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outlook

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

  • 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.

  • 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%.

  • 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.

  • 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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