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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