Morning-Outlook-Feature-Image
Outlook

NIFTY:

NIF1Y opened at 17201.45 with a minor gap down of just 12 points. The index recorded its intraday low at 17146.35 in its early trade a rallied higher. Prices have recorded its intraday high at 17364.05 and then started moving downwards. The index found support around its opening tick and the rallied again towards the day high. The rally fizzled out quickly and the index turned down again. Prices have finally closed at 17203.30 near its opening tick with a loss of just 9.65 points or 0.06% down. The IT sector outperformed today and closed with a gain of 1.The METAL sector continued its underperformance and ended with a loss of 1.17%. FMCG and FINANCIAL ended without much of a change.

In the last three trading days, the index is locked inside a range of just 140 points which is very narrow. This is a sign of contraction and after contraction comes expansion. That means we may see a sharp move soon. Since we are long, 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 taking short positions.

 

BANK NIFTY:

BANK NIFTY opened at 34977.65 without much of a gap. The index recorded its intraday low at 34751.25 in its early trades and then rallied higher. A slow and steady up move continued for the whole day. Mild intraday dip quickly fizzled out and prices rose to record its intraday high at 35179.05. The index finally closed at 35131.10 wit ha gain of 190 points. PSU BANKS have underperformed today, led the bears and closed wit ha loss of nearly 0.75%.PVT BANKS have closed without much of a change. With the index, in terms of points, HDFC BANK contributed the highest while RBL BANK contributed the lowest.

Last few days were very narrow and choppy, and prices continued trading in the same manner on a monthly expiry day. This indicates a process of contraction. That should lead to a phase of expansion. We may see a sharp move here. That move can come in either direction. Hence if index started rising tomorrow then we should be looking for a buying opportunity on a breakout above 35500.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
MINDTREE 4733 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 4740 with a stop loss of 4690 and for the target of 4860.
TITAN 2437 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 2445 with a stop loss of 2410 and target  of 2490.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
TATASTEEL  1100 PE BUY 43 CMP 30 65 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
TORNTPHARM.Dec 30 3194.8 0.13 13.33 221000 IGL.Dec 30 468 -2.44 14.88 3249125
DIVISLAB.Dec 30 4626.15 0.19 8.27 539100 MCX.Dec 30 1567.95 -2.06 4.82 570850
COLPAL.Dec 30 1459 0.2 0.33 750050 INDUSTOWER.Dec 30 240.5 -1.96 0.29 5852000
TATACONSUM.Dec 30 727.5 0.2 40.36 3018600 TATACHEM.Dec 30 883.25 -1.95 1.19 1441000
NAUKRI.Dec 30 5470 0.23 3.32 319375 BAJAJ-AUTO.Dec 30 3201.25 -1.83 19.63 851750
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
POLYCAB.Dec 30 2403 0.03 -8.31 122400 PERSISTENT.Dec 30 4877.2 4.88 -16.6 182400
RAMCOCEM.Dec 30 986.25 0.05 -7.71 386750 COFORGE.Dec 30 5895.15 4.37 -16.78 182000
POWERGRID.Dec 30 204.45 0.05 -41.88 3338458 IPCALAB.Dec 30 2187.55 3.44 -1.75 1210950
BANKNIFTY.Dec 30 35062.75 0.08 -52.37 584400 JKCEMENT.Dec 30 3306 3.27 -35.41 45325
SUNTV.Dec 30 491 0.14 -11.45 1345500 AUBANK.Dec 30 1040 2.88 -27.7 556000

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Tata Consultancy Serv Lt 3733.75 1.06 1966432 0 74.91 Nifty 50 17203.95 -0.06 77613
Atul Ltd. 8985.4 0.98 16402 0 74.15 Nifty Bank 35063.6 0.05 77613
Infosys Limited 1892.85 0.39 4584302 0 73.51 Nifty Energy 22485.4 -1.14 77613
Hdfc Bank Ltd. 1461.5 0.53 3607913 0 70.41 Nifty Realty 478.35 -0.97 77616
Hdfc Ltd. 2563.7 0.01 1557389 0 69.7 Nifty Metal 5416.65 -1.17 77613
Whirlpool 1764.25 0.92 278910 0 64.44 Nifty Pharma 14135.5 0.44 77613
Mphasis Limited 3345.6 1.07 552958 0 63.99 India Vix 16.57 2 77610
Sbi Life Insurance Compa 1195.2 0.81 1335111 0 63.49 Nifty Auto 10755.65 -0.68 77613
Hindustan Petroleum Corp 288.65 -1.28 1319568 0 63.26 Nifty Media 2197.25 -0.12 77613
City Union Bank Ltd. 135.95 -1.41 2642746 0 62.87 Nifty Fmcg 37075.65 0.13 77613

