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Outlook

NIFTY:

NIFTY opened at 16847.95 with a big gap down of 359 points. The index recorded its intraday low at 16843.80 a few ticks below the opening price and within the first five minutes of trading. The index started moving higher after opening and continued that momentum for almost the whole day. Minor dips and consolidation were used to buy or add positions on the long side. Prices have recorded its intraday high at 17148.55 and then saw a minor correction in the last hour of trading to finally close at 17092.20 with a loss of 114.45 points or 0.67% down. All the sectoral indices have seen a decline today and closed lower. MEDIA and REALTY were the worst hit and ended almost 3% lower. BANK. FMCG and IT incurred a loss of nearly 1%.

It has been almost two weeks since the index is moved volatile due to a geopolitical issue. The volatility is likely to continue on the higher side as we have monthly expiry on Thursday. The short ­term trend is sideways. Strong support is visible inside the 16800 ­ 16900 zone. In the last four months, prices have come close to this zone six times and every time these levels were held. As of now, 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. We need to wait for the volatility to cool off.

BANK NIFTY:

BANK NIFTY opened at 36833 with a big gap down of 869 points. The index recorded its intraday low at 36818.10 a few ticks below the opening price and then bounced up. Prices have kept on moving higher and recorded its intraday high at 38659.40. A sharp decline came in the last hour of trading and the index finally closed at 37340.80 with a loss of 362 points. PSU BANKS have continued its underperformance and closed lower by 1.48%. PVT BANKS have also saw an intraday decline and ended with a loss of 0.65%.

A process of consolidation has begun. The support is visible around 36800 and prices have respected this support today as well. Resistance is visible around 39000 We should avoid trading the index and wait for a clear sense of a direction.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
APOLLOHOSP 4576 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 4580 with a stop loss of 4520 and for the target of 4680.
MUTHOOTFIN 1348 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 1350 with a stop loss of 1330 and target  of 1380.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
DABUR    550 CE BUY 3.40 CMP 1 7 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
TATACONSUM.Feb 24 714.2 0 15.06 8274825 DLF.Feb 24 325.4 -6.29 1.51 26381850
HAVELLS.Feb 24 1200.25 0.02 18.13 3564000 TATASTEEL.Feb 24 1133.9 -4.03 3.33 22927900
ESCORTS.Feb 24 1859 0.05 0.42 5773350 STAR.Feb 24 341.85 -3.58 1.9 3135600
BAJFINANCE.Feb 24 7013 0.2 6.14 3152625 GODREJCP.Feb 24 781.85 -3.37 18.41 4344000
COFORGE.Feb 24 4414.05 0.22 11.87 556900 SBILIFE.Feb 24 1099.7 -2.69 9.82 6089250
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
LALPATHLAB.Feb 24 2685.05 0.01 -8.39 520125 RAIN.Feb 24 208.15 -5.86 -2.01 5127500
INDHOTEL.Feb 24 204.75 0.12 -2.65 11370194 ZEEL.Feb 24 240.75 -5.24 -0.16 56517000
L&TFH.Feb 24 70 0.14 -20.65 41800016 MCX.Feb 24 1315.7 -4.6 -5.89 1225700
RBLBANK.Feb 24 138.4 0.18 -19.55 22788200 BPCL.Feb 24 354.45 -3.96 -3.29 17434800
OBEROIRLTY.Feb 24 893.65 0.2 -5.97 2051000 CROMPTON.Feb 24 379.4 -3.24 -7.34 2137300

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Navin Fluorine Internati 3850.2 0.84 119119 0 68.26 Nifty 50 17092.2 -0.67 74730
Icici Lombard General In 1275.75 0.71 668981 0 67.5 Nifty Bank 37371.65 -0.83 74733
Hdfc Ltd. 2453.95 0.7 4603937 0 67.14 Nifty it 34129.55 -0.99 74733
Syngene 543.25 -0.88 438711 0 66.4 Nifty Auto 11343.05 -0.16 74733
Crompton Greaves Consume 380 -3.14 2316769 0 65.34 Nifty Metal 5595.9 -1.11 74733
Marico Limited 505.35 -0.37 1586579 0 65.31 India Vix 26.66 16.43 74733
Tata Consultancy Serv Lt 3586.4 -3.58 5407806 0 64.87 Nifty Media 2035.2 -3.3 74733
Infosys Limited 1734.35 0.21 8877855 0 64.06 Nifty Fmcg 35879.85 -0.89 74733
Abb Limited 2067.3 -1.61 306750 0 62.53 Nifty Realty 430 -2.91 74733
Havells India Limited 1203.45 0.19 847275 0 61.17 Nifty Pharma 12954.5 -0.58 74733
Hindustan Unilever Ltd 2269.95 -1.08 902632 0 59.52 Nifty Financial Services 17462.7 -0.38 74733

