NIFTY:
Nifty opened at 17104.40 with a gap up of 121 points, the index first rallied further, moved above 17200 and then fell very sharply to reach the opening tick, prices then rallied again more than 100 points and recorded its intraday high at 17213.05 and then fell again, prices then moved down more than 100 points to record its intraday low at 17064.25 , the index again rallied more than 100 points in the last hour of trading and finally closed at 17166.90 near its intraday high with a gain of 183.70 points or 1.08% up. All the sectoral indices closed in green except Pharma , the metal led the bull today and ended with gain of more than 2%.
As the short term trend is down , we should only consider shorting opportunity on an intraday basis, on the daily chart prices have recorded recent swing around 17350 and swing low around 16800, for buying we should wait for a breakout above 17350 or wait for price to consolidate, a dip towards 16800 is also a buying opportunity if price hold its support. To summarize we should avoid trading the index and wait for the clear sense of direction.
BANK NIFTY:
Bank Nifty opened at 35902.90 with a gap up of 302 points , the index rallied further but that rally fizzled out quickly and prices turned down to come close near the opening tick , intraday low was recorded at 35805 and prices again rallied , the index spends the afternoon moving sideways and moved up again in the last hour of trading , the index recorded its intraday high at 36445.35 and finally closed at 36384.80 with a gain of 784 points. Both Private and PSU Banks both have performed well today.
The short term trend is still on the downside and one day rally didn’t affect much of it , however we are expecting a process of consolidation soon and today rally confirmed our expectation. Volatility is still very high intraday trader should look at intraday opportunity to buy dips if found support and sell rallies if find resistance.
TECHNICAL PICKS
| COMPANY NAME | CMP | B/S | RATIONALE+ |
| BSE | 1651 | 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 1615 and for the target of 1700. |
| NAUKRI | 5948 | 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 5965 with a stop loss of 5880 and target of 6080. |
DERIVATIVE PICKS
| Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| ICICIBANK | 740CE | BUY | 18 | CMP | 10 | 40 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| RECLTD.Dec 30 | 134.3 | 0 | 0.42 | 46242000 | CIPLA.Dec 30 | 930.9 | -4.56 | 1.74 | 10851100 | |
| MGL.Dec 30 | 918.75 | 0.03 | 1.05 | 3528600 | DABUR.Dec 30 | 577.85 | -3.19 | 7.74 | 10752500 | |
| INDIGO.Dec 30 | 1908.95 | 0.06 | 1.3 | 3919500 | PFIZER.Dec 30 | 5053.95 | -2.86 | 7.79 | 204000 | |
| SHREECEM.Dec 30 | 26199.45 | 0.12 | 0.65 | 177825 | GSPL.Dec 30 | 305.5 | -2.61 | 6.29 | 1091400 | |
| BALKRISIND.Dec 30 | 2189.05 | 0.18 | 1.86 | 1722600 | MARICO.Dec 30 | 527.55 | -2.31 | 11.98 | 8179000 | |
| Short Covering | Long Unwinding | |||||||||
| ESCORTS.Dec 30 | 1858.7 | 0.35 | -0.64 | 5904800 | ALKEM.Dec 30 | 3450 | -4.29 | -1.93 | 519000 | |
| ICICIGI.Dec 30 | 1447.95 | 0.47 | -0.2 | 2768025 | METROPOLIS.Dec 30 | 3155 | -4.2 | -0.33 | 603200 | |
| ICICIPRULI.Dec 30 | 599.6 | 0.71 | -0.99 | 4582500 | GLENMARK.Dec 30 | 503.5 | -4.06 | -0.11 | 9403550 | |
| LICHSGFIN.Dec 30 | 377.15 | 1.28 | -1.21 | 12920000 | ABBOTINDIA.Dec 30 | 18897.3 | -1.35 | -1.71 | 27375 | |
| BANKNIFTY.Dec 30 | 36494.85 | 2 | -3.43 | 2525400 | INDIAMART.Dec 30 | 7375.45 | -1.21 | -0.18 | 165600 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Cipla Ltd | 928.15 | -4.44 | 3879683 | 0 | 31.05 | Nifty 50 | 17166.9 | 1.08 | 92283 | |
| Glenmark Pharma Ltd | 501.45 | -4.27 | 2075911 | 0 | 26.03 | Nifty Bank | 36364.9 | 1.88 | 92283 | |
| Alkem | 3440.9 | -4.25 | 191501 | 0 | 60.14 | Nifty it | 35429 | 1.1 | 92283 | |
| Metropolis Healthcare Ltd | 3156.45 | -4.14 | 444475 | 0 | 23.93 | India Vix | 19.45 | -8.14 | 92283 | |
| Pfizer Ltd. | 5023.5 | -3.33 | 53856 | 0 | 21.04 | Nifty Energy | 23110.8 | 1.26 | 92283 | |
| Dabur India Ltd. | 576.1 | -3.17 | 3306382 | 0 | 63.22 | Nifty Fmcg | 37457.85 | 0.19 | 92280 | |
| Gujarat State Petronet | 304.8 | -2.71 | 661497 | 0 | 28.4 | Nifty Mnc | 18727.1 | 1.01 | 92280 | |
| Divis Laboratories Limited | 4752.2 | -2.59 | 603122 | 0 | 52.48 | Nifty Pharma | 13442.1 | -1.62 | 92280 | |
| Marico Limited | 525.05 | -2.47 | 3003218 | 0 | 62.99 | Nifty Pse | 3852.35 | 0.85 | 92280 | |
| Oracle Fin Serv Soft Ltd | 4134.6 | -2.38 | 72456 | 0 | 50.82 | Nifty Services Sector | 24255 | 1.07 | 92280 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: Trade Balance (Nov) on 3rd December, 2021
INR: Nikkei Services PMI (Nov) on 3rd December, 2021 |
•USD: Initial Jobless Claims on 2nd December, 2021
•USD: Nonfarm Payrolls (Nov) on 3rd December, 2021 |
NEWS UPDATES
-
A possible tightening of monetary policy by the Federal Reserve may not prompt the Reserve Bank of India to follow suit as inflationary pressures are contained for now, a top government adviser said.
