Outlook

NIFTY:

NIFTY opened at 17706.20 with a big gap up of 130 points. The index initially went down for the first 10 minutes of trading and recorded its intraday low at 17674.80. Prices then consolidated and then again went down. However, the index finds support there and bounced up. A sharp rally brought the index to its intraday high at 17794.60. In the afternoon, the index again consolidated for almost two hours but eventually closed at 17780 near its intraday highs with a gain of 203.15 points or  1.16% up. All the sectoral indices have closed with gains. BANKS have outperformed today and ended more than 2% higher followed by the FINANCIAL IT and FMCG that ended with again of more than 1%.

The Support is now visible around 17500 while psychological resistance is visible around 18000. It is possible that prices may hold 18000 level and formed a trading range around that level.

Fresh trading opportunities for carry forward traders will emerge after a consolidation. Our approach should be buying he dips and selling on rallies if finds resistance.

BANK NIFTY:

BANK NIFTY opened at 38841.55 with a big gap up of 273 points. The index recorded its intraday low at 38752.65 within the first five minute        of trading and then moved up. The rally continued for the whole day and prices have recorded its intraday high at 39386.60.The index finally closed at 39338.20 near its today’s high with a gain of 770 points. PVT and PSU BANKS both performed well today, saw a sharp intraday rally and closed with a gain of 2.33% & 3.41% respectively. Within the index, in terms of points, HDFC BANK contributed the highest followed by KOTAKBANK .

The short-term trend is up now as prices have broken above decisively above the previous swing high and made a pattern of higher highs. We have been expecting a consolidation due to the volatile movement in the recent days.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
IGL 407 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 408 with a stop loss of 401 and for the target of 420.
ADANIENT 1779 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 bought above 1782 with a stop loss of 1760 and target  of 1820.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
NAUKRI   5100CE BUY 203 CMP 170 280 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
EXIDEIND.Feb 24 173.6 0 1.16 24573600 JUBLFOOD.Feb 24 3304.05 -4.17 25.42 2515625
M&M.Feb 24 873.25 0.02 2.48 11347700 CHAMBLFERT.Feb 24 401.7 -4.04 9.34 3793500
WHIRLPOOL.Feb 24 1842.95 0.04 6.25 633000 CHOLAFIN.Feb 24 637.35 -2.9 19.81 7425000
TATASTEEL.Feb 24 1172.6 0.09 1.18 44681525 BALKRISIND.Feb 24 2324.5 -2.82 2.83 1066600
BAJAJ-AUTO.Feb 24 3543 0.11 0.38 2091750 BALRAMCHIN.Feb 24 414.15 -2.53 10.72 6974400
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
MARUTI.Feb 24 8571 0.06 -4.02 2510100 OBEROIRLTY.Feb 24 958.4 -1.31 -5.75 2625700
SRF.Feb 24 2454.95 0.14 -2.1 2985750 ULTRACEMCO.Feb 24 7472.2 -0.71 -1.69 1931000
UPL.Feb 24 789.75 0.34 -0.18 28523300 RAIN.Feb 24 227.85 -0.39 -0.46 6552500
TVSMOTOR.Feb 24 628 0.47 -2.9 6988800 INDIACEM.Feb 24 231.1 -0.26 -0.98 12922400
HINDCOPPER.Feb 24 128 0.55 -0.88 15050000

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Crompton Greaves Consume 412.55 -0.54 3177292 0 76.91 Nifty 50 17780 1.16 81279
Petronet Lng Limited 213.6 -0.65 2019330 0 70.99 Nifty Bank 39330.5 2.14 81279
Pidilite Industries Ltd 2522.9 2.02 855656 0 69.23 Nifty it 35788.75 1.18 81279
Gujarat State Petronet l 314.2 5.19 695368 0 65.64 India Vix 18.65 -6.66 81279
Abbott India Limited 16201.3 0.38 22394 0 65.22 Nifty Fmcg 37581.5 1.07 81279
Hcl Technologies Ltd. 1170.95 3.37 6982539 0 63.53 Nifty Media 2286.95 1.77 81279
Max Financial Services l 925.15 -0.4 620013 0 60.73 Nifty Pharma 13643.65 1.23 81279
Abb Limited 2296.7 0.42 324514 0 59.75 Nifty Auto 11632.4 0.14 81279
Coromandel International 794.05 0.74 227248 0 59.23 Nifty Metal 5779.7 1.05 81279
Rec Limited 142.05 1.79 3928860 0 58.57 Nifty Realty 495.5 1.4 81279
Hindustan Unilever Ltd 2327.9 0.97 1246111 0 58.51 Nifty Financial Services 18408.8 1.93 81279

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR:  Nikkei Services PMI (Jan) on 3rd February, 2022 •USD: Initial Jobless Claims on 3rd February 2022

•USD: ISM Non-Manufacturing PMI (Jan)  on 3rd February 2022

NEWS UPDATES

  • NMDC on Tuesday said its iron ore production surged over 28 per cent to 32.88 million tonnes (MT) in April-January 2021-22. The company’s iron ore output was 25.66 MT in the same period last fiscal, NMDC said in a regulatory filing. In January 2022, the company said its iron ore production rose to 4.56 MT from 3.86 MT a year ago.

  • Dabur India on Wednesday reported a 2.19 per cent increase in consolidated net profit to Rs 504.35 crore for the third quarter ended on December 2021. The company had posted a consolidated net profit of Rs 493.50 crore in the October-December quarter a year ago, Dabur India said in a BSE filing. Its revenue from operations rose by 7.8 per cent to Rs 2,941.75 crore during the quarter under review as against Rs 2,728.84 crore in the corresponding quarter of the previous fiscal.

