Morning-Outlook-Feature-Image
Outlook-09-12-2021

NIFTY:

NIFTY opened at 17315.25 with a gap up of 139 points. The index recorded its intraday low at 17308.95 within the first few minutes of trading and then rallied higher. The rally paused at 10:00 AM and then started a process of consolidation that lasted till the afternoon. Eventually, prices broke out and rallied again. The index recorded its intraday high a few ticks below 17500 at 17484.60 and then spent the rest of the day moving sideways. Prices have finally closed at 17469.75 with a gain of 293.05 points or 1.71% up. All the sectoral indices have participated in today’s rally and closed with gains. AUTO and MEDIA ended with a gain of more than 2% while IT and BANKS have registered nearly 2% gains.

Positive global cues helped NIFTY to open with a gap up. Furthermore, the RBI keeps an accommodative stance and policy rate unchanged. That helped prices to gain intraday and finally ended near 17500 resistance. The long-term trend is sideways while the long-term momentum bounced up from the weak zone and is now heading towards the strength zone. Momentums and trends are now contradicting each other. We should wait for them to come into sync. The short-term trend is sideways. Wait for a decisive breakout.

BANK NIFTY:

BANK NIFTY opened at 37052.75 with a big gap up of 431 points. The index first consolidated and recorded its intraday low at 36905.15.Prices have broken that consolidation on the upside and rallied higher. The rally was slow and took the prices to its intraday high at 37384.80. Prices have again consolidated in the last hour of trading and finally closed at 37264.95 with a gain of 643 points. PSU BANKS have outperformed today and closed higher by 2.57%. PVT BANKS have also seen a rally today and ended with a gain of 1.56%. Within the index, in terms of points, ICICIBANK contributed the highest while KOTAK BANK contributed the lowest.

We have also mentioned a possible trading range within 35300 – 36800 zones. That range broke decisively on the upside. That changes the short-term trend up which was sideways before. We still need a confirmation to confirm this breakout. A close above 36800 may confirm this breakout. Tomorrow is weekly F&O Expiry so we may get to see some volatile movement.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
BOSCH 16694 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 16340 and for the target of 17150.
PIDILITE 2232 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 2240 with a stop loss of 2200 and target  of 2285.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
IEX 270CE BUY 6 CMP 3 10 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
ICICIPRULI.Dec 30 590.95 0.16 4.71 4782000 WHIRLPOOL.Dec 30 1904.8 -5.85 143.46 1112000
LALPATHLAB.Dec 30 3582.8 0.17 4.69 518500 VEDL.Dec 30 337 -1.55 15.89 60546100
MGL.Dec 30 914.9 0.23 9.82 4281600 CONCOR.Dec 30 631.95 -1.13 11.87 6097263
PFIZER.Dec 30 4879.5 0.28 0.06 212625 GMRINFRA.Dec 30 42.75 -0.81 0.53 1.37E+08
APOLLOHOSP.Dec 30 5360.05 0.33 3.89 2136375 HDFCLIFE.Dec 30 690.2 -0.81 5.2 18520700
                                                                        Short Covering                                                                       Long Unwinding
GSPL.Dec 30 306 0.16 -0.73 1385500
CUMMINSIND.Dec 30 951.15 0.26 -1.6 1406400
COROMANDEL.Dec 30 762.3 0.48 -1.18 1363750
HAVELLS.Dec 30 1423 0.48 -0.6 3725000
ATUL.Dec 30 8972.5 0.5 -4.65 41550

