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 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.


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.


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


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


   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


  • 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.

  • 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.

  • 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.

  • 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.


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


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

Disclosure in pursuance of Section 19 of SEBI (RA) Regulation 2014

Elite Wealth Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only information in making their investment decision and must exercise their own judgment before making any investment decision.
For analyst certification and other important disclosures, see the Disclosure Appendix, or go to Analysts employed by Elite Wealth Limited are registered/qualified as research analysts with SEBI in India.( SEBI Registration No.: INH100002300)
Disclosure Appendix
Analyst Certification (For Reports)
Israil Khan, Elite Wealth Limited,
The analyst(s) certify that all of the views expressed in this report accurately reflect my/our personal views about the subject company or companies and its or their securities. I/We also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report. Unless otherwise stated, the individuals listed on the cover page of this report are analysts in Elite Wealth Limited.
As to each individual report referenced herein, the primary research analyst(s) named within the report individually certify, with respect to each security or issuer that the analyst covered in the report, that:
(1) all of the views expressed in the report accurately reflect his or her personal views about any and all of the subject securities or issuers; and
(2) no part of any of the research analyst’s compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed in the report.
For individual analyst certifications, please refer to the disclosure section at the end of the attached individual notes.
Research Excerpts
This note may include excerpts from previously published research. For access to the full reports, including analyst certification and important disclosures, investment thesis, valuation methodology, and risks to rating and price targets, please visit
Company-Specific Disclosures
Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting, or emailing with your request. Elite Wealth Limited may screen companies based on Strategy, Technical, and Quantitative Research. For important disclosures for these companies, please e-mail
Options related research:
If the information contained herein regards options related research, such information is available only to persons who have received the proper option risk disclosure documents. For a copy of the risk disclosure documents, please contact your Broker’s Representative or visit the OCC’s website at
Other Disclosures
All research reports made available to clients are simultaneously available on our client websites. Not all research content is redistributed, e-mailed or made available to third-party aggregators. For all research reports available on a particular stock, please contact your respective broker’s sales person.
Ownership and material conflicts of interest Disclosure
Elite Wealth Limited policy prohibits its analysts, professionals reporting to analysts from owning securities of any company in the analyst’s area of coverage. Analyst compensation: Analysts are salary based permanent employees of Elite Wealth Limited. Analyst as officer or director: Elite Wealth Limited policy prohibits its analysts, persons reporting to analysts from serving as an officer, director, board member or employee of any company in the analyst’s area of coverage.
Country Specific Disclosures
India – For private circulation only, not for sale.
Legal Entities Disclosures
Mr. Ravinder Parkash Seth is the Managing Director of Elite Wealth Ltd (EWL, henceforth), having its registered office at Casa Picasso, Golf Course Extension, Near Rajesh Pilot Chowk, Radha Swami, Sector-61, Gurgaon-122001 Haryana, is a SEBI registered Research Analyst and is regulated by Securities and Exchange Board of India. Telephone:011-43035555, Facsimile: 011-22795783 and Website:
EWL discloses all material information about itself including its business activity, disciplinary history, the terms and conditions on which it offers research report, details of associates and such other information as is necessary to take an investment decision, including the following:
1. Reports
a) EWL or his associate or his relative has no financial interest in the subject company and the nature of such financial interest;
(b) EWL or its associates or relatives, have no actual/beneficial ownership of one per cent. or more in the securities of the subject company, at the end of the month immediately preceding the date of publication of the research report or date of the public appearance;
(c) EWL or its associate or his relative, has no other material conflict of interest at the time of publication of the research report or at the time of public appearance;
2. Compensation
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) EWL or its associates have not managed or co-managed public offering of securities for the subject company in the past twelve months;
(c) EWL or its associates have not received any compensation for investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(d) EWL or its associates have not received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(e) EWL or its associates have not received any compensation or other benefits from the Subject Company or third party in connection with the research report.
3 In respect of Public Appearances
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) The subject company is not now or never a client during twelve months preceding the date of distribution of the research report and the types of services provided by EWL