NIFTY:
NIFTY opened at 17194.50 with a gap up of 102 points. The index initially moved higher and recorded its intraday high at 17220.70 and then faces resistance there. A minor decline came and then prices formed a trading range. Prices have moved very volatile within this range and eventually broke on the downside. Prices have filled the gap, recorded its intraday low at 17027.85, and finally closed at 17063.25 near its intraday low with a loss of 28.95 points or 0.17% down. AUTO and FINANCIAL underperformed today and closed lower. BANK and IT ended on a flat note. REALTY outperformed today and ended with a gain of more than 3%.
The intraday range was relatively narrow today when compared to the last few days of price action. The Volatility remained and is likely to continue on the higher side as we have monthly expiry tomorrow. 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. Resistance is visible first around 17300 and then around 17500. 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 37628.55 with a big gap up of 288 points. The index initially went up and recorded its intraday high at 3774.60. Prices after that moved down and then consolidated in a tight range. The index has seen another leg of a down move in the last 30 minutes of trading, recorded its intraday low at 37318 and finally closed at 37358.15 with a marginal gain of just 18 points. PSU BANKS have seen an outperformance today and closed higher by 1.04%.
Trading in such an environment almost always leaves us with a lot of whipsaws because out stop losses hits very often.’ The support is visible around 36800. 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+ |
| KOTAKBANK | 1886 | 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 1890 with a stop loss of 1870 and for the target of 1920. |
| TITAN | 2495 | 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 2500 with a stop loss of 2475 and target of 2540. |
DERIVATIVE PICKS
| Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| ZEE | 550 PE | BUY | 1.5 | CMP | 0.5 | 3 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| PNB.Feb 24 | 37.3 | 0 | -3 | 1.66E+08 | ONGC.Feb 24 | 160.45 | -2.88 | 7.04 | 18603200 | |
| INDUSTOWER.Feb 24 | 248.95 | -0.02 | -6.53 | 3208800 | IDEA.Feb 24 | 10.7 | -2.28 | 40.35 | 4.03E+08 | |
| ESCORTS.Feb 24 | 1858.05 | -0.02 | -1.31 | 5513200 | HEROMOTOCO.Feb 24 | 2671.5 | -2.25 | 2.61 | 1248900 | |
| MOTHERSUMI.Feb 24 | 156.15 | -0.03 | -1.6 | 6443500 | AMBUJACEM.Feb 24 | 330.35 | -2.03 | 19.46 | 6777000 | |
| INDIAMART.Feb 24 | 4773 | -0.2 | -20.98 | 205875 | SRTRANSFIN.Feb 24 | 1181.2 | -1.99 | 23.58 | 1501200 | |
| Short Covering | Long Unwinding | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| NATIONALUM.Feb 24 | 115.5 | 0.04 | -5.15 | 40698000 | IBULHSGFIN.Feb 24 | 162.35 | -3.45 | -10.81 | 12093100 | |
| LTTS.Feb 24 | 4437.95 | 0.05 | -23.22 | 233400 | GUJGASLTD.Feb 24 | 622.75 | -3.42 | -15.54 | 468750 | |
| ZEEL.Feb 24 | 241 | 0.06 | -1.16 | 40860000 | RAMCOCEM.Feb 24 | 803.95 | -2.21 | -0.41 | 617100 | |
| BHEL.Feb 24 | 49.55 | 0.1 | -19.41 | 33568500 | MCX.Feb 24 | 1294.2 | -1.95 | -11.05 | 946750 | |
| AARTIIND.Feb 24 | 923.3 | 0.11 | -15.59 | 878900 | GRANULES.Feb 24 | 284.25 | -1.69 | -5.21 | 5270000 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Hdfc Ltd. | 2437.05 | -0.69 | 3044306 | 0 | 70.4 | Nifty 50 | 17063.25 | -0.17 | 79524 | |
| Whirlpool | 1650.35 | -0.6 | 522444 | 0 | 69.83 | Nifty Bank | 37392.05 | 0.05 | 79524 | |
| Infosys Limited | 1742.85 | 0.49 | 5478811 | 0 | 69.25 | Nifty it | 34114.3 | -0.04 | 79524 | |
| Itc Ltd. | 215.95 | 0.51 | 11014283 | 0 | 66.87 | Nifty Auto | 11318.7 | -0.21 | 79524 | |
| Dabur India Ltd. | 543.25 | -1.24 | 940986 | 0 | 66.68 | Nifty Metal | 5608.9 | 0.23 | 79524 | |
| Sbi Life Insurance Compa | 1101.75 | 0.07 | 1743770 | 0 | 66.1 | India Vix | 24.54 | -7.95 | 79524 | |
| Piind | 2534.6 | 1.59 | 196422 | 0 | 63.96 | Nifty Auto | 11318.7 | -0.21 | 79524 | |
| Reliance Industries Ltd | 2374.05 | -0.63 | 3373615 | 0 | 62.96 | Nifty Fmcg | 35933.1 | 0.15 | 79524 | |
| Nestleind | 17926.65 | -1.02 | 59248 | 0 | 62.87 | Nifty Metal | 5608.9 | 0.23 | 79524 | |
| Icici Lombard General In | 1279.9 | 0.33 | 549493 | 0 | 62.76 | Nifty Pharma | 12976.3 | 0.17 | 79524 | |
| Power Grid Corporation o | 198.05 | -0.05 | 4870098 | 0 | 62.26 | Nifty Financial Services | 17428.75 | -0.19 | 79524 | |
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
- Vodafone is in discussions to sell around five per cent stake in Indus Towers to Bharti Airtel, according to industry sources. When contacted, Vodafone refused to comment on the matter. Vodafone currently holds about 28 per cent in Indus Towers. The industry sources said that Vodafone is in talks to sell its about five per cent stake in Indus Towers, valued at over Rs 3,300 crore, to Bharti Airtel. The proceeds will be pumped into the Indian entity Vodafone Idea, they added.
