NIFTY:
The NIFTY opened at 17896.60 with a gap down of just 33 points. The index remained weak for the first few minutes of trading and recorded its intraday low at 17853.80.Prices have bounced up and went above 17900. The index then started a consolidation process for the whole afternoon which eventually broke on the upside. The index again rallied this time with more pace and went above 18000 to record its intraday high at 18034.10. Prices finally dosed at 18015.85 with a gain of 86 points or 0.48% up. All the sectoral indices have closed higher today except FMCG and PHARMA which ended with marginal losses. IT and REALTY outperformed today by gaining more than 1% followed by AUTO. The short-term trend is up now as the index closed above 17900 resistance for two consecutive trading sessions. Moreover, the bias is also bullish and the volatility is down which also gives support to the bulls. We now have a support level of around 17800. Immediate resistance is visible around 18100. Tomorrow, we should look for a buying opportunity on any sign of strength
BANK NIFTY:
The BANK NIFTY opened at 41674.60 with a gap up of just 49 points. Initially, prices moved down but found support around 41500 and turned up. The index turned around after crossing above the opening tick, saw a decline, and recorded its intraday low at 41455.60. Prices have seen a sharp rally towards the end, recorded its intraday high at 41795.45, and finally closed at 41756.70 with a gain of 131 points. PSU and PVT BANK, both indices have performed almost the same today, saw an intraday rally, and closed higher by 0.48% &0.18% respectively. Within the index, in terms of points, ICICI BANK contributed the highest on the upside while HDFC ABNK contributed the lowest. It was a volatile day, where prices have seen alternate bouts of buying and selling but at the end bulls take control and the index ended near its day’s-highs with gains. The intraday range was again narrow. The short-term trend is still sideways. We have identified a narrow trading range inside 41000-41800. The trading range remained intact for the 9th trading day. However, prices have come close to its resistance level. We may see a breakout here.
TECHNICAL PICKS
| COMPANY NAME | CMP | B/S | RATIONALE |
| KOTAK BANK | 1785.50 | BUY | The stock has given a breakout on the intraday as well as the daily chart. The stock can be bought at 1790 with a stop loss of 1777 and a target of 1817. |
| MCX | 1348.55 | SELL | The stock has given a breakdown on the intraday as well as the daily chart. The stock can be sold below 1344 with a stop loss of 1364 and a target of 1313. |
DERIVATIVE PICKS
| Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks | |||
| EICHER MOTOR | 3400 CE | BUY | 22 | ABOVE 26 | 17 | 41 | BREAKOUT | |||
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| TORNTPOWER.23.02 Feb | 505.5 | 10.92 | 49.12 | 4809000 | BHARATFORG.23.02 Feb | 836 | -4.59 | 14.36 | 8840000 | |
| TECHM.23.02 Feb | 1071 | 5.49 | 9.94 | 15791400 | MCX.23.02 Feb | 1354.95 | -3.81 | 19.45 | 1174400 | |
| APOLLOHOSP.23.02 Feb | 4491 | 5.21 | 21.53 | 1900375 | INDIGO.23.02 Feb | 1961 | -3.67 | 25.77 | 4011900 | |
| PFC.23.02 Feb | 149.05 | 3.58 | 3.69 | 53301400 | BATAINDIA.23.02 Feb | 1476.95 | -1.73 | 16.01 | 2779150 | |
| BOSCHLTD.23.02 Feb | 17682 | 3.35 | 1.15 | 158900 | RBLBANK.23.02 Feb | 164.05 | -1.32 | 3.61 | 26295000 | |
