Morning-Outlook-Feature-Image
Outlook-06-12-2021

NIFTY:

NIFTY opened at 17424.90 with a gap up of just 23 points. The index moved up further for the first five minutes of trading and recorded its intraday high at 17489.80, prices found resistance there and started drifting downwards. The index quickly erases all the morning gains and then falls further to record its intraday low at 17180.80.The index moved down almost 300 points intraday as the minor rallies did not hold long enough. Prices have finally closed at 17196.70 near its intraday low with a loss of 204.95 points or 1.18% down. All the sectoral indices have closed with a loss today except the MEDIA that ended with a gain of 1.73%. FINANCIAL and FMCG have led the bears today and ended with a loss of more than 1%.

Yesterday, we mentioned that “If the market has to resume the current downtrend, it would need to find resistance here and then head downward.“ We should now look for a shorting opportunity the trade is the same, look for a shorting opportunity below 17100. Keep a stop of 110 points and a target of 220 points from your entry price.

BANK NIFTY:

BANK NIFTY opened at 36497.30 with a gap down of just 38 points. The index first rallied, recorded its intraday high at 36844 and then started drifting downwards. Minor rallies in between did not hold long and prices kept on falling for the whole day. The index recorded its intraday low at 36062.85 and finally closed at 36213.60 with a loss of 350 points.

PVT and PSU BANKS both have seen an intraday decline today and closed with a loss of 0.76% and 0.27%. Within the index, in terms of points, INDUSIND BANK contributed the highest while KOTAK BANK contributed the lowest. Two days of rally fizzled out quickly as the index find strong resistance around 36800.

The short-term trend is sideways which was down before. We have also mentioned a possible trading range within 35300 – 36800 zones. This range remained intact. We should now wait for a decisive breakout. Till then avoid trading the index.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
TATASTEEL 1118 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 1080 and for the target of 1160.
ZEEL 349 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 352 with a stop loss of 342 and target  of 356.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
KOTAKBANK 1900 PE BUY 53 CMP 40 80 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
PNB.Dec 30 38.7 0 0.1 2.73E+08 INDIAMART.Dec 30 7182.95 -2.88 10.48 182700
GAIL.Dec 30 132.45 0.04 0.06 43066000 APOLLOHOSP.Dec 30 5459.95 -2.86 5.02 2086000
CHOLAFIN.Dec 30 568.6 0.07 0.69 8898750 RELIANCE.Dec 30 2425.05 -2.51 4.23 35291750
POLYCAB.Dec 30 2369.55 0.07 0.61 496500 LALPATHLAB.Dec 30 3720.55 -2.35 8.41 522250
OBEROIRLTY.Dec 30 855 0.08 2.54 3300500 ASIANPAINT.Dec 30 3123.15 -2.28 5.5 4238850
                                                                        Short Covering                                                                       Long Unwinding
                     Stocks             price            Price%                OI%              OI                         Stocks            Price            Price%                OI%               OI
TATAMOTORS.Dec 30 481.3 0.11 -0.38 86597250 GUJGASLTD.Dec 30 664.7 -3.71 -3.63 2423750
DABUR.Dec 30 582.2 0.15 -0.35 11092500 POWERGRID.Dec 30 204.75 -2.36 -1.82 21550653
CONCOR.Dec 30 645.75 0.27 -0.83 5395476 PERSISTENT.Dec 30 4330.05 -1.89 -3.7 241950
ESCORTS.Dec 30 1864.1 0.34 -0.21 6136900 AARTIIND.Dec 30 962.75 -1.63 -0.51 2170900
ULTRACEMCO.Dec 30 7363.05 0.37 -6.28 1723200 BAJAJFINSV.Dec 30 17580.05 -1.51 -2.78 629175

