NIFTY:
NIFTY opened at 16865.55 with a gap up of 95 points. The index first moved down and then quickly turned up. An attempt to fill the gap failed and prices have recorded its intraday low at 16819.50. The index then started a process of consolidation. Prices have moved in a tight range and repeatedly moved from one extreme to another. The consolidation finally broke on the upside. Prices have seen a sharp intraday rally in the last one and half hours of trading. That rally broke the range and led prices to record its intraday high at 16971. Finally, the index closed at 16955.45 with a gain of 184.60 points or 1.10% up. All the sectoral indices have participated in today’s rally and closed with gains. The REAL1Y and METAL outperformed and ended 2% higher. FMCG has seen an underperformance today.
The short-term trend is sideways now since prices are in a process of correction after a recent fall. If this correction holds 17000 resistances, then we should be ready to take a short trade on a sign of weakness. However, if the index breaks 17000 resistance and closes above it then we will be looking for a buying opportunity on any sign of strength. Hence, we should now wait and see how prices will behave around the 17000 level.
BANK NIFTY:
BANK NIFTY opened at 34863.35 with a gap up of almost 200 points. The index first moved down, filled the gap and then recorded its intraday low at 34687.60.Prices then started a process of consolidation for almost the whole day. Eventually that consolidation broke on the upside as prices have seen a sharp rally in the last hour of trading and finally closed at 35098.65 near its intraday high with a gain of 434 points. PSU and PVTBANKS both have seen an upside move today and ended with a gain of 1.74% and 1.28% respectively. Within the index, in terms of points, ICICI BANK contributed the highest while AU BANK contributed the lowest. If the index breaks 35500 on the upside and closes higher then we will look for a buying opportunity. As of now, we should step aside and wait for a clear sense of direction.
TECHNICAL PICKS
| COMPANY NAME | CMP | B/S | RATIONALE+ |
| GODREJCP | 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 960 with a stop loss of 944 and for the target of 980. |
| NATIONALUM | 103 | 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 bought above 104 with a stop loss of 101 and target of 108. |
DERIVATIVE PICKS
| Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| RELIANCE | 2360 CE | BUY | 36 | CMP | 25 | 60 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| ADANIPORTS.Dec 30 | 725.9 | 0.09 | 17.75 | 1E+08 | DIXON.Dec 30 | 5414.25 | -1.62 | 14.67 | 382125 | |
| ASIANPAINT.Dec 30 | 3282.4 | 0.19 | 1.19 | 3392850 | ICICIGI.Dec 30 | 1349.75 | -1.55 | 1.45 | 3101225 | |
| HINDUNILVR.Dec 30 | 2281 | 0.21 | 1.27 | 9540300 | APOLLOHOSP.Dec 30 | 4796 | -1.13 | 2.81 | 2375875 | |
| HDFCLIFE.Dec 30 | 640.5 | 0.22 | 1.21 | 18979400 | WHIRLPOOL.Dec 30 | 1775.9 | -1.01 | 5.74 | 967000 | |
| INDHOTEL.Dec 30 | 181.75 | 0.28 | 3.19 | 13413370 | SBILIFE.Dec 30 | 1127.35 | -0.92 | 2.79 | 6941250 | |
| Short Covering | Long Unwinding | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| ZEEL.Dec 30 | 349 | 0.13 | -7.44 | 81165000 | DALBHARAT.Dec 30 | 1850.45 | -0.01 | -1.25 | 493250 | |
| ITC.Dec 30 | 212.95 | 0.19 | -0.1 | 2.06E+08 | ||||||
| PETRONET.Dec 30 | 212.8 | 0.21 | -0.13 | 18048000 | ||||||
| HEROMOTOCO.Dec 30 | 2358.8 | 0.23 | -0.38 | 4026000 | ||||||
| JSWSTEEL.Dec 30 | 662.5 | 0.33 | -0.13 | 40990050 | ||||||
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Whirlpool | 1762.55 | -1.8 | 317227 | 0 | 86.53 | Nifty 50 | 16955.45 | 1.1 | 76287 | |
| Gujarat State Petronet l | 294.85 | -0.03 | 1536795 | 0 | 79.94 | Nifty Bank | 35029.5 | 1.22 | 76287 | |
| Icici Lombard General In | 1345.2 | -1.78 | 539150 | 0 | 74.79 | Nifty it | 36989.15 | 0.99 | 76287 | |
