Morning-Outlook-Feature-Image
Outlook-02-12-2021

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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