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 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
|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.|
|Stock Name||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|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|
TOP DELIVERY PERCENTAGE
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|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
|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
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
|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|
|KOPRAN||Preferential Issue of shares||08-Dec-21||AASHKA||Half Yearly Results||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|
|TAMJAIM||General||08-Dec-21||UNIVPHOTO||Voluntary Delisting of Shares||10-Dec-21|
|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.|
|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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