  • Maruti Suzuki India (MSI) on Wednesday said it has witnessed a marginal increase in production last month. In a regulatory filing, the auto major reported a total production of 1,61,383 units in last month as compared to 1,60,975 units in January 2021. “The shortage of electronic components had a minor impact on the production of vehicles during the month,” it noted.

  • Jubilant FoodWorks Ltd (JFL), which operates quick service restaurant (QSR) chains like Domino’s Pizza and Dunkin’ Donuts, on Wednesday reported a 7.48 per cent increase in its consolidated net profit to Rs 133.19 crore for the third quarter ended December 2021. The company had posted a net profit of Rs 123.91 crore in the corresponding quarter last year.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
3MINDIA General;Quarterly Results 03-Feb-22 KENNAMET Quarterly Results 03-Feb-22
AAVAS Quarterly Results 03-Feb-22 KIRLOSIND Quarterly Results 03-Feb-22
ABCAPITAL Quarterly Results 03-Feb-22 KOPRAN Quarterly Results 03-Feb-22
ADANIPOWER Quarterly Results 03-Feb-22 LUPIN General;Quarterly Results 03-Feb-22
ADANITRANS Quarterly Results 03-Feb-22 LUXIND Quarterly Results 03-Feb-22
AMBIKCO Quarterly Results 03-Feb-22 MARALOVER Quarterly Results 03-Feb-22
BARBEQUE Quarterly Results 03-Feb-22 NAHARPOLY Quarterly Results 03-Feb-22
BRIGADE Quarterly Results 03-Feb-22 NAHARSPING Quarterly Results 03-Feb-22
CADILAHC Quarterly Results 03-Feb-22 NITINSPIN Interim Dividend;Quarterly Results 03-Feb-22
COROMANDEL Quarterly Results 03-Feb-22 PFIZER Quarterly Results 03-Feb-22
DCAL Quarterly Results 03-Feb-22 PIIND Interim Dividend;Quarterly Results 03-Feb-22
EIHOTEL Quarterly Results 03-Feb-22 PRINCEPIPE Quarterly Results 03-Feb-22
EMAMILTD Interim Dividend;Quarterly Results 03-Feb-22 RADICO Quarterly Results 03-Feb-22
ESTER Quarterly Results 03-Feb-22 ROLEXRINGS Quarterly Results 03-Feb-22
GAIL General;Quarterly Results 03-Feb-22 SAHYADRI General;Quarterly Results 03-Feb-22
GMM Interim Dividend;Quarterly Results 03-Feb-22 SAKSOFT Quarterly Results 03-Feb-22
GODREJPROP Quarterly Results 03-Feb-22 SIS Quarterly Results 03-Feb-22
GRINDWELL Quarterly Results 03-Feb-22 SUMICHEM Quarterly Results 03-Feb-22
HAWKINCOOK Quarterly Results 03-Feb-22 SUNDRMFAST Quarterly Results 03-Feb-22
HGINFRA General;Quarterly Results 03-Feb-22 THOMASCOOK General;Quarterly Results 03-Feb-22
IGPL Quarterly Results 03-Feb-22 TITAN Quarterly Results 03-Feb-22
ITC Interim Dividend;Quarterly Results 03-Feb-22 TORNTPOWER Interim Dividend;Quarterly Results 03-Feb-22
JKTYRE Quarterly Results 03-Feb-22 VBL Audited Results 03-Feb-22
JUBLINDS Quarterly Results 03-Feb-22 WELSPUNIND Quarterly Results 03-Feb-22
KALYANKJIL Quarterly Results 03-Feb-22 WESTLIFE Quarterly Results 03-Feb-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ACCELYA 03-Feb-22 Interim Dividend – Rs. – 17.0000 NTPC 03-Feb-22 Interim Dividend – Rs. – 4.0000
BIGBLOC 03-Feb-22 Interim Dividend – Rs. – 0.1000 PARSHVA 03-Feb-22 Bonus issue 205:100
DWL 03-Feb-22 E.G.M. SANTETX 03-Feb-22 E.G.M.
GREENPANEL 03-Feb-22 Interim Dividend – Rs. – 1.5000 SINDHUTRAD 03-Feb-22 Stock  Split From Rs.10/- to Rs.1/-
GRMOVER 03-Feb-22 Interim Dividend – Rs. – 1.0000 SRF 03-Feb-22 Interim Dividend – Rs. – 4.7500
IEX 03-Feb-22 Interim Dividend – Rs. – 1.0000 SWORDEDGE 03-Feb-22 Bonus issue 1:1
IIFL 03-Feb-22 Interim Dividend – Rs. – 3.5000 SYMPHONY 03-Feb-22 Interim Dividend – Rs. – 1.0000
IIFLSEC 03-Feb-22 Interim Dividend – Rs. – 3.0000 TCI 03-Feb-22 Interim Dividend – Rs. – 2.0000
INTEGRA 03-Feb-22 Stock  Split From Rs.3/- to Rs.1/- TCIEXP 03-Feb-22 Interim Dividend – Rs. – 3.0000
INTELLADV 03-Feb-22 E.G.M. THANGAMAYL 03-Feb-22 Interim Dividend – Rs. – 5.0000
KIRLFER 03-Feb-22 Interim Dividend – Rs. – 2.5000 UPSURGE 03-Feb-22 Interim Dividend – Rs. – 0.5000
LAOPALA 03-Feb-22 Interim Dividend – Rs. – 1.5000 VAIBHAVGBL 03-Feb-22 Interim Dividend – Rs. – 1.5000
MOTILALOFS 03-Feb-22 Interim Dividend – Rs. – 7.0000 ZENSARTECH 03-Feb-22 Interim Dividend – Rs. – 1.5000

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