Morning-Outlook-Feature-Image
Outlook-29-12-2021

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

  • 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.

  • 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.

  • 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.

  • 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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