Outlook

NIFTY:

NIFTY opened at 17997.75 without much of a gap. The index slightly moved lower in the first hour of trading and recorded its intraday low   at 17964.40. Prices have found support there and bounced up. A rally broke early morning highs and brought the index to its intraday high at 18081.25. The index then again moved sideways for the last two hours of trading but remained above the 18000 level and finally closed at 18055.75 with a gain  of 52.45 points or 0.29% up. We have seen the mixed performance on the sectoral front. The METAL underperformed today and ended nearly 2% lower.IT outperformed today and ended higher by more than 1%.

The short-term trend is up, Support is visible around 17650 while resistance is visible around the lifetime high recorded around 18600 as far as the index is moving above 18000. Our bias will be bullish if the index stays above the 18000 level. Between 17650 – 18000, our view will be sideways. And on a breakdown below 17650, we will be looking for shorting opportunities only. The long-term trend is up now which was sideways before while the long-term momentum is moving within the strength zone.

 

BANK NIFTY:

BANK NIFTY opened at 38370 without much of a gap. The index started drifting downwards from its opening tick and recorded its intraday low at 38031.75. Prices then bounced up from there, broke its early morning highs and recorded its intraday high at 38504.60. The index finally close at38433.55 with again of 89 points. PSU BANKS have seen an underperformance today and ended with a loss of 0.22%.PVT BANKS did not move much today and ended 0.05% higher. Within the index, in terms of points, AU BANK contributed the highest while KOTAK BANK contributed the lowest.

The index opened below 38500 and moved down but did not come at or below 38000. However, a sharp rally after the initial decline brought index a 38500 so our long trade executed there. Since prices did not touch neither stop nor target today so the trade remained intact. Stay long with stop at 38200 and a target at 39200.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
NAUKRI 5638 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 5650 with a stop loss of 5600 and for the target of 5750.
ADANIPORTS 765 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 768 with a stop loss of 760 and target  of 780.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
HCLTECH   1350CE BUY 38 CMP 30 55 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
IPCALAB.Jan 27 1060.8 0.01 1.49 2021400 GMRINFRA.Jan 27 45.05 -7.11 84.06 53797500
CANFINHOME.Jan 27 599.2 0.01 1.68 3953625 SAIL.Jan 27 104.4 -5.18 7.68 1.69E+08
ULTRACEMCO.Jan 27 7625 0.04 0.27 1650800 JINDALSTEL.Jan 27 385.75 -5.05 0.43 34490000
SHREECEM.Jan 27 27081.7 0.05 1.4 171775 JSWSTEEL.Jan 27 649.65 -3.8 7.65 45261450
WIPRO.Jan 27 693.35 0.06 13.02 27984800 TATASTEEL.Jan 27 1136.45 -2.96 2.12 45537050
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
UBL.Jan 27 1602.55 0.02 -1.78 1041950 IDEA.Jan 27 11.8 -21.07 -0.87 7.91E+08
DLF.Jan 27 410 0.05 -1.6 28997100 NATIONALUM.Jan 27 109.05 -3.54 -4.25 99637000
NIFTY.Jan 27 18085.05 0.2 -1.37 10432150 INDIACEM.Jan 27 245.05 -2.51 -1.81 15271400
LT.Jan 27 1966 0.2 -0.04 13148525 JKCEMENT.Jan 27 3466.9 -2.4 -2.67 312375
MARUTI.Jan 27 8149.85 0.23 -0.29 2368300 IBULHSGFIN.Jan 27 222.7 -2.02 -4.72 35197400

