NIFTY:
NIFTY opened at 17301.05 with a big gap up of 200 points. The index first consolidated in a narrow range and recorded its intraday low at 17364.15. The consolidation broke on the upside and prices have seen a sharp rally of more than 100 points to record its intraday high at 17410. Prices have spent the rest of the day moving sideways. A minor correction came in the last hour of trading and prices have finally closed at 17339.85 near its opening tick with a gain of 238 points or 1.39% up. All the sectoral indices have closed with gains today. REALTY and IT outperformed today and closed with a gain of more than 2%.AUTO also did well today by registering a gain of nearly 2%.
A Tomorrow is a big news event day where the Union Budget will be presented. It will increase the volatility. It is best to avoid trading the index during the budget. On a daily timeframe, the index is holding the support at 17000 from the past few trading days. The short-term trend is sideways and it will be sideways as far as prices are trading between the 17000 – 17300 range.
BANK NIFTY:
BANK NIFTY opened at 38091.80 with a big gap up of 404 points. The index recorded its intraday high at 38217.25 and then started drifting downwards. Prices have filled the gap and then recorded its intraday low at 37647.85. Prices then went up and almost reached at the morning highs. The index consolidated in the last two hour of trading in a tight narrow range and finally closed at 37957.65 with a gain of 270 points. PSU BANKS have significantly outperformed today and ended with a gain of 2.94%.PVT BANKS have closed with marginal gain of just 0.09%.Within the index, in terms of points, HDFC BANK contributed the highest while KOTAK BANK contributed the lowest.
The short-term trend is sideways. As of now we do not have an adequate trading setup. We will get a trading opportunity soon when the volatility cools down.
TECHNICAL PICKS
| COMPANY NAME | CMP | B/S | RATIONALE+ |
| NAUKRI | 4900 | 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 4910 with a stop loss of 4840 and for the target of 5080. |
| HAVELLS | 1184 | 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 bought above 1185 with a stop loss of 1170 and target of 1210. |
DERIVATIVE PICKS
| Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| BSOFT | 480 CE | BUY | 21 | CMP | 15 | 35 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| COROMANDEL.Feb 24 | 779.65 | 0.01 | 1.96 | 1205625 | INDUSINDBK.Feb 24 | 874.25 | -3.6 | 11.34 | 33606000 | |
| INDUSTOWER.Feb 24 | 252.55 | 0.02 | 6.83 | 10119200 | ATUL.Feb 24 | 9533 | -3.49 | 4.46 | 77250 | |
| NMDC.Feb 24 | 138.45 | 0.04 | 1.69 | 78189000 | KOTAKBANK.Feb 24 | 1864.25 | -1.93 | 7.33 | 14419200 | |
| HINDALCO.Feb 24 | 491.25 | 0.05 | 1.38 | 26378350 | VEDL.Feb 24 | 322.85 | -1.82 | 9.09 | 75438500 | |
| ABBOTINDIA.Feb 24 | 16164.6 | 0.13 | 7.24 | 63300 | UPL.Feb 24 | 781.05 | -1.61 | 3.35 | 28921100 | |
| Short Covering | Long Unwinding | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| NBCC.Feb 24 | 46.8 | 0.21 | -0.77 | 29376000 | PIDILITIND.Feb 24 | 2457 | -0.99 | -0.02 | 2707000 | |
| MANAPPURAM.Feb 24 | 156.8 | 0.22 | -1.02 | 18693000 | GLENMARK.Feb 24 | 488.45 | -0.19 | -0.7 | 7323200 | |
| MARUTI.Feb 24 | 8602.1 | 0.3 | -1.52 | 2653800 | ||||||
| BALRAMCHIN.Feb 24 | 423.8 | 0.34 | -0.31 | 6236800 | ||||||
| AARTIIND.Feb 24 | 988.75 | 0.37 | -1.92 | 2080800 | ||||||
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Hindustan Unilever Ltd | 2273.75 | -0.43 | 1639875 | 0 | 73.79 | Nifty 50 | 17339.85 | 1.39 | 79830 | |
| Hdfc Bank Ltd. | 1485.7 | 1.53 | 6421273 | 0 | 73.66 | Nifty it | 34824.55 | 2.87 | 79830 | |
| Dabur India Ltd. | 536.75 | 0.52 | 1749168 | 0 | 70.18 | India Vix | 21.95 | 6.05 | 79830 | |
| Hdfc Ltd. | 2521 | 0.18 | 3306726 | 0 | 69.8 | Nifty Fmcg | 36467.25 | 0.77 | 79827 | |
| Infosys Limited | 1736.2 | 2.97 | 8788872 | 0 | 69.66 | Nifty Auto | 11703.5 | 1.83 | 79827 | |
| Balkrishna Ind. Ltd | 2337.05 | 3.63 | 194481 | 0 | 67.4 | Nifty Pharma | 13179.9 | 1.52 | 79827 | |
| Coromandel International | 789.45 | 0.34 | 223234 | 0 | 65.72 | Nifty Metal | 5473.45 | 0.14 | 79827 | |
| Crompton Greaves Consume | 424.45 | 2.31 | 3276800 | 0 | 63.76 | Nifty Media | 2235.35 | 1.4 | 79827 | |
| Alkem | 3539.15 | 3.58 | 156564 | 0 | 63.03 | Nifty Realty | 480.25 | 3.14 | 79827 | |
| Power Grid Corporation o | 215.4 | 2.47 | 14930820 | 0 | 61.24 | Nifty Financial Services | 17836.25 | 0.92 | 79827 | |
| Godrej Cons Products Ltd | 888.3 | 0.83 | 399856 | 0 | 61.19 | |||||
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: Nikkei Markit Manufacturing PMI (Jan) on 1st February, 2022
INR: Preliminary Trade Data on 1st February, 2022 |
•USD: ISM Manufacturing PMI (Jan) on 1st February 2022
•USD: Crude Oil Inventories on 2nd February 2022 |
NEWS UPDATES
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Adani Total Gas Ltd won city gas rights in 14 out of the 52 geographical areas (GAs) for which Petroleum and Natural Gas Regulatory Board (PNGRB) declared results on Friday. Hyderabad-based Megha Engineering and Infrastructure Ltd (MEIL) won 13 GAs, while state-owned Indian Oil Corporation (IOC) was adjudged winner in 8 GAs. As many as 65 GAs were offered for bidding in the 11th city gas distribution (CGD) licensing round. Of this, bids were received for 61 GAs but results for only 52 GAs were announced on Friday.
