Outlook

NIFTY:

NIFTY opened at 17921 with a gap down of just 17 points. The index first consolidated, recorded its intraday high at 17943.70, and then started drifting downwards. Prices have seen a sharp decline of more than 150 points in just two hours and then saw a minor correction. That correct ion finds resistance and prices again moved own. The index recorded its intraday low at 17648.35 and then started rising. Prices have moved up almost 100 points and finally closed at 17757 with a  loss of 181.40 points or 1.01% down. The METAL and REALTY sectors have outperformed today and closed higher. The rest of the sectoral indices have closed lower led by the PHARMA, IT, and FMCG stocks.

Trading in volatile environment almost always ends with a lot of whipsaws. The index recorded its swing high around 18300. This should act as a resistance level. Support is visible around 17600. As of now, we do not have any adequate trading setup that could suggest a trade. So, we should avoid trading the index and wait for prices to stabilize first. The long-term trend is up while the long-term momentum has turned down today but still moving within the strength zone.

 

BANK NIFTY:

BANK NIFTY opened at 38106.10 with a gap up of 48 points. The index first consolidated, recorded its intraday high at 38167.95 and then broke on the downside. The index moved down, saw a minor correction in the afternoon and then again moved down. Prices have recorded its intraday low at 37591.85 and then again rallied to finally close at 37908.65 with a loss of 150 points. PVT and PSU BANKS both have seen a decline today and ended lower by 0.54% and 0.21% respectively. Within the index, in terms of points, ICICI BANK contributed the highest while HDFC BANK contributed the lowest.

The short-term trend has changed to sideways today as index closes below 38000 levels. Support is visible around 37400. Today, prices have come close   to this level.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
MINDTREE 4226 SELL The stock is on the verge of giving the breakout on the intraday as well as the daily chart. The stock can be sell below 4220 with a stop loss of 4260 and for the target of 4160.
TATAPOWER 248 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 249 with a stop loss of 245 and target  of 260.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
SBIN    510 CE BUY 12 CMP 8 20 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
SRTRANSFIN.Jan 27 1202.5 0.01 2.1 3313200 HDFCAMC.Jan 27 2400.45 -1.9 3.65 3109600 3109600
VOLTAS.Jan 27 1260 0.04 0.13 3045000 HDFCLIFE.Jan 27 658.25 -1.72 0.68 19671300 19671300
PIDILITIND.Jan 27 2692.4 0.08 1.49 2116500 INDIAMART.Jan 27 6369.7 -1.77 8.94 230400 230400
HINDPETRO.Jan 27 324.5 0.08 1.12 11971800 INDIGO.Jan 27 2091.8 -1.16 1.98 2630750 2630750
RELIANCE.Jan 27 2523.65 0.1 1.2 30491500 EICHERMOT.Jan 27 2731.6 -0.16 3.2 2402400 2402400
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
BHARATFORG.Jan 27 761.5 0.16 -1.2 6334500 GRANULES. Jan 27 312.15 -3.48 -2.6 15283000 15283000
CHOLAFIN.Jan 27 613.3 0.21 -1.87 7230000 ADANIPORTS.Jan 27 744.85 -2.55 -5.32 82251250 82251250
LAURUSLABS.Jan 27 499.95 0.21 -1.02 4547700 LICHSGFIN.Jan 27 371.3 -2.11 -1.2 18836000 18836000
AUBANK.Jan 27 1263 0.26 -4.84 2910000 GRASIM.Jan 27 1814.8 -2.07 -0.97 10146475 10146475
ESCORTS.Jan 27 1867 0.4 -0.76 5954850 MFSL.Jan 27 997.2 -1.93 -0.27 1927900 1927900

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Pfizer Ltd. 4755.15 -1.65 32600 0 86.77 Nifty 50 17938.4 -0.96 81099
Crompton Greaves Consume 435.55 0.06 1461755 0 72.43 Nifty Bank 38041.35 -0.44 81108
Hdfc Asset Management Co 2394.2 -2.26 264613 0 71.41 Nifty Fmcg 37106.4 -1.06 81105
Hdfc Ltd. 2620.25 -1.59 1793748 0 71.29 India Vix 17.82 0.21 81108
Icici Lombard General In 1423 -1.7 452596 0 69.54 Nifty Realty 501.9 -0.15 81105
Tata Consultancy Serv Lt 3914.65 -1.9 3102539 0 68.47 Nifty Pharma 13682.7 -0.11 81105
Power Grid Corporation o 204.65 -0.24 10293276 0 68.38 Nifty Media 2324.6 1.01 81105
Hindustan Unilever Ltd 2309.9 -2.52 2145255 0 67.57 Nifty Metal 5801.1 0.8 81105
Container Corp Of India 671.2 -1.42 748775 0 66.43 Nifty Auto 11681.4 0.71 81105
Marico Limited 494.4 0.78 899160 0 65.22 Nifty Financial Services 18269.95 -1.08 81105

