Morning-Outlook-Feature-Image
Outlook-17-12-2021

NIFTY:

NIFTY opened at 17373 with a gap up of 152 points. The index recorded its intraday high at 17379.35 within the first five minutes of trading and then moved down. A sharp decline of almost 200 points brought prices below 17200and then the index started rising. The rally fizzled out quickly and prices have gone down again to record its intraday low at 17184.95. The index has seen a sharp recovery in the last 30 minutes of trading and finally closed at 17248.40 with a gain of just 27 points or 0.16% up. All the sectoral indices have closed lower today except the IT and OIL & GAS.MEDIA was the biggest underperformer that ended nearly 2% lower. The rest of the sectors have incurred a loss of less than 1%.

The long-term trend is sideways while the long-term momentum has turned down today before reaching the strength zone. The Intermediate trend is down again while the intermediate momentum has reached inside the weak zone today. Both the momentums are now moving in the same direction that is the downside, which suggests lower levels are ahead. Till then we should shift our focus to trading only on an intraday basis. Since the bias is bearish so we should be looking to sell  short on a rally and a breakdown.

BANK NIFTY:

BANK NIFTY opened at 37092.95 with a gap up of 325 points. The index recorded its intraday high at 37159.30 and then started drifting downwards. The gap filled and prices have recorded its intraday low at 36385.75. The index consolidated in the afternoon that broke on the downside and prices finally closed at 36585.45 with a loss of 182 points.

PSU BANKS have continued its underperformance and closed with a lossof0.95%.PVT BANKS have also moved down and ended lower by 0.73%.Within the index, in terms of points, HDFC BANK contributed the highest while ICICI BANK contributed the lowest. The short-term trend is sideways and randomness in the index remain intact. We should avoid carry forward trades for the time being and shift our focus on trading intraday basis. We will get a trading opportunity once the index starts a directional move in either side.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
SRF 2216 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 2230 with a stop loss of 2180 and for the target of 2290.
INFY 1771 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 1780 with a stop loss of 1750 and target  of 1840.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
RELIANCE 2440 CE BUY 41 CMP 30 60 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
IOC.Dec 30 116.3 0 1.02 43979000 TORNTPOWER.Dec 30 558.5 -5.99 15.33 4435500
INDUSTOWER.Dec 30 266.05 0.02 3.81 17760400 TVSMOTOR.Dec 30 636.35 -5.96 15.13 10278800
BHARTIARTL.Dec 30 688.5 0.03 3.13 74591300 CROMPTON.Dec 30 420 -2.82 8.58 2616900
JINDALSTEL.Dec 30 398 0.04 1.09 35325000 APLLTD.Dec 30 775.5 -2.62 4.18 1643400
IGL.Dec 30 498.6 0.06 0.95 10106250 NAM-INDIA.Dec 30 347.5 -2.61 9.73 4113600
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
DIVISLAB.Dec 30 4613.1 0.05 -0.7 2484000 IBULHSGFIN.Dec 30 255 -5.1 -0.45 31170500
ADANIPORTS.Dec 30 750.2 0.13 -0.33 87158750 BIOCON.Dec 30 364.55 -3.16 -0.11 20476900
SAIL.Dec 30 114.35 0.22 -0.36 1.51E+08 MCX.Dec 30 1713 -3.02 -0.11 1937950
ADANIENT.Dec 30 1706.1 0.4 -0.02 20382500 STAR.Dec 30 457.75 -2.21 -0.19 5383125
ASTRAL.Dec 30 2280 0.45 -2.3 549725 DALBHARAT.Dec 30 1892.05 -2.2 -1.64 480250

