Outlook

NIFTY:

NIFTY opened at 17192.25 with a gap down of 84 points. The index moved further on the downside for the first half an hour and recorded its intraday low at 17070.70. Prices bounced up from there, recovered all the losses, and saw a sharp rally of more than 250 points to record its intraday high at 17351.05. Prices then consolidated at the top. Another decline of almost 150 points came in the last two hours of trading and the index finally closed at 17206.65 near its opening price with a loss of 69.65 points or 0.40% down. All the sectoral indices have closed lower today except BANK and FINANCIAL which closes with minor gains. MEDIA, METAL, and O IL GAS underperformed today and closed with a loss of more than 1.50%.

The NIFTY is consolidating from the last few trading days and finding it difficult to cross above 17500. Moreover, a decline also fizzles out quickly and prices are making a bearish pattern of lower highs and lower lows The short ­term trend is sideways and we do not have any adequate pattern which suggests a trading opportunity in the index. For the time being, we should avoid trading the index.

BANK NIFTY:

BANK NIFTY opened at 37400 wit h a gap down of 170 points. Prices have further drifted downwards for almost half an hour and recorded its intraday low at 37156.80. The index bounced up from there and saw a sharp intraday rally to record its intraday high at 38054.40. Another decline came int he second half and the index finally closed at 37702.70 wit h a gain of 132 points. PSU BANKS have underperformed today and closed lower by 1.38%. PVT BANKS have outperformed today and closed higher by just 0.25%. Within the index, in terms of points, HDFC BANK contributed the highest while SBIN contributed the lowest.

We have suggested going short below the first 15 minutes of low or below 37300 (choose whichever is the lowest). The index recorded it at 37230 and then broke it. Our short trade opened there which stopped out later and we incurred a loss of 300 points.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
ASIANPAINT 3251 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 3255 with a stop loss of 3220 and for the target of 3310.
MARICO 507 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 508 with a stop loss of 500 and target  of 516.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
INFY    1720 CE BUY 23 CMP 15 40 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
TATACOMM.Feb 24 1235.1 0.02 1.28 2756400 DLF.Feb 24 345.45 -4.04 0.75 31028250
EICHERMOT.Feb 24 2702.05 0.08 3.2 2603650 PEL.Feb 24 2083.55 -3.72 5.85 3253525
MCDOWELL-N.Feb 24 838.1 0.09 2.97 14311250 SRTRANSFIN.Feb 24 1211.9 -3.63 3.66 2717200
HDFC.Feb 24 2441 0.09 9.37 18500400 HAL.Feb 24 1297.25 -3.57 3.63 2020650
MUTHOOTFIN.Feb 24 1325.1 0.1 2.23 3682500 ADANIENT.Feb 24 1676.4 -3.53 0.52 17605500
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
KOTAKBANK.Feb 24 1831.95 0.25 -2.09 12191600 IBULHSGFIN.Feb 24 162.4 -12.29 -2.74 30299400
DIXON.Feb 24 4095.9 0.3 -1.08 559125 BHEL.Feb 24 50.35 -5.71 -10.78 87822000
CHOLAFIN.Feb 24 675.85 0.33 -0.44 7083750 HINDCOPPER.Feb 24 116.75 -5.27 -5.48 14529700
GUJGASLTD.Feb 24 663.2 0.43 -15.64 1712500 ABCAPITAL.Feb 24 107.4 -4.45 -1.56 14132800
AUBANK.Feb 24 1264.75 0.43 -3.72 2021500 BSOFT.Feb 24 411.55 -3.78 -0.03 3746600

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Escorts India Ltd. 1861.05 0.04 452371 0 76.97 Nifty 50 17206.65 -0.4 80637
Tata Consultancy Serv Lt 3719.4 -1.96 7465922 0 73.94 Nifty Bank 37685.6 0.23 80637
Infosys Limited 1730.7 1.39 5120890 0 71.57 India Vix 22.9 3.35 80634
Colgate Palmolive (india 1410.9 0.03 307113 0 71.25 Nifty it 34472.05 -0.03 80637
Crompton Greaves Consume 392.3 0.26 1569988 0 70.32 Nifty Fmcg 36200.3 -0.82 80637
Marico Limited 507.25 0.5 1505281 0 66.93 Nifty Pharma 13029.9 -1.35 80637
Syngene 548.05 -2.74 772094 0 66.71 Nifty Realty 442.9 -1.36 80640
Mrf Ltd. 64734.65 -1.38 10513 0 66.2 Nifty Auto 11361.6 -0.52 80640
Hdfc Ltd. 2436.8 -0.18 2979739 0 63.6 Nifty Metal 5658.95 -2.07 80640
United Spirits Limited 838.85 0.35 1174568 0 63.03 Nifty Media 2104.75 -2.71 80640
Hindustan Unilever Ltd 2294.8 -0.77 737919 0 62.63 Nifty Financial Services 17530.15 0.03 80640

