NIFTY:
NIFTY opened at 17820.10 with a gap up of just 15 points. 56 points. The index first moved down and recorded its intraday low at 17748.85 within the first 30 minutes of trading. The index then went into a process of consolidation. That consolidation eventually broke on the higher side. Prices have seen a sharp intraday rally then and recorded its intraday high at 17944.70. Prices again consolidated towards the end of today’s trading session and finally, the index closed at 17925.25 with a gain of 120 points or 0.67% up. BANK and FINANCIAL have led the bulls today and ended with a gain of more than 2%. IT underperformed today. Led the bears and closed with a loss of nearly 2%.
In the last four trading days, prices have rallied nearly 700 points, which is an almost 4% move. After such a sharp move, prices tend to move narrow, choppy, and sideways. If the index holds this resistance, then we may get to see a narrow trading range around 18000 levels. A breakout from that likely range will give us a trading opportunity. If the index finds resistance and moves down, then we will wait for prices to find support, and then we will buy. However, if the index crossed the 18000 hurdles, then we will buy on a retest of the 18000 level.
BANK NIFTY:
BANK NIFTY opened at 36943.55 wit h a ga pup of 87 points. The index recorded its intraday low at 36756.35 in initial trading and started moving on the upside. A minor consolidation after a rally broke on the upside, prices moved after sharply in the afternoon and recorded its intraday high at 37862.40. Prices then again consolidated and finally closed at 37644.90 wit h a gain of 788 points. PSU and PVT BANKS both have performed well today and closed wit h a gain of 1.59% and 2.12% respectively. Within the index, in terms of points, HDI BANK contributed the highest on the upside followed by ICICI BANK.
The index broken above 37000 resistances decisively. We now are willing to buy the index on a retest at 37000 level. Keep a stop of 200 points and a target of 600 points. Intraday traders should use dips to buy.
TECHNICAL PICKS
| COMPANY NAME | CMP | B/S | RATIONALE+ |
| OBEROIREALTY | 923 | 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 925 with a stop loss of 910 and for the target of 955. |
| EICHERMOTOR | 2778 | 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 2785 with a stop loss of 2750 and target of 2830. |
DERIVATIVE PICKS
| Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| TATASTEEL | 1180CE | BUY | 37 | CMP | 25 | 65 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| LALPATHLAB.Jan 27 | 3835.05 | 0.01 | 16.4 | 511125 | COFORGE.Jan 27 | 5836.3 | -3.86 | 10.42 | 733100 | |
| UPL.Jan 27 | 765.65 | 0.01 | 1.06 | 25431900 | PERSISTENT.Jan 27 | 4694 | -3.44 | 13.06 | 492000 | |
| AUROPHARMA.Jan 27 | 724.4 | 0.03 | 1.39 | 14767500 | LTI.Jan 27 | 7350.75 | -3.27 | 21.6 | 812250 | |
| NESTLEIND.Jan 27 | 20002.9 | 0.03 | 0.02 | 305825 | INDIGO.Jan 27 | 1983.3 | -3.02 | 5.84 | 2877750 | |
| NAUKRI.Jan 27 | 5625 | 0.11 | 3.39 | 1120875 | DIXON.Jan 27 | 5345 | -2.99 | 15.31 | 470625 | |
| Short Covering | Long Unwinding | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| MUTHOOTFIN.Jan 27 | 1540.15 | 0.1 | -0.27 | 3279750 | IRCTC.Jan 27 | 842.7 | -1.13 | -0.23 | 7883750 | |
| ITC.Jan 27 | 221.25 | 0.11 | -0.3 | 2.03E+08 | ABBOTINDIA.Jan 27 | 18900 | -1 | -0.7 | 32000 | |
| SUNPHARMA.Jan 27 | 842.45 | 0.25 | -0.15 | 27080900 | GUJGASLTD.Jan 27 | 644.95 | -0.97 | -1.1 | 2350000 | |
| RECLTD.Jan 27 | 137.05 | 0.33 | -0.95 | 35046000 | SRF.Jan 27 | 2426.35 | -0.61 | -1.06 | 2877750 | |
| LICHSGFIN.Jan 27 | 382.05 | 0.51 | -0.57 | 12282000 | TORNTPHARM.Jan 27 | 3212.4 | -0.44 | -0.31 | 723750 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Hdfc Life Insurance Comp | 653.55 | 0.06 | 3326875 | 0 | 73.33 | Nifty 50 | 17925.25 | 0.67 | 77934 | |
| Honeywell Auto India Ltd | 43366.4 | 2.73 | 16547 | 0 | 71.88 | Nifty Realty | 492.9 | 1.2 | 77940 | |
| Hindustan Unilever Ltd | 2415.8 | 0.61 | 1202512 | 0 | 70.19 | Nifty Bank | 37695.9 | 2.32 | 77940 | |
