NIFTY:
NIFTY opened at 17396.55 with a gap up of 74 points. The index initially went higher, faces strong resistance, and recorded its intraday high at 17442.90. Prices then started drifting downwards, saw a sharp intraday decline of more than 200 points, and recorded its intraday low at 17235.85. The index again moved up from that low. A rally brought prices above 17400 but then fizzled out quickly and moved down again to finally close at 17304.60 with a loss of 17.60 points or 0.10% down. FMCG and OIL GAS outperformed today and closed with gains. All the other sectoral indices have closed lower led by the BANK, PHARMA, and IT.
Tomorrow, we should look for a shorting opportunity. The idea is to wait till 09:30 AM and then sell short below the low recorded in the first 15 minutes of 17250 (choose the lowest value). Keep a stop of 110 points and a target of 230 points from your entry price. As mentioned yesterday, 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.
BANK NIFTY:
BANK NIFTY opened at 38042.10 with a gap up of 179 points. Prices initially moved further on the upside and recorded its intraday high at 38124.50. Prices then moved down sharply and then saw a pullback and then started a process of consolidation. The index again moved downside and recorded its intraday low at 37425.60. Prices finally closed at 37458.90 with a loss of 405 points. PVT and PSU BANKS both indices have performed almost same today, saw a sharp intraday decline and closed lower by 1.18% & 1.19% respectively. Within the index, in terms of points, ICICI BANK contributed the highest on the downside followed by the AXIS BANK.
It was a trend day today but, on the downside, where prices have recorded its intraday high near the opening tick and intraday low near the closing tick. The short term trend remained sideways. The support is visible around 36800. Resistance is visible around 39000.
TECHNICAL PICKS
| COMPANY NAME | CMP | B/S | RATIONALE+ |
| ONGC | 171 | 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 171.50 with a stop loss of 169 and for the target of 174. |
| TITAN | 2493 | 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 2500 with a stop loss of 2480 and target of 2550. |
DERIVATIVE PICKS
| Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| VOLTAS | 1220 CE | BUY | 19 | CMP | 12 | 30 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| ESCORTS.Feb 24 | 1855.7 | 0.03 | 0.07 | 6430050 | MUTHOOTFIN.Feb 24 | 1308.9 | -3.39 | 4.83 | 4058625 | |
| WIPRO.Feb 24 | 563.6 | 0.04 | 2.96 | 34687200 | INDIAMART.Feb 24 | 4803 | -3.31 | 5.31 | 359775 | |
| SBILIFE.Feb 24 | 1122.9 | 0.08 | 5.5 | 6446250 | HINDCOPPER.Feb 24 | 125.3 | -3.28 | 0.08 | 16185200 | |
| TECHM.Feb 24 | 1444 | 0.1 | 1.02 | 14758200 | APLLTD.Feb 24 | 715.55 | -3.06 | 4.54 | 1916600 | |
| TITAN.Feb 24 | 2491.3 | 0.12 | 2.17 | 4998375 | MANAPPURAM.Feb 24 | 121.9 | -3.02 | 5.21 | 23865000 | |
| Short Covering | Long Unwinding | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| GAIL.Feb 24 | 139.7 | 0.18 | -0.85 | 27126700 | OFSS.Feb 24 | 3581.9 | -2.51 | -0.58 | 603500 | |
| GODREJCP.Feb 24 | 831.05 | 0.25 | -0.32 | 5075500 | ASTRAL.Feb 24 | 1873 | -1.9 | -0.85 | 1030700 | |
| VEDL.Feb 24 | 369.2 | 0.34 | -1.17 | 68968800 | NMDC.Feb 24 | 144.6 | -1.83 | -0.06 | 78617800 | |
| POWERGRID.Feb 24 | 197.5 | 0.36 | -1.5 | 34285857 | AXISBANK.Feb 24 | 782.35 | -1.73 | -2.77 | 34027200 | |
| DALBHARAT.Feb 24 | 1841.8 | 0.52 | -0.32 | 470750 | DEEPAKNTR.Feb 24 | 2083.25 | -1.63 | -0.55 | 1769250 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Cummins India Limited | 985.2 | 2.89 | 1504969 | 0 | 75.85 | Nifty 50 | 17304.6 | -0.1 | 79470 | |
| Pfizer Ltd. | 4374.05 | -1 | 15245 | 0 | 75.2 | Nifty Bank | 37531.65 | -1.11 | 79470 | |
| Infosys Limited | 1724.8 | -0.49 | 3937950 | 0 | 71.85 | Nifty it | 34634.1 | -0.48 | 79470 | |
| Abb Limited | 2055.9 | 1.11 | 350822 | 0 | 70.64 | Nifty Auto | 11492.85 | -0.15 | 79467 | |
| Marico Limited | 506.15 | 1.19 | 855936 | 0 | 70.4 | Nifty Metal | 5793.4 | -0.32 | 79467 | |
| Hindustan Unilever Ltd | 2307.55 | 0.92 | 869374 | 0 | 67.87 | India Vix | 22.01 | 6.9 | 79470 | |
| Escorts India Ltd. | 1856.7 | 0.08 | 510769 | 0 | 65.97 | Nifty Fmcg | 36571.7 | 0.3 | 79467 | |
| Hdfc Ltd. | 2411.8 | 2.03 | 5317679 | 0 | 65.4 | Nifty Media | 2178.35 | -0.75 | 79467 | |
| Colgate Palmolive (india | 1420.2 | -0.57 | 263567 | 0 | 65.07 | Nifty Pharma | 13324.4 | -0.75 | 79467 | |
| Whirlpool | 1721.35 | -0.22 | 63927 | 0 | 63.73 | Nifty Realty | 454.7 | -0.24 | 79467 | |
| Crompton Greaves Consume | 394.95 | -0.88 | 1959651 | 0 | 62.61 | Nifty Financial Services | 17479.35 | -0.37 | 79467 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: FX Reserves on 18th February, 2022 | •USD: Existing Home Sales (Jan) on 18th February 2022
•USD: Fed Monetary Policy Report on 18th February 2022 |
NEWS UPDATES
- Vedanta on Thursday said it has signed a pact with TERI to accelerate its Environmental, social, and governance (ESG) goals. Vedanta plans to invest around Rs 200 crore over the next five to 10 years on R&D and sustainability initiatives to promote and build a sustainable ecosystem.
