Outlook-07-12-2021

NIFTY:

NIFTY opened at 17209.05 with a gap up of just 13 points. The index recorded its intraday high at 17216.75 within the first five minutes of trading started drifting downwards. Prices kept on falling throughout the day. Minor rallies fizzled out quickly and the index recorded its intraday low at 16891.70. The index closed at 17912.25 near its intraday low with a loss of 284.45 points or 1.65% down. All the sectoral indices have closed with a loss today. The IT sector led the bears today and ended with a loss of 2.70%. The AUTO, FMCG, and PHARMA have also moved down and ended with a loss of more than 1.50%.

The short-term trend is still sideways but the bias has changed to bearish. The index is now trading near the support levels and previous swing low around 16800 a breakdown may lead to further decline. The long-term trend is sideways while the long-term momentum is moving within the weak zone for the past few trading days. The Intermediate trend is down again while the intermediate momentum has moved down from the strength zone and is now heading towards the weak zone.

 

BANK NIFTY:

BANK NIFTY opened at 36252.75 with minor gap up of just 39 points. The index first moved down and then rallied to record its intraday high at 36344.55. Prices then started drifting downwards, seen a down move of more than 600 points and recorded its intraday low at 35696.75. The index finally closed at 35736.65 with a loss of 476 points. PVT and PSU BANKS both have seen sharp intraday decline today and dosed with a loss of 1.40% and 1.49% respectively. Within the index, in terms of points, SBIN contributed the highest on the downside followed by ICICI BANK.

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 and prices are now heading the support levels. A breakdown from this range may lead to lower levels. This will also change the short-term trend to the downside. Tomorrow, we should look for a shorting opportunity on a breakdown below 35500.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
BHARATFORGE 687 SELL The stock is on the verge of giving the breakdown on the intraday as well as the daily chart. The stock can be sold with a stop loss of 705 and for the target of 665.
CUMMINSIND 924 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 930 with a stop loss of  900 and target  of 980.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
GODREJPROP 1950PE BUY 93 CMP 60 150 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
RECLTD.Dec 30 133.35 0.11 1.29 44646000 COALINDIA.Dec 30 149.4 -6.89 0.27 50190000
BEL.Dec 30 208.15 0.29 1.84 20181800 PVR.Dec 30 1362 -5.57 7.41 2748471
BHEL.Dec 30 61 0.41 3.3 1.07E+08 INDUSTOWER.Dec 30 268 -5.05 4.25 16909200
UPL.Dec 30 717.6 0.59 0.7 24791000 DALBHARAT.Dec 30 1783.05 -4.8 12.38 508500
METROPOLIS.Dec 30 3251.15 0.95 10.77 623400 LTI.Dec 30 6576 -4.46 6.57 608550
                                                                        Short Covering                                                                       Long Unwinding
HINDPETRO.Dec 30 300 0.23 -1.04 12298500 IBULHSGFIN.Dec 30 245.2 -4.03 -1.06 39683100
CROMPTON.Dec 30 431.5 0.44 -0.52 2297900 GSPL.Dec 30 300.4 -3.5 -1.05 1439900
CUMMINSIND.Dec 30 928.95 0.51 -0.27 1320600 BALKRISIND.Dec 30 2131.95 -3.39 -0.09 1740000
IDEA.Dec 30 14.75 2.08 -1.94 8.15E+08 LALPATHLAB.Dec 30 3616 -2.98 -0.7 494875
BSOFT.Dec 30 471 -2.94 -3.63 4176900

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Tata Consultancy Serv Lt 3536.4 -2.86 1849642 0 76.61 Nifty 50 16912.25 -1.65 81177
Icici Lombard General In 1419.4 -2.07 542372 0 73.44 Nifty it 34879.4 -2.7 81177
Power Grid Corporation o 202 -1.99 8491835 0 73.02 Nifty Pharma 13192.25 -1.87 81180
Gail (india) Limited 128.85 -2.57 24820032 0 70.56 Nifty Auto 10589.8 -1.84 81180
Rec Limited 132.8 0.19 6992011 0 68.5 Nifty Fmcg 36821.85 -1.8 81180
Hdfc Bank Ltd. 1503.8 -0.64 3514766 0 67.01 Nifty Bank 35735.9 -1.27 81177
Crompton Greaves Consume 430.35 0.61 667758 0 66.53 Nifty Financial Services 17596.7 -1.03 81183
Hcl Technologies Ltd. 1136.55 -2.98 2493755 0 64.78 Nifty Metal 5327.9 -1.2 81180
Colgate Palmolive (india 1428.95 -1.46 389583 0 64.6 Nifty Psu Bank 2594.35 -1.49 81180
Britannia Ind Ltd. 3496.2 -1.62 165986 0 64.16 Nifty Services Sector 23968.2 -1.66 81180

