NIFTY:
The NIFTY opened at 17731.45 with a gap up of 83 points. The index initially moved lower towards 17500 support but soon found intraday support and bounced up. Prices recorded its intraday low at 17537.55 in the first hour of trading and then saw an upside move that lasted till the end. However, the index could not cross above the early morning highs at 17735.70 which was also the intraday high. The index finally closed at 17662.15 with a gain of just 13.20 points or 0.07% up. MEDIA outperformed today by ending over 2% gains followed by METAL and AUTO which gains over 1% OIL GAS underperformed today and ended lower by more than 1% followed by IT and PHARMA. Prices have been holding it so far. The short-term trend is down. It will be sideways if the index closes above 17800. We are in a news-driven environment. These support and resistance levels have less value. The INDIA VIX, a benchmark index for volatility has seen a decline today but still trading around level 17 which is moderately high. We may see an increase in it tomorrow morning. We will plan our trades after the budget. Till then avoid trading the index.
BANK NIFTY:
The NIFTY opened at 40563.85 with a gap up of 96 points. The index initially went down, filled the gap and soon found support. Prices have bounced up after recording its intraday low at 40167.70 and rallied sharply. The index kept on rising for the rest of the day and finally closed at 40759.60 with a gain of 292 points. PSU BANK has outperformed today, saw a sharp intraday rally, and closed higher by 4.28%. PVT BANK has also moved up today but ended with a gain of just 0.41%. Within the index, in terms of points, SBIN contributed the highest on the upside while HDFC BANK contributed the lowest. As mentioned yesterday, “Support is visible around 39500 while resistance is visible around 41000. These support and resistance levels have no value in the current environment since we have two big news events lined up in this week. One is Union Budget 2023 and another is FOMC Meeting. The short-term trend is still down and it will be sideways once the index closed above 41000 resistance. The volatility may increase tomorrow. It is wise to stay away from the market in such an environment. We should trade after the news event
TECHNICAL PICKS
| COMPANY NAME | CMP | B/S | RATIONALE |
| BHEL | 78.40 | BUY | The stock has given a breakout on the intraday as well as the daily chart. The stock can be bought above 78.80 with a stop loss of 77.60 and a target of 80.70. |
| DIVIS LAB | 3315.30 | SELL | The stock has given a breakdown on the intraday as well as the daily chart. The stock can be sold below 3308.90 with a stop loss of 3328.85 and a target of 3268.75. |
DERIVATIVE PICKS
| Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| SUN PHARMA | 1070 CE | SELL | 12.95 | BELOW 10.35 | 14.20 | 4.60 | BREAKDOWN |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| BEL.23.02 Feb | 95.35 | 7.26 | 1.86 | 107752800 | LAURUSLABS.23.02 Feb | 333.5 | -2.88 | 7.36 | 9761400 | |
| BANKBARODA.2302Feb | 169.45 | 5.94 | 2.75 | 107154450 | TECHM.23.02 Feb | 1022 | -2.09 | 4.16 | 12568200 | |
| SHREECEM.23.02 Feb | 23733 | 5.83 | 0.37 | 294750 | TCS.23.02 Feb | 3384.6 | -2.06 | 4.25 | 10320625 | |