- Reliance Industries Ltd (RIL) has listed its existing foreign currency bonds aggregating over USD 7 billion on India INX, making it the largest such listing by a private entity in India INX and GIFT IFSC. The securities include the USD 4 billion worth jumbo bonds raised in January 2022, which was termed as the largest ever foreign currency bond issuance by an Indian entity.
- Hinduja flagship Ashok Leyland is eyeing a strong comeback in the commercial vehicle segment this year as it looks to consolidate its position in the intermediate commercial vehicle (ICV) segment and reap benefits of enhanced demand for its modular AVTR range, according to a top company official. The Chennai-based company is also betting on overall improvement in the economic situation and a gradual easing of supply chain issues to cross 30 per cent market share in the commercial vehicle (CV) segment in 2022-23.
- BSE Ebix Insurance Broking, a joint venture of BSE and Ebix Fincorp Exchange Pte Ltd, on Thursday announced signing of an insurance broker agreement for the distribution of Life Insurance Corporation’s (LIC) products on its platform. Under this agreement, BSE Ebix will offer their clients insurance products offered by LIC such as Life and Health, using its omni-channel digital presence, the exchange said in a statement.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint.
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| BALFC | Stock Split | 18-Feb-22 | KALPATPOWR | General | 19-Feb-22 |
| ESCORTS | Reduction of Capital;General | 18-Feb-22 | SIPTL | General | 19-Feb-22 |
| HATSUN | General | 18-Feb-22 | TOYAMIND | General | 19-Feb-22 |
| JOHNPHARMA | Bonus issue | 18-Feb-22 | TRIVENIGQ | General | 19-Feb-22 |
| RELTD | Issue Of Warrants | 18-Feb-22 | VISHWARAJ | Right Issue of Equity Shares | 19-Feb-22 |
| RSYSTEMINT | Audited Results;General | 18-Feb-22 | BRAHMINFRA | Quarterly Results | 21-Feb-22 |
| SANTETX | General | 18-Feb-22 | IBINFO | General | 21-Feb-22 |
| SPSINT | General;Preferential Issue of shares | 18-Feb-22 | JONJUA | General | 21-Feb-22 |
| VIJAYTX | Quarterly Results | 18-Feb-22 | MCLOUD | ESOP;In. in Auth. Cap.; Warrants;Pref. Issue | 21-Feb-22 |
| 7NR | Increase in Authorised Capital;Pref. Issue | 19-Feb-22 | NATURAL | General | 21-Feb-22 |
| ADVIKLA | General | 19-Feb-22 | OBCL | General | 21-Feb-22 |
| AISHWARYA | Quarterly Results | 19-Feb-22 | RAJOOENG | General | 21-Feb-22 |
| CHEMCRUX | General | 19-Feb-22 | SUPRAP | General | 21-Feb-22 |
| JMCPROJECT | General | 19-Feb-22 | ADJIA | General | 22-Feb-22 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| ALFL | 18-Feb-22 | E.G.M. | PITTIENG | 18-Feb-22 | Interim Dividend – Rs. – 0.40 |
| AMRUTANJAN | 18-Feb-22 | Interim Dividend – Rs. – 1.00 | SHYAMMETL | 18-Feb-22 | Interim Dividend – Rs. – 2.2500 |
| AUROPHARMA | 18-Feb-22 | Interim Dividend – Rs. – 1.50 | TALBROAUTO | 18-Feb-22 | Interim Dividend – Rs. – 1.00 |
| BIRET | 18-Feb-22 | Income Distribution RITES | BALKRISIND | 21-Feb-22 | Special Dividend – Rs. – 12.00 |
| GULFOILLUB | 18-Feb-22 | Buy Back of Shares | BALKRISIND | 21-Feb-22 | Interim Dividend – Rs. – 4.00 |
| MAANALU | 18-Feb-22 | Interim Dividend – Rs. – 1.00 | CARBORUNIV | 21-Feb-22 | Interim Dividend – Rs. – 1.50 |
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