Morning-Outlook-Feature-Image

Morning-outlook-25feb

NIFTY:

NIFTY opened at 16548.90 with a big gap down of 515 points due to the tension between Russia and Ukraine. The index initially moved higher and recorded its intraday high at 16705.25. Prices then started moving downwards. The decline continued for the whole day, moved down another 500 points from its early morning high, and recorded its intraday low at  17203.25. The index finally closed at 16247.95 near its intraday low with a loss of 815.30 points or 4.78% down. All the sectoral indices have seen a decline today and closed lower. Most of the indices have incurred a loss of more than 5% while FMCH and PHARMA ended with a loss of around 3.5%.

It was again a trend day today on the downside where prices have recorded its intraday high near the opening tick and intraday low near the closing tick. Next support is visible around 15500. As of now, we are in an environment of fear. In such an environment we should step aside and do not indulge ourselves in any kind of trading. 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 36085.20 with a big gap down of 1273 points. The index initially went up and recorded its intraday high at 36709.15. Prices after that moved down and kept on drifting downwards to record its intraday low at 34991.35.The index finally closed at 35095.25 with a big loss of 2263 points. PSU and PVT BANKS both indices have seen sharp intraday decline today and closed lower by 8.26% and 5.98% respectively. Within the index, in terms of points, ICICI BANK contributed the highest on the downside followed by HDFC BANK.

The trend is down now as the index broken down crucial support levels. Next support is visible around 34000. However, in a fear environment , these support and resistance level do not work.  Volatility is very high. We should avoid trading the index and wait markets to stabilize first.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
BAJAJFIN 6627 SELL The stock is on the verge of giving the breakdown on the intraday as well as the daily chart. The stock can be sell below 6620 with a stop loss of 6800 and for the target of 6490.
RELIANCE 2255 SELL The  immediate trend of the script is bearish. There is a negative cross over of moving averages  as well as of the indicators therefore  it can be sell below 2250 with a stop loss of 2285 and target  of 2200.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
TATA POWER 200 PE BUY 9.70 CMP 6 15 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
PNB.Feb 24 31.85 -14.84 6.14 1.71E+08
RAIN.Feb 24 183.8 -13.59 1.86 2872500
INDIGO.Feb 24 1812.3 -11.31 23.66 543500
SAIL.Feb 24 85.3 -10.02 6.22 37477500
GODREJPROP.Feb 24 1442.6 -9.82 4.08 1219725
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
NAM-INDIA.Feb 24 314.85 0.82 -19.07 611200 INDUSTOWER.Feb 24 206 -17.68 -46.22 1156400
INDIAMART.Feb 24 4957.3 3.8 -60.22 61275 IDFCFIRSTB.Feb 24 38.25 -11.56 -28.64 29481600
AMARAJABAT.Feb 24 521 -11.42 -24.92 1449000
NBCC.Feb 24 34.8 -11.34 -7.68 9228000
L&TFH.Feb 24 62.05 -11.23 -8.78 21970888

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Whirlpool 1624.1 -1.59 283594 0 88.3 Nifty 50 16247.95 -4.78 81939
Escorts India Ltd. 1795.2 -3.39 2213011 0 85.2 Nifty Bank 35228.1 -5.79 81939
Hindustan Unilever Ltd 2171.4 -3.94 2997629 0 78.03 Nifty it 32547.9 -4.59 81939
Hdfc Ltd. 2343.05 -3.86 5058230 0 72.61 Nifty Metal 5313.65 -5.26 81939
Icici Lombard General In 1240.85 -3.05 838799 0 72.5 Nifty Media 1907.6 -6.95 81939
Sbi Life Insurance Compa 1054.2 -4.32 2088599 0 72.42 India Vix 31.98 30.32 81939
Colgate Palmolive (india 1397.35 -2.44 477460 0 69.19 Nifty Auto 10609.8 -6.26 81939
Infosys Limited 1678.15 -3.71 13592379 0 67.76 Nifty Fmcg 34735.15 -3.33 81939
City Union Bank Ltd. 122.8 -5.03 3276167 0 67.65 Nifty Realty 411.75 -7.17 81939
Power Grid Corporation o 191.1 -3.51 9858778 0 64.72 Nifty Pharma 12500.1 -3.67 81939
Honeywell Auto India Ltd 39768.05 -2.38 9299 0 64.51 Nifty Financial Services 16531.55 -5.15 81939

