NIFTY:
NIFTY opened at 17575.15 with a gap down of 42 points. The index recorded its intraday high at 17599.40 within the first five minutes of trading and started drifting downwards. Prices have seen a sharp intraday decline of more than 600 points and recorded its intraday low at 16997.85.The minor rally fizzled out quickly and prices kept on falling.
In the last hour of trading, prices have consolidated and seen some rebound of about 150 points. The index finally closed at 17149.10 with a loss of 468.05 points or 2.66% down. All the sectoral indices have closed lower led by REALTY and METAL ended with a loss of more than 5%.AUTO,FINANCE, FMCG, and IT ended with a loss of more than 2%.
Volatility is rising from the past few trading days and it will rise more for the next few trading sessions due to the Union Budget, which is likely to be presented on February 1.The volatility index INDIA VIX is now moving above 22 which also suggests the same. We should avoid trading the index at least for this week as trading in volatile markets gives a lot of whipsaws. We should wait for prices to stabilize first and then we will plan our trade accordingly.
BANK NIFTY:
BANK NIFTY opened at 37601.95 with a gap down of 137 points. The index recorded its intraday high at 37694.70 and then started moving the downside. The decline continued almost the whole day. Prices have recorded its intraday low at 36375.30 and saw a sharp recovery in the late hour trading to finally close at 36834.90 with a loss of 904 points. PVT and PSU BANKS both have seen sharp decline today and closed lower by 1.5 1% and 2.03% respectively. Within the index, in terms of points, BANDHAN BANK contributed the highest while HDFC BANK contributed the lowest.
The short-term trend has changed down as the index is closing lower for that eight consecutive trading day. We have mentioned a support level around 37400.Today, prices have broken it decisively and ended below 37000.
TECHNICAL PICKS
| COMPANY NAME | CMP | B/S | RATIONALE+ |
| CIPLA | 892 | 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 894 with a stop loss of 885 and for the target of 905. |
| MCDOWELL-N | 855 | 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 sold below 852 with a stop loss of 862 and target of 840. |
DERIVATIVE PICKS
| Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| TITAN | 2400 PE | BUY | 23 | CMP | 13 | 50 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| PVR.Jan 27 | 1527.15 | -0.53 | -20.58 | 2018313 | FSL.Jan 27 | 155.35 | -4.98 | 4.05 | 9692800 | |
| INDUSINDBK.Jan 27 | 850.4 | -0.61 | -4.41 | 18045900 | HDFCLIFE.Jan 27 | 627.05 | -2.5 | 8.49 | 16966400 | |
| POWERGRID.Jan 27 | 213.55 | -0.65 | -5.41 | 23875841 | HEROMOTOCO.Jan 27 | 2707 | -1.41 | 3.97 | 2642100 | |
| ESCORTS.Jan 27 | 1853.55 | -0.83 | -2.36 | 5660050 | EICHERMOT.Jan 27 | 2660.4 | -1.85 | 4.52 | 2282350 | |
| VOLTAS.Jan 27 | 1177.65 | -0.84 | -11.11 | 2683500 | COFORGE.Jan 27 | 4795.05 | -7.39 | 4.16 | 563800 | |
| Short Covering | Long Unwinding | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| LUPIN.Jan 27 | 918.35 | 1.77 | -1.48 | 5050700 | HINDCOPPER.Jan 27 | 119.5 | -9.06 | -8.66 | 9847000 | |
| CIPLA.Jan 27 | 890.75 | 2.83 | -5.45 | 9159800 | GODREJPROP.Jan 27 | 1646.5 | -8.48 | -3.21 | 2880800 | |
| BANDHANBNK.Jan 27 | 306.65 | 3.63 | -16.91 | 20190600 | IDEA.Jan 27 | 11 | -8.33 | -2.86 | 5.86E+08 | |
| ZEEL.Jan 27 | 266.3 | -8.06 | -1.29 | 64434000 | ||||||
| GNFC.Jan 27 | 445.45 | -7.94 | -1.48 | 2516800 | ||||||
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Max Financial Services l | 909.3 | -2.57 | 838522 | 0 | 79.77 | Nifty 50 | 17149.1 | -2.66 | 77607 | |
| Alembic Pharmaceuticals | 756 | -2.34 | 412915 | 0 | 71.21 | Nifty Bank | 36947.55 | -1.67 | 77607 | |
| Dabur India Ltd. | 546.1 | -0.99 | 2431761 | 0 | 68.39 | Nifty it | 34821.6 | -3.42 | 77607 | |
| Muthootfin | 1441.9 | 0.64 | 1075305 | 0 | 67.23 | Nifty Metal | 5420.45 | -5.23 | 77610 | |
| Infosys Limited | 1736.8 | -2.74 | 7116712 | 0 | 66.94 | Nifty Realty | 462.2 | -5.9 | 77607 | |
| Crompton Greaves Consume | 412.6 | -1.77 | 826559 | 0 | 66.19 | India Vix | 22.83 | 20.86 | 77607 | |
| Colgate Palmolive (india | 1404.1 | -2.82 | 378951 | 0 | 65.71 | Nifty Auto | 11261.2 | -2.6 | 77607 | |
| Larsen & Toubro Limited | 1899.9 | -2.87 | 2307120 | 0 | 64.97 | Nifty Fmcg | 35941.35 | -2.37 | 77607 | |
| Atul Ltd. | 9287.15 | -3.98 | 34460 | 0 | 64.03 | Nifty Media | 2126.05 | -4.59 | 77610 | |
| Mahanagar Gas Limited | 816.25 | -4.29 | 919745 | 0 | 63.57 | Nifty Pharma | 12998.6 | -1.85 | 77607 | |
| Divi S Laboratories Limi | 4056.6 | -2.94 | 1397434 | 0 | 63.2 | Nifty Financial Services | 17633.45 | -2.29 | 77610 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: FX Reserves, USD on 28th January, 2022
INR: Bank Loan and Deposit growth on 28th January, 2022 |
•USD: CB Consumer Confidence on 25th January 2022
•USD: New Home Sales (Dec) on 26th January, 2022 |
NEWS UPDATES
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Reliance Industries Ltd. says its energy exploration business is set to reap the rewards of a global fuel shortage that pushed gas prices to records last year. The conglomerate, controlled by billionaire Mukesh Ambani, expects India in April to raise the price cap for its offshore gas sales by nearly 60% to around $10 per million British thermal units, Sanjay Roy, senior vice president for exploration and production, said Friday. The government sets the cap every six months based on international rates.
