NIFTY:
NIFTY opened at 17276 without much of a gap. The index recorded its intraday high at 17298.15 within the first five minutes of trading and then started drifting downwards. A sharp decline of almost 300 points brought prices near 17000 and then the index started a process of consolidation. That consolidation broke on the upside and prices have started rising. The rally fizzled out quickly and prices saw another down move and the index recorded its intraday low at 16966.45. Prices have finally closed at 16985.20 with a loss of 263.20 points or 1.53% down. All the sectoral indices have closed lower today except the IT that ended with a gain of 1.35%. The rest of the sectors have incurred a loss of more than.
The long-term trend is sideways while the long-term momentum has turned down today before reaching the strength zone. The Intermediate trend is down again while the intermediate momentum has reached inside the weak zone. Both the momentums are now moving in the same direction that is the downside, which suggests lower levels are ahead.
BANK NIFTY:
BANK NIFTY opened at 36491.80 with a gap down of 94 points. The index recorded its intraday high at 36550.75 near the opening tick and then started drifting downwards. The decline continued for the whole day. A consolidation in the afternoon broke on the downside and the index finally closed at 35679.85 with a loss of 906 points. PSU BANKS have continued its underperformance and closed with a loss of 3.64%. PVT BANKS have also moved down and ended lower by 2.70%. Within the index, in terms of points, INDUSND BANK contributed the highest on the downside followed by RBL BANK.
The short-term trend is sideways and randomness in the index remain intact. We should avoid carry forward trades for the time being and shift our focus on trading intraday basis. We will get a trading opportunity once the index starts a directional move in either side.
TECHNICAL PICKS
| COMPANY NAME | CMP | B/S | RATIONALE+ |
| WIPRO | 670 | 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 672 with a stop loss of 665 and for the target of 680. |
| JUBLFOOD | 3553 | SELL | The immediate trend of the script is bearish. There is a negative cross over of moving averages as well as of the indicators therefore it can be sold below 3550 with a stop loss of 3590 and target of 3480. |
DERIVATIVE PICKS
| Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| JINDALSTEL | 380 PE | BUY | 8 | CMP | 5 | 15 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| MINDTREE.Dec 30 | 4607.25 | -0.2 | -0.94 | 2288000 | APOLLOHOSP.Dec 30 | 4800.35 | -8.14 | 1.78 | 2322000 | |
| GAIL.Dec 30 | 129.15 | -0.31 | -0.82 | 44511700 | IBULHSGFIN.Dec 30 | 234.1 | -8.12 | 2.89 | 29264000 | |
| JSWSTEEL.Dec 30 | 661.55 | -0.31 | -0.62 | 42033600 | ZEEL.Dec 30 | 344.2 | -6.92 | 3.42 | 93081000 | |
| HINDALCO.Dec 30 | 450.95 | -0.36 | -2.73 | 26841675 | MOTHERSUMI.Dec 30 | 213.2 | -5.48 | 0.99 | 29176000 | |
| NAVINFLUOR.Dec 30 | 4002.3 | -0.5 | -4.18 | 516375 | RBLBANK.Dec 30 | 179.6 | -4.44 | 2.11 | 30084600 | |
| Short Covering | Long Unwinding | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| TCS.Dec 30 | 3595.6 | -0.08 | 1.8 | 10410000 | BHEL.Dec 30 | 60.35 | -7.79 | -2.47 | 1.12E+08 | |
| BRITANNIA.Dec 30 | 3538.85 | -0.76 | 0.48 | 1375000 | STAR.Dec 30 | 421.55 | -7.7 | -5.36 | 4959225 | |
| NESTLEIND.Dec 30 | 19095.85 | -0.94 | 2.62 | 293825 | CANFINHOME.Dec 30 | 548.3 | -6.76 | -2.36 | 4195425 | |
| LTTS.Dec 30 | 5471 | -1.47 | 0.75 | 565400 | CHOLAFIN.Dec 30 | 511.6 | -6.37 | -1.59 | 7967500 | |
| OFSS.Dec 30 | 4144.3 | -1.62 | 0.34 | 629750 | GODREJPROP.Dec 30 | 1893.65 | -5.73 | -0.45 | 3070600 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Divi S Laboratories | 4511.45 | -1.96 | 424694 | 246693 | 77.22 | Nifty 50 | 16985.2 | -1.53 | 42408792 | |
| Tata Consultancy Serv Lt | 3584.35 | 0.08 | 4333992 | 2677223 | 75.32 | Nifty Bank | 35618.65 | -2.54 | 20147592 | |
| Hdfc Ltd. | 2617.35 | -3.05 | 4503515 | 3239567 | 74.97 | Nifty it | 36647.9 | 1.35 | 3178696 | |
| Bharti Airtel Limited | 666.05 | -2.25 | 13850460 | 8714035 | 69.75 | Nifty Fmcg | 36438 | -2.17 | 581407 | |
| Gujarat State Petronet l | 296.8 | -2.8 | 1101170 | 374472 | 69.7 | India Vix | 16.34 | 2.77 | 4.44E+08 | |
| Hindustan Unilever Ltd | 2230.25 | -3.43 | 2439222 | 1560572 | 67.56 | Nifty Pharma | 13230.7 | -1.22 | 54545825 | |
| Ntpc Limited | 125.55 | -1.45 | 13041775 | 7949271 | 67.49 | Nifty Auto | 10678.65 | -2.44 | 67264399 | |
