NIFTY:
NIFTY opened at 17323.65 without much of a gap. The index recorded its intraday high at 17351.20 within the first five minutes of trading and then moved down. A sharp decline of almost 150 points within the first one and half hours of trading brought prices to its intraday low at 17192.20.The index then consolidated in the afternoon and then went up again. The rally fizzled out quickly and prices have seen another round of selling in the last one hour of trading and finally closed at 17221.40 with a loss of 103.50points or 0.60% down. All the sectoral indices have closed lower today except the AUTO that ended with a gain of 0.49%.The REALTY, MEDIA, METAL, and IT have led the bears today and ended lower by more than 1%.
The long-term trend is sideways while the long-term momentum bounced up from the weak zone and is now heading towards the strength zone. The Intermediate trend is sideways which was down before while the intermediate momentum has moved down from the strength zone. Both the momentums are now contradicting each other suggesting confusion amongst the traders. We should wait for them to come into sync.
BANK NIFTY:
BANK NIFTY opened at 36929.50 with a gap up of just 36 points. The index first moved down and then finds support. Prices then moved up, recovered from all the loses and recorded its intraday high at 37083.50. Prices then again moved down and then moved up and again down to record its intraday low at 36743.20.The index finally closed at 36767.50 with a loss of just 126 points. PSU BANKS have continued its underperformance and closed with a loss of 1.35%. With the index, in terms of points, KOTAK BANK contributed the highest while FEDERAL BANK contributed the lowest.
The short-term trend is sideways and randomness in the index remain intact. A large trading range is visible inside 35500 – 37500.These are also the recent swing low and swing high levels. Inside these boundaries We should prefer trading only on an intraday basis.
TECHNICAL PICKS
| COMPANY NAME | CMP | B/S | RATIONALE+ |
| APOLLOTYRE | 215 | 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 214 with a stop loss of 220 and for the target of 205. |
| PIIIND | 3087 | 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 3100 with a stop loss of 3060 and target of 3200. |
DERIVATIVE PICKS
| Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| DEEPAKNTR | 2400 | BUY | 54 | CMP | 30 | 80 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| ASTRAL.Dec 30 | 2254.95 | -0.02 | -2.42 | 577225 | IEX.Dec 30 | 263.3 | -6.1 | 21.08 | 35685000 | |
| JKCEMENT.Dec 30 | 3477.55 | -0.16 | -0.2 | 175000 | POLYCAB.Dec 30 | 2468.6 | -3.6 | 0.4 | 672900 | |
| MRF.Dec 30 | 74225 | -0.17 | -0.64 | 66670 | M&MFIN.Dec 30 | 157.65 | -3.37 | 1.81 | 24812000 | |
| HAL.Dec 30 | 1288.15 | -0.42 | -0.95 | 2860450 | GUJGASLTD.Dec 30 | 647.65 | -3.07 | 4.25 | 2268750 | |
| ESCORTS.Dec 30 | 1851.1 | -0.49 | -0.54 | 6114900 | BAJFINANCE.Dec 30 | 6883 | -3.06 | 9.96 | 4403500 | |
| Short Covering | Long Unwinding | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| SRF.Dec 30 | 2166.95 | 0.14 | -0.8 | 3408125 | PFIZER.Dec 30 | 4990 | -4.13 | -3.61 | 213625 | |
| UBL.Dec 30 | 1591.2 | 0.19 | -0.46 | 1222900 | GSPL.Dec 30 | 308.55 | -3.59 | -3.56 | 1521500 | |
| LALPATHLAB.Dec 30 | 3508.15 | 0.32 | -0.84 | 514625 | OFSS.Dec 30 | 4200 | -2.88 | -0.2 | 626250 | |
| INDHOTEL.Dec 30 | 199.8 | 0.33 | -0.99 | 12415914 | OBEROIRLTY.Dec 30 | 865 | -2.81 | -0.4 | 3281600 | |
| METROPOLIS.Dec 30 | 3295.2 | 0.66 | -0.49 | 603800 | CUMMINSIND.Dec 30 | 941.7 | -2.79 | -4.25 | 1404600 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Sbi Card | 897.3 | -0.55 | 3156296 | 0 | 77.94 | Nifty 50 | 17221.4 | -0.6 | 91602 | |
| Infosys Limited | 1734.2 | -1.02 | 3053149 | 0 | 71.36 | Nifty Bank | 36789.55 | -0.28 | 91605 | |
| Icici Lombard General In | 1400.5 | -2.4 | 704620 | 0 | 70.91 | Nifty it | 35737.2 | -1.01 | 91605 | |
| Tata Consultancy Serv Lt | 3570.35 | -1.47 | 1603233 | 0 | 69.65 | India Vix | 17.22 | 1.59 | 91605 | |
| Colgate Palmolive (india | 1449 | -0.68 | 547677 | 0 | 68.81 | Nifty Fmcg | 37424.65 | -0.58 | 91608 | |
| Nippon Life India Asset | 355.15 | -1.26 | 753087 | 0 | 68.4 | Nifty Auto | 11026 | 0.49 | 91608 | |