| Mahanagar Gas Limited | 877.7 | 0.72 | 444278 | 0 | 68.94 | Nifty it | 38609.15 | -1.93 | 77940 | |
| Atul Ltd. | 9206.4 | -1.03 | 233503 | 0 | 66.06 | Nifty Auto | 11256.85 | 1.05 | 77940 | |
| Hdfc Ltd. | 2673.65 | -0.06 | 3743882 | 0 | 63.2 | Nifty Metal | 5684.15 | 1.38 | 77940 | |
| Hindustan Petroleum Corp | 314.3 | 5.51 | 7511958 | 0 | 63.07 | India Vix | 17.23 | 6.89 | 77940 | |
| Dabur India Ltd. | 582.5 | 1.47 | 1001768 | 0 | 62.75 | Nifty Energy | 23518 | 0.63 | 77940 | |
| Kotak Mahindra Bank Limi | 1922.15 | 3.75 | 4208167 | 0 | 62.39 | Nifty Fmcg | 37910.95 | 0.29 | 77940 | |
| Ultratech Cement Limited | 7659.55 | 0.12 | 400874 | 0 | 62.29 | Nifty Pharma | 13999.85 | -0.29 | 77940 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: FX Reserves, USD on 7th January, 2022 | •USD: Initial Jobless Claims on 6th January 2022
•USD : ISM Non-Manufacturing PMI (Dec) on 6th January 2022 |
NEWS UPDATES
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Shares in Future Group companies fell on Wednesday, a day after an Indian court dismissed Future Retail’s appeal to declare arbitration proceedings with now estranged partner Amazon.com Inc as illegal. Justice Amit Bansal at the Delhi High Court said on Tuesday that Future’s filings were dismissed. The arbitration proceedings are set to resume this week.
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Larsen & Toubro (L&T) on Wednesday said its heavy engineering arm has won significant contracts for its various business segments in the third quarter of the ongoing financial year. The modification, revamp and upgrade (MRU) business of L&T Heavy Engineering has been awarded an important contract by a key hydrocarbon sector customer in the Middle East, the company said in a statement.
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Hero Electric has partnered with automotive aftermarket multi-sided platform SpareIt to train private garage owners and use their network as EV service hubs. As part of the collaboration, SpareIt will offer these garages as private garage owners (PGO) for Hero Electric’s B2B and B2C clients, a release said on Wednesday.
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Coal India Limited has incurred a capex of Rs 10,717 crore till December of the ongoing financial year clocking a 37.4% year-on-year growth. Capex during April-December’20 was Rs 7,801 crore. The capex scale up comes at a time when the Centre has been exhorting the public sector entities to step up their annual capex, a senior company executive said.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| ANANDRATHI | Interim Dividend;Quarterly Results | 06-Jan-22 | INTELLADV | General | 07-Jan-22 |
| GGDANDE | General | 06-Jan-22 | JHACC | General | 07-Jan-22 |
| HGS | Interim Dividend;Bonus issue | 06-Jan-22 | NAUKRI | Interim Dividend | 07-Jan-22 |
| RITCO | Employees Stock Option Plan;General | 06-Jan-22 | POLYSPIN | General | 07-Jan-22 |
| STARHFL | General | 06-Jan-22 | PSITINFRA | General | 07-Jan-22 |
| SUDTIND-B | General | 06-Jan-22 | RAJNISH | General | 07-Jan-22 |
| WOCKPHARMA | General | 06-Jan-22 | REGENTRP | General | 07-Jan-22 |
| YAMNINV | General | 06-Jan-22 | SABOOSOD | General;Right Issue of Equity Shares | 07-Jan-22 |
| AREXMIS | General | 07-Jan-22 | SBC | Bonus issue;Stock Split | 07-Jan-22 |
| CHOTHANI | General | 07-Jan-22 | SPSINT | Quarterly Results | 07-Jan-22 |
| GMBREW | Quarterly Results | 07-Jan-22 | TROMBOEXT | General | 07-Jan-22 |
| INDOWIND | Right Issue of Equity Shares | 07-Jan-22 | UNISH | General | 07-Jan-22 |
| INFRATRUST | General | 07-Jan-22 | WARNER | General | 07-Jan-22 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| MAZDOCK | 06-Jan-22 | Interim Dividend – Rs. – 7.1000 | SCHABLON | 11-Jan-22 | Amalgamation |
| IMFA | 07-Jan-22 | Bonus issue 1:1 | SINDHUTRAD | 12-Jan-22 | E.G.M. |
| IPCALAB | 10-Jan-22 | Stock Split From Rs.2/- to Rs.1/- | SMLT | 12-Jan-22 | Interim Dividend – Rs. – 1.0000 |
| AXITA | 11-Jan-22 | Bonus issue 1:2 | AJANTPHARM | 13-Jan-22 | Buy Back of Shares |
| GMRINFRA | 11-Jan-22 | Spin Off | BHATIA | 13-Jan-22 | E.G.M. |
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