| Icici Lombard General In | 1358.75 | -3.53 | 1499248 | 1013057 | 65.96 | Nifty Metal | 5476.8 | -2.15 | 1.31E+08 | |
| Page Industries Limited | 38776.2 | -3.74 | 18366 | 6584 | 65.74 | Nifty Media | 2276.5 | -4.74 | 3.12E+08 | |
| Dabur India Ltd. | 570.25 | -1.58 | 884563 | 0 | 67.59 | Nifty Services Sector | 24008.9 | -1.26 | 30001156 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: FX Reserves, USD on 24th December, 2021
INR: Deposit and Bank Loan Growth Rate on 24th December, 2021 |
•USD: GDP (QoQ) (Q3) on 22nd December, 2021
•USD: Existing Home Sales (Nov) on 22nd December, 2021 |
NEWS UPDATES
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Zee Entertainment Enterprises (ZEEL) is in the final stages of completing the due diligence for its proposed merger with Sony Pictures Networks India (SPNI), a subsidiary of Japan’s Sony Corp, as the December 22 deadline draws close. Both companies had entered into a 90-day due diligence process on September 22, following the announcement of a merger. “The due diligence process, which was spread across cities, would be completed ahead of the deadline. This was a large and tedious process started in September, considering both the companies have a presence across the country, and is now nearing closure,” a source close to the development said.
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India spooks amazon by suspending 2019 future group deal, cites suppression of information. Amazon 2019 future deal was at heart of ongoing legal disputes. India watchdog suspends deal, says amazon suppressed info in2019. Amazon should pay penalty of 2 billion rupees. Suspension of deal latest legal twist in future-amazon saga.
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IFCI gets shareholders’ approval to raise up to Rs 1,000 cr via bonds. Infrastructure term lender IFCI Ltd on Friday said it has received shareholders’ approval to raise up to Rs 1,000 crore in tranches by issuing various securities. The company sought authorisation from the shareholders for making offer to subscribe to securities/raise funds through private placement in one or more tranches up to an amount of Rs 1,000 crore, during a period of one year from the date of passing of the special resolution, it said.
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Bharti Airtel has acquired an additional 2.86 per cent in software development firm Vahan. Airtel, via its start-up accelerator programme, aims to support growth of early stage tech startups and partner with them in building significant scale to achieve its vision, the company said in a stock exchange notification.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint.
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| ANERI | General | 20-Dec-21 | VGUARD | General | 20-Dec-21 |
| CRPRISK | Audited Results;Half Yearly Results | 20-Dec-21 | AIIL | General | 21-Dec-21 |
| GNRL | General | 20-Dec-21 | AMARSEC | General | 21-Dec-21 |
| HIGHSTREE | General | 20-Dec-21 | BHANDHOS | Scheme of Arrangement | 21-Dec-21 |
| KILITCH | Issue Of Warrants;Preferential Issue | 20-Dec-21 | MKEXIM | Bonus issue;Increase in Authorised Capital | 21-Dec-21 |
| MARG | Quarterly Results | 20-Dec-21 | NCLRESE | Right Issue of Equity Shares | 21-Dec-21 |
| RELICTEC | General | 20-Dec-21 | SAHYADRI | Interim Dividend;General | 21-Dec-21 |
| SHREEGANES | Stock Split | 20-Dec-21 | TFL | General | 21-Dec-21 |
| SRD | Bonus issue | 20-Dec-21 | YESBANK | General | 21-Dec-21 |
| TANTIACONS | Quarterly Results | 20-Dec-21 | AMARNATH | General | 22-Dec-21 |
| TAPARIA | Interim Dividend;General | 20-Dec-21 | ANUPAM | Bonus issue;Increase in Authorised Capital | 22-Dec-21 |
| URJAGLOBA | Right Issue of Equity Shares;General | 20-Dec-21 | BIRLAMONEY | General | 22-Dec-21 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| BAMBINO | 21-Dec-21 | Final Dividend – Rs. – 1.60 | BCG | 23-Dec-21 | Final Dividend – Rs. – 0.0500 |
| IFINSEC | 22-Dec-21 | E.G.M. | CANFINHOME | 23-Dec-21 | Interim Dividend – Rs. – 1.50 |
| POWERGRID | 22-Dec-21 | Interim Dividend – Rs. – 4.00 | HIKLASS | 23-Dec-21 | Stock Split From Rs.10/- to Rs.5/- |
| POWERGRID | 22-Dec-21 | Special Dividend – Rs. – 3.00 | HINDEVER | 23-Dec-21 | Stock Split From Rs.10/- to Rs.2/- |
| PRECWIRE | 22-Dec-21 | Stock Split From Rs.5/- to Rs.1/- | NEOGEN | 23-Dec-21 | E.G.M. |
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