NIFTY:

NIFTY opened at 17768.50 wit ha big gap down of 157 points. The index moved further on the downside and recorded its intraday low at 17655.50. Prices have found intraday support and then consolidated. That consolidation broke on the upside and prices have seen an upside move to almost its early morning highs. The index recorded its intraday high at 17797.95, saw a minor decline in the last 30 minutes of trading, and finally closed at 17745.90 wit h a loss of 17.35 points or 1% down. All the sectoral indices have closed with a loss today except MEDIA and AUTO. The IT and REALTY sectors have led the bears today and ended with ; loss of more than 1%.

This is normal as we have witnessed a sharp upside move of almost 700 points. As mentioned before also, “After such a sharp move, prices tend to move narrow, choppy, and sideways ‘ The short-term trend is up and intact. Support is visible around 17500 while resistance may appear around 18000 levels. We have mentioned a few scenarios which couId suggest a trade. If the index holds this resistance then we may get to see a narrow trading range around 18000 levels. A breakout from that likely range will give us a trading opportunity

BANK NIFTY:

BANK NIFTY opened at 37164.25 wit h a big ga p down of 480 points. The index moved further of the downside and recorded its intraday at 37058.45. Prices then went into a consolidation and eventually broke on the upside. A sharp rally brought prices to its intraday high at 37752.50 ; finally the index closed at 37470.45 wit ha loss of 174 points. PSU BANKS have performed well today and closed wit ha gain of 0.48% while PVT BANKS have underperformed today and ended wit h a loss of 0.4′. Within the index, in terms of points, INDUSIND BANK contributed the highest while HDFC BANK contributed the lowest.

Buy the index on a retest at 37000 level. Keep a stop of 200 points and a target of 600 points. We have seen a sharp rally in last few trading days. This could lead prices to a phase of consolidation. Our approach should be using dips to buy.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
TATAPOWER 228 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 229 with a stop loss of 225 and for the target of 235.
DEEPAKNTR 2534 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 2540 with a stop loss of 2510 and target  of 2600.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
UPL   800CE BUY 17 CMP 10 30 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
IOC.Jan 27 117.55 0 3.56 43660500 CUB.Jan 27 140.6 -3.13 16 10227200
LAURUSLABS.Jan 27 528 0.02 20.77 5112000 JSWSTEEL.Jan 27 675.3 -3.05 3.44 42572250
ICICIPRULI.Jan 27 576.95 0.03 2.23 5407500 ULTRACEMCO.Jan 27 7472.75 -2.94 9.07 1623900
DABUR.Jan 27 583.8 0.04 1.06 10255000 PERSISTENT.Jan 27 4563.55 -2.87 9.53 525750
HINDPETRO.Jan 27 314.9 0.05 2.97 11342700 SHREECEM.Jan 27 26588.8 -2.82 4.67 170275
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
FEDERALBNK.Jan 27 90.45 0.06 -0.02 93750000 SIEMENS.Jan 27 2293 -1.6 -1.01 1936550
UBL.Jan 27 1586 0.17 -1.13 1135050 AMBUJACEM.Jan 27 388.15 -1.58 -0.51 12841500
VEDL.Jan 27 338.4 1.05 -0.46 57870800 NESTLEIND.Jan 27 19710 -1.53 -0.24 303725
GAIL.Jan 27 139.1 1.79 -0.21 37722400 FINNIFTY.Jan 25 18200 -1.25 -6.38 1760
MOTHERSUMI.Jan 27 233.75 4.17 -0.8 26792500 TORNTPHARM.Jan 27 3173.2 -1.19 -0.71 702250

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Atul Ltd. 9157.7 -0.53 26244 0 89.73 Nifty 50 17745.9 -1 78375
Hdfc Ltd. 2620.4 -1.99 4616700 0 76.65 Nifty Bank 37490.25 -0.55 78375
Cummins India Limited 941.65 1.33 714262 0 74.71 Nifty it 38009 -1.55 78375
Hindustan Unilever Ltd 2391.4 -1.01 1198901 0 70.72 Nifty Auto 11316.6 0.53 78375
Divi S Laboratories Limi 4489.15 -1.52 447726 0 69.26 Nifty Metal 5656 -0.5 78375
Mahanagar Gas Limited 878.9 0.14 1171642 0 68.75 India Vix 17.98 4.34 78375
Piind 2954.3 -1.3 173758 0 67.73 Nifty Pharma 13912.25 -0.63 78375
Metropolis Healthcare Li 3335.8 -2.31 100180 0 65.92 Nifty Auto 11316.6 0.53 78375
City Union Bank Ltd. 140 -2.98 4416454 0 64.45 Nifty Metal 5656 -0.5 78375
Hdfc Life Insurance Comp 646.9 -1.02 2548339 0 63.48 Nifty Realty 485.65 -1.47 78378