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: FX Reserves on 25th February, 2022

INR: Bank Loan and Deposit Growth on 25th February, 2022

•USD: Initial Jobless Claims on 24th February 2022

•USD: GDP (QoQ) (Q4) on 24th February 2022

NEWS UPDATES

  • Godrej Agrovet Limited, today announced the launch of Gracia (Fluxametamide, an isoxazoline compound) in the Indian market. It is a patented chemistry discovered and developed by Japan’s Nisan Chemical Corporation and will be introduced in India through collaboration with Godrej Agrovet.
  • SBI Life Insurance Company (SBI Life) on Monday said its promoter BNP Paribas Cardif, holding 0.2 per cent share capital, has requested to be reclassified as a public shareholder. The company has received request from BNP Paribas Cardif, one of the promoters of the company, holding 0.20 per cent of the paid-up share capital of the company, vide letter dated February 21, 2022 for reclassifying its shareholding in the company from the promoter and promoter group category to public category.
  • Indian Hotels Company Ltd (IHCL) on Tuesday announced the addition of its second hotel in Rishikesh with the signing of a new SeleQtions resort. The formerly operating resort will be rebranded as Anand Kashi, an IHCL SeleQtions resort post renovation.
  • HPCL chairman and managing director MK Surana warned of supply chain disruption even as the escalating Russia-Ukraine crisis pushed crude oil close to $100 a barrel on February 22. Brent crude, the global benchmark, was up $3.48, or 3.7 percent, at $98.87 at around 2.30 pm, having earlier reached $99.38, the highest since September 2014, Reuters reported.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
AGIOPAPER General 23-Feb-22 SWORDEDGE General 23-Feb-22
APTECHT General 23-Feb-22 VANICOM General 23-Feb-22
BPCAP General 23-Feb-22 WELSPUNIND General 23-Feb-22
GAMMONIND Quarterly Results 23-Feb-22 ZUARI General 23-Feb-22
GOGIACAP General 23-Feb-22 ARIHANTINS General 24-Feb-22
SANOFI Audited Results;Final Dividend 23-Feb-22 BINDALEXPO General 24-Feb-22
SEAGOLD General 23-Feb-22 FRONTFN Quarterly Results 24-Feb-22
SHESHAINDS General 23-Feb-22 ISHWATR General 24-Feb-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ASHIANA 23-Feb-22 Interim Dividend – Rs. – 0.40 MANAPPURAM 24-Feb-22 Interim Dividend – Rs. – 0.7500
BDL 23-Feb-22 Interim Dividend – Rs. – 7.30 MISHTANN 24-Feb-22 Interim Dividend – Rs. – 0.0020
DCMSRMIND 23-Feb-22 Interim Dividend – Rs. – 1.00 MOIL 24-Feb-22 Interim Dividend – Rs. – 3.00
HIKAL 23-Feb-22 Interim Dividend – Rs. – 1.20 NATCOPHARM 24-Feb-22 Interim Dividend – Rs. – 2.00
JBCHEPHARM 23-Feb-22 Interim Dividend – Rs. – 8.50 NURECA 24-Feb-22 Interim Dividend – Rs. – 3.00
MODISNME 23-Feb-22 Interim Dividend – Rs. – 1.00 PANCHSHEEL 24-Feb-22 Interim Dividend – Rs. – 0.50
PARENTLD 23-Feb-22 E.G.M. POBS 24-Feb-22 Interim Dividend – Rs. – 1.00
STARLENT 23-Feb-22 Interim Dividend – Rs. – 0.0100 POLYPLEX 24-Feb-22 Interim Dividend – Rs. – 35.00
BECTORFOOD 24-Feb-22 Interim Dividend – Rs. – 1.2500 RAMASTEEL 24-Feb-22 Interim Dividend – Rs. – 0.50
HKG 24-Feb-22 Bonus issue 1:2 SANDESH 24-Feb-22 Interim Dividend – Rs. – 5.00

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