NIFTY:
NIFTY opened at 17590.20 with a gap up of 30 points. The index first moved down, filled that gap, and then bounced up to record its intraday high at 17617.80. Prices then started moving on the downside again and broke down 17500 to record its intraday low at 17462.55. Prices consolidated there for about one hour and then broke on the upside. A rally started but fizzled out quickly and failed to reach 17600.The index finally closed at 17516.30 near its intraday low with a loss of 43.90 points or 0.25% down. The METAL outperformed today and closed with a gain of 1.18%.The REALTY underperformed and ended lower with a loss of 2.76.IT and FMCH ended on a flat note.
A gap-up opening did not sustain as mentioned in our previous letter, “Resistance is now clearly visible around 17800 while short-term support is visible at 17500. Below this, the next support may emerge around 17300.“ The volatility is moderately high as the INDIA VIX is still trading around 19. It will be normal when INDIA VIS moves below 16.The short-term trend is still up and as of now, we are in a phase of correction.
BANK NIFTY:
BANK NIFTY opened at 39128 with a gap up of 248 points. Prices rallied further and recorded its intraday high at 39278.60.Theindex then moved down, erases all the gains and recorded its intraday low at 38562.60.After that the index consolidated towards the end of today’s trading session and finally closed at 38735.55 with a loss of 145 points. PSU BANKS have underperformed, saw a sharp intraday decline and closed lower by 1.92%. PVT BANKS have also closed lower 0.40%. Within the index, in terms of points, HDFC BANK contributed the highest while SBIN contributed the lowest.
On last letter, we have recommended a trade on the long side to buy on a dip towards 38200. Prices did not come to that level so this trade did not execute. We are recommending the same trade for Monday also.
TECHNICAL PICKS
| COMPANY NAME | CMP | B/S | RATIONALE+ |
| MARICO | 510 | 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 511 with a stop loss of 505 and for the target of 518. |
| BANKBARODA | 106.55 | SELL | The immediate trend of the script is bearish. There is a negative cross over of moving averages as well as of the indicators therefore it can be sold below 106 with a stop loss of 108 and target of 103. |
DERIVATIVE PICKS
| Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| ASIANPAINT | 3250 CE | BUY | 64 | CMP | 40 | 100 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| TCS.Feb 24 | 3828 | 0.02 | 2.83 | 11616750 | GODREJPROP.Feb 24 | 1518.9 | -8.91 | 32.66 | 6106425 | |
| RAIN.Feb 24 | 228.05 | 0.15 | 3.65 | 6680000 | FSL.Feb 24 | 148.95 | -6.88 | 20.93 | 12526800 | |
| HAVELLS.Feb 24 | 1208.95 | 0.18 | 3.71 | 4445500 | M&MFIN.Feb 24 | 153.85 | -3.9 | 18.57 | 41992000 | |
| CROMPTON.Feb 24 | 413.55 | 0.19 | 0.75 | 2813800 | COROMANDEL.Feb 24 | 784.2 | -3.79 | 11.48 | 1360000 | |
| JUBLFOOD.Feb 24 | 3204.25 | 0.2 | 2.87 | 2658375 | SBICARD.Feb 24 | 854.2 | -3.52 | 5.66 | 5028500 | |
| Short Covering | Long Unwinding | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| POLYCAB.Feb 24 | 2497.05 | 0.07 | -1.73 | 785400 | HONAUT.Feb 24 | 44571 | -3.12 | -11.41 | 7920 | |
| SRF.Feb 24 | 2447 | 0.21 | -0.95 | 2907375 | MCX.Feb 24 | 1429 | -2.65 | -1.14 | 2133250 | |
| ULTRACEMCO.Feb 24 | 7430.5 | 0.47 | -1.04 | 1848800 | OFSS.Feb 24 | 3622 | -2.56 | -0.13 | 577000 | |
| GSPL.Feb 24 | 318.95 | 0.57 | -2.36 | 1407600 | BALKRISIND.Feb 24 | 2287.05 | -2.22 | -0.06 | 1058400 | |
