Morning Outlook 30th December, 2021

NIFTY:

NIFTY opened at 17220.10 without much of a gap. The index first recorded its intraday low at 17285.95 in its early trades and then started moving on the upside. A rally of more than 60 points brought the index to its intraday high at 17285.95 and then the rally fizzled out there. Prices went down and came close to its opening tick. The index consolidated in most of today ‘s trading session and finally closed at 17213.60 near its opening tick wit h a loss of 19.65 points or 0.11% down. The PHARMA and AUTO sectors have outperformed today and closed with a gain of 1.71% & 0.42%. The METAL sector has underperformed today and ended wit h a loss of 1.05%.

It was again a volatile day today where prices have seen multiple sharp moves in both directions. Moreover, the index continued trading narrowly for the second consecutive day and ended with marginal losses. Two days of narrow trading suggests a sharp move is ahead. Since we are long, so, we are hoping that the move should come on the upside. But if prices go otherwise then we should also be considering closing long positions and ta king short positions. The long-term trend is down while the long-term momentum has bounced up from the weak zone and is now heading towards the strength zone.

BANK NIFTY:

BANK NIFTY opened at 35168.85 without much of a gap. The index first rallied and recorded its intraday high at 35378.30. Prices then start€ drifting downwards, saw a slow and steady down move for the whole day. The intraday low was recorded at 34890.80 and the index finally closed at 34941.75 wit h a loss of 237 points. PSU BANKS have underperformed today, led the bears and closed wit ha loss of nearly 1%.PVT BANKS have also closed lower but wit h a loss of just 0.11%.

Within the index, in terms of points, INDUSIND BANK contributed the highest while SBIN contributed the lowest.

Last two days were very narrow. This indicates that a sharp move is ahead. That move can come in either direction. Hence if index started rising tomorrow then we should be looking fora buying opportunity on a breakout above 35500.

TECHNICAL PICKS

COMPANY NAME	CMP	B/S	RATIONALE+
CADILAHC	469	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 470 with a stop loss of 463 and for the target of 480.
APOLLOHOSP	4976	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 4980 with a stop loss of 4930 and target  of 5080.

DERIVATIVE PICKS

Stock Name	Strike Price	Buy/Sell	CMP	Initiation	Stop Loss	Target	Remarks
BANKBARODA	80CE	BUY	4	CMP	2	8	OI Increase

Long Buildup						Short Buildup
Stocks	Price	Price%	OI %	OI		Stocks	Price	Price%	OI %	OI
HDFC.Dec 30	2567.05	0.03	30.48	7628100		JKCEMENT.Dec 30	3190	-5.71	38.15	175525
BERGEPAINT.Dec 30	754.6	0.04	18.08	2305600		PVR.Dec 30	1257.6	-2.04	2.49	1523808
ULTRACEMCO.Dec 30	7408.25	0.04	21.94	800300		JINDALSTEL.Dec 30	375.25	-2.04	1.87	10340000
HINDUNILVR.Dec 30	2310.7	0.04	7.62	5667300		ICICIPRULI.Dec 30	553.05	-1.84	9.38	2903250
HDFCLIFE.Dec 30	644	0.12	13.48	9853800		SBIN.Dec 30	453.95	-1.73	10.03	50185500
Short Covering						Long Unwinding
Stocks	Price	Price%	OI %	OI		Stocks	Price	Price%	OI %	OI
OBEROIRLTY.Dec 30	863.5	0.07	-0.56	1482600		DALBHARAT.Dec 30	1819.95	-2.71	-12.1	221500
AARTIIND.Dec 30	989.7	0.08	-27.52	667250		SAIL.Dec 30	106.4	-2.3	-10.85	49898750
PERSISTENT.Dec 30	4657.05	0.08	-5.39	310500		ADANIENT.Dec 30	1714.45	-2.26	-2.2	8010000
CUMMINSIND.Dec 30	940.2	0.12	-1.45	816600		IRCTC.Dec 30	846.85	-2.14	-12.98	3986125
BAJFINANCE.Dec 30	6919	0.19	-4.91	1325500		CANFINHOME.Dec 30	553.9	-1.99	-3.65	1725750

TOP DELIVERY PERCENTAGE

Stocks	Price	%Chg	Total Qty	Delivery	Del %			% Change
							Sectors	Price	Change %	Quantity
ICICI Bank Ltd.	735.7	-0.01	7143073	0	74.45		Nifty 50	17213.6	-0.11	77244
Gujarat State Petronet l	294.3	-0.34	184634	0	73.44		Nifty Bank	35045.4	-0.39	77244
Hdfc Ltd.	2563.55	-0.07	1474656	0	70.69		Nifty Metal	5480.55	-1.05	77244
Dr. Reddys Lab Ltd	4833.15	1.88	505604	0	68.5		Nifty Media	2199.8	-0.97	77244
ICICI Lombard General In	1380.2	-0.66	595610	0	67.98		Nifty it	38274.65	-0.22	77244
Acc Limited	2162.65	0.53	203826	0	67.86		India Vix	16.24	-1.46	77241
Indraprastha Gas Limited	479	0.01	1069554	0	67.42		Nifty Fmcg	37028.7	-0.36	77244
Hindustan Unilever Ltd	2306.85	-0.1	1410236	0	65.3		Nifty Energy	22745.35	-0.31	77244
Hdfc Life Insurance Comp	644.75	0.38	1505964	0	63.43		Nifty Realty	483.05	-0.07	77244
Tata Consultancy Serv Lt	3694.7	-0.32	1456923	0	63.03		Nifty Financial Services	17130	-0.28	77244

UPCOMING ECONOMIC DATA

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