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 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.
|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.|
|Stock Name||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|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|
TOP DELIVERY PERCENTAGE
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|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
|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
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
|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|
|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|
|INDOUS||General||07-Dec-21||MAITRI||General;Preferential Issue of shares||08-Dec-21|
|MDRNSTL||A.G.M.;Audited Results; Results||07-Dec-21||ROLTA||Quarterly Results||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|
|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.|
|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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