NIFTY:
NIFTY opened at 17619.10 with a gap up of 108 points. The index initially consolidated for the first hour of trading and then broke on the downside. The index recorded its intraday high at 17639.50 and started drifting downwards. A sharp decline of more than 250 points took prices to its intraday low at 17355.95. Prices again consolidated for the last two and half hours of trading and finally closed at 17368.25 near its intraday low with a loss of 143.05 points or 0.82%. All the sectoral indices have closed lower except the IT that ended 0.31% higher. MEDIA and REALTY led the bears today and ended with a loss of more than 1%.
A strong resistance level is now visible around the 17500 – 17600 zone. Prices have been trying to break it on the upside but have not been able to succeed. Moreover, the last few days have been sideways. On the NEWS front, markets are currently dealing with mixed cues. At one end, the encouraging updates on the new COVID variant have eased some pressure however caution ahead of the US Fed meet. Tomorrow we should look for a shorting opportunity. The trade is to sell short below 17300. Keep a stop of 110 points and a target of 240 points from the entry point. In case of a gap down below 17300, apply the first 15 minutes rule.
BANK NIFTY:
BANK NIFTY opened at 37353.20 with a gap up of 249 points. The index rallied further for the first 30 minutes of trading and recoded its intraday high at 37581.05. Prices then consolidate and then broke down. A sharp decline came and prices have recorded its intraday low at 36861.90.
The index consolidated again in the last one and half hours and finally closed at 36962.20 with a loss of 142 points. PSU BANKS have continued its outperformance and closed higher by 262%. PVT BANKS have underperformed today and ended on a flat note Within the index, in terms of points, AXIS BANK contributed the highest while SBIN contributed the lowest.
The last trading day was a narrow range day and we expecting a wide range day today. That did come but on the downside. The index is trading inside a range from last four trading days and finding it difficult to move higher. A breakdown may lead prices to lower level. Tomorrow, we should look to sell short on a breakdown below 36700.
TECHNICAL PICKS
| COMPANY NAME | CMP | B/S | RATIONALE+ |
| HDFCBANK | 1511 | SELL | The stock is on the verge of giving the breakout on the intraday as well as the daily chart. The stock can be sold below 1508 with a stop loss of 1520 and for the target of 1480. |
| BIOCON | 378 | 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 380 with a stop loss of 370 and target of 390. |
DERIVATIVE PICKS
| Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| BSOFT | 520 | BUY | 18 | CMP | 10 | 30 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| HCLTECH.Dec 30 | 1165 | 0.01 | 0.71 | 21569800 | ZEEL.Dec 30 | 359.35 | -3.43 | 2.5 | 84834000 | |
| LUPIN.Dec 30 | 887.15 | 0.09 | 1.1 | 9101800 | IEX.Dec 30 | 286.65 | -2.93 | 2.67 | 26936250 | |
| ULTRACEMCO.Dec 30 | 7462 | 0.1 | 1.42 | 1588600 | BAJFINANCE.Dec 30 | 7263.15 | -2.74 | 6.17 | 4069000 | |
| FSL.Dec 30 | 175.85 | 0.11 | 3.36 | 8242000 | NAUKRI.Dec 30 | 5523 | -2.69 | 10.48 | 1350500 | |
| PAGEIND.Dec 30 | 40145 | 0.18 | 1.36 | 89130 | HINDPETRO.Dec 30 | 301.5 | -2.33 | 0.96 | 11982600 | |
| Short Covering | Long Unwinding | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| MCX.Dec 30 | 1742.95 | 0.01 | -1.25 | 1934800 | IDEA.Dec 30 | 15.45 | -5.79 | -5.28 | 7.01E+08 | |
| AMBUJACEM.Dec 30 | 380 | 0.07 | -0.73 | 12909000 | CANBK.Dec 30 | 218.35 | -2.22 | -0.71 | 51402600 | |
| IBULHSGFIN.Dec 30 | 259.9 | 0.08 | -1.05 | 33545100 | IDFCFIRSTB.Dec 30 | 51.35 | -2 | -0.81 | 1.45E+08 | |
| SRF.Dec 30 | 2163 | 0.08 | -0.05 | 3444375 | GMRINFRA.Dec 30 | 43.3 | -1.81 | -1.69 | 1.37E+08 | |
| PFIZER.Dec 30 | 4891.4 | 0.12 | -2.27 | 204500 | AUROPHARMA.Dec 30 | 696 | -1.51 | -0.07 | 14932450 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Crompton Greaves Consume | 427 | -2.03 | 2063743 | 0 | 78.21 | Nifty 50 | 17368.25 | -0.82 | 80301 | |
| Hdfc Ltd. | 2771.85 | -1.31 | 2661378 | 0 | 78.18 | Nifty Bank | 36925.25 | -0.49 | 80301 | |
| Colgate Palmolive (india | 1426.15 | -0.85 | 448160 | 0 | 73.59 | Nifty it | 36050.55 | 0.31 | 80301 | |
| Icici Lombard General In | 1420.95 | -1.32 | 675222 | 0 | 69.28 | India Vix | 16.57 | 3.18 | 80298 | |
