NIFTY:
NIFTY opened at 17456.30 with a gap down of 60 points. The index first moved up, filled the gap down, and rallied further up to record its intraday high at 17536.75. Prices then started moving on the downside, saw a sharp decline of more than 400 points from its early morning high to record its intraday low at 17119.40. In the last one hour of trading, prices recovered almost 100 points and finally closed at 17213.60 near its intraday low with a loss of 302.70 points or 1.73% down. All the sectoral indices have seen a decline today and closed lower led by the BANK, FINANCIAL which ended with a loss of more than 2%.METAL and OIL GAS have ended almost flat.
The volatility is rising again as the volatility index’ INDIA VIX’ has risen above 20 today. It will be normal when the value moves below 16.The short term trend is sideways now and it will be down once the index breaks and close below 17000. The next support is visible around 17000. This is strong support for the NIFTY as prices have respected this level on many occasions. A breakdown below may lead prices to 16500.
The long – term trend is up while the long-term momentum has bounced up from the weak zone and is now heading towards the strength zone.
BANK NIFTY:
BANK NIFTY opened at 38592.05 with a gap down of 143 points. Prices first moved up, filled the gap and then recorded its intraday high at 38837.55. Prices then started drifting downwards and fell more than 1000 points to record its intraday low at 37802.70. The index consolidated in the last hour of trading and finally closed at 37990.20 with a loss of 745 points. PSU BANKS have outperformed today, saw a rally and closed higher by 0.92%. PVT BANKS have underperformed today, saw a sharp intraday decline an closed lower with a loss of 2.34% Within the index, in terms of points, SBIN contributed the highest while HDFC BANK contributed the lowest.
The current decline is a correction of a sharp rally of about 3000 points in the last two weeks. We should now wait for prices to finds support. However, if index remain below 38000 then we will be look for a shorting opportunity.
TECHNICAL PICKS
| COMPANY NAME | CMP | B/S | RATIONALE+ |
| MUTHOOTFIN | 1422 | 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 1425 with a stop loss of 1410 and for the target of 1450. |
| HDFC | 2428 | 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 2430 with a stop loss of 2450 and target of 2380. |
DERIVATIVE PICKS
| Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| TORNTPOWER | 520 PE | BUY | 24 | CMP | 18 | 40 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| SYNGENE.Feb 24 | 569.9 | 0.05 | 0.93 | 1108400 | TORNTPOWER.Feb 24 | 510.65 | -11.01 | 27.09 | 4680000 | |
| BANDHANBNK.Feb 24 | 320 | 0.06 | 0.64 | 21648600 | LUPIN.Feb 24 | 805.2 | -7.77 | 37.36 | 10469450 | |
| SUNTV.Feb 24 | 503.65 | 0.09 | 0.42 | 11859000 | APOLLOHOSP.Feb 24 | 4464.9 | -4.8 | 1.32 | 2412125 | |
| SRF.Feb 24 | 2448.05 | 0.11 | 8.74 | 3154500 | POLYCAB.Feb 24 | 2381.55 | -4.48 | 9.56 | 852900 | |
| MUTHOOTFIN.Feb 24 | 1422.75 | 0.11 | 3.07 | 3980250 | HDFCAMC.Feb 24 | 2207 | -4.1 | 5.66 | 3197400 | |
