Outlook

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)

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