Outlook

NIFTY:

NIFTY opened at 16824.25 with a big gap down of 161 points. The index recorded its intraday high at 16840.10 within the first five minutes of trading and then started drifting downwards. A sharp decline of more than 400 points came in the first half of today ‘s trading session. The index recorded its intraday low at 16410.20 in the afternoon and then started a V-Shaped reversal. The index rallied more than 200 points in the second half, recovered almost one-third of losses, and finally closed at 16614.20 with a loss of 371points or  2.18% down. All the sectoral indices have closed lower today. BANK,FINANCIAL,META L, and REALTY led the bears today and closed with big losses. The PHARMA and FMCG outperformed today but ended with minor losses.

The long-term trend is down while the long-term momentum is moving down and almost reaching the weak zone. The Intermediate trend is down while the intermediate momentum has moved up today from the weak zone. Both the momentums have started contradicting each other suggests we may see a process of consolidation here.

BANK NIFTY:

BANK NIFTY opened at 35124.35 with a big gap down of 555 points. The index record edits intraday high at 35231.10 and continued moving downwards. The decline brought prices to its intraday low at 34018.45 in the afternoon and then prices have started a process of recovery. The index finally closed at 34439.45 with a loss of 1240 points.

PSU BANKS have continued its underperformance and closed with a loss of 4.45%.PVT BANKS have also moved down and ended lower by 3.28%.Within the index, in terms of points, HDFC BANK contributed the highest on the downside followed by ICICIBANK.

We may see a process of consolidation within 34000 – 35500 zone. These levels are likely in nature and need to be confirmed by the prices in near future but the theme is intact. We have seen a sharp move of more  than 3000 points which is more than 8% in last three trading days and this expansion should lead prices into a process of consolidation.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
PIDILITEIND 2405 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 2410 with a stop loss of 2370 and for the target of 2460.
TATAMOTOR 447 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 444 with a stop loss of 452 and target  of 420.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
TATASTEEL 1060 PE BUY 23 CMP 11 45 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
POWERGRID.Dec 30 203.6 0.05 15.85 21241339 AUBANK.Dec 30 1001.25 -10.13 4.79 3432500
PIDILITIND.Dec 30 2401.55 0.29 2.93 2206500 DELTACORP.Dec 30 255.9 -7.48 3.45 14018500
AUROPHARMA.Dec 30 686.15 0.85 0.36 14874600 BANDHANBNK.Dec 30 247.5 -7.46 7.36 25225200
GLENMARK.Dec 30 488.8 1.21 1.13 10046400 RBLBANK.Dec 30 167.45 -6.77 0.86 30342700
ASTRAL.Dec 30 2093.25 -6.56 8.44 526350
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
LUPIN.Dec 30 876.4 0.14 -3.29 7856550 FSL.Dec 30 153.9 -7.93 -2.35 7137000
DRREDDY.Dec 30 4564.45 0.68 -0.58 2599250 LTTS.Dec 30 5044.9 -7.79 -4.92 537600
HINDUNILVR.Dec 30 2269.95 1.42 -0.89 10392000 IBULHSGFIN.Dec 30 216.35 -7.58 -6.61 27329600
APLLTD.Dec 30 766.85 2.47 -0.8 1629650 INDIGO.Dec 30 1818 -7.11 -3.27 3197250
CIPLA.Dec 30 893.5 3.81 -0.48 11302200 IEX.Dec 30 239.3 -6.76 -2.7 34192500

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Sun Pharma  Ltd 763.95 -0.65 7474026 0 71.96 Nifty 50 16614.2 -2.18 77241
Hdfc Ltd. 2550.3 -2.56 3483707 0 71.93 Nifty Bank 34439.85 -3.31 77241
Max Financial Services l 934.3 -1.27 372744 0 67.78 Nifty it 35916.45 -2 77241
Dabur India Ltd. 558.2 -1.16 1332911 0 67.67 Nifty Auto 10405.3 -2.56 77244
Colgate Palmolive (india 1415.8 -0.92 490526 0 67.58 Nifty Metal 5269.6 -3.78 77244
Icici Lombard General In 1351.4 -0.54 652830 0 67.57 India Vix 18.97 16.1 77238
Gail (india) Limited 125.95 -2.74 13206589 0 66.49 Nifty Pharma 13184.45 -0.35 77244
Britannia Ind Ltd. 3471.9 -1.82 382144 0 66.49 Nifty Fmcg 36084.65 -0.97 77244
Petronet Lng Limited 211.7 -1.85 1722354 0 65.59 Nifty Realty 452.65 -4.9 77244
Sbi Life Insurance Compa 1125.7 -1.47 1341693 0 64.06 Nifty Media 2186.8 -3.94 77244

