NIFTY:
The NIFTY opened at 17811.60 with a big gap up of 149 points. The index initially moved further on the upside towards 18000 but faced resistance before reaching there. Prices have recorded its intraday high at 17972.20, saw a steep fall of more than 500 points, and went below 17500. The index recorded its intraday low at 17353.40. The NIFTY has seen some recovery in the last hour of trading and finally closed at 17616.30 with a loss of 45.85 points or 0.26% down. FMCG outperformed today and ended with a gain of 1.13% followed by IT which gained 0.93% METAL underperformed today and ended lower by more 4% followed by MEDIA and OIL GAS. The trend is still down. We have been tracking a support level of around 17500 and a resistance level of around 17800. The index did break both levels today but ended within this range. The INDIA VIX, a benchmark index for volatility, has seen a decline today but is still trading around level 17 which is moderately high. After a wide range day today, the next couple of days may be choppy and narrow.
BANK NIFTY:
The BANK NIFTY opened at 41115 with a big gap up of 356 points. The index initially went up till the afternoon and then saw a sharp decline after recording its intraday high at 42015.65. Prices have seen a steep fall till the end, recorded its intraday low at 39490.50, and finally closed at 40499.25 with a loss of 260 points. PSU BANK has underperformed today, saw a sharp intraday decline, and closed lower by more than 5%. PVT BANK has also moved down today but ended with a loss of just 0.09%. Within the index, in terms of points, ICICI BANK contributed the highest on the upside while SBIN contributed the lowest. BANK NIFTY traded very volatile on a budget day. The index moved in a wide range today. Initially, prices have gone up but erased all the gains in the second half and ended on a negative note. The index closed within a trading range with support around 39500 and resistance around 41000. After today’s sharp move, it is possible that the index may move narrow and choppy. We should observe the price action for the next couple of days and then plan our trades accordingly. The trend is down but the bias is sideways. Wait for a clear sense of direction.
TECHNICAL PICKS
| COMPANY NAME | CMP | B/S | RATIONALE |
| INFY | 1551.10 | BUY | The stock has given a breakout on the intraday as well as the daily chart. The stock can be bought above 1555.75 with a stop loss of 1542.45 and a target of 1582.45. |
| HAL | 2364.35 | SELL | The stock has given a breakdown on the intraday as well as the daily chart. The stock can be sold below 2338.10 with a stop loss of 2386.90 and a target of 2240.65. |
DERIVATIVE PICKS
| Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| HAL | 2400 CE | SELL | 76.50 | CMP | 115 | 22.50 | BREAKDOWN |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| INDHOTEL.23.02 Feb | 326.5 | 7.21 | 4.3 | 29888000 | ADANIENT.23.02 Feb | 2190 | -26.67 | 7.19 | 16662750 | |
| CHOLAFIN.23.02 Feb | 754.55 | 5.92 | 24.94 | 11110000 | ADANIPORTS.23.02 Feb | 507.35 | -17.66 | 4.45 | 69703125 | |
| JINDALSTEL.23.02 Feb | 612 | 3.96 | 5.57 | 21620000 | ICICIPRULI.23.02 Feb | 400.55 | -12.23 | 21.12 | 15223500 | |
| DIXON.23.02 Feb | 2795 | 3.39 | 5.98 | 947875 | HDFCLIFE.23.02 Feb | 517 | -11.44 | 59.71 | 22101200 | |
| APOLLOTYRE.23.02 Feb | 331.9 | 2.52 | 18.34 | 12015500 | MFSL.23.02 Feb | 747.85 | -10.67 | 33.05 | 4434950 | |