| Short Covering | Long Unwinding | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| SHREECEM.Feb 24 | 24836.95 | 0.44 | -0.9 | 167900 | FSL.Feb 24 | 142.6 | -4.84 | -1.21 | 11213800 | |
| GAIL.Feb 24 | 148 | 0.78 | -0.75 | 29749700 | BSOFT.Feb 24 | 450.45 | -3.98 | -0.16 | 4777500 | |
| M&MFIN.Feb 24 | 155.05 | 1.01 | -3 | 36712000 | OBEROIRLTY.Feb 24 | 914.35 | -3.68 | -2.33 | 2552900 | |
| GUJGASLTD.Feb 24 | 694 | 1.52 | -3.6 | 2075000 | TORNTPHARM.Feb 24 | 2606.6 | -3.02 | -0.41 | 841750 | |
| RECLTD.Feb 24 | 131.55 | -2.95 | -0.72 | 32100000 | ||||||
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Icici Lombard General In | 1337 | -2.04 | 972861 | 0 | 83.81 | Nifty 50 | 17213.6 | -1.73 | 81930 | |
| Pfizer Ltd. | 4405.25 | -1.48 | 44851 | 0 | 79.2 | Nifty Bank | 37995.45 | -2.05 | 81930 | |
| Ambuja Cements Ltd | 382.65 | 0.59 | 2535377 | 0 | 70.23 | Nifty it | 34621.25 | -1.31 | 81930 | |
| Icici Prudential Life In | 522.95 | -2.4 | 914910 | 0 | 70.19 | India Vix | 20.44 | 8.13 | 81927 | |
| Colgate Palmolive (india | 1437.15 | -1.23 | 224018 | 0 | 69.63 | Nifty Auto | 11407.25 | -1.33 | 81933 | |
| Hdfc Ltd. | 2428.15 | -3 | 3664108 | 0 | 69.31 | Nifty Metal | 5829 | -0.01 | 81933 | |
| Max Financial Services l | 869.3 | -1.71 | 1157647 | 0 | 69.25 | Nifty Media | 2197.4 | -1.49 | 81933 | |
| Petronet Lng Limited | 212 | -0.35 | 1627708 | 0 | 69.04 | Nifty Fmcg | 36764.95 | -1.98 | 81930 | |
| Hdfc Bank Ltd. | 1468.15 | -3.66 | 6134021 | 0 | 68.52 | Nifty Realty | 468.2 | -1.11 | 81933 | |
| Torrent Pharma Ltd. | 2614.35 | -2.56 | 158464 | 0 | 63.81 | Nifty Pharma | 13381.7 | -1.46 | 81930 | |
| Godrej Cons Products Ltd | 889.4 | -2.52 | 881015 | 0 | 63.07 | Nifty Financial Services | 17607.85 | -2.57 | 81933 | |
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
-
TVS Motor Company, the flagship company of TVS Group, has posted a 9 per cent rise in net profit during the third quarter of the current financial year to Rs 288 crore, from Rs 266 crore during the October to December quarter of 2020-21, owing to better sales. The company reported a highest-ever operating revenue of Rs 5,706 crore in the third quarter of 2021-22 as against Rs 5,391 crore in the third quarter ended December 2020. The company’s operating EBITDA margin was at 10 per cent during the period under review as against 9.5 per cent during the third quarter ended December 2020.
-
The HPCL’s Visakha Refinery is set for modernisation and expansion at a cost of Rs 26,264 crore. This is by far a massive industrial project ever in Andhra Pradesh, BJP MP G V L Narasimha Rao said in a statement here on Monday.
-
The National Green Tribunal has imposed a fine of Rs 25 crore to Hindustan Zinc Ltd, in connection with environmental violations at villages Agucha, Rampura, etc, Tehsil Hurd, District Bhilwada, Rajasthan covering nearly an area about 1,200 hectares of mining land.
-
Gujarat Industries Power Company Ltd (GIPL) on Monday reported a nearly nine per cent fall in its standalone net profit to Rs 27.91 crore for the December 2021 quarter, mainly due to lower revenues. The company had reported a standalone net profit of Rs 30.60 crore in the quarter ended on December 31, 2020, according to a BSE filing.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint.
