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Outlook

NIFTY:

NIFTY opened at 17767.75 with a gap down of just 13 points. The index recorded its intraday high at 17781.15 with in the he first 5 minutes of trading and a few ticks above the opening price. Prices then started moving on the downside. Minor dips in between were quickly sold into and the index kept on sliding lower and recorded its intraday low at 17511.15. The index finally closed at 17560.20 near its intraday low with a loss of 219.80 points or 1.24% down. All the sectoral indices have closed with a loss today except the AUTO which ended with a gain of 0.44%. IT and REALTY led the bears today and ended  with a loss of 2.05% & 1.74% respectively.

Rresistance is now clearly visible around 17800 while short -term support is visible at 17500. Below this, the next support may emerge around 17300. Fresh trading opportunities for carry forward traders will emerge after a dip when it finds support. Tomorrow, if the index keeps moving lower then we should look to buy somewhere around 17350. Look to buy on a dip at or below 17350 with a stop at 17250 and a target at 17600.

BANK NIFTY:

BANK NIFTY opened at 39255.70 with a gap down of 83 points. Prices first moved up and fill the gap. However, soon the index went into a process of consolidation and recorded its intraday high at 39424.85. The index then moved down and recorded its intraday low at 38861.15. Prices have finally closed at 38880.60 with a loss of 458 points. PVT and PSU BANKS both performed almost same today, saw an intraday decline and closed with a loss of 0.95% & 0.50% respectively. Within the index in terms of points, BANDHAN BANK contributed the highest while HDFC BANK contributed the lowest.

We have been expecting a consolidation due to the volatile movement in the recent days. That has yet to happen but it will come sooner. Tomorrow, we should look to buy on a dip at or below 38200.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
TATAPOWER 252 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 253 with a stop loss of 248 and for the target of 260.
MCX 1779 SELL The  immediate trend of the script is bearish. There is a negative cross over of moving averages  as well as of the indicators therefore  it can be sold below 1465 with a stop loss of 1480 and target  of 1430.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
GODREJPROP   1650 PE BUY 70 CMP 50 110 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
CHOLAFIN.Feb 24 644 1.04 -0.41 6977500 GODREJPROP.Feb 24 1665 -6.82 26.27 4821700
HINDCOPPER.Feb 24 129.1 0.74 -0.8 14925300 M&MFIN.Feb 24 159.7 -5.73 19.98 41432000
GNFC.Feb 24 467 0.66 -3.02 2667600 MCX.Feb 24 1460.75 -5.62 44.61 2522100
GRANULES.Feb 24 323.65 0.57 -0.61 12592200 LTTS.Feb 24 4584.95 -4.38 6.66 771400
VOLTAS.Feb 24 1217.2 0.57 -4.68 3596500 MPHASIS.Feb 24 3005 -4.35 5.75 1516900
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
RAIN.Feb 24 228 0.11 -0.5 6492500 METROPOLIS.Feb 24 2546 -3.64 -0.26 623400
COLPAL.Feb 24 1472 0.52 -2.05 2578450 NAVINFLUOR.Feb 24 4117.95 -2.43 -0.59 494325
GRANULES.Feb 24 323.65 0.57 -0.61 12592200 IDFCFIRSTB.Feb 24 48.4 -2.32 -0.58 1.51E+08
VOLTAS.Feb 24 1217.2 0.57 -4.68 3596500 IDEA.Feb 24 11.25 -2.17 -0.94 6.64E+08
GNFC.Feb 24 467 0.66 -3.02 2667600 RAMCOCEM.Feb 24 873 -1.78 -1.46 2124150

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Crompton Greaves Consume 411.65 -0.22 1657387 0 72.52 Nifty 50 17560.2 -1.24 82785
Max Financial Services l 907.05 -1.96 497782 0 72.12 Nifty Bank 39010 -0.81 82785
Icici Lombard General In 1384.4 0.03 316535 0 71.33 Nifty it 35056.8 -2.05 82785
Piramal Enterprises 2500.35 -0.68 900757 0 68.12 Nifty Realty 486.9 -1.74 82785
Hdfc Bank Ltd. 1515.35 -1.04 5282381 0 67.23 Nifty Media 2273.55 -0.59 82788
Coromandel International 820.55 3.34 803416 0 66.65 Nifty Metal 5761.6 -0.31 82788
Petronet Lng Limited 213.05 -0.26 880973 0 65.89 Nifty Fmcg 37467.2 -0.3 82785
Infosys Limited 1738.55 -2.72 3832922 0 65.51 Nifty Auto 11683.4 0.44 82782
Hindustan Unilever Ltd 2298.15 -1.28 1448039 0 65.41 Nifty Pharma 13617.6 -0.19 82785
Alkem 3537.95 -0.35 28211 0 64.85 India Vix 19.16 2.73 82785
Hcl Technologies Ltd. 1156.75 -1.21 4169794 0 64.05 Nifty Financial Services 18153.3 -1.39 82788

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: RBI  Interest Rate Decision on 9th February, 2022 •USD: Nonfarm Payrolls (Jan) on 4th February 2022

•USD: Unemployment Rate (Jan)  on 4th February 2022

NEWS UPDATES

  • Titan saw its December quarter (Q3) net profit zoom 91 per cent to Rs 1,004 crore compared to the year-ago period, even as revenue from operations rose 37 per cent to Rs 9,903 crore riding on strong consumer demand in the same period. With the jewellery division doing well, and other divisions also witnessing growth over pre-pandemic levels, the total income for the quarter was Rs 9,570 crore, including bullion sale of Rs 54 crore, a growth of 31 per cent compared to total income of Rs 7,324 crore in Q3 of FY21 that included bullion sale of Rs 340 crore.

