outlook

NIFTY:

NIFTY opened at 17062 with a big gap down of 215 points. The index continued its bearish momentum and fell further to nearly 200 to record its intraday low at 16866.75. Prices have found intraday support there and started moving on the upside. The index broke its early morning highs in the afternoon and kept on moving higher. The index recorded its intraday high at 17182.50 and failed to fill the gap down. A minor correction came in the last hour of trading and the index finally closed at 17110.15 with a loss of 167.80 points or 0.97% down. BANK,AUTO, and MEDIA outperformed today and closed higher. IT,REALTY, PHARMA, and FMCG have led the bears today and closed lower by more than 1%.

The short-term trend is sideways and it will be sideways as far as prices are trading between the 17000 – 17300 range. A close above 17300 will suggest us a buying opportunity while a close below 17000 will suggest us going short in the markets. 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 37058.20 with a big gap down of 656 points. The index first consolidated in a tight narrow range and recorded its intraday low at 37012.25.Prices then broke out and saw a sharp intraday rally to record its intraday high at 38147.65.The index finally closed at 38094.90 with again of 380 points. PSU BANKS have continued its outperformance and closed higher by 5.07%.PVT BANKS have also moved up today and ended with a marginal gain of 0.51%.Withinthe index, in terms of points, AXIS BANK contributed the highest while ICICI BANKS contributed the lowest.

As of now we do not have an adequate trading setup. We will get a trading opportunity soon when the volatility cools down. TiIl then avoid trading the index.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
POLYCAB 2489 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 2490 with a stop loss of 2470 and for the target of 2540.
LUPIN 888 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 886 with a stop loss of 896 and target  of 870.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
CANBK   245 CE BUY 10 CMP 7 16 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
SUNPHARMA.Jan 27 810.25 0.09 1.89 5838700 SHREECEM.Jan 27 23964.2 -2.25 0.43 52900
HAL.Jan 27 1423.5 0.09 1.3 1625925 POWERGRID.Jan 27 214.8 -1.9 0.56 10495344
ONGC.Jan 27 164.9 0.09 3.48 45568600 NBCC.Jan 27 45.7 -1.08 0.91 14616000
ITC.Jan 27 215.1 0.16 4.26 52921600 SAIL.Jan 27 96.4 -1.23 1.26 59774000
M&M.Jan 27 859.8 0.52 20.9 4134900 RELIANCE.Jan 27 2345.05 -1.22 1.3 10679250
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
BEL.Jan 27 204.4 0.05 -14.42 9541800 INDIAMART.Jan 27 4540 -9.14 -23.37 69600
NATIONALUM.Jan 27 107.3 0.19 -8.26 57103000 COFORGE.Jan 27 4411.8 -7.8 -7.45 212500
MANAPPURAM.Jan 27 153.5 0.23 -17.17 4473000 DALBHARAT.Jan 27 1712.8 -7.05 -30.38 90500
CUB.Jan 27 143.5 0.24 -4.9 2441200 SRF.Jan 27 2349.65 -5.14 -37.39 558750
BANKNIFTY.Jan 27 37984.55 0.7 -50.63 474025 LTTS.Jan 27 4358.55 -4.93 -3.91 285400

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Whirlpool 1791.7 0.64 238277 0 81.08 Nifty 50 17110.15 -0.97 80949
Max Financial Services l 894.3 1.07 865685 0 78.22 Nifty Bank 37982.1 0.73 80952
Dabur India Ltd. 529.05 -2.53 2183776 0 68.19 Nifty it 33475.05 -3.55 80952
Infosys Limited 1678.6 -2.53 11231734 0 68.01 Nifty Auto 11561.6 0.34 80955
Hdfc Ltd. 2503.35 -1.08 6600059 0 66.78 Nifty Metal 5445.9 -0.72 80955
Hindustan Unilever Ltd 2295.35 -1.37 2620474 0 66.47 Nifty Media 2185.5 0.59 80955
Tata Consultancy Serv Lt 3649.25 -3.2 5718297 0 62.9 India Vix 21.07 -1.38 80952
Mah & Mah Ltd. 858.05 0.42 2927566 0 62.39 Nifty Fmcg 35966.8 -1.14 80949
Asian Paints Limited 3116.95 -0.96 1834684 0 62.22 Nifty Realty 462.1 -1.81 80955
Piind 2373.5 -2.24 516832 0 61.22 Nifty Pharma 12847.9 -1.87 80955
Ultratech Cement Limited 7100.7 0.03 418032 0 60.98 Nifty Financial Services 17763.15 -0.15 80955

