NIFTY:
NIFTY opened at 17408.45 with a gap up of 56 points. The index initially went down more than 200 points, filled the gap, and recorded its intraday low at 16257.70. Prices found support there and then started moving on the upside. The index received all the losses, rallied more than 200 points, and recorded its intraday high at 17490.60. The index again moved down in the last hour of trading and came close to its intraday lows. Prices have finally closed at 17322.20 with a loss of 30.25 points or 0.17% down. REALTY and OIL GAS led the bulls today and closed with gains today while BANK and METAL have led the bears today. FINANCIAL and FMCG closed without much of a change.
We are expecting a process of consolidation here. On a broader side, support is visible around 16800 while resistance is visible around 17600. We are expecting that this range should continue for the next few weeks. Moreover, on previous occasions, a zone inside 17200 17300 had acted as a strong support zone. The zone may also hold this time. The volatility is very high since the Volatility Index ‘INDIA VIX’ is still moving above level 20. We should now wait for prices to stabilize and form a range. Till then avoid trading the index.
BANK NIFTY:
BANK NIFTY opened at 38296.50 with a gap up of 144 points. Prices initially moved down, filled the gap and recorded its intraday low 37762.80. Prices then started moving higher saw a sharp intraday rally of almost 700 points and recorded its intraday high at 37762.80. The index again moved downside, came almost at its intraday low and finally closed at 37863.65 with a loss of 289 points. PSU BANKS have underperformed today and closed with a loss of 1.17%. PVT BANKS have also moved down today and ended with a loss of 0.42%. Within the index, in terms of points, KOTAK BANK contributed the highest while ICICI BANK contributed the lowest.
The index has seen three moved of more than 600 points. Two were down and one was up. The short term trend remained sideways while the support is visible around 36800. Resistance is visible around 39000.
TECHNICAL PICKS
| COMPANY NAME | CMP | B/S | RATIONALE+ |
| BALAMINES | 3047 | 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 3050 with a stop loss of 3000 and for the target of 3120. |
| ASTRAL | 1905 | BUY | The immediate trend of the script is bearish. There is a negative cross over of moving averages as well as of the indicators therefore it can be sell below 1900 with a stop loss of 1925 and target of 1880. |
DERIVATIVE PICKS
| Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| RELIANCE | 2400 CE | BUY | 41 | CMP | 25 | 70 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| TVSMOTOR.Feb 24 | 664.1 | -0.08 | -0.44 | 9203600 | INDUSINDBK.Feb 24 | 968.5 | -0.38 | 0.06 | 23498100 | |
| GAIL.Feb 24 | 138.8 | -0.43 | -0.5 | 27797700 | MCDOWELL-N.Feb 24 | 850.1 | -0.46 | 0.08 | 15135000 | |
| AARTIIND.Feb 24 | 980.15 | -0.55 | -0.17 | 2536400 | ASHOKLEY.Feb 24 | 127.85 | -0.54 | 0.11 | 28170000 | |
| SBICARD.Feb 24 | 835.9 | -0.61 | -0.99 | 4644000 | HDFCAMC.Feb 24 | 2202.05 | -0.19 | 0.16 | 2758400 | |
| OFSS.Feb 24 | 3667.45 | -0.63 | -0.16 | 612375 | VEDL.Feb 24 | 367 | -1.71 | 0.34 | 71758800 | |
| Short Covering | Long Unwinding | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| BERGEPAINT.Feb 24 | 724.75 | 0.09 | -0.35 | 4013900 | BANKBARODA.Feb 24 | 107 | -3.17 | -1.57 | 1.21E+08 | |
| INDIAMART.Feb 24 | 4961.75 | 0.12 | -0.04 | 353475 | HINDCOPPER.Feb 24 | 128.85 | -2.42 | -0.61 | 16899000 | |
| SAIL.Feb 24 | 98.6 | 0.25 | -1.08 | 1.3E+08 | DELTACORP.Feb 24 | 273.6 | -1.48 | -1.2 | 13436600 | |
| IRCTC.Feb 24 | 824.4 | 0.37 | -0.78 | 9949625 | HINDALCO.Feb 24 | 528.2 | -1.36 | -1.04 | 30670825 | |
| ESCORTS.Feb 24 | 1852.2 | 0.46 | -1.33 | 6590650 | BANDHANBNK.Feb 24 | 322.45 | -1.32 | -0.77 | 19087200 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Icici Prudential Life In | 502.75 | -0.86 | 4242647 | 0 | 78.28 | Nifty 50 | 17322.2 | -0.17 | 83733 | |
| Hdfc Ltd. | 2363.85 | 1.01 | 8005225 | 0 | 71.37 | Nifty Bank | 37953.8 | -0.57 | 83733 | |
| Abb Limited | 2033.3 | -0.61 | 565198 | 0 | 71.19 | Nifty it | 34801.95 | -0.32 | 83733 | |
| Escorts India Ltd. | 1855.3 | 0.79 | 486222 | 0 | 65.13 | Nifty Pharma | 13425.1 | 0.51 | 83733 | |
| Coromandel International | 801.2 | 1.59 | 245992 | 0 | 64.57 | Nifty Auto | 11509.7 | -0.37 | 83733 | |
| Havells India Limited | 1206.4 | 1.4 | 623551 | 0 | 63.78 | India Vix | 20.59 | -0.1 | 83733 | |
| Hdfc Bank Ltd. | 1515.75 | -0.14 | 5016132 | 0 | 63.13 | Nifty Metal | 5812.15 | -0.57 | 83733 | |
| Icici Lombard General In | 1287.1 | -0.62 | 427094 | 0 | 62.71 | Nifty Fmcg | 36460.75 | 0.06 | 83733 | |
| Power Grid Corporation o | 196.3 | -3.51 | 15202546 | 0 | 62.58 | Nifty Media | 2194.75 | -0.6 | 83733 | |
| Infosys Limited | 1733.3 | -0.28 | 5350642 | 0 | 60.41 | Nifty Realty | 455.8 | 1.13 | 83733 | |
| Colgate Palmolive (india | 1428.4 | 0.21 | 246533 | 0 | 59.72 | Nifty Financial Services | 17544.25 | -0.23 | 83733 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: FX Reserves on 18th February, 2022 | •USD: Building Permits (Jan) on 17th February 2022
•USD: Initial Jobless Claims on 17th February 2022 |
NEWS UPDATES
- Global rating agency Moody’s has changed the outlook from “stable” to “negative” on Vedanta Resources Ltd (VRL) reflecting large near-term refinancing requirements amid tightening liquidity in the capital markets. It, however, affirmed VRL’s “B2” corporate family rating (CFR) and the B3 rating on the senior unsecured notes issued by VRL and those by Vedanta Resources Finance II Plc.
