Morning-Outlook-Feature-Image

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

  • 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.

  • 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.

  • 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.

  • 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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