Morning-Outlook-Feature-Image
Outlook

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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