Outlook

NIFTY:

NIFTY opened at 17208.30 with a gap up of 98 points. The index continued its bullish momentum and rallied further more than 150 to Record its intraday high at 17373.50. Prices then started a process of consolidation in a tight narrow range that eventually broke on the downside. A sharp decline came and prices wiped out all the gains. The index drifted further on the downside and recorded its intraday low at 17077.10.Prices have finally closed at 17101.95 near its intraday low with a loss of 8.20 points or 0.05% down. IT and PHARMA outperformed today and closed higher by more than 1%. BANK,AUTO, and FINANCIALS have led the bears today and closed lower by more than half percent.

The last two weeks were down that erases the gains came in three weeks of a rally. Moreover, a large trading range is now visible on the weekly chart. Support for this range comes at 16800 while resistance around 18300. On a daily time frame, the index is holding the support at 17000 from the past few trading days. We should avoid trading the index at least till the Budget 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 38246.60 with a gap up of 152 points. The index first consolidated in a tight narrow range t ill the afternoon and recorded its intraday high at 38421.70.The range broke on the downside and prices have seen a sharp intraday decline towards the end of today’s trading session. Prices have recorded its intraday low at 37581.50 and finally closed at 37687.50 with a loss of 407 points. Within the index, in terms of points, INDUSIND BANK contributed the highest while ICICI BANK contributed the lowest.

Last three weeks were very choppy. It is possible that we may see a direction move after the Budget. The volatility is still very high. As of now we do not have an adequate trading setup. We will get a trading opportunity soon when the volatility cools down. Till then avoid trading the index.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
BHARTIARTL 715 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 717 with a stop loss of 710 and for the target of 730.
VOLTAS 1157 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 1152 with a stop loss of 1170 and target  of 1130.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
BPCL   380 PE BUY 15 CMP 10 25 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
BAJAJ-AUTO.Feb 24 3500.1 0.01 679.37 2342000 ABB.Feb 24 2265 -5.63 56000
ADANIENT.Feb 24 1686.25 0.02 4247.1 20996500 CHAMBLFERT.Feb 24 430.75 -5.15 3300000
CUB.Feb 24 143.25 0.07 6116.67 12682000 TVSMOTOR.Feb 24 599.25 -4.84 8612800
HAVELLS.Feb 24 1146.1 0.08 2514.79 4419000 VOLTAS.Feb 24 1146.5 -3.35 3894000
JKCEMENT.Feb 24 3231.25 0.16 554.93 348425 HEROMOTOCO.Feb 24 2624.25 -3.27 3088500
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
ONGC.Feb 24 168.6 2.21 -5.85 42103600

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Petronet Lng Limited 214.55 1.2 2585681 0 82.27 Nifty 50 17101.95 -0.05 82056
Crompton Greaves Consume 414.85 0.7 1670053 0 82 Nifty Bank 37689.4 -0.77 82059
Honeywell Auto India Ltd 41901.3 -0.9 2260 0 73.09 Nifty it 33851.95 1.13 82059
Hindustan Unilever Ltd 2283.55 -0.51 1967721 0 71.17 Nifty Metal 5466.05 0.37 82059
Pidilite Industries Ltd 2475.8 0.61 440807 0 70.52 Nifty Media 2204.45 0.87 82059
Max Financial Services l 913.4 2.14 639411 0 69.86 India Vix 20.7 -1.71 82059
Hdfc Ltd. 2516.5 0.53 4885166 0 69.81 Nifty Fmcg 36188.3 0.62 82059
Infosys Limited 1686.2 0.45 10998502 0 68.76 Nifty Pharma 12983.05 1.05 82062
Tata Consultancy Serv Lt 3690.05 1.12 3143862 0 67.99 Nifty Auto 11493.4 -0.59 82059
Power Grid Corporation o 210.2 -2.16 14199037 0 66.86 Nifty Financial Services 17673.55 -0.5 82065
Hdfc Bank Ltd. 1463.25 -0.79 12462604 0 63.24

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR:  Federal Fiscal Deficit (Dec) on 31st January, 2022