| METROPOLIS.Feb 24 | 2579.5 | 0.97 | -2.71 | 603600 | CANFINHOME.Feb 24 | 644.95 | -2.22 | -0.19 | 3639675 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Pidilite Industries Ltd | 2481.8 | -0.85 | 452448 | 0 | 78.42 | Nifty 50 | 17516.3 | -0.25 | 80271 | |
| Icici Lombard General In | 1364.85 | -1.41 | 660886 | 0 | 72.54 | Nifty Bank | 38789.35 | -0.57 | 80271 | |
| Ambuja Cements Ltd | 380.4 | -0.39 | 5637748 | 0 | 72.02 | Nifty it | 35080.1 | 0.07 | 80271 | |
| Hindustan Unilever Ltd | 2306.6 | 0.37 | 1014561 | 0 | 69.26 | Nifty Auto | 11560.6 | -1.05 | 80274 | |
| Hdfc Bank Ltd. | 1524 | 0.57 | 5789979 | 0 | 67.16 | Nifty Metal | 5829.5 | 1.18 | 80274 | |
| Alembic Pharmaceuticals | 747.55 | -1.84 | 120448 | 0 | 66.3 | India Vix | 18.9 | -1.36 | 80271 | |
| Power Finance Corporatio | 119.9 | -1.64 | 5249504 | 0 | 65.62 | Nifty Media | 2230.55 | -1.89 | 80274 | |
| Hdfc Life Insurance Comp | 624.35 | -1.58 | 1909456 | 0 | 63.38 | Nifty Fmcg | 37508.4 | 0.11 | 80274 | |
| Tata Consultancy Serv Lt | 3814.9 | -0.25 | 2307366 | 0 | 63.38 | Nifty Realty | 473.45 | -2.76 | 80274 | |
| Godrej Cons Products Ltd | 912.35 | -1.19 | 781566 | 0 | 62.87 | Nifty Pharma | 13580.3 | -0.27 | 80274 | |
| Crompton Greaves Consume | 413 | 0.33 | 665129 | 0 | 61.49 | Nifty Financial Services | 18071.7 | -0.45 | 80274 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: RBI Interest Rate Decision on 9th February, 2022
INR: Industrial Production (YoY) on 11th February, 2022 |
•USD: Crude Oil Inventories on 9th February 2022
•USD: Core CPI (MoM) (Jan) on 10th February 2022 |
NEWS UPDATES
- TIndia aims to seek final regulatory approval for the initial public offering of its state-run insurer next week. The draft prospectus for Life Insurance Corporation of India is in the final stages and is awaiting approval from the insurance regulator, said Tuhin Kanta Pandey, the top government official in charge of asset sales.
- Vedant Fashions Ltd.’s initial public offer saw lukewarm investor interest on its first day. The IPO by the owner of the ethnic wear brand Manyavar is a pure offer for sale of 3.64 crore shares by existing shareholders and promoters, the Kolkata-based wedding and celebration wear brand said in its red herring prospectus. The price band is set at Rs 824-866 apiece.
- Jio Platforms Ltd. has agreed to buy stake in Silicon Valley artificial intelligence startup Two Platforms Inc. as the Mukesh Ambani-controlled group continues to expand its digital business. Jio Platforms will invest $15 million in the startup for a 25% stake, the company said in a statement. Ambani’s Reliance Industries Ltd. has invested about $1 billion so far in Indian startups.
- Godrej Properties Ltd. has decided to cancel the proposed deal with DB Realty Ltd. amid investor concerns, reflected in Friday’s stock plunge. The company received “substantial feedback and views” from its stakeholders and minority investors raising concern on the proposed transaction, Godrej Properties said in an exchange filing. Taking that into consideration, the board has decided “not to proceed with any further evaluation of potential investment in the equity capital of DB Realty and the Platform”.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| BANARISUG | Quarterly Results | 07-Feb-22 | NATIONALUM | Interim Dividend;General;Results | 07-Feb-22 |
| RSWM | Quarterly Results | 07-Feb-22 | TVSMOTOR | Quarterly Results | 07-Feb-22 |
| PASUPTAC | Quarterly Results | 07-Feb-22 | COMPUAGE | Quarterly Results | 07-Feb-22 |
