Morning-outlook-8nov-graph

NIFTY:

NIFTY opened at 17044.10 with a gap up of 132 points. The index moved down for the first 15 minutes of trading and recorded its intraday low at 16987.75. The index then moved up. Prices have seen a sharp intraday rally of more than 250 points and recorded its intraday high at 17251.65. Minor dips in between were used as a buying opportunity. Prices have seen a minor correction of about 100 points in the last hour of trading and the index finally closed at 17176.70 with a gain of 264.45 points or 1.56% up. All the sectoral indices have participated in today’s rally and closed with gains. METAL, BANK, FINANCIAL, and REALTY have led the bulls today and ended with a gain of more than 2%.It was a trend day today in the index where prices have recorded its intraday low near the opening tick and intraday high near the closing tick, the range is large enough so we see a few more days where prices may move within these boundaries. As far as the index is trading range-bound our approach should be buying the dips towards 16800 and selling the rally towards 17500.The next likely direction may decide after a breakout only. The volatility is high and it will remain high tomorrow as well due to the RBI’s MPC meeting.

BANK NIFTY:

BANK NIFTY opened at 36086.95 with a gap up of 350 points. The index first recorded its intraday low at 36013.95 within the first five minutes of trading and then started moving higher. The rally took prices to its intraday high at 36820.70 and the started a process of consolidation. Prices have seen a minor decline in the last 30 minutes of trading and finally closed at 36621.65 with a gain of 925 points. PVT and PSU BANKS both indices have seen sharp intraday rally today and closed with handsome gains of 2.48% and 2.31% respectively. Within the index, in terms of points, ICICI BANK contributed the highest followed by AXIS BANK.

A consolidation continued in the BANK NIFTY. The index takes a U-Turn today after moving down for two consecutive trading days. Prices have recovered all the losses that came in last two days, We have also mentioned a possible trading range within 35300 – 36800 zones. This range remained intact and prices are now trading near the resistance levels. A breakout from this range may lead to next likely direction

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
DIXON TECH 5220 BUY The stock is on the verge of giving the breakout on the intraday as well as the daily chart. The stock can be bought  with a stop loss of 5140 and for the target of 5400.
HAVELLS 1410 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 1420 with a stop loss of 1390 and target  of 1470.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
TECHM 1600CE BUY 36 CMP 20 60 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
POLYCAB.Dec 30 2346.75 0.04 5.32 528900 METROPOLIS.Dec 30 3127.6 -4.08 3.27 631400
LAURUSLABS.Dec 30 502.7 0.07 0.58 2941200 IDEA.Dec 30 14.35 -4.01 8.96 7.81E+08
IOC.Dec 30 121.3 0.17 9.55 38415000 ZEEL.Dec 30 351 -1.79 1.25 84018000
ASIANPAINT.Dec 30 3048.7 0.19 6.41 4452150 STAR.Dec 30 465.9 -1.77 2.4 3750300
ESCORTS.Dec 30 1860 0.29 0.25 6240850 APLLTD.Dec 30 797 -1.5 2.23 1789150
                                                                        Short Covering                                                                       Long Unwinding
GLENMARK.Dec 30 496.5 0.43 -0.73 8865350 SUNPHARMA.Dec 30 736.8 -0.26 -0.15 32381300
APOLLOHOSP.Dec 30 5345.95 0.48 -0.26 2071375
HINDUNILVR.Dec 30 2332.05 0.77 -0.21 10906500
MRF.Dec 30 73975.05 0.87 -0.86 69400
DABUR.Dec 30 573.95 0.87 -0.32 10981250

