTFIN General 11-Jan-22
INTEGRA General;Quarterly Results;Rights Issue 11-Jan-22 SUPRAP General 11-Jan-22
ISWL Right Issue;In. in Auth. Cap.;Pref. Issue 11-Jan-22 VIKASPROP Quarterly Results 11-Jan-22
JETINFRA General 11-Jan-22 CSLFINANCE Issue Of Warrants;Pref. Issue of shares 12-Jan-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
AXITA 11-Jan-22 Bonus issue 1:2 AJANTPHARM 13-Jan-22 Buy Back of Shares
GMRINFRA 11-Jan-22 Spin Off BHATIA 13-Jan-22 E.G.M.
SCHABLON 11-Jan-22 Amalgamation INDOAMIN 13-Jan-22 Stock  Split From Rs.10/- to Rs.5/-
SINDHUTRAD 12-Jan-22 E.G.M. INFRATRUST 13-Jan-22 Income Distribution (InvIT)
SMLT 12-Jan-22 Interim Dividend – Rs. – 1.0000 JAMESWARREN 13-Jan-22 Buy Back of Shares

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