Morning-Outlook-Feature-Image
Outlook

NIFTY:

NIFTY opened at 17279.85 with a gap up of 66 points. The index recorded its intraday high at 17306.45 a few ticks above the opening prices and then went into consolidation. That consolidation eventually broke on the downside and prices fall further to record its intraday low at 17043.65 and finds support there. Prices then started moving on the upside. Another decline came and that fizzled out quickly and prices kept on moving up to finally close at 17266.75 near its intraday highs with a gain of 53.15 points or0.31% up. METAL and PHARMA outperformed today and closed with gains. MEDIA, IT, and REALTY led the bears today and closed with loss. BANKS and FMCG ended on a flat note.

We have been tracking a support level of around 17000. Today prices have held this level and bounced up. Moreover, a bullish Head & Should is visible on the 30 minutes timeframe chart with a neckline around 17280. Tomorrow we should look for a buying opportunity on a breakout. The idea is to wait till 09:30 AM and then look for a buying opportunity above 17320 or the high recorded in the first 15 minutes of trading {choose the highest one). Keep a stop of 110 points and a target of 250 points for this trade.

BANK NIFTY:

BANK NIFTY opened at 38176 with a gap up of 186 points. Prices recorded its intraday high at 38222.10 a few ticks above the opening tick. Prices then moved down, filled the gap and kept on moving down to record its intraday low at 37319.0S.Prices then takes a U turn and ralled towards its early morning highs. The index finally closed at 379SO without much of change. PSU BANKS have continued its outperformance and closed higher by 0.82%. PVT BANKS have also moved up today and ended with a gain of just 0.14%. Within the index, in terms of points, ICICI BANK contributed the highest while RBL BANK contributed the lowest.
Tomorrow, we should look for a buying opportunity on any sign of strength. The trade here is to buy above 382SO.Incase of a gap up above 382SO, buy above the first 1S minutes of high.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
JUBLFOOD 3240 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 3245 with a stop loss of 3200 and for the target of 3320.
IBULHSGFIN 197.4 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 197 with a stop loss of 202 and target  of 190.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
RELIANCE   2360 CE BUY 53 CMP 35 85 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
COROMANDEL.Feb 24 799.5 0.08 8.68 1315000 TATAPOWER.Feb 24 232.7 -7.71 20.05 1.5E+08
AUROPHARMA.Feb 24 649 0.08 0.37 14574000 IBULHSGFIN.Feb 24 198 -5.38 14.89 39680000
RAIN.Feb 24 227.75 0.11 2.48 6402500 GUJGASLTD.Feb 24 666 -3.67 3.99 2086250
M&M.Feb 24 832.05 0.12 4.48 12495000 ONGC.Feb 24 164.1 -3.56 4.32 38338300
COLPAL.Feb 24 1440.95 0.15 0.03 2538550 BHEL.Feb 24 55.7 -3.47 9.84 1.41E+08
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
BOSCHLTD.Feb 24 16055 0 -0.23 130000 HINDCOPPER.Feb 24 137.3 -3.34 -0.21 16309900
UPL.Feb 24 760.4 0.14 -0.16 28850900 DELTACORP.Feb 24 278.2 -1.83 -2.68 14547500
INDUSTOWER.Feb 24 253.55 0.18 -0.73 9102800 BEL.Feb 24 198.4 -1.44 -0.54 34333000
NIFTY.Feb 24 17256.65 0.22 -1.97 9757000 LAURUSLABS.Feb 24 524.75 -1.11 -0.51 4585500
ICICIBANK.Feb 24 792.05 0.37 -0.69 83443250 IDFCFIRSTB.Feb 24 46.65 -1.06 -0.25 1.46E+08

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Icici Lombard General In 1366.2 2.18 1016198 0 75.44 Nifty 50 17266.75 0.31 78081
Max Financial Services l 858.85 -1.2 398616 0 72.1 Nifty Bank 38028.45 0.09 78081
Petronet Lng Limited 216.45 2.1 6935599 0 65.55 Nifty it 34521.55 -0.29 78081
Hdfc Ltd. 2414.6 -0.56 6127473 0 64.02 Nifty Auto 11429.8 0.2 78084
Abbott India Limited 15562.6 -1.35 20754 0 63.33 Nifty Metal 5875.6 0.8 78084
Colgate Palmolive (india 1438.6 0.1 180086 0 61.93 India Vix 19.69 -3.67 78081
Hdfc Bank Ltd. 1461.85 -0.43 6990565 0 61.84 Nifty Media 2174.8 -1.03 78084
Axis Bank Limited 798.55 1.13 12300670 0 61.16 Nifty Fmcg 36765.95 0 78081
Hcl Technologies Ltd. 1161.95 0.4 3267641 0 60.91 Nifty Realty 464.25 -0.84 78084
Hindustan Unilever Ltd 2264.35 0.3 1190660 0 60.85 Nifty Pharma 13444.7 0.47 78081
Icici Bank Ltd. 792.5 0.78 14642455 0 60.6 Nifty Financial Services 17632.55 0.14 78084

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: RBI  Interest Rate Decision on 10th 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

  • Bajaj Electricals Ltd on Tuesday reported a decline of 50.94 per cent in its consolidated net profit to Rs 48.17 crore for the third quarter ended December 2021. Its total revenue from operations was down 12.02 per cent to Rs 1,319.81 crore during the quarter under review as against Rs 1,500.14 crore in the corresponding period of the previous fiscal.

  • Indian Railway Catering and Tourism Corporation (IRCTC) on Tuesday reported 168% jump in net profit at Rs 209 crore for the quarter ending December 31, 2021. It reported net profit of Rs 78 crore in the year-ago period. IRCTC’s Q3FY22 revenue rose 141% to Rs 540 crore as against Rs 224 crore in Q3FY21. The company declared an interim dividend of Rs 2 per share and fixed February 18 as the record date for the purpose of payment of interim dividend.