INR:  Infrastructure Output (YoY) (Dec) on 31st January, 2022

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

NEWS UPDATES

  • Adani Total Gas Ltd won city gas rights in 14 out of the 52 geographical areas (GAs) for which Petroleum and Natural Gas Regulatory Board (PNGRB) declared results on Friday. Hyderabad-based Megha Engineering and Infrastructure Ltd (MEIL) won 13 GAs, while state-owned Indian Oil Corporation (IOC) was adjudged winner in 8 GAs. As many as 65 GAs were offered for bidding in the 11th city gas distribution (CGD) licensing round. Of this, bids were received for 61 GAs but results for only 52 GAs were announced on Friday.
  • Happiest Minds Technologies Ltd on Friday reported a 16.1 per cent jump in consolidated net profit to Rs 48.92 crore for the December 2021 quarter. The company had posted a net profit of Rs 42.15 crore in the year-ago period. Its revenue during October-December 2021 grew 47.2 per cent to Rs 283.94 crore as compared with Rs 192.84 crore in the year-ago period, a regulatory filing said.
  • Oberoi Realty Ltd reported a 63 per cent increase in its consolidated net profit at Rs 467.53 crore for the quarter ended December. Its net profit stood at Rs 286.65 crore in the year-ago period. Total income rose to Rs 846.19 crore during October-December period of this fiscal year from Rs 837.57 crore in the corresponding period of the previous year.
  • Larsen & Toubro Ltd.’s third-quarter revenue rose as orders picked up with an improvement in construction activities. Revenue of India’s largest engineering-to-construction company increased 11.1% year-on-year to Rs 39,562.9 crore in the three months ended December, according to an exchange filing. That compares with the Rs 39,732.25-crore consensus estimate of analysts tracked by Bloomberg. Net profit fell 16.7% to Rs 2,055 crore, compared with the estimated Rs 2,392.74 crore.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
AARTIDRUGS Audited Results;Interim Dividend 31-Jan-22 KPITTECH Interim Dividend;Quarterly Results 31-Jan-22
ADFFOODS Quarterly Results 31-Jan-22 KRL Quarterly Results 31-Jan-22
AJANTPHARM Quarterly Results 31-Jan-22 KRSNAA Quarterly Results 31-Jan-22
ANDHRAPAP Quarterly Results 31-Jan-22 LKPSEC Quarterly Results 31-Jan-22
CYBERMEDIA Quarterly Results 31-Jan-22 MERCURYLAB General;Quarterly Results 31-Jan-22
DAAWAT Interim Dividend;Quarterly Results 31-Jan-22 NAVINFLUOR Quarterly Results 31-Jan-22
DLF Quarterly Results 31-Jan-22 NAVNETEDUL Quarterly Results 31-Jan-22
DWARKESH Quarterly Results 31-Jan-22 ORIENTCEM Interim Dividend;Quarterly Results 31-Jan-22
DYNAMIC Quarterly Results 31-Jan-22 POLYMED General;Quarterly Results 31-Jan-22
EDELWEISS Quarterly Results 31-Jan-22 RACLGEAR Quarterly Results 31-Jan-22
EMAMIPAP Quarterly Results 31-Jan-22 SCI Quarterly Results 31-Jan-22
EXIDEIND Interim Dividend;Quarterly Results 31-Jan-22 SMCGLOBAL Quarterly Results 31-Jan-22
GICHSGFIN Quarterly Results 31-Jan-22 SUBEX Quarterly Results 31-Jan-22
GPTINFRA Interim Dividend;Quarterly Results 31-Jan-22 SUNPHARMA Quarterly Results 31-Jan-22
HESTERBIO Quarterly Results 31-Jan-22 SUVEN Quarterly Results 31-Jan-22
HINDPETRO Quarterly Results 31-Jan-22 TATAMOTORS Quarterly Results 31-Jan-22
INFIBEAM Bonus issue;Dividend;Pref. Issue;Results 31-Jan-22 TATAMTRDVR Quarterly Results 31-Jan-22
IOC Interim Dividend;Quarterly Results 31-Jan-22 UCOBANK Quarterly Results 31-Jan-22
JINDALSAW Quarterly Results 31-Jan-22 UPL Quarterly Results 31-Jan-22
KEC Quarterly Results 31-Jan-22 VINATIORGA Quarterly Results 31-Jan-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
CCL 31-Jan-22 Interim Dividend – Rs. – 3.00 SAREGAMA 31-Jan-22 Interim Dividend – Rs. – 30.00
MASTEK 31-Jan-22 Interim Dividend – Rs. – 7.00 VISAKAIND 31-Jan-22 Interim Dividend – Rs. – 7.00

 

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