- As India shapes its energy transition to cleaner fuels, billionaire Mukesh Ambani on Wednesday said technological advancements will make India a global new energy leader, exporting half a trillion dollars worth of clean energy in two decades. Ambani, who is helming a transition to green hydrogen production at its oil-dominant conglomerate, said India is today one of the most attractive opportunities for renewable energy investment anywhere in the world.
- Bosch on Wednesday said it has acquired a minority 26 per cent stake in B2B eCommerce auto spares, garage equipment and accessories Autozilla Solutions. The Hyderabad-based firm specialises in the development of electronic parts catalogues for spare parts.
- Bharti Airtel CEO Gopal Vittal on Wednesday made a strong pitch for giving out E-band backhaul spectrum with 5G radiowaves while cautioning that not doing so could put the 5G game in “serious jeopardy”. Airtel’s top boss, Vittal, also flagged issues on Right of Way, Services Level Agreement (SLAs) around Bharat Net, as well as challenges related to state-level approvals and subsidy payouts in rural connectivity projects under USO programme, and sought speedy redressal of such impediments.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint.
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| ARIHANTINS | General | 24-Feb-22 | SAREGAMA | Stock Split | 24-Feb-22 |
| BINDALEXPO | General | 24-Feb-22 | SEACOAST | General | 24-Feb-22 |
| FRONTFN | Quarterly Results | 24-Feb-22 | SMAUTO | General | 24-Feb-22 |
| ISHWATR | General | 24-Feb-22 | SPVGLOBAL | General;Rights Issue | 24-Feb-22 |
| KSB | Dividend;Quarterly Results | 24-Feb-22 | STERPOW | General | 24-Feb-22 |
| LINDEINDIA | Audited Results;Final Dividend | 24-Feb-22 | VESUVIUS | Audited Results;Dividend | 24-Feb-22 |
| MMLF | General | 24-Feb-22 | ZMILGFIN | Right Issue;In. in Auth.Cap. ;Pref. Issue | 24-Feb-22 |
| NIDHGRN | General | 24-Feb-22 | DUCON | Bonus issue;Increase in Authorised Capital | 25-Feb-22 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| 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 |
| MANAPPURAM | 24-Feb-22 | Interim Dividend – Rs. – 0.7500 | TAPARIA | 24-Feb-22 | Interim Dividend – Rs. – 50.00 |
| MISHTANN | 24-Feb-22 | Interim Dividend – Rs. – 0.0020 | ANDHRAPET | 25-Feb-22 | Interim Dividend – Rs. – 1.50 |
| MOIL | 24-Feb-22 | Interim Dividend – Rs. – 3.00 | ASHUTPM | 25-Feb-22 | E.G.M. |
| NATCOPHARM | 24-Feb-22 | Interim Dividend – Rs. – 2.00 | GORANIN | 25-Feb-22 | E.G.M. |
| NURECA | 24-Feb-22 | Interim Dividend – Rs. – 3.00 | INDOASIAF | 25-Feb-22 | E.G.M. |
| PANCHSHEEL | 24-Feb-22 | Interim Dividend – Rs. – 0.50 | JOLYPLS | 25-Feb-22 | E.G.M. |
| POBS | 24-Feb-22 | Interim Dividend – Rs. – 1.00 | MEERA | 25-Feb-22 | Interim Dividend – Rs. – 0.50 |
| POLYPLEX | 24-Feb-22 | Interim Dividend – Rs. – 35.00 | PFC | 25-Feb-22 | Interim Dividend – Rs. – 6.00 |
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