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: ISM Manufacturing PMI (Dec) on 3rd January 2022

NEWS UPDATES

  • NTPC arm NTPC Renewable Energy Ltd (NREL) will float a global engineering procurement and construction tender to set up a 3GW renewable energy project with a battery storage system worth around Rs 15,000 crore by February 2022, according to a senior official. “The NREL has decided to float a global tender or RFP (request for proposal) for a 3GW renewable energy project (like solar and wind) with battery energy storage system in the next two months (by February 2022).

  • Granules India Ltd on Thursday said it has received approval from the US health regulator for its generic Amphetamine mixed salts indicated for the treatment of Attention Deficit Hyperactivity Disorder (ADHD) and narcolepsy. The approval granted by the US Food and Drug Administration (USFDA) to Granules Pharmaceuticals, Inc (GPI), a wholly-owned arm, is for the abbreviated new drug application (ANDA) of amphetamine mixed salts of strengths 5mg, 7.5mg, 10mg, 12.5mg, 15mg, 20mg and 30mg immediate release tablets.

  • ITC Ltd on Thursday said it has collaborated with Invest India, a non-profit venture by the central government for national investment promotion and facilitation, to crowdsource innovative ideas for single-use plastic substitution and automate waste segregation.

  • Cars24, a leading e-commerce platform for pre-owned vehicles has collaborated with Bajaj Finance Ltd., to lift the veil from used car financing and facilitate a quick, frictionless and streamlined shopping experience. This move follows a Series G funding round announced in December 2021 where the firm raised $400 million at a $3.3-billion valuation. While the consumer demand for pre-owned vehicles is skyrocketing, the consumer financing penetration in the Indian used cars industry stands at only about 15 per cent.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
CENLUB General 31-Dec-21 SHIVAMAUTO General 03-Jan-22
CGPOWER General 31-Dec-21 SMLT Interim Dividend 03-Jan-22
CONTPTR General 31-Dec-21 ALFAVIO General 04-Jan-22
KAARYAFSL General 31-Dec-21 BHAGCHEM Increase in Authorised Capital;General 04-Jan-22
KALPACOMME General 31-Dec-21 GENNEX General 04-Jan-22
PATELSAI General 31-Dec-21 KANELIND Quarterly Results 04-Jan-22
TROMBOEXT General 31-Dec-21 MCCHRLS-B General 04-Jan-22
BALGOPAL General 01-Jan-22 MUKTA Stock  Split 04-Jan-22
PARNAXLAB Issue Of Warrants 01-Jan-22 MYSTICELE Stock  Split 04-Jan-22
ASHSI General 03-Jan-22 NOUVEAU Stock  Split 04-Jan-22
KGPETRO General 03-Jan-22 STERPOW General 04-Jan-22
KRETTOSYS Bonus issue;In,.in Auth. Cap.;Stock  Split 03-Jan-22 DHRUV General 05-Jan-22
MEL General 03-Jan-22 KACL General 05-Jan-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
SDBL 31-Dec-21 Right Issue of Equity Shares SDBL 31-Dec-21 Right Issue of Equity Shares
VISAGAR 31-Dec-21 E.G.M. VISAGAR 31-Dec-21 E.G.M.
QUANTDIA 04-Jan-22 E.G.M. QUANTDIA 04-Jan-22 E.G.M.
JOHNPHARMA 05-Jan-22 Stock  Split From Rs.10/- to Rs.1/- JOHNPHARMA 05-Jan-22 Stock  Split From Rs.10/- to Rs.1/-
MAZDOCK 06-Jan-22 Interim Dividend – Rs. – 7.1000 MAZDOCK 06-Jan-22 Interim Dividend – Rs. – 7.1000

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