NIFTY:
NIFTY opened at 17177.60 with a gap up of 91points.Initially,the index consolidated in a tight range and then started moving on the upside. Prices have recorded its intraday high at 17250.25 and then started drifting downwards. The index broke early morning lows and recorded its intraday low at 17161.15. The index again rallied in the last 30 minutes of trading and reached almost today’s high. The index finally closed at 17233.25 near its intraday high with a gain of 147 points or 0.86% up. OIL & GAS and AUTO sectors have outshone today and ended with a gain of more than 1%.BANK and FINANCIAL have underperformed today and closed with a gain of nearly half percent.
This resistance has broken today on the upside and prices have closed well above 17200 levels. This suggests that the bias is now turning on the upside which was sideways before. However, we should be a little cautious while taking fresh trades. Tomorrow, we should look for a buying opportunity above the high recorded in the first 30 minutes of trading. But if the index started moving downwards then we should be looking for a shorting opportunity on a breakdown below 17150. Keep a stop of 110 points and a target of 240 points.
BANK NIFTY:
BANK NIFTY opened at 35308.30 with a gap up of 209 points. The index recorded its intraday high at 335352.40 with in the first 10minutes of trading and then started drifting downwards. The decline brought prices to its intraday low at 35037.90.Prices spent the rest of the day trading within these two levels and finally closed at 35178.50 with a gain of 79 points. PSU BANKS have performed well today and ended with a gain of 1.04%. On the other hand, PVT BANKS have also closed higher but with a gain of 0.40%. Within the index, in terms of points, HDFC BANK contributed the highest while AU BANK contributed the lowest.
The index is inching towards the resistance levels. A breakout may give us a buying opportunity while holding of this resistance may give us a shorting opportunity. Tomorrow we should look for trade on the same basis.
TECHNICAL PICKS
| COMPANY NAME | CMP | B/S | RATIONALE+ |
| CUMMINSIND | 939 | 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 940 with a stop loss of 930 and for the target of 960. |
| ASIANPAINT | 3368 | 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 3370 with a stop loss of 3340 and target of 3440. |
DERIVATIVE PICKS
| Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| POLYCAB | 2400CE | BUY | 22 | CMP | 11 | 45 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| ICICIBANK.Dec 30 | 737.9 | 0.03 | 3.91 | 48408250 | PVR.Dec 30 | 1278.75 | -4.17 | 1.56 | 2145297 | |
| LTTS.Dec 30 | 5490 | 0.07 | 7.45 | 415200 | TRENT.Dec 30 | 1033.75 | -1.93 | 4.63 | 2131500 | |
| MARICO.Dec 30 | 502.35 | 0.09 | 19.88 | 7177000 | AUBANK.Dec 30 | 990.15 | -1.62 | 4.52 | 2880000 | |
| MUTHOOTFIN.Dec 30 | 1489.15 | 0.11 | 0.2 | 2632125 | CHOLAFIN.Dec 30 | 524.05 | -0.78 | 4.51 | 6575000 | |
| KOTAKBANK.Dec 30 | 1775.3 | 0.15 | 5.57 | 11474400 | IGL.Dec 30 | 481.05 | -0.7 | 2.46 | 7331500 | |
| Short Covering | Long Unwinding | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| BEL.Dec 30 | 207.3 | 0 | -2.24 | 17210200 | FSL.Dec 30 | 180.5 | -2.38 | -13.92 | 4823000 | |
| CHAMBLFERT.Dec 30 | 388 | 0.04 | -9.65 | 1741500 | ABFRL.Dec 30 | 271.3 | -1.27 | -7.73 | 4188600 | |
| SAIL.Dec 30 | 108.75 | 0.09 | -0.4 | 73601250 | INDIAMART.Dec 30 | 6440.45 | -1.05 | -6.41 | 137925 | |
| BATAINDIA.Dec 30 | 1827.65 | 0.16 | -10.78 | 760100 | GRANULES.Dec 30 | 338.45 | -0.92 | -7.49 | 10381900 | |
| ASHOKLEY.Dec 30 | 123.3 | 0.16 | -5.01 | 24376500 | NATIONALUM.Dec 30 | 100.1 | -0.89 | -7.66 | 48858000 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| City Union Bank Ltd. | 135.1 | 2.35 | 3504063 | 0 | 64.64 | Nifty 50 | 17233.25 | 0.86 | 81996 | |
| Hindustan Unilever Ltd | 2309.1 | 0.33 | 783710 | 0 | 62.59 | Nifty Bank | 35183.8 | 0.36 | 81999 | |
| Colgate Palmolive (india | 1464.2 | 0.55 | 357678 | 0 | 62.53 | India Vix | 15.21 | -11.17 | 81996 | |
| Indraprastha Gas Limited | 478.95 | -1.02 | 2704779 | 0 | 62.44 | Nifty Media | 2221.45 | 0.17 | 82002 | |
| Larsen & Toubro Limited | 1899.5 | 1.78 | 1916098 | 0 | 61.25 | Nifty Fmcg | 37162.7 | 0.76 | 81999 | |
