Sharp Decline Brought Nifty Below 18000

COMPANY NAME	CMP	B/S	RATIONALE
ZYDUS LIFE	420.30	BUY	The stock has reversed with the W pattern at the bottom. The stock can be bought at 422 with a stop loss of 414 and a target of 444.
MCX	1577.70	SELL	The stock has given a breakdown on the intraday as well as the daily chart. The stock can be sold at 1531 with a stop loss of 1553 and a target of 1480.

Stock Name	Strike Price	Buy/Sell	CMP	Initiation	Stop Loss	Target	Remarks
AMBUJA CEM	480 PE	BUY	9.20	CMP	6	16	BREAKDOWN

TOP DELIVERY PERCENTAGE

UPCOMING ECONOMIC DATA

Domestic                                                                                                                                                  International
INR: Federal Fiscal Deficit (Nov) on 30th December, 2022 INR: Infrastructure Output (YoY) (Nov) on 30th December, 2022	USD: Pending Home Sales (MoM) (Nov) on 28th  December, 2022 USD: ISM Manufacturing PMI (Dec) on 4th  January, 2023

NEWS UPDATES

• Benchmark indices ended lower for the fourth consecutive session on December 23 with Nifty around 17,800.At Close, the Sensex was down 980.93 points or 1.61% at 59,845.29, and the Nifty was down 320.50 points or 1.77% at 17,806.80. About 468 shares have advanced, 3018 shares declined, and 61 shares are unchanged.

 

• stocks like Interglobe Aviation, Indian Hotels, Lemon Tree, Devyani International, Jubilant Foodworks, PVR and Inox fell between 2-5 percent as India stepped up measures to curb a fresh wave of infections as large gatherings are expected during Christmas and new year celebrations.

 

• RIL’s subsidiary Reliance Retail Ventures Ltd (RRVL) on December 22 announced the acquisition of Metro Cash and Carry India Pvt. Ltd after signing definitive agreements to acquire 100 percent of the unit for a cash consideration of Rs 2,850 crore.

 

• A Covid surge in China risks causing a shortage of active pharma ingredients and increase prices in India as domestic drugmakers source bulk of their requirement from the neighbouring nation. Indian companies are paying 12-25% higher prices for APIs like paracetamol, azithromycin, amoxicillin, and potassium clavulanate in the past few days, according to Sudarshan Jain, secretary general at Indian

 

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

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