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 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.
|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.|
|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|
|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|
|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
|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
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
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|DEEP||Issue Of Warrants; Preferential Issue||06-Dec-21||TRISHAKT||General||06-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|
|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|
|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|
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