-
BSNL has given a timeline of September 2022 for rollout of its 4G services across India, and estimated an incremental revenue of about Rs 900 crore in the first year from such rollout, Parliament was informed on Wednesday. Minister of State for Communications Devusinh Chauhan, in a written reply to the Lok Sabha, made it clear that there is no proposal under consideration for disinvestment of Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam Ltd (MTNL).
-
Tata Power Company on Wednesday said that its wholly owned subsidiary Tata Power Solar Systems has received Letter of Award (LoA) from Solar Energy Corporation of India (SECI). The contract involves building 100 MW EPC solar project along with 120 MWh utility scale battery energy storage system (BESS). The total contract value of the project is approximately Rs 945 crore. The project will be executed within 18 months.
-
Biocon said on Wednesday that it has been selected for the Dow Jones Sustainability Index (DJSI) in the Emerging Markets (EM) category for its Environmental, Social and Governance (ESG) practices. The pharma major made a formal submission for Corporate Sustainability Assessment for its listing on the DJSI for the first time this year and made it to the DJSI EM Index with a total sustainability score of 45 as against an industry average of 18, achieving a 93rd percentile position.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| ANMOL | General | 02-Dec-21 | NMDC | Interim Dividend | 03-Dec-21 |
| CGPOWER | General | 02-Dec-21 | SDC | Half Yearly Results | 03-Dec-21 |
| JUBLINGREA | General | 02-Dec-21 | SHARP | Quarterly Results | 03-Dec-21 |
| MADHAVIPL | General | 02-Dec-21 | STDSFAC | General | 03-Dec-21 |
| NOVIS | A.G.M.;Audited Results | 02-Dec-21 | TARMAT | Preferential Issue of shares | 03-Dec-21 |
| PACL | Stock Split | 02-Dec-21 | VICEROY | General;A.G.M. | 03-Dec-21 |
| PATINTLOG | General;Rights Issue | 02-Dec-21 | YASHRAJC | General | 03-Dec-21 |
| TOYAMIND | General | 02-Dec-21 | ZSOUTGAS | General | 03-Dec-21 |
| XPROINDIA | General | 02-Dec-21 | CHEVIOT | Buy Back of Shares | 04-Dec-21 |
| GVKPIL | Quarterly Results | 03-Dec-21 | GSS | General | 04-Dec-21 |
| ISTRNETWK | General | 03-Dec-21 | SAYAJIHOTL | Scheme of Arrangement | 04-Dec-21 |
| JJEXPO | A.G.M.;Audited Results | 03-Dec-21 | SETCO | A.G.M.;Quarterly Results | 04-Dec-21 |
| JPTRLES | General | 03-Dec-21 | TIRUFIN | Employees Stock Option Plan;General | 04-Dec-21 |
| MRPL | General | 03-Dec-21 | EQUIPPP | A.G.M. | 05-Dec-21 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| APOLLOPIPES | 02-Dec-21 | Bonus issue 2:1 | COALINDIA | 06-Dec-21 | Interim Dividend – Rs. – 9.0000 |
| BAJAJST | 02-Dec-21 | Final Dividend – Rs. – 3.0000 | PANCHSHEEL | 06-Dec-21 | Bonus issue 1:1 |
| GRATEXI | 02-Dec-21 | E.G.M. | CHLOGIST | 07-Dec-21 | E.G.M. |
| NCLRESE | 02-Dec-21 | Bonus issue 1:1 | GPL | 08-Dec-21 | Amalgamation |
| NCLRESE | 02-Dec-21 | Stock Split From Rs.2/- to Rs.1/- | BNKCAP | 09-Dec-21 | Dividend – Rs. – 2.5000 |
| NOVAPUB | 02-Dec-21 | E.G.M. | DUGARHOU | 09-Dec-21 | E.G.M. |
| IEX | 03-Dec-21 | Bonus issue 2:1 | OAL | 09-Dec-21 | Interim Dividend – Rs. – 1.5000 |
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