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| BAJAJELEC | Quarterly Results | 08-Feb-22 | JKPAPER | Quarterly Results;General | 08-Feb-22 |
| BATAINDIA | Quarterly Results | 08-Feb-22 | J&KBANK | ESOP;Quarterly Results | 08-Feb-22 |
| EIDPARRY | Quarterly Results | 08-Feb-22 | JINDALSTEL | Quarterly Results | 08-Feb-22 |
| MOREPENLAB | Quarterly Results;General | 08-Feb-22 | TRANSCOR | Quarterly Results;General | 08-Feb-22 |
| HEIDELBERG | Quarterly Results | 08-Feb-22 | GODREJCP | Quarterly Results | 08-Feb-22 |
| NCC | Quarterly Results | 08-Feb-22 | BHARTIARTL | Audited Results;Quarterly Results | 08-Feb-22 |
| ESCORTS | Quarterly Results;General | 08-Feb-22 | GRANULES | Quarterly Results;Interim Dividend | 08-Feb-22 |
| GREAVESCOT | Quarterly Results | 08-Feb-22 | IGL | Quarterly Results | 08-Feb-22 |
| BORORENEW | Quarterly Results | 08-Feb-22 | JBMA | Quarterly Results | 08-Feb-22 |
| DYNAMATECH | Quarterly Results | 08-Feb-22 | REDINGTON | Quarterly Results | 08-Feb-22 |
| RANEHOLDIN | Quarterly Results | 08-Feb-22 | TAKE | Quarterly Results | 08-Feb-22 |
| TRANSPEK | Quarterly Results | 08-Feb-22 | KOLTEPATIL | Quarterly Results;General | 08-Feb-22 |
| ASTRAZEN | Quarterly Results | 08-Feb-22 | ONMOBILE | Quarterly Results | 08-Feb-22 |
| GOACARBON | Quarterly Results | 08-Feb-22 | RUPA | Quarterly Results | 08-Feb-22 |
| MUNJALSHOW | Quarterly Results | 08-Feb-22 | GUJGAS | Quarterly Results | 08-Feb-22 |
| RATNAMANI | Quarterly Results | 08-Feb-22 | MGL | Quarterly Results;Interim Dividend | 08-Feb-22 |
| PRAJIND | Quarterly Results | 08-Feb-22 | ENDURANCE | Quarterly Results | 08-Feb-22 |
| MAYURUNIQ | Buy Back of Shares;Results | 08-Feb-22 | IRBINVIT | Quarterly Results | 08-Feb-22 |
| SAFARIND | Quarterly Results | 08-Feb-22 | ASTERDM | Quarterly Results | 08-Feb-22 |
| WANBURY | Quarterly Results | 08-Feb-22 | RITES | Quarterly Results | 08-Feb-22 |
| NMDC | Quarterly Results | 08-Feb-22 | IRCTC | Quarterly Results;Interim Dividend | 08-Feb-22 |
| GUJALKALI | Quarterly Results | 08-Feb-22 | SUVENPHAR | Quarterly Results;Interim Dividend | 08-Feb-22 |
| SHILPAMED | Quarterly Results | 08-Feb-22 | STOVEKRAFT | Quarterly Results | 08-Feb-22 |
| STERTOOLS | Quarterly Results | 08-Feb-22 | GLS | Quarterly Results | 08-Feb-22 |
| INDRAMEDCO | Quarterly Results | 08-Feb-22 | GINNIFILA | Quarterly Results | 08-Feb-22 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| 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 |
| NIITLTD | 08-Feb-22 | Interim Dividend – Rs. – 3.00 | BPCL | 10-Feb-22 | Interim Dividend – Rs. – 5.00 |
| PGHH | 08-Feb-22 | Interim Dividend – Rs. – 95.00 | CHOLAFIN | 10-Feb-22 | Interim Dividend – Rs. – 1.30 |
| SCHAEFFLER | 08-Feb-22 | Stock Split From Rs.10/- to Rs.2/- | DAAWAT | 10-Feb-22 | Interim Dividend – Rs. – 0.50 |
| AARTIDRUGS | 09-Feb-22 | Interim Dividend – Rs. – 1.00 | DHANUKA | 10-Feb-22 | Interim Dividend – Rs. – 8.00 |
| BEL | 09-Feb-22 | Interim Dividend – Rs. – 1.50 | EMAMILTD | 10-Feb-22 | Interim Dividend – Rs. – 4.00 |
| GILLETTE | 09-Feb-22 | Interim Dividend – Rs. – 33.00 | GMM | 10-Feb-22 | Interim Dividend – Rs. – 1.00 |
| GPTINFRA | 09-Feb-22 | Interim Dividend – Rs. – 1.50 | GRNLAMIND | 10-Feb-22 | Stock Split From Rs.5/- to Rs.1/- |
| IOC | 09-Feb-22 | Interim Dividend – Rs. – 4.00 | IRBINVIT | 10-Feb-22 | Income Distribution (InvIT) |
Disclosure in pursuance of Section 19 of SEBI (RA) Regulation 2014
Elite Wealth Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only information in making their investment decision and must exercise their own judgment before making any investment decision.
