Outlook

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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