Outlook-24-12-2021

NIFTY:

NIFTY opened at 17066.80 with a gap up of 111 points. The index rallied further on the upside towards 17100 and then started moving on the downside. Prices have recorded its intraday low at 17066.80 and failed to fill the gap. A rally then took index again above 17100 and prices have recorded its intraday high at  17118.65. The index then again moved down towards the end of today’s trading session and finally closed at 17072.60 near the opening tick with a gain of 117.15 points or 0.69% up. The REALTY outperformed today and closed higher by 2.31%.FMCG and IT also performed well today and ended more than 1% higher. MEDIA was the biggest underperformer and lost more than 1%.

As of now, the short-term trend is sideways as we are seeing a relief rally after a sharp fall of more than 900 points. However, today’s closing above 17000 has given us a trading opportunity. Moreover, Prices have made a pattern of the DOJI today which suggests confusion amongst the traders. This confusion will resolve one way or the other. So, we should be looking to take a trade on any sign of strength or weakness. Look to buy above 17200 or sell short below 16950. Keep a stop of 110 points and a target of 220 points. Take only one trade whichever is executed first.

BANK NIFTY:

BANK NIFTY opened at 35350.50 with a gap up of 257 points. The index first moved down and filled the gap. Prices then bounced up, broke early morning highs and recorded its intraday high at 35477.30.The index again turned down, erases all the gains, recorded its intraday low at 35046.25 and finally closed at 35083.60 without much of a change.

PSU BANKS have seen a sharp upside move today and closed higher by 1.56%.PVT BANKS have also closed higher with marginal gains of 0.32%.Within the index, in terms of points, SBIN contributed the highest while ICIC IBANK contributed the lowest. Tomorrow we should look for a shorting opportunity. The idea is to wait till09:30 AM and then look to sell short below 34800 or the low recorded in the first 15 minutes of trading (choose which ever is the highest). Keep a stop of 300 points and a target of 700 points from your entry price.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
TORNTPHARMA 3162 BUY The stock is on the verge of giving the breakout on the intraday as well as the daily chart. The stock can be bought above 3170 with a stop loss of 3120 and for the target of 3250.
SIEMENS 2424 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 2432 with a stop loss of 2390 and target  of 2520.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
POWERGRID 210 CE BUY 2.80 CMP 1.40 5 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
FINNIFTY.Dec 28 17060.05 0.02 13.64 2000 JSWSTEEL.Dec 30 648.95 -2.14 0.41 39969450
IPCALAB.Dec 30 2028.75 0.03 0.63 2468250 DIVISLAB.Dec 30 4496.45 -1.59 3.54 2353100
DALBHARAT.Dec 30 1851.1 0.06 6.3 523250 METROPOLIS.Dec 30 3247.05 -1.53 15.97 615800
RAMCOCEM.Dec 30 995.35 0.09 2.38 1681300 LTI.Dec 30 7061.85 -1.01 2.82 739350
MCDOWELL-N.Dec 30 904.7 0.09 0.63 15276250 PIIND.Dec 30 2935.4 -0.92 0.59 1495750
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
ALKEM.Dec 30 3455 -0.02 0.64 380200 ZEEL.Dec 30 340.1 -2.52 -1.79 75108000
OFSS.Dec 30 4004.7 -0.06 1.12 596375 IDEA.Dec 30 13.75 -1.79 -0.86 5.18E+08
MOTHERSUMI.Dec 30 215.25 -0.07 1.96 27100500 SAIL.Dec 30 111.45 -1.42 -1.19 1.27E+08
HAL.Dec 30 1244.5 -0.09 0.09 2664750 IDFCFIRSTB.Dec 30 47.6 -1.24 -0.82 1.31E+08
UBL.Dec 30 1585.1 -0.09 4.57 1209950 INDHOTEL.Dec 30 180.05 -0.91 -0.51 13308798

