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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