| Short Covering | Long Unwinding | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| GUJGASLTD.23.02 Feb | 473.95 | 2.82 | -4.52 | 4200000 | AMBUJACEM.23.02 Feb | 334 | -17.16 | -0.98 | 83178000 | |
| POLYCAB.23.02 Feb | 2993 | 2.03 | -2.07 | 853500 | HINDCOPPER.23.02 Feb | 118.6 | -4.39 | -0.29 | 21518400 | |
| TATASTEEL.23.02 Feb | 122.25 | 1.24 | -0.57 | 167013000 | ZEEL.23.02 Feb | 221.3 | -3.02 | -0.93 | 77520000 | |
| PIDILITIND.23.02 Feb | 2326.9 | 1.19 | -0.89 | 2522000 | INTELLECT.23.02 Feb | 430 | -2.93 | -0.98 | 4343000 | |
| BIOCON.23.02 Feb | 239.8 | 1.14 | -0.17 | 26325800 | PVR.23.02 Feb | 1658 | -2.37 | -2.51 | 2529505 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Syngene | 566.45 | 0.74 | 2446363 | 0 | 80.08 | Nifty50 | 17616.3 | -0.26 | 91680 | |
| Icici Lombard General In | 1125.35 | -0.39 | 657740 | 0 | 79.11 | Niftybank | 40513 | -0.35 | 91680 | |
| Nestleind | 19089.85 | 0.38 | 68795 | 0 | 77.57 | Nifty it | 30018.25 | 0.93 | 91680 | |
| Hdfc Ltd. | 2661.7 | 1.48 | 4406327 | 0 | 76.69 | India Vix | 16.78 | -0.59 | 91680 | |
| Sbi Life Insurance Compa | 1109.4 | -9.03 | 8470232 | 0 | 75.85 | Nifty Fmcg | 44958.3 | 1.13 | 91680 | |
| Asian Paints Limited | 2743.75 | 0.66 | 1176872 | 0 | 75.31 | Nifty Pharma | 12355.8 | -0.04 | 91680 | |
| Container Corp Of India | 611.35 | -2.72 | 3147820 | 0 | 74.36 | Nifty Realty | 407.7 | -0.94 | 91680 | |
| Alkem | 3030.45 | 0.64 | 31174 | 0 | 74.15 | Nifty Auto | 13206.85 | -0.88 | 91680 | |
| Kotak Mahindra Bank Limi | 1744.7 | 0.79 | 3651940 | 0 | 74.09 | Nifty Metal | 6177.05 | -4.5 | 91680 | |
| Bharti Airtel Limited | 769.1 | -0.16 | 4472974 | 0 | 73.75 | Nifty Financial Services | 18084.8 | -0.06 | 91680 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: Nikkei Services PMI (Jan) 03rd February, 2023
INR: FX Reserves, USD 03rd February, 2023 |
USD: Fed Interest Rate Decision 02nd February, 2023
USD: Initial Jobless Claims 02nd February, 2023 |
NEWS UPDATES
-
Indian stock benchmarks ended mixed on February 01st Nifty down 45.90 points or 0.26% at 17,616.30 and Sensex up 158.18 points or 0.27% at 59,708.08. About 1241 shares have advanced, 2193 shares declined, and 106 shares are unchanged. ITC, ICICI Bank, JSW Steel, Tata Steel and Tata Consumer Products were among the top gainers on the Nifty, while losers were Adani Enterprises, Adani Ports, HDFC Life, SBI Life Insurance and Bajaj Finserv.
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Budget 2023: Govt. cut FY24 subsidy spends by 28% on food, fertilizer and fuel. Expenditure on food, fertilisers and petroleum—the government’s largest revenue expense after interest payments—is expected at Rs 3.74 lakh crore for FY24, 28% lower than the revised estimates for the ongoing financial year.
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Adani Group stocks came under pressure again on February 1 as Credit Suisse halts margin loans on Adani bonds with stocks locked at lower circuits. Adani Green Energy Limited was quoting at Rs 1,114.00, down Rs 110.05, or 8.99 percent Adani Total Gas was quoting at Rs 1,901.65, down Rs 211.25, or 10.00 percent.
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The finance minister provided the much-awaited relief to taxpayers by raising slabs. The surcharge on those earning between Rs 50 lakh and Rs 1 crore from 37% to 25%. The new tax regime will be the default choice, but citizens can still opt for the old tax regime.