| RECLTD.23.02 Feb | 122.7 | 5.78 | 7.77 | 56792000 | BAJFINANCE.23.02 Feb | 5935 | -2.04 | 4.48 | 6159500 | |
| CANFINHOME.2302Feb | 574.1 | 5.64 | 15.03 | 3769350 | WHIRLPOOL.23.02 Feb | 1399.4 | -1.72 | 39.09 | 1012550 | |
| Short Covering | Long Unwinding | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| CHAMBLFERT.23.02Feb | 312.55 | 7.98 | -2.46 | 6010500 | ABBOTINDIA.23.02 Feb | 21055.05 | -0.47 | -1.65 | 38160 | |
| BHEL.23.02 Feb | 79.1 | 6.39 | -3.32 | 82887000 | MFSL.23.02 Feb | 831.3 | -0.75 | -0.3 | 3432650 | |
| PNB.23.02 Feb | 54.15 | 6.07 | -1.32 | 223072000 | COFORGE.23.02 Feb | 4352.3 | -0.96 | -6.46 | 901500 | |
| IDEA.23.02 Feb | 7.15 | 5.15 | -1.26 | 550130000 | ||||||
| TATAPOWER.23.02 Feb | 214.75 | 4.53 | -1.53 | 100335375 | ||||||
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Shriram Finance Limited | 1286.6 | 3.44 | 1210700 | 0 | 82.41 | Nifty50 | 17662.15 | 0.07 | 87102 | |
| Piind | 2997.35 | 1.74 | 437101 | 0 | 79.2 | Niftybank | 40655.05 | 0.66 | 87108 | |
| Max Financial Services l | 835.65 | 0.13 | 1018073 | 0 | 78.9 | Nifty it | 29740.35 | -1.18 | 87108 | |
| Hcl Technologies Ltd. | 1122.2 | -1.11 | 4582858 | 0 | 74.97 | India Vix | 16.88 | -4.69 | 87105 | |
| Balkrishna Ind. Ltd | 2221.3 | 2.16 | 239814 | 0 | 73.78 | Nifty Fmcg | 44456.9 | 0.53 | 87108 | |
| Maruti Suzuki India Ltd | 8895.3 | 0.89 | 643670 | 0 | 73.69 | Nifty Pharma | 12360.25 | -0.99 | 87108 | |
| Ipca Laboratories Ltd. | 849.85 | -1 | 174004 | 0 | 72.96 | Nifty Realty | 411.55 | 1.12 | 87108 | |
| Kotak Mahindra Bank Limi | 1731 | 0.28 | 4385384 | 0 | 72.02 | Nifty Auto | 13323.9 | 1.89 | 87111 | |
| Power Grid Corporation o | 216.65 | 2.27 | 15748160 | 0 | 71.71 | Nifty Metal | 6468.4 | 1.52 | 87111 | |
| Reliance Industries Ltd | 2353.85 | -0.25 | 10472167 | 0 | 71.06 | Nifty Financial Services | 18095 | 0.02 | 87111 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: Nikkei S&P Global Manufacturing PMI (Jan) on 1st February, 2023
INR: Union Budget 2023-24 on 1st February, 2023 |
USD: ISM Manufacturing PMI (Jan) on 1st February, 2023
USD: Crude Oil Inventories on 1st February, 2023 |
NEWS UPDATES
- Benchmark indices ended on positive note in yet another volatile session on January 31.At Close, the Sensex was up 49.49 points or 0.08% at 59,549.90, and the Nifty was up 13.20 points or 0.07% at 17,662.20. About 2368 shares have advanced, 1026 shares declined, and 131 shares are unchanged.
- Follow-On Public Offering (FPO) of Adani Enterprises had got bids for 50.85 million shares against an offer size of 45.5 million shares, representing a 1.12 times subscription on January 31, the third and final day of bidding.
- The Union government’s debt-to-GDP ratio has increased only modestly over the last 15 years, while that of other countries has increased substantially over the same period, according to the Economic Survey 2022-2023.
- Sun Pharmaceutical Industries on January 31 recorded a 5 percent YoY growth in consolidated profit of Rs 2,166 crore for the quarter ended December 31, 2022, as against Rs 2,059 crore a year back. However, the net profit was down 4 percent against Rs 2,262 crore reported in the September quarter.
