Morning-Outlook-Feature-Image

Outlook-14-12-2021

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

  • 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.

  • 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.

  • 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.

  • 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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