| Short Covering | Long Unwinding | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| IBULHSGFIN.23.02 Feb | 116.5 | 5.1 | -1.45 | 38828000 | METROPOLIS.23.02 Feb | 1304 | -1.41 | -0.56 | 1000800 | |
| EICHERMOT.23.02 Feb | 3326 | 4.75 | -2.34 | 3180275 | PNB.23.02 Feb | 50.7 | -1.27 | -0.72 | 205776000 | |
| ABFRL.23.02 Feb | 256.6 | 3.11 | -2.79 | 18460000 | ZEEL.23.02 Feb | 215.15 | -0.83 | -1.01 | 77625000 | |
| AMBUJACEM.23.02 Feb | 346.5 | 2.88 | -0.06 | 63696600 | NTPC.23.02 Feb | 165.85 | -0.42 | -0.17 | 68354400 | |
| BALRAMCHIN.23.02 Feb | 368.3 | 2.85 | -2.37 | 6712000 | ZYDUSLIFE.23.02 Feb | 471.45 | -0.39 | -1.57 | 7916400 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Infosys Limited | 1597.05 | Nifty50 | 18015.85 | 0.48 | 101037 | |||||
| Wipro Ltd | 407.4 | Niftybank | 41731.05 | 0.2 | 100971 | |||||
| Reliance Industries Ltd | 2431.95 | Nifty it | 30934.35 | 1.13 | 100971 | |||||
| Zee Entertain. Enterp.lt | 214.5 | India Vix | 12.86 | -4.39 | 103404 | |||||
| Larsen & Toubro Limited | 2175.05 | Nifty Fmcg | 45799.2 | -0.39 | 100971 | |||||
| Acc Limited | 1852.15 | Nifty Pharma | 12237.1 | -0.1 | 100971 | |||||
| Itc Ltd. | 382.2 | Nifty Realty | 405.55 | 1.3 | 100971 | |||||
| Hcl Technologies Ltd. | 1132.9 | Nifty Auto | 13235.2 | 0.98 | 100971 | |||||
| Hindustan Unilever Ltd | 2548.45 | Nifty Metal | 5789.65 | 0.47 | 100971 | |||||
| Tata Steel Limited | 110.3 | Nifty Financial Services | 18636.95 | 0.22 | 100971 | |||||
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: FX Reserves, USD 17th February, 2023
INR: GDP Quarterly (YoY) (Q3) 28th February, 2023 |
USD: Building Permits (Jan) on 16th February, 2023
USD: Initial Jobless Claims on 16th February, 2023 |
NEWS UPDATES
-
Benchmark indices ended higher with Nifty above 18,000. At Close, the Sensex was up 242.83 points or 0.40% at 61,275.09, and the Nifty was up 86 points or 0.48% at 18,015.80. About 1722 shares have advanced, 1657 shares declined, and 129 shares are unchanged.
-
Billionaire Anil Agarwal’s commodities giant has slashed net debt by $2 billion in the current financial year as it seeks to soothe investor concern over its liquidity and ability to repay upcoming obligations.
-
State Bank of India (SBI) has hiked its marginal cost lending rate (MCLR) by 10 basis points across tenures with effect from February 15. According to the SBI’s website, overnight MCLR increased to 7.95 percent from 7.85 percent, and one-month and three-month MCLR rose to 8.10 percent from 8.00 percent.
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The Indian government could consider reducing taxes on some items such as maize and fuel in response to the central bank’s recommendations to help rein in climbing retail inflation, two sources with knowledge of the discussions told Reuters.
Source: Economic Times, Indian Express, Business Today, Livemint, Business Standard, Bloomberg Quint
BOARD MEETINGS
| Company Name | Purpose | Meeting Date | Company Name | Purpose | Meeting Date |
| AGIOPAPER | Preferential Issue of shares | 16-Feb-23 | GOENKA | General | 18-Feb-23 |
| AISHWARYA | Increase in Authorised Capital;Preferential Issue of shares | 16-Feb-23 | SOMICONV | General | 18-Feb-23 |
| BLUECLOUDS | Preferential Issue of shares | 16-Feb-23 | DBL | General | 20-Feb-23 |
| NESTLEIND | Audited Results;Final Dividend | 16-Feb-23 | KUBERJI | Quarterly Results | 20-Feb-23 |
| NEWINFRA | General;Quarterly Results | 16-Feb-23 | PARSVNATH | Quarterly Results | 20-Feb-23 |
| SATIN | General | 16-Feb-23 | SHARDFI | General;Quarterly Results | 20-Feb-23 |