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR:  FX Reserves, USD on 28th January, 2022

INR:  Bank Loan and Deposit growth  on 28th January, 2022

•USD:  ISM Manufacturing PMI (Jan) on 1st February 2022

NEWS UPDATES

  • Bharti Airtel on Thursday announced that its subsidiary Airtel Africa has been included in the FTSE 100 Index, which includes the top 100 companies on the London Stock exchange, with effect from January 31, 2022. Airtel Africa was listed on the London Stock Exchange in June 2019. This is a significant milestone for Airtel Africa, which becomes part of the FTSE 100 in just two and a half years of listing on the London Stock Exchange joining the most valuable companies.
  • Larsen & Toubro Infotech, a global technology consulting and digital solutions company is partnering with IIT Madras, one of India’s leading research institutes, for collaborative research in the field of 5G. Through this collaboration, LTI and IIT Madras aim to innovate in the emerging 5G space and enable 5G frameworks validation, low-frequency RF deployments and use case testing with 5G testbed.
  • Wockhardt on Thursday reported a consolidated net profit of Rs 1.77 crore for the third quarter ended December 31, 2021. The company had posted a net profit of Rs 32.4 crore in the same period of 2020-21 fiscal. Income from continuing operations rose to Rs 853.89 crore in the third quarter as against Rs 764.02 crore in the October-December period of the previous fiscal, Wockhardt said in a regulatory filing.
  • Tata Sons Pvt formally took charge of debt-laden Air India Ltd., ending years of failed attempts to sell the money-losing airline that has been kept afloat with billions of dollars of taxpayer money.
  • Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
3IINFOTECH Quarterly Results 28-Jan-22 FLUOROCHEM Quarterly Results 28-Jan-22
ATUL Quarterly Results 28-Jan-22 GSFC Quarterly Results 28-Jan-22
AUBANK Quarterly Results 28-Jan-22 HAPPSTMNDS Quarterly Results;General 28-Jan-22
AUROLAB General;Quarterly Results 28-Jan-22 KOTAKBANK Quarterly Results 28-Jan-22
BAJAJHCARE Quarterly Results 28-Jan-22 KTKBANK Quarterly Results 28-Jan-22
BEL Interim Dividend;Quarterly Results 28-Jan-22 LT Quarterly Results 28-Jan-22
BHARTIARTL Preferential Issue of shares 28-Jan-22 MARICO Interim Dividend;Quarterly Results 28-Jan-22
BLUEDART Interim Dividend;Quarterly Results 28-Jan-22 MFSL Quarterly Results 28-Jan-22
BRITANNIA Quarterly Results 28-Jan-22 MRPL Quarterly Results 28-Jan-22
CENTRALBK Quarterly Results 28-Jan-22 NAUKRI Quarterly Results 28-Jan-22
CENTURYPLY General;Quarterly Results 28-Jan-22 NIITLTD Interim Dividend;Quarterly Results 28-Jan-22
CHAMBLFERT Interim Dividend;Quarterly Results 28-Jan-22 OBEROIRLTY Quarterly Results 28-Jan-22
CROMPTON Quarterly Results 28-Jan-22 POWERMECH Quarterly Results 28-Jan-22
DBCORP Quarterly Results 28-Jan-22 SUZLON Quarterly Results 28-Jan-22
DEEPAKFERT Quarterly Results 28-Jan-22 TATACOFFEE Quarterly Results 28-Jan-22
DIXON Quarterly Results 28-Jan-22 TCIDEVELOP Quarterly Results 28-Jan-22
DRREDDY Quarterly Results 28-Jan-22 TCIEXP Quarterly Results;Interim Dividend 28-Jan-22
EMBASSY Quarterly Results 28-Jan-22 UBL Quarterly Results 28-Jan-22
EQUITASBNK Quarterly Results 28-Jan-22 UTIAMC Quarterly Results;General 28-Jan-22
ERIS Quarterly Results 28-Jan-22 VEDL Quarterly Results 28-Jan-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
RKFORGE 28-Jan-22 Interim Dividend – Rs. – 0.5000 MASTEK 31-Jan-22 Interim Dividend – Rs. – 7.0000
CCL 31-Jan-22 Interim Dividend – Rs. – 3.0000 SAREGAMA 31-Jan-22 Interim Dividend – Rs. – 30.0000

 

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