Morning-Outlook-Feature-Image
Outlook

NIFTY:

Nifty opened at 16515.65 with a big gap up of 268 points on the back of a rally in global equity indices. The index recorded its intraday low at 16478.30 within the first five minutes of trading. Prices then started moving upwards. The rally continued till afternoon and prices have bounced up more than 200 points to record its intraday high at 16748.80. The index faces strong resistance there. Prices have moved volatile and sideways in the latter half within a narrow range and finally closed at 16658.40 with a gain of 410.45 points or 2.53% up. All the sectoral indices have seen an upside move today and closed higher. METAL,REAL1Y outperformed by closing more than 5% higher. BANK, FINANCIAL, and PHARMA followed by closing more than 3% higher.

A Volatility is very high as the volatility index ‘INDIA VIX’ is moving above 25. However, it has seen a sharp decline as it was moving above 30 yesterday. It will be normal when the index moves below 18. Support is visible around first at 16200, if breach then 15500. As we have mentioned yesterday, “We are in an environment of fear. In such an environment we should step aside and not indulge ourselves in any kind of trading:

BANK NIFTY:

BANK NIFTY opened at 35901.70 with a big gap up of 806 points. The index recorded its intraday low at 35768.20 within the first five minute of trading and then continued moving higher. A sharp rally brought prices to its intraday high at 36684.65 and then faces strong resistance there. The index built a narrow trading range there and finally closed at 36485.40 with a gain of 1390 points. PSU and PVT BANKS both indices have seen sharp intraday rally today and closed higher by 4.69% and 3.75% respectively. Within the index, in terms of points, ICICI BANK contributed the highest on the upside followed by HDFC BANK.

The trend is still on the downside and it will be down as far as prices are trading below the immediate resistance level around 36800. Support is visible around 34000. We should avoid trading the index and wait markets to stabilize first.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
COFORGE 4501 BUY The stock is on the verge of giving the breakout on the intraday as well as the daily chart. The stock can be bought  with a stop loss of 4450 and for the target of 4600.
DMART 4190 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 4200 with a stop loss of 4140 and target  of 4300.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
TITAN 2500CE BUY 69.50 CMP 55 90 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
HINDUNILVR.Mar 31 2175.1 0.16 2459.22 10372500 INDIAMART.Mar 31 4317.75 -9.58 955.2 319725
EICHERMOT.Mar 31 2624.2 0.27 2275 2959250 NAM-INDIA.Mar 31 301.5 -2.44 3414 2811200
IOC.Mar 31 110.5 0.32 159.11 34846500 PFC.Mar 31 108.9 -2.24 481.71 41403600
COLPAL.Mar 31 1399.8 0.35 354.81 1771700 HINDPETRO.Mar 31 268.35 -1.4 155.59 10179000
BPCL.Mar 31 333.95 0.39 411.42 22820400 AMBUJACEM.Mar 31 303.9 -0.8 2133.1 19126500
                                                                        Short Covering                                                                       Long Unwinding
MIDCPNIFTY.Mar 29 6949 3.72 -10 1350

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Marico Limited 494.85 2.36 1460932 0 71.81 Nifty 50 16658.4 2.53 83433
Hindustan Unilever Ltd 2170.7 -0.03 2193728 0 71.53 Nifty Bank 36430.75 3.41 83433
Dabur India Ltd. 544.85 2.09 1284779 0 69.75 Nifty it 33476.95 2.85 83433
Icici Lombard General In 1272.3 2.53 402028 0 69.17 Nifty Pharma 12899.85 3.2 83436
Hdfc Ltd. 2401.35 2.49 2731176 0 68.99 Nifty Auto 10895.3 2.69 83436
Infosys Limited 1694.6 0.98 9737281 0 68.79 India Vix 26.74 -16.39 83433
Hcl Technologies Ltd. 1129.7 2.84 3213276 0 67.08 Nifty Metal 5618.7 5.74 83436
City Union Bank Ltd. 124.85 1.67 2756667 0 65.4 Nifty Fmcg 35292.55 1.6 83436
Indus Towers Limited 214.6 4.17 20941909 0 65.35 Nifty Media 1997.1 4.69 83436
Max Financial Services l 817.8 0.99 608971 0 65.32 Nifty Financial Services 17028.9 3.01 83436