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Hindustan Unilever Ltd 2403.65 -0.14 1321335 0 76.21 Nifty 50 18055.75 0.29 76509
Icici Prudential Life In 583.1 -1.12 1842785 0 73.44 Nifty Bank 38442.2 0.25 76509
Voltas Ltd. 1247.05 -0.53 621165 0 67.97 Nifty it 38605.45 1.03 76509
Persistent 4491.95 -0.04 179558 0 67.28 Nifty Auto 11479.7 -0.19 76503
Power Grid Corporation o 203.85 -0.07 5406591 0 66.95 Nifty Metal 5610.35 -1.9 76503
Piind 2866.9 -0.71 284934 0 66.73 India Vix 17.76 0.44 76509
Divi S Laboratories Limi 4516.55 1.14 476123 0 66.42 Nifty Pharma 13854.25 -0.03 76506
Crompton Greaves Consume 444.05 -0.22 1864439 0 65.96 Nifty Fmcg 37849.9 -0.35 76506
Britannia Ind Ltd. 3743.35 -0.66 206008 0 65.77 Nifty Realty 497.95 0.57 76506
Hdfc Ltd. 2710.95 1.93 4169998 0 65.7 Nifty Media 2292.65 -0.04 76503

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

  • The operating margin of India Inc is likely to drop in the December quarter with a 100-120 bps year-on-year decline, as 27/40 sectors are set to see crimped margins despite higher revenue, according to a report. Surging commodity prices and price hikes may help companies report a healthy 16-17 per cent revenue growth to Rs 9.1 lakh crore during the quarter ending December, the Crisil report said on Tuesday.

  • After Vodafone Idea, Tata Teleservices (Maharashtra) on Tuesday said it will opt for conversion of the interest amount on AGR dues into equity and post conversion, the government’s holding in the company is expected to be around 9.5 per cent.

  • Federal Bank subsidiary Fedbank Financial Services Ltd (FedFina) has initiated the process of an initial public offering (IPO), the bank said on Tuesday. The board of directors of the bank FedFina in a meeting on January 11, 2022, has approved initiating the process of an initial public offering (IPO) by way of fresh issue and offer for sale, Federal Bank said in a regulatory filing.

  • The Future Group on Tuesday submitted before the Supreme Court that Future Retail Ltd will sink with its 30,000 employees, if its over Rs 24,000 crore deal with Reliance Retail fails to reach fruition. The Future Group also sought permission from a bench headed by Chief Justice N.V. Ramana to proceed with the deal to sell its retail assets to Reliance Retail.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
CSLFINANCE Issue Of Warrants;Pref. Issue of shares 12-Jan-22 NIRMITEE Increase in Authorised Capital;General 12-Jan-22
EASEMYTRIP Bonus issue 12-Jan-22 PRADHIN Quarterly Results 12-Jan-22
FEDERALBNK General 12-Jan-22 RAJNISH General 12-Jan-22
FILATFASH General 12-Jan-22 ROSELABS Quarterly Results 12-Jan-22
HAZOOR General 12-Jan-22 TATIAGLOB General 12-Jan-22
HKG Bonus issue;General 12-Jan-22 TCS Interim Dividend;Quarterly Results 12-Jan-22
HPCOTTON Issue Of Warrants;Pref. Issue of shares 12-Jan-22 TINNARUBR Quarterly Results 12-Jan-22
INDBANK General;Quarterly Results 12-Jan-22 VIRINCHI Results;Issue Of Warrants;Pref. Issue 12-Jan-22
INDBNK Quarterly Results 12-Jan-22 WIPRO Interim Dividend;Quarterly Results 12-Jan-22
INFY Audited Results;Quarterly Results 12-Jan-22 ATHENAGLO Quarterly Results 13-Jan-22
KDLL Quarterly Results 12-Jan-22 BIRLAMONEY Quarterly Results 13-Jan-22
KOCL Quarterly Results 12-Jan-22 CESC Interim Dividend;Quarterly Results 13-Jan-22
NBFOOT Quarterly Results 12-Jan-22 EUREKAI Quarterly Results 13-Jan-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
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
AJANTPHARM 13-Jan-22 Buy Back of Shares SRIPIPES 13-Jan-22 Amalgamation
BHATIA 13-Jan-22 E.G.M. ASRL 14-Jan-22 Bonus issue 7:10
INDOAMIN 13-Jan-22 Stock  Split From Rs.10/- to Rs.5/- MOTHERSUMI 14-Jan-22 Spin Off

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