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Colgate Palmolive (india 1458.55 0.96 367559 0 74.14 Nifty 50 17469.75 1.71 74007
Max Financial Services l 979.55 1.05 396861 0 74.14 Nifty Bank 37284.7 1.82 74007
Godrej Cons Products Ltd 902.75 0.38 794348 0 73.08 Nifty it 35959.05 1.95 74007
Hdfc Bank Ltd. 1553.8 1.84 7647098 0 69.74 India Vix 17.27 -6.45 74007
Icici Lombard General In 1445 2.02 774595 0 68.92 Nifty Fmcg 37659.95 1.3 74007
Crompton Greaves Consume 429.25 -0.59 2328403 0 66.16 Nifty Pharma 13433.85 1.51 74007
Voltas Ltd. 1253.1 -0.11 779432 0 66.08 Nifty Realty 509.05 1.72 74007
Asian Paints Limited 3108.5 2.58 1171466 0 65.45 Nifty Auto 11007.7 2.31 74007
Marico Limited 529.8 1.38 829926 0 65.14 Nifty Metal 5594.9 1.83 74007
Hdfc Ltd. 2853 1.26 1772153 0 64.23 Nifty Financial Services 18284.95 1.7 74007

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: Manufacturing Output (MoM) (Oct) on 10th December, 2021

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

•USD: Initial Jobless Claims on 9th December, 2021

•USD: CPI (YoY) (Nov) on 10th December, 2021

NEWS UPDATES

  • Exponent Energy, a technology startup dedicated to simplifying energy for EVs, has secured $5 million in a Pre-Series A round of funding from auto components supplier Motherson Group and existing investors. YourNest VC led the fresh round of funding while 3one4 Capital & AdvantEdge VC doubled down on their earlier investment.

  • Reliance BP Mobility Limited (RBML), operating under the brand name Jio-bp and The Mahindra Group, on Wednesday announced a non-binding MoU for exploring creation of EV products and services, alongside identifying synergies in low-carbon and conventional fuels. The MoU also covers evaluating charging solutions by Jio-bp for Mahindra vehicles including electric 3- and 4-wheelers, quadricycles and e-SCV (Small Commercial Vehicles – sub 4 ton). This would include captive fleets and last-mile mobility vehicles of Mahindra Group.

  • Alembic Pharmaceuticals on Wednesday said it has received approval from the US health regulator to market Selexipag tablets, used to treat high blood pressure, in the American market. The company said it has received tentative approval from the US Food and Drug Administration (USFDA) for its abbreviated new drug application (ANDA) for Selexipag tablets in strengths of 200 mcg, 400 mcg, 600 mcg, 800 mcg, 1,400 mcg, and 1,600 mcg.

  • ABB India has partnered with Indore Smart City Development Ltd (ISCDL) to deploy next-generation digital technology that ensures continuous power supply to homes and businesses.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ADROITINFO Reduction of Capital 09-Dec-21 STL General 10-Dec-21
BCG A.G.M.;Preferential Issue of shares 09-Dec-21 SUPRAP General 10-Dec-21
DHANADACO General 09-Dec-21 UNIVPHOTO Voluntary Delisting of Shares 10-Dec-21
LADIAMO A.G.M.;Audited Results 09-Dec-21 CRPRISK A.G.M.;Audited Results 11-Dec-21
MEL General 09-Dec-21 INDPRUD General 11-Dec-21
AASHKA Half Yearly Results 10-Dec-21 MAGANTR General 11-Dec-21
BHATIA General 10-Dec-21 SHANTAI General 11-Dec-21
BLUECLOUDS Preferential Issue of shares 10-Dec-21 SHUBHAM Quarterly Results 11-Dec-21
DYNAMIND General 10-Dec-21 CMMHOSP General 13-Dec-21
OBCL General 10-Dec-21 DANUBE Stock  Split 13-Dec-21
SHIVAMAUTO Rights Issue 10-Dec-21 GRNLAMIND Stock  Split 13-Dec-21
SINDHUTRAD Stock  Split 10-Dec-21 JINDALPHOT Voluntary Delisting of Shares 13-Dec-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
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 – Rs. – 18.0000
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
WEIZMANIND 09-Dec-21 Buy Back of Shares BNRSEC 16-Dec-21 Right Issue of Equity Shares

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