UPCOMING ECONOMIC DATA

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

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

•USD: Core Durable Goods Orders (MoM) (Jan) on 25th February 2022

•USD:  Pending Home Sales (MoM) (Jan) on 25th February 2022

NEWS UPDATES

  • Vodafone Idea Ltd (VIL) on Thursday announced a collaboration with A5G Networks, with a view to spurring industry 4.0 and smart mobile edge computing in India. The two companies have jointly set up a pilot private network in Mumbai utilising existing 4G spectrum, according to a statement.
  • NHPC on Thursday said it has inked a pact with HDFC bank to securitise return on equity of its 540-MW Chamera-I Power Plant in Himachal Pradesh for 10 years. “NHPC Ltd has signed a facility agreement today i.e. February 24, 2022, (on Thursday) with HDFC Bank Ltd to securitise the return on equity of Chamera-I Power Station (3 X 180 MW), Himachal Pradesh, for a tenor of 10 years,” according to a BSE filing.
  • India is considering partnering with private companies to operate mines which have been previously shut or production discontinued by state-run Coal India Ltd, the federal coal ministry said in a statement on Thursday. Coal India, which accounts for over 80% of India’s output, was looking to offer more than 100 such mines to the private sector on a revenue sharing basis in “due course of time,” the coal ministry said.
  • Vedanta Aluminium, India’s largest manufacturer of aluminium, launched a low carbon brand on Thursday as a step towards its commitment of achieving net- zero carbon by 2050. Vedanta Aluminium unveiled two product lines – Restora (low carbon aluminium) and Restora Ultra (ultra-low carbon aluminium) -under the brand and said that it was the first major non-ferrous Indian metals producer to manufacture low carbon products (primary aluminium) for customers worldwide.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
AGOL General 25-Feb-21 RAIN Audited Results 25-Feb-21
ESTER General;Employees Stock Option Plan 25-Feb-21 RESPONIND General 25-Feb-21
GCMCOMM General 25-Feb-21 SHAHLON General 25-Feb-21
GRMOVER General 25-Feb-21 SOUTHBANK Preferential Issue of shares 25-Feb-21
HINDMOTORS General 25-Feb-21 SPMLINFRA Preferential Issue of shares 25-Feb-21
KSB Quarterly Results;General;Dividend 25-Feb-21 TIRUSTA General 25-Feb-21
MAWANASUG General 25-Feb-21 VESUVIUS Audited Results;General;Dividend 25-Feb-21
POWERINDIA General 25-Feb-21 XOINFO General 25-Feb-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ANDHRAPET 25-Feb-22 Interim Dividend – Rs. – 1.5000 DATAINFRA 02-Mar-22 Income Distribution (InvIT)
ASHUTPM 25-Feb-22 E.G.M. FACORALL 02-Mar-22 E.G.M.
GORANIN 25-Feb-22 E.G.M. PRISMX 02-Mar-22 Right Issue of Equity Shares
INDOASIAF 25-Feb-22 E.G.M. TANAA 02-Mar-22 Interim Dividend – Rs. – 0.5000
JOLYPLS 25-Feb-22 E.G.M. CONTAINER 03-Mar-22 Stock  Split From Rs.10/- to Rs.5/-
MEERA 25-Feb-22 Interim Dividend – Rs. – 0.5000 PGFOILQ 03-Mar-22 E.G.M.
PFC 25-Feb-22 Interim Dividend – Rs. – 6.0000 JAYSHREETEA 07-Mar-22 E.G.M.
SVAMSOF 25-Feb-22 E.G.M. NOUVEAU 07-Mar-22 Stock  Split From Rs.10/- to Rs.1/-
EASEMYTRIP 28-Feb-22 Bonus issue 1:1 DEEP 08-Mar-22 Bonus issue 3:4
GLITTEKG 28-Feb-22 E.G.M. VIPIND 08-Mar-22 Interim Dividend