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Sbi Card 916.65 1.6 3203345 0 77.94 Nifty 50 17248.4 -0.44 84123
Infosys Limited 1771.6 1.11 4481031 0 71.36 Nifty Bank 36548.65 -0.94 84129
Icici Lombard General In 1408.45 -1.85 658200 0 70.91 Nifty it 36160.3 0.16 84129
Tata Consultancy Serv Lt 3581.6 -1.16 2072320 0 69.65 Nifty Auto 10945.75 -0.24 84129
Colgate Palmolive (india 1447.1 -0.81 209665 0 68.81 Nifty Metal 5597.15 -1.23 84129
Nippon Life India Asset 345.65 -3.91 2199642 0 68.4 India Vix 15.9 -6.19 84126
Kotak Mahindra Bank Limi 1860.75 1.11 3054462 0 68.27 Nifty Pharma 13393.65 -1.34 84129
Marico Limited 509.5 -1.08 560343 0 67.75 Nifty Fmcg 37244.35 -1.06 84129
Hindustan Unilever Ltd 2309.5 -0.38 926493 0 67.73 Nifty Realty 495.4 -2.71 84129
Dabur India Ltd. 570.25 -1.58 884563 0 67.59 Nifty Media 2389.8 -3.1 84129

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: GDP (QoQ) (Q3) on 22nd December, 2021

•USD: Existing Home Sales (Nov) on 22nd December, 2021

NEWS UPDATES

  • Tata Power on Thursday said its arm TP Saurya has received a ‘Letter of Award’ from Maharashtra State Electricity Distribution Company (MSEDCL) for setting up a 300 MW hybrid (wind & solar) project. TP Saurya Ltd (TPSL), a wholly-owned subsidiary of Tata Power, has received this Letter of Award (LoA) in a bid announced by MSEDCL, a company statement said.

  • BEML Limited has signed a Memorandum of Understanding (MoU) with RITES Limited, a leading transport infrastructure consultancy and engineering company, to explore and jointly bid for opportunities in the fields of Metro systems and export of rolling stock. As part of the MoU, RITES will provide expertise in design, engineering, marketing and any other support that may be required for tapping domestic and overseas opportunities while BEML will be responsible for manufacturing of customised metro coaches and rolling stock a BEML statement said.

  • State-owned CIL on Thursday said it has drawn up plans to boost coal stock at thermal power plants to over 45 million tonnes (MT) from its own sources by the end of the ongoing fiscal. Coal India Ltd (CIL) is aiming for the highest-ever closing stock at power plants, the PSU said in a statement.

  • Torrent Pharmaceuticals Ltd on Thursday said its manufacturing facility at Levittown, Pennsylvania in the US has successfully completed inspection by the USFDA. At the end of the inspection, no ‘Form 483’ was issued, the company said in a regulatory filing.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ALPHALOGIC In. in Auth. Capital;Pref. Issue of shares 17-Dec-21 HAZOOR Preferential Issue of shares 18-Dec-21
AMARJOTHI General 17-Dec-21 HILTON Issue Of Warrants 18-Dec-21
AURUM Right Issue of Equity Shares;General 17-Dec-21 HIPOLIN General 18-Dec-21
BIRET Preferential Issue of shares 17-Dec-21 INDINFO Increase in Authorised Capital;General 18-Dec-21
DUKEOFS General 17-Dec-21 JPOLYINVST Voluntary Delisting of Shares 18-Dec-21
MASTEK Preferential Issue of shares 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
TIRUSTA Preferential Issue of shares;General 17-Dec-21 KILITCH Issue Of Warrants;Pref. Issue of shares 20-Dec-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
VEDL 17-Dec-21 Interim Dividend – Rs. – 13.5000 PRECWIRE 22-Dec-21 Stock  Split From Rs.5/- to Rs.1/-
BAMBINO 21-Dec-21 Final Dividend – Rs. – 1.6000 BCG 23-Dec-21 Final Dividend – Rs. – 0.0500
IFINSEC 22-Dec-21 E.G.M. CANFINHOME 23-Dec-21 Interim Dividend – Rs. – 1.5000
POWERGRID 22-Dec-21 Interim Dividend – Rs. – 4.0000 HIKLASS 23-Dec-21 Stock  Split From Rs.10/- to Rs.5/-
POWERGRID 22-Dec-21 Special Dividend – Rs. – 3.0000 HINDEVER 23-Dec-21 Stock  Split From Rs.10/- to Rs.2/-

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