Morning-Outlook-Feature-Image
Outlook

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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