Morning-Outlook-Feature-Image

Morning-outlook-6dec

NIFTY:

The NIFTY opened at 18719.55 with a gap up of just 23 points. The index initially moved down after recording its intraday high at 18728.60 a few ticks above the opening price. A sharp decline came in the first hour of trading and prices recorded its intraday low at 18591.35. The index then bounced up and came close to the early morning highs but was not able to cross above. The NIFTY then started range bound trading which lasted till the end and the index finally closed at 18701.05 near its day’s high with a gain of just 4.95 points or 0.03% up. METAL outperformed today and closed with a gain of 1.87% followed by REALTY and BANK which ended with a gain of over half percent. IT underperformed today and ended with a loss of 0.52%. The NIFTY recorded its lifetime high at 18887.60 and then started moving down. The last swing low has been recorded at 18365.60.  We should wait for the one and till then avoid trading the index for carry forward trades.

BANK NIFTY:

The BANK NIFTY opened at 43269.35 with a gap up of 171 points. The index first moved down, filled the gap, and fall further to record its intraday low at 42985. Prices found support there and bounced up sharply. A modest rally came which lasted till the end. Prices have recorded its intraday high at 43372.5 and finally closed at 43321.30 with a gain of 223 points. PSU BANKS have outperformed today and closed with a gain of 1.20%. PVT BANKS have also moved up today and ended with a gain of 0.60% within the index, in terms of points, SBIN contributed the highest on the upside while AXIS BANK contributed the lowest. The short-term trend is still up. However, prices have been moving inside a narrow range. Since the range is very narrow inside the 42740 – 43340 zones, it should see a breakout soon one way or the other. Strong Support is visible around 42000. A close below this support may change the short-term trend to sideways. We should look for a buying opportunity only as far as prices are trading above this support level.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE
GAIL 93.15 BUY The stock is on the verge of giving a breakout on the intraday as well as the daily chart. The stock can be bought with a  stop loss of 92.95 and for the target of 93.7.
METRO POLISH 1451.35 SELL The stock is on the verge of giving a breakdown on the intraday as well as the daily chart. The stock can be sold below 1444.8 with a  stop loss of 1457.4 and for the target of 1419.55.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
DLF 420 CE BUY 14.65 CMP 11.35 19.90 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
M&MFIN.22.12 Dec 242.85 5.66 16.72 21248000 BHEL.22.12 Dec 88.35 -3.44 5.82 100989000
PEL.22.12 Dec 912.95 5.32 14.7 6073650 DALBHARAT.22.12 Dec 1892.15 -2.9 1.97 1291500
ABCAPITAL.22.12 Dec 159.2 4.36 8.19 37945800 TVSMOTOR.22.12 Dec 1022 -2.6 2.02 7438900
HINDALCO.22.12 Dec 483.1 4.16 13.13 21416150 HINDPETRO.22.12 Dec 231.55 -2.44 4.74 22482900
MANAPPURAM.22.12 Dec 124.7 3.7 6.17 39012000 GUJGASLTD.22.12 Dec 510 -1.86 0.73 5157500
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
IBULHSGFIN.22.12 Dec 147.5 2.68 -1.95 43492000 PERSISTENT.22.12 Dec 4285.05 -2.2 -9.95 471300
DELTACORP.22.12 Dec 235.2 2.26 -1.02 16258700 IDEA.22.12 Dec 8.25 -1.79 -0.37 510090000
PNB.22.12 Dec 55.5 2.12 -1.02 208960000 ICICIGI.22.12 Dec 1227.65 -1.42 -0.29 3852200
COALINDIA.22.12 Dec 232.9 1.97 -3.89 29479800 COFORGE.22.12 Dec 4189 -1.3 -3.25 585000
L&TFH.22.12 Dec 93.85 1.9 -0.51 60361936 LUPIN.22.12 Dec 774.5 -0.93 -1.81 6231350

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Mahindra & Mahindra Fina 241.15 5.31 17008391 0 30.04 Nifty50 18701.05 0.03 103584
Aditya Birla Capital Lim 158.65 4.58 18326577 0 33 Niftybank 43332.95 0.53 103515
Hindalco Ind Ltd. 481.2 4.36 14599958 0 32.1 Nifty it 30891.5 -0.52 103515
Piramal Enterprises 896.25 4.25 3472292 0 22.27 India Vix 13.73 2.1 103800
Manappuram Finance Limit 123.7 3.6 24534022 0 30.77 Nifty Fmcg 45151.15 -0.01 103515
Tata Steel Limited 115.85 3.44 96441799 0 48.35 Nifty Pharma 13052.9 -0.26 103515
Federal Bank Ltd. 137.3 3.04 14401826 0 44.22 Nifty Realty 466.55 0.69 103515
National Alum Co Ltd 80.2 2.82 27249138 0 37.77 Nifty Auto 13007.55 -0.3 103515
Ibulhsgfin 146.6 2.66 15640318 0 25.4 Nifty Metal 6819.75 1.87 103515
Delta Corp Limited 234.2 2.54 5956549 0 34.91 Nifty Financial Services 19297.3 0.25 103515

