NIFTY AND NIFTY BANK HAS SEEN A SHARP RALLY AFTER THREE DAYS OF DECLINE

NIFTY:

The NIFTY opened at 17952.55 with a gap up of 94 points. The index initially moved higher after recording its intraday low at 17936.15 in its initial trades. Prices crossed above 18100 and then started facing resistance. The index turned down after recording its intraday high at 18141.40 and found support around 18000. The Index bounced up from there, saw a sharp rally that lasted till the end, and again moved above 18100. Prices have finally dosed at 1810120 with a gain of 241.75 points or 1.35% up. All the sectoral indices have closed higher today led by IT which ended with a gain of 2.83%. AUTO, METAL, and OIL GAS also did well today and gained over 1% followed by BANK and PHARMA. The short-term trend is sideways again as the index closes above the 18000 level. On the daily timeframe chart, a wide trading range is clearly visible with support around 17800 and resistance around 18250. For carry-forward trades, we need to wait for prices to come near the boundaries of this wide trading range. We will plan our trade then. Till then, avoid trading the index.

BANK NIFTY:

The BANK NIFTY opened at 42404.85 with a gap up of 186. The index moved further on the upside after recording its intraday low at 42186.55 in its initial trades. The index saw a sharp rally and recorded its intraday high at 42716.80. Prices then saw a decline and again an upside move which lasted till the end. The index finally closed at 42563.50 with a gain of 345 points. PSU and PVT BANK both indices have performed almost the same today saw a sharp rally, and closed higher by 1.14% &0.93% respectively. Within the index, in terms of points, AXIS BANK contributed the highest on the upside followed by INDUSIND BANK. On the daily timeframe chart, the index is moving inside the support around 41500 and resistance around 43500. This range is relatively wide and within this range, we should prefer trading on an intraday basis only. The short-term trend is sideways again after one day of a sharp rellef rally. The last four trading days were wide so it is possible that the next few days may be narrow and choppy As of now, we should avoid trading the Index for the next couple of days.

TECHNICAL PICKS

DERIVATIVE PICKS

TOP DELIVERY PERCENTAGE

UPCOMING ECONOMIC DATA

NEWS UPDATES

• India’s benchmark stock indices ended 1% higher on Monday tracking the gain in Asian and U.S. stocks. Key economic data from the U.S. showed that its economy might be cooling, leading investors to believe in a possible softer stance by the Federal Reserve. The S&P BSE Sensex ended 845 points, or 1.41%, higher at 60,747.31 while the NSE Nifty 50 gained 242 points, or 1.35%, to close at 18,101.20.

• ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corporation (ONGC), has re-taken a 20 per cent stake in the Sakhalin-1 oil and gas fields in the far east region of Russia, an official said on Monday.

• The government’s divestment of stake in IDBI Bank Ltd. is likely to have received at least four expressions of interest, two people in the know said on the condition of anonymity. Emirates NBD, Sumitomo Mitsui Banking Corp. and Prem Watsa’s Fairfax Financial are likely to have submitted EOIs, the two people said.

• Torrent Investments, which is fray for Anil Ambani-promoted Reliance Capital, has challenged lenders’ proposal to hold a second round of auction, according to a report by the Economic Times.

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

BOARD MEETINGS

Company Name	Purpose	Meeting Date	Company Name	Purpose	Meeting Date
AARSHYAM	Quarterly Results	10-Jan-23	AARTECH	General	11-Jan-23
ATHARVENT	General;Quarterly Results	10-Jan-23	ALSTONE	Quarterly Results	11-Jan-23
EARUM	Increase in Authorised Capital;Rights Issue	10-Jan-23	AML	General	11-Jan-23
EASUN	General	10-Jan-23	BAJGLOB	Quarterly Results	11-Jan-23
EXCEL	General;Quarterly Results	10-Jan-23	BAZELINTER	Employees Stock Option Plan;Increase in Authorised Capital;General;Preferential Issue of shares	11-Jan-23
GGPL	General;Quarterly Results	10-Jan-23	BNL	Quarterly Results	11-Jan-23
GISOLUTION	Quarterly Results	10-Jan-23	CAPFIN	General;Quarterly Results	11-Jan-23
GMPL	General	10-Jan-23	GORANIN	Quarterly Results	11-Jan-23
MAGNUM	Issue Of Warrants	10-Jan-23	MAHALXSE	General	11-Jan-23
MARSONS	Quarterly Results	10-Jan-23	MARKOLINES	Rights Issue	11-Jan-23
PRERINFRA	Quarterly Results	10-Jan-23	NATIONSTD	Quarterly Results	11-Jan-23
QUESTCAP	Quarterly Results	10-Jan-23	RESPONSINF	General	11-Jan-23
RLF	Quarterly Results	10-Jan-23	RITESHIN	General	11-Jan-23
SIGACHI	Preferential Issue of shares	10-Jan-23	SEL	Quarterly Results	11-Jan-23
VISAGAR	Quarterly Results	10-Jan-23	UNIAUTO	General	11-Jan-23
5PAISA	General;Quarterly Results	11-Jan-23	VEL	Quarterly Results	11-Jan-23

CORPORATE ACTION

Company Name	Ex-Date	Purpose	Company Name	Ex-Date	Purpose
RAJNISH	10-Jan-23	Stock  Split From Rs.2/- to Rs.1/-	TCS	16-Jan-23	Interim Dividend
JETFREIGHT	11-Jan-23	Right Issue of Equity Shares	SKL	17-Jan-23	E.G.M.
JMCPROJECT	11-Jan-23	Amalgamation	KPIGREEN	18-Jan-23	Bonus issue 1:1
PACIFICI	11-Jan-23	Right Issue of Equity Shares	HCLTECH	19-Jan-23	Interim Dividend
WELENT	11-Jan-23	Special Dividend – Rs. – 7.5000	DDIL	20-Jan-23	Stock  Split From Rs.10/- to Rs.1/-
INFRATRUST	12-Jan-23	Income Distribution (InvIT)	ANGELONE	24-Jan-23	Interim Dividend
INDOWIND	13-Jan-23	Right Issue of Equity Shares	GOTHIPL	24-Jan-23	Interim Dividend
RADIOCITY	13-Jan-23	Scheme of Arrangement	HAVELLS	25-Jan-23	Interim Dividend
SOFTSOL	13-Jan-23	Buy Back of Shares	PBAINFRA	27-Jan-23	E.G.M.
VISHNU	13-Jan-23	Stock  Split From Rs.10/- to Rs.2/-	BANARBEADS	30-Jan-23	Interim Dividend
NEWMKTADV	16-Jan-23	E.G.M.	ZENSARTECH	03-Feb-23	Interim Dividend

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