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Max Financial Services l 969.35 1.5 734868 0 78.58 Nifty 50 17176.7 1.56 77751
Hindustan Unilever Ltd 2321.6 0.65 895313 0 66.54 India Vix 18.46 -8.07 77760
Hdfc Ltd. 2817.5 1.76 2543784 0 65.89 Nifty Auto 10759 1.6 77760
Icici Lombard General In 1416.35 -0.21 873771 0 64.97 Nifty Bank 36618.4 2.47 77760
Hdfc Life Insurance Comp 694.4 1.49 2459318 0 62.5 Nifty Pharma 13234.35 0.32 77760
Page Industries Limited 38916.5 1.56 19257 0 61.85 Nifty it 35272.3 1.13 77760
Kotak Mahindra Bank Limi 1937.15 2.76 7344475 0 60.73 Nifty Fmcg 37175.85 0.96 77760
Oracle Fin Serv Soft Ltd 4171.8 1.63 64232 0 60.72 Nifty Media 2273 1.45 77760
Sbi Life Insurance Compa 1159.15 0.93 2090791 0 60.04 Nifty Financial Services 17979.35 2.17 77760
Petronet Lng Limited 224.65 1.47 1959344 0 59.56 Nifty Realty 500.45 2.24 77760

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: RBI Interest Rate Decision on 8th December, 2021

INR: Industrial Production (YoY) (Oct) on 10th December, 2021

•USD: JOLTs Job Openings (Oct) on 8th December, 2021

•USD: Crude Oil Inventories on 8th December, 2021

NEWS UPDATES

  • Welspun One Logistics Parks (WOLP), a pan-India asset management and development platform and part of Welspun Group, has acquired 40 acres of land to set up a large-scale warehousing facility at Malur-Hosur road in Tamil Nadu. With a development potential of 1 million square feet and a total project cost of Rs 300 crore, the facility will service the Bengaluru Metropolitan region’s (BMR’s) industrial and warehousing demand for space, said Welspun in its release today.

  • Vedanta Aluminium Business, a division of Vedanta Limited, one of India’s largest manufacturer of aluminium, has on Tuesday extended invitations to aluminium producers at the Enterprise Odisha 2021 event. The invitation is to partner in its aluminium park project, which will come up in Jharsuguda, Orissa. Vedanta Aluminium has partnered with Odisha Industrial Infrastructure Development Corporation (IDCO) to set up the Vedanta Aluminium Park near its aluminium smelter in Jharsuguda.

  • India is considering appointing its capital markets regulator to oversee cryptocurrencies, according to people with knowledge of the matter, as authorities look to classify them as financial assets. Prime Minister Narendra Modi’s government, which plans to introduce legislation in the ongoing parliament session, will probably give crypto holders a deadline to declare their assets and meet any new rules, the people said, asking not to be identified as the discussions are private.

  • Nestle India on Tuesday informed the exchanges that the government of India has approved its proposal towards production linked scheme w.r.t processed fruits and vegetables.

Source: Economic Times,  Indian Express  ,Business Today, Livemint, Business

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ALANKIT Right Issue of Equity Shares 08-Dec-21 ADROITINFO Reduction of Capital 09-Dec-21
BILLWIN A.G.M. 08-Dec-21 BCG Preferential Issue of shares;A.G.M. 09-Dec-21
CALCOM ESOP;In. in Auth. Capital;Pref. Issue 08-Dec-21 DHANADACO General 09-Dec-21
CELEBRITY General 08-Dec-21 LADIAMO A.G.M.;Audited Results 09-Dec-21
JBMA Stock  Split 08-Dec-21 MEL General 09-Dec-21
KOPRAN Preferential Issue of shares 08-Dec-21 AASHKA Half Yearly Results 10-Dec-21
MAHACORP General 08-Dec-21 BHATIA General 10-Dec-21
MAITRI General;Preferential Issue of shares 08-Dec-21 BLUECLOUDS Preferential Issue of shares 10-Dec-21
NEOGEN Preferential Issue of shares 08-Dec-21 OBCL General 10-Dec-21
PANCHSHEEL Bonus issue;General 08-Dec-21 SINDHUTRAD Stock  Split 10-Dec-21
ROLTA Quarterly Results 08-Dec-21 SUPRAP General 10-Dec-21
TAMJAIM General 08-Dec-21 UNIVPHOTO Voluntary Delisting of Shares 10-Dec-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
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/-
TTL 09-Dec-21 Interim Dividend – Rs. – 1.0000 RAJESHEXPO 15-Dec-21 Dividend – Rs. – 1.0000

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