- State-owned GAIL India Ltd plans to lay a pipeline to Srinagar to take the environmentally friendly natural gas to the Kashmir Valley as it doubles down on efforts to expand infrastructure to helm the government vision of a gas-based economy, its chairman and managing director Manoj Jain said. GAIL will by May 2023 complete a 700-km pipeline from Mumbai to Nagpur, enabling the flow of gas to central India and is on track to meeting the target of mid-2022 for completing major portions of the ambitious Urja Ganga project, bringing eastern India on the energy map, he said.
- Minister of Petroleum and Natural Gas Hardeep Singh Puri hopes to replicate the success of Air India divestment in the much delayed sale of the state run-oil marketing company Bharat Petroleum Corporation Ltd (BPCL), the minister said in an exclusive interview to CNBC-TV18. The Indian government had ambitious plans to sell its entire 53% stake in BPCL to private players in 2021-22, but delays have moved this target to 2022-23. Potential buyers who showed interest– Anil Agarwal-led Vedanta Group, Apollo Global Management and private equity major I Squared Capital-backed Think Gas– are yet to find partners to finance the deal.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint.
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| AMBUJACEM | Quarterly Results | 17-Feb-22 | RSYSTEMINT | Audited Results;General | 18-Feb-22 |
| HPCOTTON | Issue Of Warrants;Pref. Issue of shares | 17-Feb-22 | SPSINT | General;Preferential Issue of shares | 18-Feb-22 |
| INDRENEW | Preferential Issue of shares | 17-Feb-22 | VIJAYTX | Quarterly Results | 18-Feb-22 |
| KAPASHI | General;Preferential Issue of shares | 17-Feb-22 | 7NR | Increase in Authorised Capital;Pref. Issue | 19-Feb-22 |
| NESTLEIND | Final Dividend;Quarterly Results | 17-Feb-22 | ADVIKLA | General | 19-Feb-22 |
| PRISMX | Right Issue of Equity Shares | 17-Feb-22 | AISHWARYA | Quarterly Results | 19-Feb-22 |
| PSB | Preferential Issue of shares | 17-Feb-22 | SIPTL | General | 19-Feb-22 |
| VERITAS | Quarterly Results | 17-Feb-22 | TRIVENIGQ | General | 19-Feb-22 |
| WANBURY | Preferential Issue of shares | 17-Feb-22 | VISHWARAJ | Right Issue of Equity Shares | 19-Feb-22 |
| BALFC | Stock Split | 18-Feb-22 | BRAHMINFRA | Quarterly Results | 21-Feb-22 |
| HATSUN | General | 18-Feb-22 | IBINFO | General | 21-Feb-22 |
| HUHTAMAKI | Audited Results;Final Dividend | 18-Feb-22 | JONJUA | General | 21-Feb-22 |
| JOHNPHARMA | Bonus issue | 18-Feb-22 | MCLOUD | ESOP;In. in Auth. Capital;IWarrants;Pref. | 21-Feb-22 |
| RELTD | Issue Of Warrants | 18-Feb-22 | OBCL | General | 21-Feb-22 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| AEGISLOG | 17-Feb-22 | Interim Dividend – Rs. – 2.00 | GOLDIAM | 17-Feb-22 | Interim Dividend – Rs. – 3.00 |
| ANUPAM | 17-Feb-22 | Bonus issue 1:10 | GRANULES | 17-Feb-22 | Interim Dividend – Rs. – 0.2500 |
| CAMS | 17-Feb-22 | Interim Dividend – Rs. – 10.7500 | HAL | 17-Feb-22 | Interim Dividend – Rs. – 26.00 |
| ESABINDIA | 17-Feb-22 | Interim Dividend – Rs. – 18.00 | IRCTC | 17-Feb-22 | Interim Dividend – Rs. – 2.00 |
| FDC | 17-Feb-22 | Buy Back of Shares | ISTRNETWK | 17-Feb-22 | E.G.M. |
| FSL | 17-Feb-22 | Interim Dividend – Rs. – 3.50 | JMFINANCIL | 17-Feb-22 | Interim Dividend – Rs. – 0.50 |
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