| GLAXO | Quarterly Results | 07-Feb-22 | UNIONBANK | Quarterly Results | 07-Feb-22 |
| CASTROLIND | Audited Results | 07-Feb-22 | JSL | General;Quarterly Results | 07-Feb-22 |
| PENINLAND | Quarterly Results | 07-Feb-22 | MINDAIND | Interim Dividend;Quarterly Results | 07-Feb-22 |
| PHOENIXLTD | Quarterly Results | 07-Feb-22 | PONDYOXIDE | Quarterly Results | 07-Feb-22 |
| LATIMMETAL | Quarterly Results | 07-Feb-22 | SHIVAMAUTO | Quarterly Results | 07-Feb-22 |
| GABRIEL | Quarterly Results | 07-Feb-22 | INDIANB | Quarterly Results | 07-Feb-22 |
| WPIL | Quarterly Results | 07-Feb-22 | CAMLINFINE | General;Quarterly Results | 07-Feb-22 |
| NITTAGELA | Quarterly Results | 07-Feb-22 | KPRMILL | Buy Back of Shares;Quarterly Results | 07-Feb-22 |
| SHIVTEX | Quarterly Results | 07-Feb-22 | RGL | Interim Dividend;Quarterly Results | 07-Feb-22 |
| SUPER | Quarterly Results | 07-Feb-22 | TRIL | Quarterly Results | 07-Feb-22 |
| MAHASTEEL | Quarterly Results | 07-Feb-22 | GOKUL | Quarterly Results | 07-Feb-22 |
| AARVEEDEN | Quarterly Results | 07-Feb-22 | PSB | Quarterly Results | 07-Feb-22 |
| SALZER | Quarterly Results | 07-Feb-22 | TEXRAIL | General;Quarterly Results | 07-Feb-22 |
| GIPCL | Quarterly Results | 07-Feb-22 | AIIL | General;Quarterly Results | 07-Feb-22 |
| BUTTERFLY | Quarterly Results | 07-Feb-22 | SHK | Quarterly Results | 07-Feb-22 |
| ICIL | Quarterly Results | 07-Feb-22 | VALIANTORG | Quarterly Results | 07-Feb-22 |
| MMFL | Quarterly Results | 07-Feb-22 | TIINDIA | Interim Dividend;Quarterly Results | 07-Feb-22 |
| TCPLPACK | Quarterly Results | 07-Feb-22 | FSC | Quarterly Results | 07-Feb-22 |
| JMFINANCIL | Quarterly Results | 07-Feb-22 | BOROLTD | General;Quarterly Results | 07-Feb-22 |
| PRECWIRE | Interim Dividend;Quarterly Results | 07-Feb-22 | CLEAN | Quarterly Results | 07-Feb-22 |
| NUCLEUS | Audited Results | 07-Feb-22 | AMIORG | Quarterly Results | 07-Feb-22 |
| AGARIND | Quarterly Results | 07-Feb-22 | SANSERA | Quarterly Results | 07-Feb-22 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| COFORGE | 07-Feb-22 | Interim Dividend – Rs. – 13.00 | NIITLTD | 08-Feb-22 | Interim Dividend – Rs. – 3.00 |
| CONTROLPR | 07-Feb-22 | Interim Dividend – Rs. – 4.00 | PGHH | 08-Feb-22 | Interim Dividend – Rs. – 95.00 |
| EXIDEIND | 07-Feb-22 | Interim Dividend – Rs. – 2.00 | SCHAEFFLER | 08-Feb-22 | Stock Split From Rs.10/- to Rs.2/- |
| INFIBEAM | 07-Feb-22 | Interim Dividend – Rs. – 0.0500 | AARTIDRUGS | 09-Feb-22 | Interim Dividend – Rs. – 1.00 |
| KEI | 07-Feb-22 | Interim Dividend – Rs. – 2.50 | BEL | 09-Feb-22 | Interim Dividend – Rs. – 1.50 |
| KKCL | 07-Feb-22 | Interim Dividend – Rs. – 4.00 | GILLETTE | 09-Feb-22 | Interim Dividend – Rs. – 33.00 |
| NIRMITEE | 07-Feb-22 | E.G.M. | GPTINFRA | 09-Feb-22 | Interim Dividend – Rs. – 1.50 |
| ROUTE | 07-Feb-22 | Interim Dividend – Rs. – 3.00 | IOC | 09-Feb-22 | Interim Dividend – Rs. – 4.00 |
| BLUEDART | 08-Feb-22 | Interim Dividend – Rs. – 25.00 | ORIENTCEM | 09-Feb-22 | Interim Dividend – Rs. – 0.7500 |
| GRAVITA | 08-Feb-22 | Interim Dividend – Rs. – 3.00 | SUNPHARMA | 09-Feb-22 | Interim Dividend – Rs. – 7.00 |
| HIL | 08-Feb-22 | Interim Dividend – Rs. – 20.00 | ALKEM | 10-Feb-22 | Interim Dividend – Rs. – 30.00 |
| KIRLPNU | 08-Feb-22 | Interim Dividend – Rs. – 1.60 | APCOTEXIND | 10-Feb-22 | Interim Dividend – Rs. – 2.00 |
| MKEXIM | 08-Feb-22 | Bonus issue 2:1 | BAJAJCON | 10-Feb-22 | Interim Dividend – Rs. – 4.00 |
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