Morning-Outlook-Feature-Image
Outlook

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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