moning-outlook-6jan

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

  • 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.

  • 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.

  • 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.

  • 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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