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Axis Bank on Monday reported 224% jump in standalone net profit at Rs 3,614 crore for the quarter ending December 31, 2021 on strong growth performance across deposits and loans, improving asset quality. The lender reported net profit of Rs 1,117 crore in the year-ago period. The bank’s net interest income (NII) grew 17% YoY to Rs 8,653 crore. Net interest margin (NIM) for Q3FY22 improved by 14 bps QoQ to 3.53%.
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Chennai-based vertically integrated defence and aerospace electronics solutions provider Data Patterns (India) has received a development order for Rs 27 crore from Defence Research and Development Organisation (DRDO) for the next generation wideband RF front end units for Electronic Warfare (EW) receivers. The order is for a new programme that will allow next-generation wideband EW receivers to be configured for naval, land and aerial platforms.
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JSW Steel Ltd.’s sales rose in the third quarter, they’re likely to fall a tad bit short of the full-year target. The steelmaker expects to achieve at least 94-95% of FY22 sales target of 17.4 million, Joint Managing Director Seshagiri Rao told BloombergQuint in an interview. The miss, according to him, is on account of late expansion of Bhushan Power & Steel Ltd.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint.
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| ALLSEC | Quarterly Results | 25-Jan-22 | MAXINDIA | Quarterly Results | 25-Jan-22 |
| APLAPOLLO | Quarterly Results | 25-Jan-22 | MPSLTD | Quarterly Results | 25-Jan-22 |
| CANFINHOME | General;Quarterly Results | 25-Jan-22 | PIDILITIND | Quarterly Results | 25-Jan-22 |
| CARTRADE | Quarterly Results | 25-Jan-22 | RANEENGINE | Issue Of Warrants;Pref. Issue;Results | 25-Jan-22 |
| CIPLA | Quarterly Results | 25-Jan-22 | RAYMOND | Quarterly Results | 25-Jan-22 |
| COSMOFILMS | Interim Dividend;Quarterly Results | 25-Jan-22 | RESONANCE | Quarterly Results | 25-Jan-22 |
| DECCANCE | Quarterly Results | 25-Jan-22 | RPGLIFE | Quarterly Results | 25-Jan-22 |
| EMKAY | Quarterly Results | 25-Jan-22 | SNOWMAN | Quarterly Results | 25-Jan-22 |
| FEDERALBNK | Quarterly Results | 25-Jan-22 | SRF | Interim Dividend;General;Results | 25-Jan-22 |
| FINOLEXIND | Quarterly Results | 25-Jan-22 | STARCEMENT | Quarterly Results | 25-Jan-22 |
| IBREALEST | General;Quarterly Results | 25-Jan-22 | SUNDARAM | General;Quarterly Results | 25-Jan-22 |
| ICRA | Quarterly Results | 25-Jan-22 | SUPRAP | General | 25-Jan-22 |
| IFCI | Preferential Issue of shares | 25-Jan-22 | SWARAJENG | Quarterly Results | 25-Jan-22 |
| IL&FSENGG | General | 25-Jan-22 | SYMPHONY | Interim Dividend;Results | 25-Jan-22 |
| IONEXCHANG | Quarterly Results | 25-Jan-22 | TORNTPHARM | Interim Dividend;Quarterly Results | 25-Jan-22 |
| LODHA | Quarterly Results | 25-Jan-22 | UNITDSPR | Quarterly Results | 25-Jan-22 |
| MARUTI | Quarterly Results | 25-Jan-22 | UTTAMSTL | Quarterly Results | 25-Jan-22 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| LTTS | 25-Jan-22 | Interim Dividend – Rs. – 10.0000 | PERSISTENT | 27-Jan-22 | Interim Dividend – Rs. – 20.0000 |
| BEPL | 27-Jan-22 | Interim Dividend – Rs. – 1.0000 | SUPERIOR | 27-Jan-22 | Stock Split From Rs.10/- to Rs.1/- |
| CHOTHANI | 27-Jan-22 | E.G.M. | RKFORGE | 28-Jan-22 | Interim Dividend – Rs. – 0.5000 |
| GROWINGTON | 27-Jan-22 | E.G.M. | CCL | 31-Jan-22 | Interim Dividend – Rs. – 3.0000 |
| PACL | 27-Jan-22 | Stock Split From Rs.10/- to Rs.2/- | MASTEK | 31-Jan-22 | Interim Dividend – Rs. – 7.0000 |
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