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR:  FX Reserves, USD on 21st January, 2022

INR:  Bank Loan and Deposit growth  on 21st January, 2022

•USD:  CB Consumer Confidence on 25th January 2022

NEWS UPDATES

  • Larsen & Toubro (L&T) on Thursday said its heavy engineering arm has dispatched six of the world’s largest coke drums to Mexico. These coke drums were successfully manufactured during the COVID-19 pandemic at L&T’s state-of-the-art Heavy Engineering Complex located at Hazira near Surat, the company said in a statement.

  • Hindustan Unilever on Thursday reported 17% jump in net profit at Rs 2,243 crore for the quarter ending December 31, 2021 as it gained market share in both urban and rural areas as India emerged from coronavirus-related lockdowns.. It posted net profit of Rs 1,921 crore in year-ago period. Growth in the quarter was competitive and profitable with domestic consumer growth of 11%. Business fundamentals remained strong with handsome market share gains in all our divisions, both urban and rural markets and across price segments. Underlying volume growth at 2% was significantly ahead of the market, the company said in a stock exchange filing.

  • Bank of Maharashtra posted a 110.7 per cent rise in net profit at Rs 325 crore for the third quarter ended December 2021 (Q3FY22) on robust growth in net interest income. The net profit was Rs 154 crore in Q3FY21 and Rs 263 crore in the second quarter ended September 2021 (Q2FY22). The Pune-based lender’s stock was trading 2.56 per cent lower at Rs 20.95 per share on BSE.

  • Walmart, the world’s largest retailer, is now inviting select Indian sellers to apply to join Walmart Marketplace, a curated sellers community that serves more than 120 million US shoppers each month. This initiative expands on over 20 years of Walmart’s engagement with Indian exporters.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
20MICRONS Audited Results 21-Jan-22 KAJARIACER Quarterly Results 21-Jan-22
AMAL General 21-Jan-22 L&TFH Quarterly Results 21-Jan-22
BANDHANBNK Quarterly Results 21-Jan-22 MAXVIL Quarterly Results 21-Jan-22
CALSOFT Quarterly Results 21-Jan-22 NETLINK General;Quarterly Results 21-Jan-22
CSBBANK Quarterly Results 21-Jan-22 NGIL General;Quarterly Results 21-Jan-22
CYBERTECH Quarterly Results 21-Jan-22 OAL Quarterly Results 21-Jan-22
GLAND Quarterly Results 21-Jan-22 ORIENTALTL Quarterly Results 21-Jan-22
GOKEX Quarterly Results 21-Jan-22 PNBGILTS Quarterly Results 21-Jan-22
HDFCLIFE Quarterly Results 21-Jan-22 POLYCAB Quarterly Results 21-Jan-22
HERITGFOOD Quarterly Results 21-Jan-22 PVR Quarterly Results 21-Jan-22
HINDZINC Quarterly Results 21-Jan-22 RAMCOIND Quarterly Results 21-Jan-22
IDBI Quarterly Results 21-Jan-22 RELIANCE Quarterly Results 21-Jan-22
IDEA Quarterly Results 21-Jan-22 SBILIFE Quarterly Results 21-Jan-22
INOXLEISUR Quarterly Results 21-Jan-22 SUPRIYA Quarterly Results 21-Jan-22
INVENTURE Quarterly Results 21-Jan-22 TANLA Quarterly Results 21-Jan-22
JSWSTEEL Quarterly Results 21-Jan-22 VINYLINDIA Quarterly Results 21-Jan-22
JYOTHYLAB Quarterly Results 21-Jan-22 WENDT Interim Dividend;Quarterly Results 21-Jan-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
WIPRO 21-Jan-22 Interim Dividend – Rs. – 1.00 KPIGLOBAL 24-Jan-22 Interim Dividend – Rs. – 0.40
ANGELONE 24-Jan-22 Interim Dividend – Rs. – 7.00 LTTS 25-Jan-22 Interim Dividend – Rs. – 10.00
CESC 24-Jan-22 Interim Dividend – Rs. – 4.50 BEPL 27-Jan-22 Interim Dividend – Rs. – 1.00
DCMSHRIRAM 24-Jan-22 Interim Dividend – Rs. – 5.20 CHOTHANI 27-Jan-22 E.G.M.
KPEL 24-Jan-22 Interim Dividend – Rs. – 0.2500 GROWINGTON 27-Jan-22 E.G.M.

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