| Sbi Life Insurance Compa | 1124.3 | -0.96 | 846447 | 0 | 65.93 | India Vix | 16.58 | -5.47 | 76287 | |
| Colgate Palmolive (india | 1439.35 | -0.36 | 424759 | 0 | 65.34 | Nifty Metal | 5521.1 | 1.78 | 76287 | |
| Hdfc Bank Ltd. | 1445.2 | 0.24 | 4288714 | 0 | 64.19 | Nifty Pharma | 13547.7 | 1.99 | 76287 | |
| Sun Pharma Ltd | 797.5 | 2.43 | 5871025 | 0 | 62.84 | Nifty Auto | 10652.55 | 1.61 | 76287 | |
| Tata Consultancy Serv Lt | 3630.75 | 0.62 | 1224328 | 0 | 62.83 | Nifty Media | 2272.8 | 1.36 | 76287 | |
| Hdfc Ltd. | 2539 | -0.07 | 2763683 | 0 | 61.88 | Nifty Realty | 473.5 | 2.95 | 76287 | |
| Escorts India Ltd. | 1839.05 | 0.65 | 292901 | 0 | 60.86 | Nifty Psu Bank | 2506.8 | 1.74 | 76287 | |
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: Core Durable Goods Orders (MoM) (Nov)on 23rd December, 2021
•USD: Initial Jobless Claims on 23rd December, 2021 |
NEWS UPDATES
-
ABB India Board considered and approved Incorporation of a wholly owned subsidiary; and Sale of the Company’s Turbocharger Business as a going concern, on a slump sale basis to its wholly owned subsidiary for a consideration of INR 310 crores (“Slump Sale”). The Slump Sale will be consummated by end of February, 2022
-
PNC Infratech Limited: Company been received Letter of Award (LOA) for Project “Collection of user fee at Eastern Peripheral Expressway (EPE) Fee Plazas on National Highway No.NE II in the States of Haryana and Uttar Pradesh on EPC mode (Under PIU- Ghaziabad)” for a period of one year awarded by NHAI for a contact value of Rs. 369.00 crore (Annual Remittance to be made to NHAr).
-
Zydus Cadila has received tentative approval from the USFDA to market Pimavanserin Tablets, 10 mg (US RLD: Nuplazid Tablets). Pimavanserin is used to treat the symptoms of a certain mental/mood disorder (psychosis) that might occur with Parkinson’s disease. It helps lessen symptoms such as seeing or hearing things that are not there (hallucinations) and false beliefs (delusions).
-
Gujarat Fluorochemicals Limited (GFCL) will foray into the battery business for electric vehicles. The company has set up GFCL EV Products Limited, a wholly-owned subsidiary for the purpose.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint.
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| BVCL | General | 23-Dec-21 | BANASFN | Right Issue of Equity Shares | 24-Dec-21 |
| EASTWEST | Issue Of Warrants;Pref. Issue | 23-Dec-21 | ENBETRD | General | 24-Dec-21 |
| EMMSONS | Audited Results | 23-Dec-21 | EQUIPPP | General | 24-Dec-21 |
| GAIL | Interim Dividend;General | 23-Dec-21 | HILTON | Issue Of Warrants | 24-Dec-21 |
| IITL | General | 23-Dec-21 | RNBDENIMS | General | 24-Dec-21 |
| PALRED | General | 23-Dec-21 | SAGL | Issue Of Warrants;Right Issue;Pref. Issue | 24-Dec-21 |
| RADHEDE | General | 23-Dec-21 | SALSAIN | General | 24-Dec-21 |
| SANWARIA | Quarterly Results | 23-Dec-21 | SGIL | General | 24-Dec-21 |
| SIMPLEX | Audited Results | 23-Dec-21 | STEELXIND | General | 24-Dec-21 |
| TARMAT | Preferential Issue of shares | 23-Dec-21 | VIVIDHA | Right Issue of Equity Shares;General | 24-Dec-21 |
| TEGA | General | 23-Dec-21 | KISAN | Quarterly Results | 25-Dec-21 |
| TWL | Quarterly Results | 23-Dec-21 | LGBFORGE | Quarterly Results | 25-Dec-21 |
| UHZAVERI | Preferential Issue of shares | 23-Dec-21 | PITHP | General | 25-Dec-21 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| AQFINTECH | 23-Dec-21 | Stock Split From Rs.10/- to Rs.2/- | PTL | 23-Dec-21 | Stock Split From Rs.2/- to Rs.1/- |
| BCG | 23-Dec-21 | Final Dividend – Rs. – 0.0500 | RAJNISH | 23-Dec-21 | Bonus issue 5:4 |
| CANFINHOME | 23-Dec-21 | Interim Dividend – Rs. – 1.5000 | RAMINFO | 23-Dec-21 | Interim Dividend – Rs. – 0.5000 |
| HIKLASS | 23-Dec-21 | Stock Split From Rs.10/- to Rs.5/- | MANOMAY | 24-Dec-21 | E.G.M. |
| NEOGEN | 23-Dec-21 | E.G.M. | SHEETAL | 24-Dec-21 | Stock Split From Rs.10/- to Rs.5/- |
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