For analyst certification and other important disclosures, see the Disclosure Appendix, or go to www.elitewealth.in. Analysts employed by Elite Wealth Limited are registered/qualified as research analysts with SEBI in India.( SEBI Registration No.: INH100002300)
Disclosure Appendix
Analyst Certification (For Reports)
Israil Khan, Elite Wealth Limited, suhail@elitewealth.in
The analyst(s) certify that all of the views expressed in this report accurately reflect my/our personal views about the subject company or companies and its or their securities. I/We also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report. Unless otherwise stated, the individuals listed on the cover page of this report are analysts in Elite Wealth Limited.
As to each individual report referenced herein, the primary research analyst(s) named within the report individually certify, with respect to each security or issuer that the analyst covered in the report, that:
(1) all of the views expressed in the report accurately reflect his or her personal views about any and all of the subject securities or issuers; and
(2) no part of any of the research analyst’s compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed in the report.
For individual analyst certifications, please refer to the disclosure section at the end of the attached individual notes.
Research Excerpts
This note may include excerpts from previously published research. For access to the full reports, including analyst certification and important disclosures, investment thesis, valuation methodology, and risks to rating and price targets, please visit www.elitewealth.in.
Company-Specific Disclosures
Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting https://www.elitewealth.in, or emailing research@elitestock.com with your request. Elite Wealth Limited may screen companies based on Strategy, Technical, and Quantitative Research. For important disclosures for these companies, please e-mail research@elitestock.com.
Options related research:
If the information contained herein regards options related research, such information is available only to persons who have received the proper option risk disclosure documents. For a copy of the risk disclosure documents, please contact your Broker’s Representative or visit the OCC’s website at https://www.elitewealth.in
Other Disclosures
All research reports made available to clients are simultaneously available on our client websites. Not all research content is redistributed, e-mailed or made available to third-party aggregators. For all research reports available on a particular stock, please contact your respective broker’s sales person.
Ownership and material conflicts of interest Disclosure
Elite Wealth Limited policy prohibits its analysts, professionals reporting to analysts from owning securities of any company in the analyst’s area of coverage. Analyst compensation: Analysts are salary based permanent employees of Elite Wealth Limited. Analyst as officer or director: Elite Wealth Limited policy prohibits its analysts, persons reporting to analysts from serving as an officer, director, board member or employee of any company in the analyst’s area of coverage.
Country Specific Disclosures
India – For private circulation only, not for sale.
Legal Entities Disclosures
Mr. Ravinder Parkash Seth is the Managing Director of Elite Wealth Ltd (EWL, henceforth), having its registered office at Casa Picasso, Golf Course Extension, Near Rajesh Pilot Chowk, Radha Swami, Sector-61, Gurgaon-122001 Haryana, is a SEBI registered Research Analyst and is regulated by Securities and Exchange Board of India. Telephone:011-43035555, Facsimile: 011-22795783 and Website: www.elitewealth.in
EWL discloses all material information about itself including its business activity, disciplinary history, the terms and conditions on which it offers research report, details of associates and such other information as is necessary to take an investment decision, including the following:
1. Reports
a) EWL or his associate or his relative has no financial interest in the subject company and the nature of such financial interest;
(b) EWL or its associates or relatives, have no actual/beneficial ownership of one per cent. or more in the securities of the subject company, at the end of the month immediately preceding the date of publication of the research report or date of the public appearance;
(c) EWL or its associate or his relative, has no other material conflict of interest at the time of publication of the research report or at the time of public appearance;
2. Compensation
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) EWL or its associates have not managed or co-managed public offering of securities for the subject company in the past twelve months;
(c) EWL or its associates have not received any compensation for investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(d) EWL or its associates have not received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(e) EWL or its associates have not received any compensation or other benefits from the Subject Company or third party in connection with the research report.
3 In respect of Public Appearances
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) The subject company is not now or never a client during twelve months preceding the date of distribution of the research report and the types of services provided by EWL