NIFTY:
NIFTY opened at 17236.05 with a gap down of 68 points. The index recorded its intraday low at 17219.20 a few ticks below the opening price and then went higher. Prices have seen a sharp intraday rally of more than 150 points and recorded its intraday high at 17380.80. The index faces strong resistance there and again moved down. A sharp decline brought prices near 17250 and then prices consolidate towards the end of today’s trading session. The index finally closed at 17276.30 with a loss of 28.30 points or 0.16% down. All the sectoral indices have closed lower today except BANK and FINANCIAL which closes with minor gains. REALTY and OIL GAS underperformed today and closed with a loss of more than 1%.
NIFTY is consolidating from the last three trading days and finding it difficult to cross above 17500. The shortterm trend is sideways as prices are moving sideways and formed a pattern of Bearish Head & Shoulder on the 30 minutes timeframe chart. This pattern will be confirmed when the index closes below the neckline around 17250. A breakdown will also suggest a downside target of around 17000 which is also shortterm support for the NIFTY. On Monday, we should look for a shorting opportunity. The idea is to wait till 9:30 AM and then sell short below the low recorded in the first 15 minutes of 17230 (choose the lowest value). Keep a stop of 110 points and a target of 230 points from your entry price.
BANK NIFTY:
BANK NIFTY opened at 37344.45 with a gap down of 114 points. Prices have recorded its intraday low 37304.45 and the moved up. The index filled the gap and rallied further on the upside to record its intraday high at 37817.55. Prices have again moved down towards the end of today’s trading session and finally closed at 37570.60 with a gain of just 112 points. PSU BANKS have underperformed today and closed lower by 0.17%. PVT BANKS have outperformed today and closed higher by just 0.06%.
The short-term trend remained sideways. The support is visible around 36800. Resistance is visible around 39000. On Monday we should again look for a shorting opportunity on a sign of weakness. The idea is to wait till 09:30 AM and then sell short below the low recorded in the first 15 minutes of trading or below 37300 (choose the lowest value).
TECHNICAL PICKS
| COMPANY NAME | CMP | B/S | RATIONALE+ |
| BERGEPAINT | 737 | 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 740 with a stop loss of 730 and for the target of 750. |
| TCS | 3793 | 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 buy above 3800 with a stop loss of 3780 and target of 3850. |
DERIVATIVE PICKS
| Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| LT | 1880 CE | BUY | 24 | CMP | 15 | 40 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| IEX.Feb 24 | 217.45 | 0 | -0.66 | 42922500 | AMBUJACEM.Feb 24 | 338.7 | -5.89 | 7.74 | 14721000 | |
| TATASTEEL.Feb 24 | 1189.75 | -0.02 | -0.09 | 36618000 | MOTHERSUMI.Feb 24 | 158.35 | -5.12 | 17.41 | 20678000 | |
| CHOLAFIN.Feb 24 | 674.55 | -0.13 | -1.27 | 7885000 | PEL.Feb 24 | 2161.1 | -3.68 | 1.71 | 3348675 | |
| NTPC.Feb 24 | 132.7 | -0.23 | -1.23 | 38925300 | CHAMBLFERT.Feb 24 | 379 | -3.56 | 0.63 | 2407500 | |
| AUBANK.Feb 24 | 1259.95 | -0.4 | -1.16 | 2478000 | DIXON.Feb 24 | 4069.25 | -3.25 | 6.69 | 602125 | |
| Short Covering | Long Unwinding | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| ABB.Feb 24 | 2061 | 0 | -6.85 | 391000 | FSL.Feb 24 | 127.25 | -4.32 | -2.52 | 10855000 | |
| AMARAJABAT.Feb 24 | 597.2 | 0.02 | -3.28 | 6545000 | ASTRAL.Feb 24 | 1812.9 | -3.63 | -2.44 | 988625 | |
| BPCL.Feb 24 | 373.05 | 0.07 | -2.78 | 20980800 | AUROPHARMA.Feb 24 | 654.35 | -2.89 | -1.48 | 11955000 | |
| MRF.Feb 24 | 65640.15 | 0.15 | -3.94 | 64550 | IBULHSGFIN.Feb 24 | 184.6 | -2.87 | -1.12 | 31179800 | |
| TORNTPOWER.Feb 24 | 479.2 | 0.18 | -2.36 | 4090500 | NAM-INDIA.Feb 24 | 311.5 | -2.85 | -0.67 | 2614400 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| City Union Bank Ltd. | 128.85 | -2.24 | 3966263 | 0 | 75.27 | Nifty 50 | 17276.3 | -0.16 | 81459 | |
| Escorts India Ltd. | 1860.25 | 0.19 | 366701 | 0 | 69.43 | Nifty Bank | 37599.15 | 0.18 | 81477 | |
| Tata Consultancy Serv Lt | 3793.9 | 0.26 | 3688883 | 0 | 68.29 | Nifty it | 34483.1 | -0.44 | 81477 | |
| Infosys Limited | 1706.95 | -1.03 | 5602215 | 0 | 62.95 | Nifty Pharma | 13208.8 | -0.87 | 81477 | |
| Kotak Mahindra Bank Limi | 1826.55 | 0.51 | 1229668 | 0 | 62.93 | Nifty Realty | 449 | -1.25 | 81477 | |
| Icici Lombard General In | 1282.6 | -1.11 | 391940 | 0 | 62.81 | India Vix | 22.17 | 0.77 | 81474 | |
| Crompton Greaves Consume | 391.3 | -0.92 | 2231774 | 0 | 61.94 | Nifty Auto | 11420.45 | -0.63 | 81477 | |
| Hdfc Ltd. | 2441.15 | 1.22 | 3725963 | 0 | 61.86 | Nifty Fmcg | 36498.7 | -0.2 | 81477 | |
| Abb Limited | 2065.65 | 0.47 | 177031 | 0 | 61 | Nifty Metal | 5778.4 | -0.26 | 81477 | |
| Petronet Lng Limited | 213.1 | -1.57 | 1360206 | 0 | 60.52 | Nifty Media | 2163.35 | -0.69 | 81477 | |
| Ultratech Cement Limited | 6916.6 | -1.84 | 510600 | 0 | 59.8 | Nifty Financial Services | 17524.95 | 0.26 | 81477 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: FX Reserves on 25th February, 2022
INR: Bank Loan and Deposit Growth on 25th February, 2022 |
•USD: CB Consumer Confidence (Feb) on 22nd February 2022
•USD: GDP (QoQ) (Q4) on 24th February 2022 |
NEWS UPDATES
- Vedanta Group is getting ready for two separate ventures that may see investments worth $15 billion in chip and display manufacturing space in India. One will be with Hon Hai Technology Group (also known as Foxconn) to manufacture 28-nano meter semiconductor chips based on a technology developed by the Taiwanese multinational. The other venture is meant for a display manufacturing unit.