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Hindustan Unilever Ltd 2343.65 -1.66 1890178 0 74.28 Nifty 50 17196.7 -1.18 82821
Icici Lombard General In 1449.4 -0.98 1149769 0 73.41 India Vix 18.45 2.02 82821
City Union Bank Ltd. 144.2 -0.86 1098495 0 72.85 Nifty Media 2266.15 1.73 82821
Hdfc Asset Management Co 2579.35 0.89 473810 0 70.59 Nifty Metal 5392.4 -0.23 82821
Tata Consultancy Serv Lt 3640.45 -0.07 2486263 0 70.03 Nifty Pharma 13443.85 -0.83 82818
Infosys Limited 1735.55 -0.73 6754012 0 69.79 Nifty Bank 36197.15 -0.85 82821
Colgate Palmolive (india 1450.05 0.67 466114 0 68.89 Nifty Fmcg 37498.1 -1.04 82818
Hdfc Bank Ltd. 1513.55 -0.8 4062347 0 68.46 Nifty it 35848.05 -0.86 82821
Crompton Greaves Consume 427.75 -1.37 1983280 0 67.63 Nifty Psu Bank 2633.65 -0.27 85413
Hdfc Life Insurance Comp 690.95 -2.03 1878712 0 67.28 Nifty Auto 10788.75 -0.78 85413

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: RBI Interest Rate Decision on 8th December, 2021 •USD: Trade Balance (Oct) on 7th  December, 2021

•USD: Crude Oil Inventories on 8th December, 2021

NEWS UPDATES

  • Vodafone Group has filed an application with the government to settle its ₹20,000-crore retrospective tax dispute. This is a significant step towards resolving its long-standing issue, as both parties had been at loggerheads in local and international courts.

  • The Central government has approved a plan to produce over five lakh AK-203 assault rifles at Korwa in Uttar Pradesh’s Amethi, in what official sources described as an endeavour to provide a big boost to self-reliance in defence manufacturing. Uttar Pradesh is on way to become a defence manufacturing hub of India, they said.

  • Tightening of norms may increase non-banking finance companies’ (NBFCs) headline non-performing advances (NPA) by around one third, India Ratings and Research (Ind-Ra) said. “However, the impact on provisioning could be modest, given NBFCs are using ‘IND-As’ and generally for higher rated NBFCs, provision policy is more conservative than ‘IRAC’ requirements.”

  • Eris Lifesciences on Friday said it has entered into a joint venture with MJ Biopharm to distribute human insulin, insulin analogues and GLP1 agonists.The Ahmedabad-based Eris will hold a 70% stake in the venture; the remaining 30% to be held by MJ Biopharm.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ANERI General 06-Dec-21 SCBL General 06-Dec-21
BRFL Quarterly Results 06-Dec-21 SRIMT General 06-Dec-21
DEEP Issue Of Warrants; Preferential Issue 06-Dec-21 TRISHAKT General 06-Dec-21
EVEXIA A.G.M.;General 06-Dec-21 VKAL General 06-Dec-21
INDOVATION General 06-Dec-21 ABIRAFN General 07-Dec-21
ISMTLTD Quarterly Results 06-Dec-21 BRAHMINFRA A.G.M. 07-Dec-21
NGIL General 06-Dec-21 CRPRISK A.G.M.;Audited Results;Half Yearly Results 07-Dec-21
NINSYS Increase in Authorised Capital 06-Dec-21 GBFL General 07-Dec-21
OMEAG General 06-Dec-21 HINDZINC Interim Dividend 07-Dec-21
RADHEDE Right Issue of Equity Shares;General 06-Dec-21 INDOUS General 07-Dec-21
RPIL A.G.M.;General;Scheme of Arrangement 06-Dec-21 MAWANASUG General 07-Dec-21
SATIN General 06-Dec-21 MDRNSTL A.G.M.;Audited Results;Quarterly Results 07-Dec-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
COALINDIA 06-Dec-21 Interim Dividend – Rs. – 9.0000 OAL 09-Dec-21 Interim Dividend – Rs. – 1.5000
PANCHSHEEL 06-Dec-21 Bonus issue 1:1 RIDHISYN 09-Dec-21 Right Issue of Equity Shares
CHLOGIST 07-Dec-21 E.G.M. SHIVAMAUTO 09-Dec-21 Right Issue of Equity Shares
GPL 08-Dec-21 Amalgamation TTL 09-Dec-21 Interim Dividend – Rs. – 1.0000
BNKCAP 09-Dec-21 Dividend – Rs. – 2.5000 WEIZMANIND 09-Dec-21 Buy Back of Shares
DUGARHOU 09-Dec-21 E.G.M. SEACOAST 10-Dec-21 E.G.M.

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