  • DLF Ltd has revised upwards its sales revenue potential by 17 per cent to Rs 47,000 crore from 35 million square feet of planned new launches of housing and commercial projects in the medium term. In an analyst presentation, DLF mentioned that it has planned the launch of 35 million square feet project in the medium term.

  • Kalyan Jewellers India on Thursday reported a 16.48 per cent rise in its consolidated profit after tax (PAT) at Rs 134.52 crore for the quarter ended December 2021. The jewellery retailer’s PAT stood at Rs 115.48 crore during the corresponding quarter of 2020-21, Kalyan Jewellers said in an exchange filing. Revenue from operations grew by 16.99 per cent to Rs 3,435.39 crore, compared to Rs 2,936.25 crore in the same period of the previous fiscal.

  • Granules India on Thursday said it has received approval from the US health regulator to market Bupropion Hydrochloride extended-release tablets, an antidepressant medication, in the American market.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ABFRL Quarterly Results 04-Feb-22 INDIGO Quarterly Results 04-Feb-22
ALKEM Interim Dividend;Quarterly Results 04-Feb-22 IOLCP Interim Dividend;Quarterly Results 04-Feb-22
ANUHPHR Quarterly Results 04-Feb-22 JAMNAAUTO Quarterly Results 04-Feb-22
ASIANTILES General 04-Feb-22 JUBLPHARMA Quarterly Results 04-Feb-22
ASTRAL Quarterly Results 04-Feb-22 KIOCL Quarterly Results 04-Feb-22
AUTOAXLES Quarterly Results 04-Feb-22 LAXMIMACH Quarterly Results 04-Feb-22
AWHCL Quarterly Results 04-Feb-22 MAGADHSUGAR Quarterly Results 04-Feb-22
BANKINDIA Quarterly Results 04-Feb-22 MANGALAM General;Quarterly Results 04-Feb-22
BAYERCROP Quarterly Results 04-Feb-22 MINDACORP Interim Dividend;Quarterly Results 04-Feb-22
BIRLACORPN Quarterly Results 04-Feb-22 MONTECARLO Quarterly Results 04-Feb-22
CREDITACC Quarterly Results 04-Feb-22 NOCIL Quarterly Results 04-Feb-22
DALMIASUG Interim Dividend;Quarterly Results 04-Feb-22 PAYTM Quarterly Results 04-Feb-22
DEEPAKSP Quarterly Results 04-Feb-22 RECLTD Quarterly Results 04-Feb-22
DEVYANI Quarterly Results 04-Feb-22 SHREECEM Interim Dividend;Quarterly Results 04-Feb-22
DIAMONDYD Quarterly Results 04-Feb-22 SIEMENS Quarterly Results 04-Feb-22
DIGISPICE Quarterly Results 04-Feb-22 SINTEX Quarterly Results 04-Feb-22
DIVISLAB Quarterly Results 04-Feb-22 TATASTEEL General;Quarterly Results 04-Feb-22
EVEREADY Quarterly Results 04-Feb-22 THERMAX Quarterly Results 04-Feb-22
FSL Quarterly Results 04-Feb-22 UGARSUGAR Amalgamation;General;Results 04-Feb-22
GATI Quarterly Results 04-Feb-22 VADILALIND Quarterly Results 04-Feb-22
GNFC Quarterly Results 04-Feb-22 VADILENT Quarterly Results 04-Feb-22
GODREJAGRO Quarterly Results 04-Feb-22 VIJAYA Quarterly Results 04-Feb-22
GULPOLY General;Quarterly Results 04-Feb-22 VISAKAIND Audited Results;Quarterly Results 04-Feb-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
CHAMBLFERT 04-Feb-22 Interim Dividend – Rs. – 4.5000 GRAVITA 08-Feb-22 Interim Dividend – Rs. – 3.0000
EMBASSY 04-Feb-22 Income Distribution RITES HIL 08-Feb-22 Interim Dividend – Rs. – 20.0000
MARICO 04-Feb-22 Interim Dividend – Rs. – 6.2500 KIRLPNU 08-Feb-22 Interim Dividend – Rs. – 1.6000
SIYSIL 04-Feb-22 Interim Dividend – Rs. – 3.0000 MKEXIM 08-Feb-22 Bonus issue 2:1
COFORGE 07-Feb-22 Interim Dividend – Rs. – 13.0000 NIITLTD 08-Feb-22 Interim Dividend – Rs. – 3.0000
CONTROLPR 07-Feb-22 Interim Dividend – Rs. – 4.0000 PGHH 08-Feb-22 Interim Dividend – Rs. – 95.0000
EXIDEIND 07-Feb-22 Interim Dividend – Rs. – 2.0000 SCHAEFFLER 08-Feb-22 Stock  Split From Rs.10/- to Rs.2/-
INFIBEAM 07-Feb-22 Interim Dividend – Rs. – 0.0500 AARTIDRUGS 09-Feb-22 Interim Dividend – Rs. – 1.0000
KEI 07-Feb-22 Interim Dividend – Rs. – 2.5000 BEL 09-Feb-22 Interim Dividend – Rs. – 1.5000
KKCL 07-Feb-22 Interim Dividend – Rs. – 4.0000 GILLETTE 09-Feb-22 Interim Dividend – Rs. – 33.0000
NIRMITEE 07-Feb-22 E.G.M. GPTINFRA 09-Feb-22 Interim Dividend – Rs. – 1.5000
ROUTE 07-Feb-22 Interim Dividend – Rs. – 3.0000 IOC 09-Feb-22 Interim Dividend – Rs. – 4.0000
BLUEDART 08-Feb-22 Interim Dividend – Rs. – 25.0000 ORIENTCEM 09-Feb-22 Interim Dividend – Rs. – 0.7500

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