- The Ministry of Housing and Urban Affairs has approved proposals worth Rs 235 crore to Andhra Pradesh under the ‘Garbage Free Cities’ vision, the largest one-time approval of funds for legacy dumpsite remediation, a statement said on Friday. The Centre’s share in these proposals will be Rs 77.66 crore, a ministry official said, adding that rest of the amount will be borne by the state.
- The Comprehensive Economic Partnership Agreement sealed by India and the United Arab Emirates on Friday is expected to facilitate Indian exporters to gain access to the Arab and African markets besides increasing the two-way trade to USD 100 billion in the next five years from current USD 60 billion.
- Life Insurance Corporation (LIC) expects at least one seventh of the country’s investing population in financial markets, including its policy holders, to participate in the mega initial public offering (IPO) and contribute as much as ₹25,000 crore to the total sale. It expects 7.5-10 million retail applicants for the IPO, in what could be the largest non-institutional participation in the history of Indian capital markets.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint.
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| ARSHIYA | General | 21-Feb-22 | RAJOOENG | General | 21-Feb-22 |
| BIGBLOC | General | 21-Feb-22 | SUPRAP | General | 21-Feb-22 |
| BRAHMINFRA | Quarterly Results | 21-Feb-22 | SYLPH | General | 21-Feb-22 |
| IBINFO | General | 21-Feb-22 | VARIMAN | General | 21-Feb-22 |
| JONJUA | General | 21-Feb-22 | ADJIA | General | 22-Feb-22 |
| MCLOUD | ESOP;Issue Of Warrants;Pref. Issue | 21-Feb-22 | DATAINFRA | General | 22-Feb-22 |
| NATURAL | General | 21-Feb-22 | ELANTAS | Audited Results;Dividend | 22-Feb-22 |
| OBCL | General | 21-Feb-22 | ISHANCH | General | 22-Feb-22 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| BALKRISIND | 21-Feb-22 | Special Dividend – Rs. – 12.00 | JBMA | 21-Feb-22 | Stock Split From Rs.5/- to Rs.2/- |
| BALKRISIND | 21-Feb-22 | Interim Dividend – Rs. – 4.00 | KIRLOSENG | 21-Feb-22 | Interim Dividend – Rs. – 1.50 |
| CARBORUNIV | 21-Feb-22 | Interim Dividend – Rs. – 1.50 | METROPOLIS | 21-Feb-22 | Interim Dividend – Rs. – 8.00 |
| COALINDIA | 21-Feb-22 | Interim Dividend – Rs. – 5.00 | MTARTECH | 21-Feb-22 | Interim Dividend – Rs. – 3.00 |
| COCHINSHIP | 21-Feb-22 | Interim Dividend – Rs. – 7.00 | ONGC | 21-Feb-22 | Interim Dividend – Rs. – 1.7500 |
| CUMMINSIND | 21-Feb-22 | Interim Dividend – Rs. – 8.00 | SHIL | 21-Feb-22 | Interim Dividend – Rs. – 0.50 |
| HERCULES | 21-Feb-22 | Interim Dividend – Rs. – 0.7500 | SJVN | 21-Feb-22 | Interim Dividend – Rs. – 1.1500 |
| HEROMOTOCO | 21-Feb-22 | Interim Dividend – Rs. – 60.00 | SUNDRMFAST | 21-Feb-22 | Interim Dividend – Rs. – 6.4500 |
| INDNIPPON | 21-Feb-22 | Interim Dividend – Rs. – 6.2500 | TIDEWATER | 21-Feb-22 | Interim Dividend – Rs. – 20.00 |
| IRCON | 21-Feb-22 | Interim Dividend – Rs. – 0.70 | AKZOINDIA | 22-Feb-22 | Interim Dividend – Rs. – 40.00 |
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