Morning-Outlook-Feature-Image
Outlook

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

  • 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.

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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