| Kotak Mahindra Bank Limi | 1867.4 | 1.47 | 5305747 | 0 | 68.27 | Nifty Pharma | 13512.05 | -0.47 | 91608 | |
| Marico Limited | 513.3 | -0.34 | 1205823 | 0 | 67.75 | Nifty Realty | 499.6 | -1.89 | 91608 | |
| Hindustan Unilever Ltd | 2320.95 | 0.11 | 755122 | 0 | 67.73 | Nifty Metal | 5604.1 | -1.11 | 91608 | |
| Dabur India Ltd. | 573.3 | -1.05 | 929113 | 0 | 67.59 | Nifty Media | 2432.95 | -1.35 | 91608 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: FX Reserves, USD on 17th December, 2021
INR: Deposit and Bank Loan Growth Rate on 17th December, 2021 |
•USD: Building Permits (Nov) on 16th December, 2021
•USD: Initial Jobless Claims on 16th December, 2021 |
NEWS UPDATES
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TVS Motor Company on Wednesday and BMW Motorrad on Wednesday announced expansion of their long standing partnership to include joint development of new platforms and future technologies, including electric vehicles. Under the extended scope of partnership, the companies plan to come up with electric vehicle platform in addition to the existing internal combustion platform for both global and domestic markets.
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Telecom major Reliance Jio and Meta (formerly Facebook) on Wednesday said Jio users will soon be able to recharge their subscription using WhatsApp. Speaking at Meta’s Fuel for India 2021 event, Jio Platforms Ltd Director Akash Ambani said Jio and Meta teams are working closely to open more avenues of collaboration.
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The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday has approved an incentive scheme to promote RuPayDebit cards and low-value (up to Rs 2,000) BHIM-UPI transactions in the country. Under the scheme, the acquiring banks will be incentivised by the Government, by way of paying percentage of value of transactions (P2M) done through RuPay Debit cards and low-value BHIM-UPI modes of payments, at an estimated financial outlay of Rs 1,300 crore for a period of one year w.e.f. April 1, 2021.
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India’s Reliance Industries Ltd, operator of the world’s biggest refining complex at Jamnagar in Western India, aims to get the first cargo of oil from its new Abu Dhabi-based trading unit in December, a source familiar with the matter said. Billionaire Mukesh Ambani-backed Reliance group in October announced plans to set up Reliance International Ltd (RINL) to trade in crude oil, petroleum, petrochemical products and agricultural commodities.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint.
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| EASEMYTRIP | General | 16-Dec-21 | TIRUSTA | Preferential Issue of shares;General | 17-Dec-21 |
| GBGLOBAL | General | 16-Dec-21 | HAZOOR | Preferential Issue of shares | 18-Dec-21 |
| KINGSINFR | General | 16-Dec-21 | HILTON | Issue Of Warrants | 18-Dec-21 |
| ALPHALOGIC | Increase in Authorised Cap. ;Pref. Issue | 17-Dec-21 | HIPOLIN | General | 18-Dec-21 |
| AMARJOTHI | General | 17-Dec-21 | INDINFO | Increase in Authorised Capital;General | 18-Dec-21 |
| AURUM | Right Issue of Equity Shares;General | 17-Dec-21 | JPOLYINVST | Voluntary Delisting of Shares | 18-Dec-21 |
| DUKEOFS | General | 17-Dec-21 | VASINFRA | General | 18-Dec-21 |
| MOLDTKPAC | General | 17-Dec-21 | VINCOFE | Preferential Issue of shares | 18-Dec-21 |
| PARSHVA | Bonus issue;General | 17-Dec-21 | ANERI | General | 20-Dec-21 |
| QGO | General | 17-Dec-21 | CRPRISK | Audited Results;Half Yearly Results | 20-Dec-21 |
| REGENTRP | General | 17-Dec-21 | GNRL | General | 20-Dec-21 |
| RRMETAL | General | 17-Dec-21 | HIGHSTREE | General | 20-Dec-21 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| BEARDSELL | 16-Dec-21 | Right Issue of Equity Shares | 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 |
| CHEVIOT | 16-Dec-21 | Buy Back of Shares | VEDL | 16-Dec-21 | Interim Dividend – Rs. – 13.5000 |
| EARUM | 16-Dec-21 | Stock Split From Rs.10/- to Rs.2/- | BAMBINO | 21-Dec-21 | Final Dividend – Rs. – 1.6000 |
| KKCL | 16-Dec-21 | Bonus issue 4:1 | IFINSEC | 22-Dec-21 | E.G.M. |
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