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

  • Life Insurance Corp Of India (LIC), which is planning the country’s largest IPO next month, may not sell its entire stake in IDBI Bank and can use its large network of branches to market its insurance services, its chairman said. LIC, the country’s biggest insurance company, is planning to float a 5% stake to raise about $8 billion next month, which could make it India’s largest initial public offering (IPO) by far.
  • Tata Power on Monday said it has collaborated with Germany-based RWE Renewable GmbH to explore potential for a joint development of offshore wind projects in India. A corresponding Memorandum of Understanding (MoU) has been signed between Tata Power Renewable Energy Limited, a 100 per cent subsidiary of Tata Power, which is one of India’s largest integrated power companies, and RWE Renewables GmbH, one of the world’s leaders in offshore wind, a Tata Power statement has said.
  • The Reserve Bank of India (RBI) is expected to step up its intervention in the foreign exchange market to prevent wild swings in the rupee’s value amid simmering geopolitical tensions on the Ukraine frontier, and ahead of the country’s biggest public share sale to date.
  • Jindal Stainless on Monday said it has entered into a pact with the Haryana State Board of Technical Education (HSBTE), Panchkula, to promote technical education in stainless steel technology and its applications. For this, they have agreed to institutionalise stainless steel courses in all polytechnic colleges in Haryana.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ADJIA General 22-Feb-22 TANAA Interim Dividend 22-Feb-22
DATAINFRA General 22-Feb-22 AGIOPAPER General 23-Feb-22
ELANTAS Audited Results;Dividend 22-Feb-22 BPCAP General 23-Feb-22
ISHANCH General 22-Feb-22 GAMMONIND Quarterly Results 23-Feb-22
JINDHOT Preferential Issue of shares 22-Feb-22 GOGIACAP General 23-Feb-22
MAHINDCIE Audited Results;Final Dividend;Results 22-Feb-22 SANOFI Audited Results;Final Dividend 23-Feb-22
RELTD Issue Of Warrants 22-Feb-22 SEAGOLD General 23-Feb-22
SATIN General 22-Feb-22 SHESHAINDS General 23-Feb-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
AKZOINDIA 22-Feb-22 Interim Dividend – Rs. – 40.00 OIL 22-Feb-22 Interim Dividend – Rs. – 5.7500
GGL 22-Feb-22 E.G.M. SBC 22-Feb-22 Bonus issue 1:1
GRSE 22-Feb-22 Interim Dividend – Rs. – 4.9500 SBC 22-Feb-22 Stock  Split From Rs.10/- to Rs.1/-
HGS 22-Feb-22 Bonus issue 1:1 SUPRAJIT 22-Feb-22 Interim Dividend – Rs. – 0.90
HGS 22-Feb-22 Interim Dividend – Rs. – 28.00 TCS 22-Feb-22 Buy Back of Shares
MAYURUNIQ 22-Feb-22 Buy Back of Shares TRENT 22-Feb-22 Interim Dividend – Rs. – 0.60
MSTC 22-Feb-22 Interim Dividend – Rs. – 6.50 ASHIANA 23-Feb-22 Interim Dividend – Rs. – 0.40
NCLIND 22-Feb-22 Interim Dividend – Rs. – 1.50 BDL 23-Feb-22 Interim Dividend – Rs. – 7.30
NEAGI 22-Feb-22 Interim Dividend – Rs. – 10.00 DCMSRMIND 23-Feb-22 Interim Dividend – Rs. – 1.00
NHPC 22-Feb-22 Interim Dividend – Rs. – 1.3100 HIKAL 23-Feb-22 Interim Dividend – Rs. – 1.20

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