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

  • Japan’s Osaka Gas Co said on Monday it has entered India’s urban gas distribution market by investing in the local unit of Singapore-based AGP International Holdings (AG&P) as part of its overseas expansion drive. Demand in India’s natural gas market is set to surge as the government wants to raise the share of the cleaner fuel in its energy mix to 15% by 2030 from the current 6% to combat climate change.

  • Adani Transmission Limited (ATL) on Monday said it has completed the construction of one of the India’s longest intra-state transmission lines of 897 circuit km. The transmission line, set up by ATL subsidiary Ghatampur Transmission Ltd (GTL) will connect Ghatampur thermal power station in Kanpur district to Hapur substation in western Uttar Pradesh, the company said in a statement.

  • Global engineering and product development digital services firm Tata Technologies on Monday said it has been selected by European aerospace major Airbus as a strategic supplier. The company will become engineering, manufacturing engineering and services strategic supplier (EMES3), Tata Technologies said in a statement.

  • Anil Agarwal-led Vedanta Ltd has acquired Nicomet, a Nickel and Cobalt producer based in Goa making Vedanta the sole producer of Nickel in India. “India imports 100% of its Nickel requirements; our focus will be to boost domestic production that would fuel India’s transition to a Net Zero economy,” chairman Anil Agarwal said in a release on Monday.

Source: Economic Times,  Indian Express  ,Business Today, Livemint, Business Standard, Bloomberg Quint.

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
AIIL General 21-Dec-21 INTEGRA Increase in Authorised Capital;Right Issue 22-Dec-21
AMARSEC General 21-Dec-21 KUMPFIN General 22-Dec-21
BHANDHOS Scheme of Arrangement 21-Dec-21 RPPINFRA Right Issue of Equity Shares;General 22-Dec-21
MKEXIM Bonus issue;Increase in Auth. Capital 21-Dec-21 SALEM General 22-Dec-21
NCLRESE Right Issue of Equity Shares 21-Dec-21 TECHNOFAB Quarterly Results 22-Dec-21
SAHYADRI Interim Dividend;General 21-Dec-21 BVCL General 23-Dec-21
TFL General 21-Dec-21 EASTWEST Issue Of Warrants;Pref.l Issue of shares 23-Dec-21
YESBANK General 21-Dec-21 EMMSONS Audited Results 23-Dec-21
AMARNATH General 22-Dec-21 GAIL Interim Dividend;General 23-Dec-21
ANUPAM Bonus issue;Increase in Auth.Capital 22-Dec-21 RADHEDE General 23-Dec-21
BIRLAMONEY General 22-Dec-21 SIMPLEX Audited Results 23-Dec-21
CEINSYSTECH Preferential Issue of shares;General 22-Dec-21 TWL Quarterly Results 23-Dec-21
DEEPAKNI General 22-Dec-21 UHZAVERI Preferential Issue of shares 23-Dec-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
BAMBINO 21-Dec-21 Final Dividend – Rs. – 1.6000 BCG 23-Dec-21 Final Dividend – Rs. – 0.0500
IFINSEC 22-Dec-21 E.G.M. CANFINHOME 23-Dec-21 Interim Dividend – Rs. – 1.5000
POWERGRID 22-Dec-21 Interim Dividend – Rs. – 4.0000 HIKLASS 23-Dec-21 Stock  Split From Rs.10/- to Rs.5/-
POWERGRID 22-Dec-21 Special Dividend – Rs. – 3.0000 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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