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR:  FX Reserves, USD on 7th January, 2022

INR: CPI (YoY) (Dec) on 12th January, 2022

•USD:  Nonfarm Payrolls (Dec) on 7th January 2022

•USD : Unemployment Rate (Dec) on 7th January 2022

NEWS UPDATES

  • Reliance Retail has bought a 25.8 per cent stake in Dunzo, India’s leading quick commerce player, for USD 200 million (around Rs 1,488 crore) as it looks to expand its presence in online grocery delivery business. Dunzo raised $240 million in its latest funding round that was led by Reliance Retail Ventures Ltd – the retail arm of Reliance Industries.

  • Tata Starbucks on Thursday announced entry into six new markets as part of its expansion into smaller cities in India. With these new additions, the company now operates 252 Starbucks stores in 26 cities. It is entering into — Siliguri, Nashik, Guwahati, Thiruvananthapuram, Goa and Bhubaneswar.

  • Pharmaceuticals firm Wockhardt Ltd on Thursday said its board has approved a proposal to raise up to Rs 1,000 crore through a rights issue. The objective of the issue is to meet the company’s financing needs for repayment of subordinated debt due, financing research and development initiatives and general corporate purposes, among others, permitted by law, Wockhardt Ltd said in a regulatory filing.

  • B2B e-online marketplace IndiaMART on Thursday said it has invested about Rs 133.5 million via its wholly-owned subsidiary Tradezeal Online Pvt Ltd to acquire a 26.01 per cent stake in EasyEcom. Edgewise Technologies – under the brand name ‘EasyEcom’ – offers AI-driven omnichannel inventory and warehouse management solutions to merchants. Its solutions allow merchants to allocate, track and reconcile inventory across various online and offline sales channels.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
AREXMIS General 07-Jan-22 SBC Stock  Split;Bonus issue 07-Jan-22
CHOTHANI General 07-Jan-22 SPSINT Quarterly Results 07-Jan-22
GMBREW Quarterly Results 07-Jan-22 TROMBOEXT General 07-Jan-22
INDOWIND Right Issue of Equity Shares 07-Jan-22 UNISH General 07-Jan-22
INFRATRUST General 07-Jan-22 WARNER General 07-Jan-22
INTELLADV General 07-Jan-22 ADVIKLA Quarterly Results 08-Jan-22
JHACC General 07-Jan-22 DESHRAK General 08-Jan-22
NAUKRI Interim Dividend 07-Jan-22 DMART Quarterly Results 08-Jan-22
POLYSPIN General 07-Jan-22 EARUM Quarterly Results 08-Jan-22
PSITINFRA General 07-Jan-22 FRASER Quarterly Results 08-Jan-22
RAJNISH General 07-Jan-22 SURJIND General;Quarterly Results 08-Jan-22
REGENTRP General 07-Jan-22 YURANUS Quarterly Results 08-Jan-22
SABOOSOD General;Right Issue of Equity Shares 07-Jan-22 AVI Quarterly Results 09-Jan-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
IMFA 07-Jan-22 Bonus issue 1:1 SINDHUTRAD 12-Jan-22 E.G.M.
IPCALAB 10-Jan-22 Stock  Split From Rs.2/- to Rs.1/- SMLT 12-Jan-22 Interim Dividend – Rs. – 1.0000
AXITA 11-Jan-22 Bonus issue 1:2 AJANTPHARM 13-Jan-22 Buy Back of Shares
GMRINFRA 11-Jan-22 Spin Off BHATIA 13-Jan-22 E.G.M.
SCHABLON 11-Jan-22 Amalgamation INDOAMIN 13-Jan-22 Stock  Split From Rs.10/- to Rs.5/-

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