| SCHAEFFLER | Audited Results | 16-Feb-23 | TRIVIKRAMA | General | 20-Feb-23 |
| CRISIL | Audited Results;Final Dividend | 17-Feb-23 | ELANTAS | Dividend;Quarterly Results | 21-Feb-23 |
| GROWINGTON | Bonus issue;Increase in Authorised Capital | 17-Feb-23 | HARISH | General | 21-Feb-23 |
| MUFIN | Stock Split | 17-Feb-23 | UJJIVANSFB | Interim Dividend | 21-Feb-23 |
| OKPLA | Issue Of Warrants;Preferential Issue of shares | 17-Feb-23 | GOLDLEG | Quarterly Results | 22-Feb-23 |
| PRATIK | General;Preferential Issue of shares | 17-Feb-23 | MAHINDCIE | Audited Results;Final Dividend | 22-Feb-23 |
| PULSRIN | General | 17-Feb-23 | VISAKAIND | Stock Split | 22-Feb-23 |
| RAYMOND | Employees Stock Option Plan | 17-Feb-23 | KSB | Audited Results;Final Dividend | 23-Feb-23 |
| RRMETAL | General | 17-Feb-23 | SANOFI | Audited Results;Dividend | 23-Feb-23 |
| SYMBIOX | Increase in Authorised Capital;General | 17-Feb-23 | VIVANTA | General;Stock Split | 23-Feb-23 |
| VALECHAENG | Quarterly Results | 17-Feb-23 | ECOM | General | 24-Feb-23 |
| VLSFINANCE* | General | 17-Feb-23 | SPICEJET | Quarterly Results | 24-Feb-23 |
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| CHAMBLFERT | 16-Feb-23 | Interim Dividend – Rs. – 4.5000 | JBCHEPHARM | 17-Feb-23 | Interim Dividend – Rs. – 8.5000 |
| MAANALU | 16-Feb-23 | Interim Dividend – Rs. – 1.0000 | JKPAPER | 17-Feb-23 | Interim Dividend – Rs. – 4.0000 |
| SHBAJRG | 16-Feb-23 | E.G.M. | KCDGROUP | 17-Feb-23 | Stock Split From Rs.5/- to Rs.1/- |
| SHREECEM | 16-Feb-23 | Interim Dividend – Rs. – 45.0000 | KIRLFER | 17-Feb-23 | Interim Dividend – Rs. – 2.5000 |
| ALKEM | 17-Feb-23 | Interim Dividend – Rs. – 15.0000 | MINDACORP | 17-Feb-23 | Interim Dividend – Rs. – 0.4000 |
| ALKEM | 17-Feb-23 | Special Dividend – Rs. – 25.0000 | NHPC | 17-Feb-23 | Interim Dividend – Rs. – 1.4000 |
| AUROPHARMA | 17-Feb-23 | Interim Dividend – Rs. – 3.0000 | NIRLON | 17-Feb-23 | Interim Dividend – Rs. – 15.0000 |
| BALKRISIND | 17-Feb-23 | Interim Dividend – Rs. – 4.0000 | PAGEIND | 17-Feb-23 | Interim Dividend – Rs. – 60.0000 |
| BECTORFOOD | 17-Feb-23 | Interim Dividend – Rs. – 1.2500 | POBS | 17-Feb-23 | Interim Dividend – Rs. – 2.0000 |
| BLS | 17-Feb-23 | Interim Dividend – Rs. – 0.5000 | RITES | 17-Feb-23 | Interim Dividend – Rs. – 6.0000 |
| CANTABIL | 17-Feb-23 | Interim Dividend – Rs. – 2.0000 | SAFARIND | 17-Feb-23 | Interim Dividend – Rs. – 1.5000 |
| CGCL | 17-Feb-23 | Right Issue of Equity Shares | SJVN | 17-Feb-23 | Interim Dividend – Rs. – 1.1500 |
| COROMANDEL | 17-Feb-23 | Interim Dividend – Rs. – 6.0000 | SKYGOLD | 17-Feb-23 | Interim Dividend – Rs. – 1.0000 |
| DATAINFRA | 17-Feb-23 | Income Distribution (InvIT) | SUNDARMFIN | 17-Feb-23 | Interim Dividend – Rs. – 12.0000 |
| DCW | 17-Feb-23 | Interim Dividend – Rs. – 0.2000 | AASTAFIN | 20-Feb-23 | E.G.M. |
| FSL | 17-Feb-23 | Interim Dividend – Rs. – 3.5000 | AKCAPIT | 20-Feb-23 | Interim Dividend – Rs. – 6.0000 |
| HEROMOTOCO | 17-Feb-23 | Interim Dividend – Rs. – 65.0000 | BDL | 20-Feb-23 | Interim Dividend – Rs. – 8.1500 |
| INOXLEISUR | 17-Feb-23 | Amalgamation | ESABINDIA | 20-Feb-23 | Interim Dividend – Rs. – 28.0000 |
| IOLCP | 17-Feb-23 | Interim Dividend – Rs. – 4.0000 | GALAXYSURF | 20-Feb-23 | Interim Dividend – Rs. – 18.0000 |
| IRCON | 17-Feb-23 | Interim Dividend – Rs. – 1.8000 | GRSE | 20-Feb-23 | Interim Dividend – Rs. – 5.500 |
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