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Mahanagar Gas Limited 858.2 0.85 541699 0 68.59 Nifty 50 17072.6 0.69 80118
Kotak Mahindra Bank Limi 1775.6 0.75 1919649 0 67.57 Nifty Bank 35191.15 0.46 80121
Colgate Palmolive (india 1465.05 1.79 753097 0 67.15 Nifty Pharma 13644.5 0.71 80121
Infosys Limited 1857.6 1.8 4112933 0 66.91 Nifty Auto 10731.05 0.74 80124
Hdfc Ltd. 2571.15 1.27 1777068 0 66.73 Nifty it 37362.85 1.01 80121
Atul Ltd. 8815.1 2.39 25280 0 66.06 India Vix 15.83 -4.52 80121
Reliance Industries Ltd 2365.25 -0.04 4186912 0 65.35 Nifty Media 2247.8 -1.1 80124
Icici Lombard General In 1353.85 0.64 510565 0 65.3 Nifty Realty 484.45 2.31 80124
Britannia Ind Ltd. 3554.6 1.65 163291 0 65.29 Nifty Fmcg 36995.1 1.34 80121
City Union Bank Ltd. 135.9 0.04 1121808 0 64.1 Nifty Mnc 18949.35 0.73 80121

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: CB Consumer Confidence (Dec) on 28th December, 2021

NEWS UPDATES

  • Indian Oil Corporation (IOC) will set up a new crude oil pipeline that will run from Mundra in Gujarat to Panipat in Haryana and will have a capacity of 17.5 million tonnes per annum (mmtpa). A company statement IOC would build nine crude oil tanks of 60,000 kilolitres each at Mundra, increasing its operational and storage requirements in the country. The total estimated cost of the project is Rs 9,028 crore. The investment proposal was approved by the IndianOil Board, at its meeting held on December 20.

  • Ashok Leyland, India’s leading commercial vehicle manufacturer, on Thursday launched a new truck called AVTR 3120. The launch of the three-axle 6×2 Dual Tyre Lift Axle (DTLA) truck makes Ashok Leyland the first and only player in the country to have a full range of dual tyre lift axle (DTLA) truck range: having 31T, 40.5T, and 47.5T GVW nodes, said the company.

  • Two-wheeler maker Hero MotoCorp on Thursday said it will make an upward revision in the ex-showroom prices of its motorcycles and scooters, with effect from January 4, 2022. The price revision has been necessitated to partially offset the impact of steadily increasing commodity prices.

  • GMR Infrastructure on Thursday said it has received approval from the National Company Law Tribunal for the restructuring plan involving the demerger of the non-airport business. GMR Infrastructure had unveiled the rejig plan on August 27 last year, to simplify the corporate holding structure and to attract sector-specific global investors.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
BANASFN Right Issue of Equity Shares 24-Dec-21 LGBFORGE Quarterly Results 25-Dec-21
ENBETRD General 24-Dec-21 LLOYDSTEEL Increase in Authorised Capital;General 25-Dec-21
EQUIPPP General 24-Dec-21 PITHP General 25-Dec-21
GSS Scheme of Arrangement;General 24-Dec-21 BHATIA Stock  Split;General 27-Dec-21
HILTON Issue Of Warrants 24-Dec-21 GESHIP Buy Back of Shares 27-Dec-21
RNBDENIMS General 24-Dec-21 IWEL Issue Of Warrants;Pref. Issue of shares 27-Dec-21
SAGL Issue Of Warrants;Right Issue ;Pref. Issue 24-Dec-21 MSRINDIA Reduction of Capital 27-Dec-21
SALSAIN General 24-Dec-21 NARPROP General 27-Dec-21
SGIL General 24-Dec-21 NIDHGRN Preferential Issue of shares 27-Dec-21
STEELXIND General 24-Dec-21 SAVERA General 27-Dec-21
VIVIDHA Right Issue of Equity Shares;General 24-Dec-21 SDBL Right Issue of Equity Shares;General 27-Dec-21
KABRAEXTRU Issue Of Warrants;Pref. Issue of shares 25-Dec-21 ADVIKCA Increase in Authorised Capital;Pref. Issue 28-Dec-21
KISAN Quarterly Results 25-Dec-21 DIAMINESQ General 28-Dec-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
MANOMAY 24-Dec-21 E.G.M. MOIL 30-Dec-21 Buy Back of Shares
SHEETAL 24-Dec-21 Stock  Split From Rs.10/- to Rs.5/- PQIF 30-Dec-21 Stock  Split From Rs.10/- to Rs.2/-
NINSYS 29-Dec-21 E.G.M. SAHYADRI 30-Dec-21 Interim Dividend – Rs. – 3.0000
ANDHRSUGAR 30-Dec-21 Stock  Split From Rs.10/- to Rs.2/- TAPARIA 30-Dec-21 Interim Dividend – Rs. – 70.0000
GAIL 30-Dec-21 Interim Dividend – Rs. – 4.0000 VISAGAR 31-Dec-21 E.G.M.

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