  • Bharti Airtel on Tuesday reported 3% decline in consolidated net profit attributable to owners at Rs 830 crore for the quarter ending December 31, 2021. It earned net profit of Rs 854 crore in the year-ago period. Airtel reported a 12.6% rise in third-quarter revenue, helped by recent tariff hikes and subscriber additions. The company’s consolidated revenue from operations for the quarter ended Dec. 31 climbed to Rs 29,867 crore from Rs 26,518 crore a year ago.

  • Abbott on Tuesday said it has tied up with various health-tech firms like BeatO, Sugar.fit, PharmEasy, GOQii, 1MG and Zyla for diabetes care. The company said it has also joined hands with Health, Healthifyme and Fitterfly under the initiative.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
3IINFOTECH Quarterly Results 09-Feb-22 LUMAXTECH General;Quarterly Results 09-Feb-22
ABAN Quarterly Results 09-Feb-22 NAVKARCORP Quarterly Results 09-Feb-22
ABBOTINDIA Quarterly Results 09-Feb-22 NUVOCO Quarterly Results 09-Feb-22
ACC Final Dividend;Audited Results 09-Feb-22 NYKAA Quarterly Results 09-Feb-22
AUROPHARMA Interim Dividend;Quarterly Results 09-Feb-22 PATELENG Quarterly Results 09-Feb-22
AXISCADES Quarterly Results 09-Feb-22 PETRONET Quarterly Results 09-Feb-22
BASF Quarterly Results 09-Feb-22 PGHL Quarterly Results 09-Feb-22
BERGEPAINT Quarterly Results 09-Feb-22 POWERGRID Interim Dividend;Quarterly Results 09-Feb-22
BHARATGEAR Quarterly Results 09-Feb-22 POWERINDIA Quarterly Results 09-Feb-22
BIRLACABLE Quarterly Results 09-Feb-22 PRESTIGE Quarterly Results 09-Feb-22
BOSCHLTD Quarterly Results 09-Feb-22 SAIL Quarterly Results 09-Feb-22
DCBBANK Quarterly Results 09-Feb-22 SANGHIIND Quarterly Results 09-Feb-22
ENGINERSIN Interim Dividend;Quarterly Results 09-Feb-22 SHARDA Quarterly Results 09-Feb-22
FDC General;Quarterly Results 09-Feb-22 SHYAMMETL Interim Dividend;Quarterly Results 09-Feb-22
FINCABLES Quarterly Results 09-Feb-22 SINDHUTRAD Quarterly Results 09-Feb-22
GMRINFRA Quarterly Results 09-Feb-22 SKFINDIA Quarterly Results 09-Feb-22
GOCLCORP Results;Scheme of Arrangement 09-Feb-22 SMSPHARMA Quarterly Results 09-Feb-22
GUFICBIO Quarterly Results 09-Feb-22 SOLARA Quarterly Results 09-Feb-22
GULFOILLUB General;Quarterly Results 09-Feb-22 SPENCER Quarterly Results 09-Feb-22
HEG Quarterly Results 09-Feb-22 SUNCLAYLTD Quarterly Results 09-Feb-22
HITECHGEAR Quarterly Results 09-Feb-22 TALBROAUTO Interim Dividend;Quarterly Results 09-Feb-22
IBULHSGFIN Quarterly Results 09-Feb-22 TATAPOWER Quarterly Results 09-Feb-22
IGARASHI Quarterly Results 09-Feb-22 TI Quarterly Results 09-Feb-22
KANORICHEM Quarterly Results 09-Feb-22 TNPETRO Quarterly Results;General 09-Feb-22
KIRLOSENG Interim Dividend;Quarterly Results 09-Feb-22 TTKHEALTH Quarterly Results 09-Feb-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
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 FORBESCO 10-Feb-22 Spin Off
GPTINFRA 09-Feb-22 Interim Dividend – Rs. – 1.50 GMM 10-Feb-22 Interim Dividend – Rs. – 1.00
IOC 09-Feb-22 Interim Dividend – Rs. – 4.00 GRNLAMIND 10-Feb-22 Stock  Split From Rs.5/- to Rs.1/-
ORIENTCEM 09-Feb-22 Interim Dividend – Rs. – 0.7500 IRBINVIT 10-Feb-22 Income Distribution (InvIT)
SUNPHARMA 09-Feb-22 Interim Dividend – Rs. – 7.00 JUBLINGREA 10-Feb-22 Interim Dividend – Rs. – 2.50
ALKEM 10-Feb-22 Interim Dividend – Rs. – 30.00 KPITTECH 10-Feb-22 Interim Dividend – Rs. – 1.2500
APCOTEXIND 10-Feb-22 Interim Dividend – Rs. – 2.00 KRETTOSYS 10-Feb-22 Bonus issue 1:10
BAJAJCON 10-Feb-22 Interim Dividend – Rs. – 4.00 KRETTOSYS 10-Feb-22 Stock  Split From Rs.10/- to Rs.1/-
BPCL 10-Feb-22 Interim Dividend – Rs. – 5.00 MASFIN 10-Feb-22 Interim Dividend – Rs. – 1.2500
CHOLAFIN 10-Feb-22 Interim Dividend – Rs. – 1.30 NACLIND 10-Feb-22 Interim Dividend – Rs. – 0.1500
DAAWAT 10-Feb-22 Interim Dividend – Rs. – 0.50 NITINSPIN 10-Feb-22 Interim Dividend – Rs. – 1.50

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