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: Interest Rate Decision on 7th December, 2022

INR: RBI MPC Meeting Minutes on 7th December, 2022

 USD: Crude Oil Inventories on 7th  December, 2022

USD: Initial Jobless Claims on 8th  December, 2022

NEWS UPDATES

  • Indian benchmark indices ended on flat note in the volatile session on December 5.At Close, the Sensex was down 33.90 points or 0.05% at 62,834.60, and the Nifty up 4.90 points or 0.03% at 18,701. About 2080 shares have advanced, 1401 shares declined, and 191 shares are unchanged.

  • Vodafone chief executive Nick Read is stepping down as chief executive of the group after four years in the top job, the telecoms group said Monday in a surprise announcement.

  • Dabur India on December 5 announced the resignation of Krishan Kumar Chutani, chief executive officer (CEO) of Dabur International. Raghav Agrawal will take over Chutani’s role.

  • Shriram Transport Finance Company, the largest financier of commercial vehicles, and Shriram City Union Finance, the largest two-wheeler financer and leader in micro, small and medium enterprise (MSME) lending, have been merged to form Shriram Finance

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

BOARD MEETINGS

Company Name Purpose Meeting Date Company Name Purpose Meeting Date
ARYAN General 06-Dec-22 RLFL General 07-Dec-22
BIKAJI General;Quarterly Results 06-Dec-22 SHAWGELTIN Interim Dividend 07-Dec-22
GRAUWEIL General 06-Dec-22 TAKE Quarterly Results 07-Dec-22
INTECH General 06-Dec-22 CAPFIN General 08-Dec-22
LELAVOIR General 06-Dec-22 MFSINTRCRP Quarterly Results 08-Dec-22
MAGANTR General 06-Dec-22 YASHINNO Scheme of Arrangement 08-Dec-22
MARKOLINES Right Issue of Equity Shares 06-Dec-22 ARISE General 09-Dec-22
MAXHEIGHTS General;Stock  Split 06-Dec-22 KCLINFRA Right Issue of Equity Shares;Rights Issue 09-Dec-22
PHARMAID General 06-Dec-22 SCC General 09-Dec-22
PTC Quarterly Results 06-Dec-22 VGUARD General 09-Dec-22
STARHFL General 06-Dec-22 VLL General 09-Dec-22
WARDINMOBI General 06-Dec-22 AGARWAL General 10-Dec-22
ACEMEN A.G.M.;Right Issue of Equity Shares;Increase in Authorised Capital;General;Preferential Issue of shares 07-Dec-22 QGO General 10-Dec-22
BRFL Quarterly Results 07-Dec-22 AKASHDEEP Stock  Split 12-Dec-22
CENTEXT General 07-Dec-22 ESHAMEDIA A.G.M. 12-Dec-22
DECCAN General 07-Dec-22 SHREESEC Stock  Split 16-Dec-22
FRSHTRP Buy Back of Shares 07-Dec-22 PIFL General 21-Dec-22
LUMAXIND General 07-Dec-22 COFORGE Interim Dividend;Quarterly Results 20-Jan-23

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
TRIVENIGQ 06-Dec-22 E.G.M. COSMOFIRST 13-Dec-22 Buy Back of Shares
ADVAIT 07-Dec-22 E.G.M. TELESYS 14-Dec-22 E.G.M.
HGS 07-Dec-22 Interim Dividend – Rs. – 5.0000 BAROEXT 15-Dec-22 E.G.M.
ALKALI 08-Dec-22 E.G.M. RCF 15-Dec-22 Final Dividend – Rs. – 2.5000
APTUS 08-Dec-22 Interim Dividend – Rs. – 2.0000 RCF 15-Dec-22 Interim Dividend – Rs. – 1.6000
BLS 08-Dec-22 Bonus issue 1:1 GLOSTERLTD 16-Dec-22 Bonus issue 1:1
CANFINHOME 08-Dec-22 Interim Dividend – Rs. – 1.5000 PRECWIRE 22-Dec-22 Bonus issue 1:2
VALENCIA 12-Dec-22 E.G.M. NATHIND 23-Dec-22 E.G.M.

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