Morning-Outlook-Feature-Image
Outlook

NIFTY:

NIFTY opened at 16773.15 with a big gap up of 159 points. The index first moved sideways and then started moving on the upside. The index rallied more than 150 points and recorded its intraday high at 16936.40. Prices then again started consolidating and moved sideways for the whole afternoon and then broke on the downside. A sharp decline of almost 200 points brought the index to its intraday low at 16688.25. In the last hour of trading, prices have recovered some losses and finally closed at 16770.85 almost at its opening tick with a gain of 156.65 points or 0.94% up. All the sectoral indices have closed with gains today. The MEDIA,METAL and IT outperformed today and closed nearly 2% higher. BANK and FINANCIAL have underperformed today.

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 again turned today and is now moving within the weak zone. Both the momentums and trends have aligned on the downside suggests lower levels are ahead. This may change as per the price action in the coming days.

BANK NIFTY:

BANK NIFTY opened at 34863.35 with a big gap up of 424 points. The index first moved down and then bounced up to record its intraday high at 35050. Prices then consolidated there in the afternoon and then broke down. A sharp decline filled that gap and prices have recorded its intraday low at 34389.05. A minor recovery came in the last hour of trading and the index finally closed at 34664.60 with a gain of 225 points. PVT BANKS have outperformed today and closed with a gain of 0.57%. PSU BANKS closed with no profit and no loss today. Within the index, in terms of points, HDFC BANK contributed the highest while

AXIS BANK contributed the lowest.

As we are expecting a process of consolidation within 34000 – 35500 zone, the index traded today as we have expected. We have seen a sharp move of more than 3000 points which is more than 8% and this expansion should lead prices into a process of consolidation.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
APOLLOHOSP 4847 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 4855 with a stop loss of 4740 and for the target of 5020.
TATAMOTOR 453 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 451 with a stop loss of 462 and target  of 420.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
INFY 1820 PE BUY 21 CMP 11 50 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
ATUL.Dec 30 8530 -0.07 -5.71 40875 SRTRANSFIN.Dec 30 1175.25 -7.95 4.46 2990400
TORNTPHARM.Dec 30 3082.05 -0.14 -0.79 722250 BANDHANBNK.Dec 30 246.9 -7.68 1.61 23873400
LALPATHLAB.Dec 30 3411.05 -0.15 -3.79 482875 AUBANK.Dec 30 1041.55 -6.51 10.04 3604500
JSWSTEEL.Dec 30 660.5 -0.16 -1.88 41245200 INDIAMART.Dec 30 6530.65 -6.23 2.15 195900
BHARTIARTL.Dec 30 667.3 -0.19 -3.01 71773616 BALKRISIND.Dec 30 2094 -5.24 9.37 1658200
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
MARUTI.Dec 30 7310 0.02 -1.25 2655000 BANKBARODA.Dec 30 79.2 -6.82 -3.56 1.31E+08
IGL.Dec 30 494 0.02 -3.99 9207000 FSL.Dec 30 156.75 -6.22 -10.42 6546800
L&TFH.Dec 30 77 0.13 -6.62 60576112 ASTRAL.Dec 30 2102.05 -6.16 -11.95 427350
SRF.Dec 30 2174.6 0.17 -2.41 2991250 IBULHSGFIN.Dec 30 220.1 -5.98 -8.34 26824300
DEEPAKNTR.Dec 30 2282.8 0.26 -2.01 2268000 RBLBANK.Dec 30 169.25 -5.76 -1.33 29684400

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Sun Pharma  Ltd 778.55 1.25 5599344 0 71.96 Nifty 50 16770.85 -1.26 84069
Hdfc Ltd. 2540.85 -2.92 2502122 0 71.93 Nifty Bank 34607.85 -2.84 84069
Max Financial Services l 965.35 2.01 288349 0 67.78 Nifty it 36627.15 -0.06 84069
Dabur India Ltd. 559.1 -1 641150 0 67.67 Nifty Fmcg 36336.8 -0.28 84069
Colgate Palmolive (india 1444.6 1.1 381423 0 67.58 Nifty Realty 459.95 -3.36 84069
Icici Lombard General In 1369.6 0.8 861852 0 67.57 India Vix 17.54 7.34 84066
Gail (india) Limited 129 -0.39 7339722 0 66.49 Nifty Metal 5424.6 -0.95 84072
Britannia Ind Ltd. 3505.75 -0.86 222991 0 66.49 Nifty Media 2242.4 -1.5 84072
Petronet Lng Limited 211.8 -1.81 1370318 0 65.59 Nifty Auto 10483.9 -1.82 84072
Sbi Life Insurance Compa 1135.25 -0.64 878721 0 64.06 Nifty Pharma 13282.85 0.39 84069

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

  • Reliance General Insurance Company will soon roll out nine sandbox products to cater to the fast transforming customer requirement in the insurance sector. The company has received sandbox approval for the nine products from the Insurance Regulatory and Development Authority of India (IRDAI) in one go in the 2nd cohort, the 4th largest private sector general insurer said.

  • State-owned Indian Oil Corporation (IOC) on Tuesday said it has acquired a nearly 5 per cent stake in Indian Gas Exchange Ltd – the country’s first automated national level exchange for the trading of natural gas. IOC joins the likes of oil and gas explorer ONGC, gas utility GAIL Torrent Gas Pvt Ltd and Adani Total Gas Ltd which already have acquired 5 per cent equity each in IGX.

  • Private sector lender CSB Bank on Tuesday said it has been empanelled as an ‘agency bank’ by the Reserve Bank of India (RBI) to undertake general banking business of central and state governments. This appointment will allow CSB Bank to undertake general banking business of the central and state governments which may be entrusted by the RBI.

  • Private sector Axis Bank has emerged as the highest bidder to buy Citi’s consumer banking business, according to sources.

  • Sajjan Jindal-led JSW Cement said on Tuesday State Bank of India (SBI) has acquired a minority stake in the cement company by investing Rs 100 crore via compulsorily convertible preference shares (CCPS).

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
AMARNATH General 22-Dec-21 EMMSONS Audited Results 23-Dec-21
ANUPAM Bonus issue;Increase in Auth. Capital 22-Dec-21 GAIL Interim Dividend;General 23-Dec-21
BIRLAMONEY General 22-Dec-21 RADHEDE General 23-Dec-21
CEINSYSTECH Preferential Issue of shares;General 22-Dec-21 SANWARIA Quarterly Results 23-Dec-21
DEEPAKNI General 22-Dec-21 SIMPLEX Audited Results 23-Dec-21
IBREALEST General 22-Dec-21 TARMAT Preferential Issue of shares 23-Dec-21
INTEGRA Increase in Authorised Capital;Right Issue 22-Dec-21 TEGA General 23-Dec-21
KUMPFIN General 22-Dec-21 TWL Quarterly Results 23-Dec-21
RPPINFRA Right Issue of Equity Shares;General 22-Dec-21 UHZAVERI Preferential Issue of shares 23-Dec-21
SALEM General 22-Dec-21 EQUIPPP General 24-Dec-21
TECHNOFAB Quarterly Results 22-Dec-21 RNBDENIMS General 24-Dec-21
BVCL General 23-Dec-21 SAGL Issue Of Warrants;Right Issue Pref. Issue 24-Dec-21
EASTWEST Issue Of Warrants;Preferential Issue 23-Dec-21 SGIL General 24-Dec-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
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.
BCG 23-Dec-21 Final Dividend – Rs. – 0.0500 PTL 23-Dec-21 Stock  Split From Rs.2/- to Rs.1/-

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