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: Infrastructure Output (YoY) (Jan)on 28th February, 2022

INR: GDP Quarterly (YoY) (Q3) on 28th February, 2022

•USD:  ISM Manufacturing PMI (Feb) on 1st March, 2022

•USD:  API Weekly Crude Oil Stock on 2nd March, 2022

NEWS UPDATES

  • Indian Oil Corp (IOC) is planning three new plants in the Northeast to increase its LPG bottling capacity by nearly 53 per cent to eight crore cylinders annually by 2030 to meet the growing demand in the region. IOC Executive Director (Indian Oil-AOD) G Ramesh said the proposed new LPG bottling plants will come up in Mizoram, Meghalaya and Arunachal Pradesh at a total investment of Rs 325-350 crore in a combination of wholly-owned and public-private-partnership (PPP) models.
  • Hero MotoCorp expects the two-wheeler segment to make a strong comeback next financial year with Omicron wave subsiding and a broader economic recovery in sight, according to a senior company official. The company, which reported sales of 12.92 lakh units in the December quarter, also expects the various announcements made in the Union Budget this year to trigger a cycle not only of employment and income but also capex in the private sector.
  • Central Bank of India and Punjab & Sind Bank will get the lion’s share of the Rs 15,000 crore earmarked for capital infusion in state-owned banks for the current fiscal. This will help these public sector banks (PSBs) meet regulatory requirements. The capital infusion of Rs 15,000 crore would go mostly to banks which had got money through non-interest-bearing bonds in the previous year as the RBI had raised some concerns on the fair valuation of these instruments, sources said.
  • OPEC+ revised down its forecast for an oil market surplus this year by about 200,000 barrels per day (bpd) to 1.1 million bpd, according to a base scenario in a technical committee report seen by Reuters on Sunday.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
AAPLUSTRAD General 28-Feb-22 INDSUCR Quarterly Results 28-Feb-22
AJRINFRA Quarterly Results 28-Feb-22 KAILASH General 28-Feb-22
ASHNI General 28-Feb-22 LESHAIND General 28-Feb-22
COLINZ General 28-Feb-22 MANYAVAR Quarterly Results 28-Feb-22
EIDPARRY Interim Dividend 28-Feb-22 OBCL General 28-Feb-22
GETALONG General 28-Feb-22 PFC General 28-Feb-22
GNRL General 28-Feb-22 VIPULORG Bonus issue;Employees Stock Option Plan 28-Feb-22
HUHTAMAKI Audited Results;Final Dividend 28-Feb-22 WORL Bonus issue 28-Feb-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
EASEMYTRIP 28-Feb-22 Bonus issue 1:1 NOUVEAU 07-Mar-22 Stock  Split From Rs.10/- to Rs.1/-
GLITTEKG 28-Feb-22 E.G.M. DEEP 08-Mar-22 Bonus issue 3:4
DATAINFRA 02-Mar-22 Income Distribution (InvIT) VIPIND 08-Mar-22 Interim Dividend
FACORALL 02-Mar-22 E.G.M. VEDL 09-Mar-22 Interim Dividend
PRISMX 02-Mar-22 Right Issue of Equity Shares VISHAL 10-Mar-22 Bonus issue 2:1
TANAA 02-Mar-22 Interim Dividend – Rs. – 0.50 DICIND 14-Mar-22 Final Dividend – Rs. – 3.00
ARSHIYA 03-Mar-22 Spin Off DICIND 14-Mar-22 Special Dividend – Rs. – 2.00
CONTAINER 03-Mar-22 Stock  Split From Rs.10/- to Rs.5/- BCG 15-Mar-22 Bonus issue 2:3
PGFOILQ 03-Mar-22 E.G.M. KMSUGAR 16-Mar-22 E.G.M.
JAYSHREETEA 07-Mar-22 E.G.M. RELTD 16-Mar-22 E.G.M.

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