Morning Outlook 7th December, 2021

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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