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

  • As rains recede in southern and western India, cement companies expect demand and consumption to pick up from December. “Slowly demand is coming back to normalcy across all sectors. In a week or so we may even see pent-up demand coming back,” M. Ravinder Reddy, director at Bharathi Cement, told Business Standard. Heavy rains in Tamil Nadu, Kerala, Andhra Pradesh and parts of Maharashtra dragged cement volumes across sectors during festivals coinciding with peak season for the industry starting October until May.

  • Tata Motors, India’s largest commercial vehicle manufacturer, has announced a price hike of its commercial vehicle range. An increase in price in the range of 2.5%, will be implemented from January 1, 2022 and will be put into effect across segments – M&HCV, I&LCV, SCV and Bus, basis individual model and variant of the vehicle, the company said on Monday.

  • The union government has no plans for boosting the cryptocurrency sector in the country, the ministry of finance told Parliament on Monday.

  • Inox Green Energy Services Limited in their meeting held today i.e. 6 December, 2021 has approved fund raising, subject to receipt of requisite approvals including approval of the shareholders, market conditions and other considerations, by way of an initial public offer of its Equity Shares comprising of fresh issue of Equity Shares aggregating upto Rs. 500 Crore (“Fresh Issue”) and/ or an offer of sale of Equity Shares by certain existing and eligible shareholders of the company, in accordance with the Companies Act, 2013 .

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ABIRAFN General 07-Dec-21 CALCOM ESOP;Increase in Auth.Cap.;Pref.  Issue 08-Dec-21
BRAHMINFRA A.G.M. 07-Dec-21 CELEBRITY General 08-Dec-21
CRPRISK A.G.M.; Results;Half Yearly Results 07-Dec-21 JBMA Stock  Split 08-Dec-21
GBFL General 07-Dec-21 KOPRAN Preferential Issue of shares 08-Dec-21
HINDZINC Interim Dividend 07-Dec-21 MAHACORP General 08-Dec-21
INDOUS General 07-Dec-21 MAITRI General;Preferential Issue of shares 08-Dec-21
MAWANASUG General 07-Dec-21 PANCHSHEEL Bonus issue;General 08-Dec-21
MDRNSTL A.G.M.;Audited Results; Results 07-Dec-21 ROLTA Quarterly Results 08-Dec-21
NHPC General 07-Dec-21 TAMJAIM General 08-Dec-21
NMSRESRC Amalgamation;General 07-Dec-21 ADROITINFO Reduction of Capital 09-Dec-21
SHEMAROO Employees Stock Option Plan 07-Dec-21 DHANADACO General 09-Dec-21
WARDINMOBI General 07-Dec-21 LADIAMO A.G.M.;Audited Results 09-Dec-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
CHLOGIST 07-Dec-21 E.G.M. TTL 09-Dec-21 Interim Dividend – Rs. – 1.0000
GPL 08-Dec-21 Amalgamation WEIZMANIND 09-Dec-21 Buy Back of Shares
BNKCAP 09-Dec-21 Dividend – Rs. – 2.5000 SEACOAST 10-Dec-21 E.G.M.
DUGARHOU 09-Dec-21 E.G.M. NIHARINF 13-Dec-21 E.G.M.
OAL 09-Dec-21 Interim Dividend – Rs. – 1.5000 HINDZINC 14-Dec-21 Interim Dividend
RIDHISYN 09-Dec-21 Right Issue of Equity Shares NMDC 14-Dec-21 Interim Dividend – Rs. – 9.0100
SHIVAMAUTO 09-Dec-21 Right Issue of Equity Shares TTKPRESTIG 14-Dec-21 Stock  Split From Rs.10/- to Rs.1/-

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