Source: Economic Times, Indian Express, Business Today, Livemint, Business Standard, Bloomberg Quint
BOARD MEETINGS
| Company Name | Purpose | Meeting Date | Company Name | Purpose | Meeting Date |
| 3IINFOTECH | General;Quarterly Results | 02-Feb-23 | BSOFT | Quarterly Results | 02-Feb-23 |
| AAVAS | Quarterly Results | 02-Feb-23 | CERA | General;Quarterly Results | 02-Feb-23 |
| ABCAPITAL | Quarterly Results | 02-Feb-23 | CHANDNIMACH | Quarterly Results | 02-Feb-23 |
| ABHIFIN | Quarterly Results | 02-Feb-23 | CHENFERRO | Quarterly Results | 02-Feb-23 |
| ADMANUM | Quarterly Results | 02-Feb-23 | CHOKSI | Quarterly Results | 02-Feb-23 |
| ADORFO | General;Quarterly Results | 02-Feb-23 | CLEAN | Interim Dividend;Quarterly Results | 02-Feb-23 |
| AEGISLOG | Quarterly Results | 02-Feb-23 | COROMANDEL | Interim Dividend;Quarterly Results | 02-Feb-23 |
| AMBITION | Quarterly Results | 02-Feb-23 | CROMPTON | Quarterly Results | 02-Feb-23 |
| AMS | Quarterly Results | 02-Feb-23 | CSL | Quarterly Results;Stock Split | 02-Feb-23 |
| APLAPOLLO | Quarterly Results | 02-Feb-23 | DABUR | Quarterly Results | 02-Feb-23 |
| APOLLOTYRE | Quarterly Results | 02-Feb-23 | DANUBE | Quarterly Results | 02-Feb-23 |
| APTUS | Quarterly Results | 02-Feb-23 | DBCORP | Quarterly Results | 02-Feb-23 |
| ASIANTILES | Quarterly Results | 02-Feb-23 | DEEPAKFERT | Quarterly Results | 02-Feb-23 |
| BAJAJELEC | Quarterly Results | 02-Feb-23 | DHINDIA | General;Quarterly Results | 02-Feb-23 |
| BERGEPAINT | Quarterly Results | 02-Feb-23 | ECLERX | Quarterly Results | 02-Feb-23 |
| BIOGEN | General;Quarterly Results | 02-Feb-23 | ESCORTSFIN | General;Quarterly Results | 02-Feb-23 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| ACCELYA | 02-Feb-23 | Interim Dividend – Rs. – 35 | STEELCAS | 03-Feb-23 | Interim Dividend – Rs. – 1.80 |
| SAREGAMA | 02-Feb-23 | Interim Dividend – Rs. – 3 | SUNCLAYLTD | 03-Feb-23 | Interim Dividend – Rs. – 59 |
| SHUKRAPHAR | 02-Feb-23 | Right Issue of Equity Shares | TORNTPHARM | 03-Feb-23 | Interim Dividend – Rs. – 14 |
| SPRAYKING | 02-Feb-23 | Right Issue of Equity Shares | VAIBHAVGBL | 03-Feb-23 | Interim Dividend – Rs. – 1.50 |
| TANAA | 02-Feb-23 | Interim Dividend – Rs. – 2 | VEDL | 03-Feb-23 | Interim Dividend – Rs. – 12.50 |
| TVSMOTOR | 02-Feb-23 | Interim Dividend – Rs. – 5 | ZENSARTECH | 03-Feb-23 | Interim Dividend – Rs. – 1.50 |
| VIPIND | 02-Feb-23 | Interim Dividend – Rs. – 2 | CONCOR | 06-Feb-23 | Interim Dividend – Rs. – 4 |
| COFORGE | 03-Feb-23 | Interim Dividend – Rs. – 19 | MINDSPACE | 06-Feb-23 | Income Distribution RITES |
| CONTROLPR | 03-Feb-23 | Interim Dividend – Rs. – 4 | PATELENG | 06-Feb-23 | Right Issue of Equity Shares |
| EMBASSY | 03-Feb-23 | Income Distribution RITES | SIYSIL | 06-Feb-23 | Interim Dividend – Rs. – 3 |
| EQUITAS | 03-Feb-23 | Amalgamation | SONACOMS | 06-Feb-23 | Interim Dividend – Rs. – 1.28 |
| IIFLSEC | 03-Feb-23 | Interim Dividend – Rs. – 3 | APCOTEXIND | 07-Feb-23 | Interim Dividend – Rs. – 2 |
| KEI | 03-Feb-23 | Interim Dividend – Rs. – 3 | EDVENSWA | 07-Feb-23 | Right Issue of Equity Shares |
| MOTILALOFS | 03-Feb-23 | Interim Dividend – Rs. – 7 | IGL | 07-Feb-23 | Interim Dividend – Rs. – 3 |
| NTPC | 03-Feb-23 | Interim Dividend – Rs. – 4.25 | IIFL | 07-Feb-23 | Interim Dividend – Rs. – 4 |
| SGRL | 03-Feb-23 | Right Issue of Equity Shares | KIRLPNU | 07-Feb-23 | Interim Dividend – Rs. – 2.50 |
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