| Godrej Cons Products Ltd | 929.1 | -1.47 | 2373494 | 0 | 67.8 | Nifty Fmcg | 37823.55 | -0.96 | 80301 | |
| Sbi Life Insurance Compa | 1186.65 | 0.94 | 2187282 | 0 | 67.72 | Nifty Pharma | 13432.9 | -0.1 | 80301 | |
| Rec Limited | 136.9 | 0.48 | 7612446 | 0 | 64.8 | Nifty Auto | 11047.15 | -0.3 | 80301 | |
| Hdfc Bank Ltd. | 1511.15 | -0.75 | 5161071 | 0 | 64.36 | Nifty Metal | 5642.8 | -0.28 | 80301 | |
| Power Grid Corporation o | 204.4 | 0.86 | 16236095 | 0 | 64 | Nifty Media | 2428.35 | -1.81 | 80301 | |
| Hdfc Asset Management Co | 2513.9 | -1.41 | 321340 | 0 | 63.84 | Nifty Realty | 512.4 | -1.35 | 80304 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: WPI Inflation (YoY) (Nov) on 14th December, 2021
INR: Trade Balance (Nov) on 15th December, 2021 |
•USD: PPI (MoM) (Nov) on 14th December, 2021
•USD: Retail Sales (MoM) (Nov) on 15th December, 2021 |
NEWS UPDATES
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Recycling firm Gravita India on Monday said it has operationalised its new battery recycling unit near Mundra Port in Gujarat and plans to invest a total of Rs 62 crore to enhance its overall capacity to 48,000 MTPA. In Phase-I, the plant has a capacity of 19,500 MTPA and the company has incurred a capital expenditure of Rs 32 crore on it, out of which Rs 26 crore has been funded through external borrowings and remaining by internal accruals, Gravita India said in a regulatory filing.
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TVS Motor has made fresh investment in the electric bike maker Ultraviolette Automotive. Zoho Corporation has joined along with TVS Motor in the latest round of Series C funding, to support Ultraviolette’s vision of developing high performance mobility solutions for India and global markets, the two wheeler maker said in a regulatory filing. Ultraviolette, which is setting-up its manufacturing and assembling facility in Electronics City, Bengaluru, will utilise this investment towards the production and commercial launch of its high-performance electric motorcycle, the F77, and will roll out the first batch of motorcycles in the first half of 2022.
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Diversified financial group Edelweiss has increased its stake in its associate company — Edelweiss Wealth Management (EWM) to 44.16 per cent. PAG, a leading Asia-focused investment group, continues to be the majority shareholder in EWM with 55.84 per cent stake.
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Ahmedabad based company, Nandan Terry Limited, belonging to Chiripal group, a textile conglomerate, filed draft offer document with the regulators. The Company is engaged in manufacturing of terry towels and toweling products in Gujarat.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint.
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| BHAGCHEM | Right Issue of Equity Shares | 14-Dec-21 | KALPACOMME | General | 15-Dec-21 |
| BIGBLOC | General | 14-Dec-21 | MAHALXSE | General | 15-Dec-21 |
| CANFINHOME | Interim Dividend;General | 14-Dec-21 | ODYCORP | General | 15-Dec-21 |
| ENERGYDEV | General | 14-Dec-21 | PITHP | General | 15-Dec-21 |
| ORCHASP | General | 14-Dec-21 | POWERGRID | Interim Dividend;General | 15-Dec-21 |
| STRLGUA | General | 14-Dec-21 | QUANTDIA | Increase in Authorised Capital;General | 15-Dec-21 |
| AMARSEC | General | 15-Dec-21 | TATIAGLOB | General | 15-Dec-21 |
| BINNY | Quarterly Results | 15-Dec-21 | KINGSINFR | General | 16-Dec-21 |
| BLUECLOUDS | Issue Of Warrants;General | 15-Dec-21 | DUKEOFS | General | 17-Dec-21 |
| BURGERKING | General | 15-Dec-21 | TIRUSTA | Preferential Issue of shares;General | 17-Dec-21 |
| CRESSAN | General | 15-Dec-21 | JPOLYINVST | Voluntary Delisting of Shares | 18-Dec-21 |
| DUGARHOU | General | 15-Dec-21 | VASINFRA | General | 18-Dec-21 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| HINDZINC | 14-Dec-21 | Interim Dividend – Rs. – 18.0000 | CHEVIOT | 16-Dec-21 | Buy Back of Shares |
| NMDC | 14-Dec-21 | Interim Dividend – Rs. – 9.0100 | EARUM | 16-Dec-21 | Stock Split From Rs.10/- to Rs.2/- |
| TTKPRESTIG | 14-Dec-21 | Stock Split From Rs.10/- to Rs.1/- | KKCL | 16-Dec-21 | Bonus issue 4:1 |
| RAJESHEXPO | 15-Dec-21 | Dividend – Rs. – 1.0000 | MPSLTD | 16-Dec-21 | Buy Back of Shares |
| BNRSEC | 16-Dec-21 | Right Issue of Equity Shares | SRD | 16-Dec-21 | Bonus issue 1:1 |
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