Source: Economic Times, Indian Express, Business Today, Livemint, Business Standard, Bloomberg Quint
BOARD MEETINGS
| Company Name | Purpose | Meeting Date | Company Name | Purpose | Meeting Date |
| AJANTPHARM | Quarterly Results | 01-Feb-23 | MERCTRD | Quarterly Results | 01-Feb-23 |
| AMARJOTHI | Quarterly Results | 01-Feb-23 | MUDUNURU | Quarterly Results | 01-Feb-23 |
| APLLTD | General;Quarterly Results | 01-Feb-23 | NELCAST | Quarterly Results | 01-Feb-23 |
| AROGRANITE | Quarterly Results | 01-Feb-23 | OASISEC | Quarterly Results | 01-Feb-23 |
| ARTEMISMED | Quarterly Results | 01-Feb-23 | OISL | General;Quarterly Results | 01-Feb-23 |
| ASHOKLEY | Quarterly Results | 01-Feb-23 | PHCAP | Interim Dividend;Quarterly Results | 01-Feb-23 |
| BANDARAM | Quarterly Results | 01-Feb-23 | PRSMJOHNSN | Quarterly Results | 01-Feb-23 |
| BHAGIL | General;Quarterly Results | 01-Feb-23 | RAMCOSYS | General;Quarterly Results | 01-Feb-23 |
| BIJHANS | Quarterly Results;General | 01-Feb-23 | RAYMOND | Quarterly Results | 01-Feb-23 |
| BRITANNIA | Quarterly Results | 01-Feb-23 | RDBRIL | Quarterly Results | 01-Feb-23 |
| CAMEXLTD | Quarterly Results | 01-Feb-23 | RDBRL | General;Quarterly Results | 01-Feb-23 |
| CFEL | General;Quarterly Results | 01-Feb-23 | REDINGTON | Quarterly Results | 01-Feb-23 |
| CITL | Quarterly Results | 01-Feb-23 | RELTD | Quarterly Results | 01-Feb-23 |
| ENIL | General;Quarterly Results | 01-Feb-23 | RICHUNV | Quarterly Results | 01-Feb-23 |
| GFLLIMITED | Quarterly Results | 01-Feb-23 | RPGLIFE | Quarterly Results | 01-Feb-23 |
| GILLETTE | Interim Dividend;Quarterly Results | 01-Feb-23 | RSSOFTWARE | Quarterly Results;Audited Results | 01-Feb-23 |
| GUJCOTEX | Quarterly Results | 01-Feb-23 | SADHNA | Quarterly Results | 01-Feb-23 |
| HARIGOV | Quarterly Results | 01-Feb-23 | SANTETX | Quarterly Results | 01-Feb-23 |
| HGIND | Quarterly Results | 01-Feb-23 | STERTOOLS | Quarterly Results | 01-Feb-23 |
| HINDCOPPER | Quarterly Results | 01-Feb-23 | SUCROSA | Quarterly Results | 01-Feb-23 |
| HYBRIDFIN | Quarterly Results | 01-Feb-23 | SUMMITSEC | Quarterly Results | 01-Feb-23 |
| IDFC | Interim Dividend;Quarterly Results | 01-Feb-23 | SUNDRMFAST | Quarterly Results | 01-Feb-23 |
| INDCEMCAP | Quarterly Results | 01-Feb-23 | SURANASOL | Quarterly Results | 01-Feb-23 |
| INTEGRAEN | Quarterly Results | 01-Feb-23 | TATACHEM | Quarterly Results | 01-Feb-23 |
| JAYATMA | General;Quarterly Results | 01-Feb-23 | TIHIL | Quarterly Results | 01-Feb-23 |
| JINDCAP | Quarterly Results | 01-Feb-23 | TILAK | Quarterly Results | 01-Feb-23 |
| JUBLFOOD | General;Quarterly Results | 01-Feb-23 | TIMKEN | Quarterly Results | 01-Feb-23 |
| KAYA | Quarterly Results | 01-Feb-23 | TTIL | Issue Of Warrants | 01-Feb-23 |
| KRIFILIND | Quarterly Results | 01-Feb-23 | UTIAMC | General;Quarterly Results | 01-Feb-23 |
| LAXMIMACH | Quarterly Results | 01-Feb-23 | WHIRLPOOL | Quarterly Results | 01-Feb-23 |
| MAHLOG | General;Quarterly Results | 01-Feb-23 | WORL | Quarterly Results | 01-Feb-23 |
| MASFIN | Interim Dividend;General;Quarterly Results | 01-Feb-23 | YOGI | Quarterly Results | 01-Feb-23 |