Disclosure in pursuance of Section 19 of SEBI (RA) Regulation 2014

Elite Wealth Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only information in making their investment decision and must exercise their own judgment before making any investment decision.
For analyst certification and other important disclosures, see the Disclosure Appendix, or go to www.elitewealth.in. Analysts employed by Elite Wealth Limited are registered/qualified as research analysts with SEBI in India.( SEBI Registration No.: INH100002300)
Disclosure Appendix
Analyst Certification (For Reports)
Israil Khan, Elite Wealth Limited, suhail@elitewealth.in
The analyst(s) certify that all of the views expressed in this report accurately reflect my/our personal views about the subject company or companies and its or their securities. I/We also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report. Unless otherwise stated, the individuals listed on the cover page of this report are analysts in Elite Wealth Limited.
As to each individual report referenced herein, the primary research analyst(s) named within the report individually certify, with respect to each security or issuer that the analyst covered in the report, that:
(1) all of the views expressed in the report accurately reflect his or her personal views about any and all of the subject securities or issuers; and
(2) no part of any of the research analyst’s compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed in the report.
For individual analyst certifications, please refer to the disclosure section at the end of the attached individual notes.
Research Excerpts
This note may include excerpts from previously published research. For access to the full reports, including analyst certification and important disclosures, investment thesis, valuation methodology, and risks to rating and price targets, please visit www.elitewealth.in.
Company-Specific Disclosures
Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting https://www.elitewealth.in, or emailing research@elitestock.com with your request. Elite Wealth Limited may screen companies based on Strategy, Technical, and Quantitative Research. For important disclosures for these companies, please e-mail research@elitestock.com.
Options related research:
If the information contained herein regards options related research, such information is available only to persons who have received the proper option risk disclosure documents. For a copy of the risk disclosure documents, please contact your Broker’s Representative or visit the OCC’s website at https://www.elitewealth.in
Other Disclosures
All research reports made available to clients are simultaneously available on our client websites. Not all research content is redistributed, e-mailed or made available to third-party aggregators. For all research reports available on a particular stock, please contact your respective broker’s sales person.
Ownership and material conflicts of interest Disclosure
Elite Wealth Limited policy prohibits its analysts, professionals reporting to analysts from owning securities of any company in the analyst’s area of coverage. Analyst compensation: Analysts are salary based permanent employees of Elite Wealth Limited. Analyst as officer or director: Elite Wealth Limited policy prohibits its analysts, persons reporting to analysts from serving as an officer, director, board member or employee of any company in the analyst’s area of coverage.
Country Specific Disclosures
India – For private circulation only, not for sale.
Legal Entities Disclosures
Mr. Ravinder Parkash Seth is the Managing Director of Elite Wealth Ltd (EWL, henceforth), having its registered office at Casa Picasso, Golf Course Extension, Near Rajesh Pilot Chowk, Radha Swami, Sector-61, Gurgaon-122001 Haryana, is a SEBI registered Research Analyst and is regulated by Securities and Exchange Board of India. Telephone:011-43035555, Facsimile: 011-22795783 and Website: www.elitewealth.in
EWL discloses all material information about itself including its business activity, disciplinary history, the terms and conditions on which it offers research report, details of associates and such other information as is necessary to take an investment decision, including the following:
1. Reports
a) EWL or his associate or his relative has no financial interest in the subject company and the nature of such financial interest;
(b) EWL or its associates or relatives, have no actual/beneficial ownership of one per cent. or more in the securities of the subject company, at the end of the month immediately preceding the date of publication of the research report or date of the public appearance;
(c) EWL or its associate or his relative, has no other material conflict of interest at the time of publication of the research report or at the time of public appearance;
2. Compensation
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) EWL or its associates have not managed or co-managed public offering of securities for the subject company in the past twelve months;
(c) EWL or its associates have not received any compensation for investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(d) EWL or its associates have not received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(e) EWL or its associates have not received any compensation or other benefits from the Subject Company or third party in connection with the research report.
3 In respect of Public Appearances
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) The subject company is not now or never a client during twelve months preceding the date of distribution of the research report and the types of services provided by EWL

FILING COMPLAINTS ON SCORES - EASY & QUICK

a. Register on SCORES portal

b. Mandatory details for filing complaints on SCORES:
i. Name, PAN, Address, Mobile Number, E-mail ID

c. Benefits:
i. Effective communication
ii. Speedy redressal of the grievances

SEBI : https://www.scores.gov.in/scores/complaintRegister.html