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Happiest Minds Technologies Ltd on Friday reported a 16.1 per cent jump in consolidated net profit to Rs 48.92 crore for the December 2021 quarter. The company had posted a net profit of Rs 42.15 crore in the year-ago period. Its revenue during October-December 2021 grew 47.2 per cent to Rs 283.94 crore as compared with Rs 192.84 crore in the year-ago period, a regulatory filing said.
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Oberoi Realty Ltd reported a 63 per cent increase in its consolidated net profit at Rs 467.53 crore for the quarter ended December. Its net profit stood at Rs 286.65 crore in the year-ago period. Total income rose to Rs 846.19 crore during October-December period of this fiscal year from Rs 837.57 crore in the corresponding period of the previous year.
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Larsen & Toubro Ltd.’s third-quarter revenue rose as orders picked up with an improvement in construction activities. Revenue of India’s largest engineering-to-construction company increased 11.1% year-on-year to Rs 39,562.9 crore in the three months ended December, according to an exchange filing. That compares with the Rs 39,732.25-crore consensus estimate of analysts tracked by Bloomberg. Net profit fell 16.7% to Rs 2,055 crore, compared with the estimated Rs 2,392.74 crore.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint.
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| ADANIPORTS | Quarterly Results | 01-Feb-22 | KBCGLOBAL | General;Quarterly Results | 01-Feb-22 |
| ARTEMISMED | Quarterly Results | 01-Feb-22 | LXCHEM | Quarterly Results | 01-Feb-22 |
| CANTABIL | Quarterly Results | 01-Feb-22 | NEULANDLAB | General;Quarterly Results | 01-Feb-22 |
| CELEBRITY | Quarterly Results | 01-Feb-22 | ORIENTCQ | Quarterly Results | 01-Feb-22 |
| CHOLAFIN | Quarterly Results | 01-Feb-22 | PANACEABIO | General | 01-Feb-22 |
| FIBERWEB | Preferential Issue of shares | 01-Feb-22 | PGHH | Interim Dividend;Quarterly Results | 01-Feb-22 |
| GOODYEAR | Quarterly Results | 01-Feb-22 | POONAWALLA | Quarterly Results | 01-Feb-22 |
| HGIND | Quarterly Results | 01-Feb-22 | PRSMJOHNSN | Quarterly Results | 01-Feb-22 |
| IFBIND | Quarterly Results | 01-Feb-22 | SONACOMS | Interim Dividend;Quarterly Results | 01-Feb-22 |
| INDHOTEL | Quarterly Results | 01-Feb-22 | TECHM | Quarterly Results | 01-Feb-22 |
| INDOCO | Quarterly Results | 01-Feb-22 | TRITURBINE | Quarterly Results | 01-Feb-22 |
| KANSAINER | Quarterly Results | 01-Feb-22 | TTKPRESTIG | Interim Dividend;Quarterly Results | 01-Feb-22 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| INDIGRID | 01-Feb-22 | Income Distribution (InvIT) | PGINVIT | 02-Feb-22 | Income Distribution (InvIT) |
| ORIENTELEC | 01-Feb-22 | Interim Dividend – Rs. – 0.7500 | SHARDACROP | 02-Feb-22 | Interim Dividend – Rs. – 3.00 |
| PCBL | 01-Feb-22 | Interim Dividend – Rs. – 10.00 | SHAREINDIA | 02-Feb-22 | Interim Dividend – Rs. – 2.00 |
| CONCOR | 02-Feb-22 | Interim Dividend – Rs. – 2.00 | TORNTPHARM | 02-Feb-22 | Interim Dividend – Rs. – 25.00 |
| COSMOFILMS | 02-Feb-22 | Interim Dividend – Rs. – 10.00 | WENDT | 02-Feb-22 | Interim Dividend – Rs. – 20.00 |
| HAZOOR | 02-Feb-22 | E.G.M. | ACCELYA | 03-Feb-22 | Interim Dividend – Rs. – 17.00 |
| NGIL | 02-Feb-22 | E.G.M. | BIGBLOC | 03-Feb-22 | Interim Dividend – Rs. – 0.10 |
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