| MEDINOV | General;Quarterly Results | 01-Feb-23 | ZFCVINDIA | Quarterly Results | 01-Feb-23 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| ACGL | 01-Feb-23 | Interim Dividend – Rs. – 2.5000 | ZENSARTECH | 03-Feb-23 | Interim Dividend – Rs. – 1.5000 |
| DCMSHRIRAM | 01-Feb-23 | Interim Dividend – Rs. – 5.8000 | CONCOR | 06-Feb-23 | Interim Dividend – Rs. – 4.0000 |
| MASTEK | 01-Feb-23 | Interim Dividend – Rs. – 7.0000 | MINDSPACE | 06-Feb-23 | Income Distribution RITES |
| MFL | 01-Feb-23 | Interim Dividend – Rs. – 2.5000 | SIYSIL | 06-Feb-23 | Interim Dividend – Rs. – 3.0000 |
| THANGAMAYL | 01-Feb-23 | Interim Dividend – Rs. – 6.0000 | SONACOMS | 06-Feb-23 | Interim Dividend – Rs. – 1.2800 |
| ZENITHEXPO | 01-Feb-23 | E.G.M. | APCOTEXIND | 07-Feb-23 | Interim Dividend – Rs. – 2.0000 |
| ACCELYA | 02-Feb-23 | Interim Dividend – Rs. – 35.0000 | EDVENSWA | 07-Feb-23 | Right Issue of Equity Shares |
| SAREGAMA | 02-Feb-23 | Interim Dividend – Rs. – 3.0000 | IGL | 07-Feb-23 | Interim Dividend – Rs. – 3.0000 |
| SHUKRAPHAR | 02-Feb-23 | Right Issue of Equity Shares | IIFL | 07-Feb-23 | Interim Dividend – Rs. – 4.0000 |
| SPRAYKING | 02-Feb-23 | Right Issue of Equity Shares | KIRLPNU | 07-Feb-23 | Interim Dividend – Rs. – 2.5000 |
| TANAA | 02-Feb-23 | Interim Dividend – Rs. – 2.0000 | KPEL | 07-Feb-23 | Interim Dividend – Rs. – 0.2500 |
| TVSMOTOR | 02-Feb-23 | Interim Dividend – Rs. – 5.0000 | ROUTE | 07-Feb-23 | Interim Dividend – Rs. – 6.0000 |
| VIPIND | 02-Feb-23 | Interim Dividend – Rs. – 2.0000 | SHARDACROP | 07-Feb-23 | Interim Dividend – Rs. – 3.0000 |
| COFORGE | 03-Feb-23 | Interim Dividend – Rs. – 19.0000 | SRF | 07-Feb-23 | Interim Dividend – Rs. – 3.6000 |
| CONTROLPR | 03-Feb-23 | Interim Dividend – Rs. – 4.0000 | TCI | 07-Feb-23 | Interim Dividend – Rs. – 2.5000 |
| EMBASSY | 03-Feb-23 | Income Distribution RITES | AARTIDRUGS | 08-Feb-23 | Interim Dividend – Rs. – 1.0000 |
| EQUITAS | 03-Feb-23 | Amalgamation | ANURAS | 08-Feb-23 | Interim Dividend – Rs. – 0.6000 |
| IIFLSEC | 03-Feb-23 | Interim Dividend – Rs. – 3.0000 | COALINDIA | 08-Feb-23 | Interim Dividend |
| KEI | 03-Feb-23 | Interim Dividend – Rs. – 3.0000 | HIL | 08-Feb-23 | Interim Dividend – Rs. – 20.0000 |
| MOTILALOFS | 03-Feb-23 | Interim Dividend – Rs. – 7.0000 | KAJARIACER | 08-Feb-23 | Interim Dividend – Rs. – 6.0000 |
| NTPC | 03-Feb-23 | Interim Dividend – Rs. – 4.2500 | MOIL | 08-Feb-23 | Interim Dividend |
| SGRL | 03-Feb-23 | Right Issue of Equity Shares | PGHH | 08-Feb-23 | Interim Dividend |
| STEELCAS | 03-Feb-23 | Interim Dividend – Rs. – 1.8000 | POWERGRID | 08-Feb-23 | Interim Dividend |
| SUNCLAYLTD | 03-Feb-23 | Interim Dividend – Rs. – 59.0000 | RADIANTCMS | 08-Feb-23 | Interim Dividend – Rs. – 1.0000 |
| TORNTPHARM | 03-Feb-23 | Interim Dividend – Rs. – 14.0000 | RAILTEL | 08-Feb-23 | Interim Dividend |
| VAIBHAVGBL | 03-Feb-23 | Interim Dividend – Rs. – 1.5000 | SHANTIGEAR | 08-Feb-23 | Interim Dividend – Rs. – 3.0000 |
| VEDL | 03-Feb-23 | Interim Dividend – Rs. – 12.5000 | SUNPHARMA | 08-Feb-23 | Interim Dividend |
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