| Gujarat State Petronet l | 295.3 | 1.2 | 858091 | 0 | 61.1 | Nifty Realty | 483.4 | 0.79 | 81999 | |
| Siemens Ltd | 2405.8 | 2.24 | 1333741 | 0 | 60.92 | Nifty it | 38357.8 | 0.97 | 81999 | |
| Infosys Limited | 1888 | 1.17 | 3340933 | 0 | 59.39 | Nifty Metal | 5538.7 | 0.9 | 82002 | |
| Icici Lombard General In | 1389.3 | 3.17 | 792097 | 0 | 58.78 | Nifty Pharma | 13836.15 | 0.92 | 81999 | |
| Mphasis Limited | 3329.85 | 3.08 | 989627 | 0 | 58.52 | Nifty Auto | 10783.85 | 1.34 | 82002 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: Infrastructure Output (YoY) (Nov) on 31st December, 2021
INR: Deposit and Bank Loan Growth Rate on 31st December, 2021 |
•USD: Crude Oil Inventories on 29th December, 2021
•USD: Pending Home Sales (MoM) (Nov) on 29th December, 2021 |
NEWS UPDATES
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Sun Pharmaceutical Industries on Tuesday said it is planning to set up a new manufacturing facility in Andhra Pradesh. The Mumbai-based drug maker’s founder Dilip Shanghvi and his team met Chief Minister of Andhra Pradesh YS Jagan Mohan Reddy to discuss the progress of the pharmaceutical sector and the setting up of an end-to-end manufacturing facility in the state, according to a statement.
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ITC Ltd has commissioned its first offsite solar plant at Dindigul in Tamil Nadu. Built for Rs 76 crore, the plant will help reduce carbon dioxide emissions by the group’s businesses. The 14.9 megawatt (MW) plant spread over 59 acres will generate over twenty-two million units of renewable energy annually for ITC’s hotels, food manufacturing plants, paper manufacturing, and printing and packaging factories in Tamil Nadu.
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The Centre on Tuesday banned direct selling companies from promoting pyramid and money circulation schemes as it notified new rules for the direct selling industry. The entities have to ensure compliance with the rules within 90 days. The direct selling companies will also be liable for the grievances arising out of the sale of goods or services by its direct sellers. Tupperware, Amway and Oriflame are among the key players in the direct selling industry.
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India’s leading carrier, IndiGo, on Tuesday announced a special five-day year-end sale across 150-plus domestic flights on 6E network. The sale, effective from Dec 27, 2021, to Dec 31, 2021, will offer customers all-inclusive fares on domestic flights starting at Rs 1,122.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint.
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| BLUECLOUDS | Issue Of Warrants;General | 29-Dec-21 | LACTOSE | General | 30-Dec-21 |
| INDOSOLAR | Audited Results;Quarterly Results | 29-Dec-21 | MDRNSTL | Quarterly Results | 30-Dec-21 |
| INDSILHYD | Dividend on Preference Shares | 29-Dec-21 | PETPLST | Quarterly Results | 30-Dec-21 |
| KCLINFRA | Voluntary Delisting of Shares | 29-Dec-21 | PRISMMEDI | General | 30-Dec-21 |
| NGLFINE | General | 29-Dec-21 | ROYALCU | Audited Results;Scheme of Arrangement | 30-Dec-21 |
| ODYCORP | General | 29-Dec-21 | VENUSREM | General | 30-Dec-21 |
| PANORAMA | General | 29-Dec-21 | CENLUB | General | 31-Dec-21 |
| PBAINFRA | General | 29-Dec-21 | CGPOWER | General | 31-Dec-21 |
| UDAYJEW | General | 29-Dec-21 | CONTPTR | General | 31-Dec-21 |
| XTGLOBAL | General;Preferential Issue of shares | 29-Dec-21 | KAARYAFSL | General | 31-Dec-21 |
| AGOL | General | 30-Dec-21 | KALPACOMME | General | 31-Dec-21 |
| GYTRIPA | General | 30-Dec-21 | PATELSAI | General | 31-Dec-21 |
| JAYATMA | Amalgamation | 30-Dec-21 | TROMBOEXT | General | 31-Dec-21 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| NINSYS | 29-Dec-21 | E.G.M. | SAHYADRI | 30-Dec-21 | Interim Dividend – Rs. – 3.0000 |
| ANDHRSUGAR | 30-Dec-21 | Stock Split From Rs.10/- to Rs.2/- | SEACOAST | 30-Dec-21 | Stock Split From Rs.10/- to Rs.1/- |
| GAIL | 30-Dec-21 | Interim Dividend – Rs. – 4.0000 | TAPARIA | 30-Dec-21 | Interim Dividend – Rs. – 70.0000 |
| MOIL | 30-Dec-21 | Buy Back of Shares | SDBL | 31-Dec-21 | Right Issue of Equity Shares |
| PQIF | 30-Dec-21 | Stock Split From Rs.10/- to Rs.2/- | VISAGAR | 31-Dec-21 | E.G.M. |
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