Morning-Outlook-Feature-Image

NIFTY:

the NIFTY opened at 18230.65 without any gap. The index initially consolidated and broke on the downside after recording its intraday high at 18243 in its initial trades. Prices have seen a sharp intraday decline and then found support around 18050. A pullback started and prices went above 18100. The index again started falling and recorded its intraday low at 18020.60. Prices consolidated towards the end and finally closed at 18042.95 near its day’s lows with a loss of 189.60 points or 1.04% down. All the sectoral Indices have declined today and ended with a loss. METAL and REALTY led the bears today and lost over 2% followed by MEDIA, OIL GAS, and BANK which ended with a loss of over 1%. We have taken a trade on the long side around 18150 and for today, we have suggested staying long with a stop at 18150 and a target at 18550, Prices moved down and hit the stop loss. We exited with no profit and no loss. The short-term trend is sideways. A narrow trading range is now visible on the daily timeframe chart with support around 18000 and resistance around 18250. Prices have been moving within the range for the last six trading days. A breakout in either direction may give us a directional move. For he time being, we should avoid trading the index and wait for a breakout.

BANK NIFTY:

The BANK NIFTY opened at 43417.50 with a gap down of just 31 points. Initially, the index went higher but soon found string resistance and started drifting downwards after recording its intraday high at 43578.40. The index kept on sliding lower throughout the day and went below 43000, A pullback afterwards failed and the index again went down to record its intraday low at 42858.65. Prices have finally closed at 42979.60 with a loss of 469 points. PSU and PVT BANKS both indices have performed almost the same today, saw a sharp intraday decline, and closed lower by 1.83% & 1.01% respectively Within the index, in terms of points, HDFC BANK contributed the highest on the downside followed by SBIN. We have taken a trade on the long side around 42150 and for today, we have suggested staying with a stop at 43100 and a target at 44450. Prices moved down and hit the stop loss so we exited this trade with a loss of almost 50 points We were expecting a sharp move today and that came on the downside as the index recorded a downtrend day. Yesterday, we have mentioned a pattern of Bullish Head & Shoulder which did not get confirmed today. Moreover, a narrow trading range is now visible on the daily timeframe chart with support around 42500 and resistance around 43500. The short-term trend is sideways. Avoid trading the index as far as prices are moving within this range.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE
DR REDDY 4253.50 BUY The stock has given a breakout on the intraday as well as the daily chart. The stock can be bought at 4261.80 with a stop loss of 4233 and a target of 4312.
AMBUJA CEM 518.85 SELL The stock has about to give a breakdown on the intraday as well as the daily chart. The stock can be sold at 517.35 with a stop loss of 522.75 and a target of 506.50.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
NAUKRI (INFO EDGE) 3700 PE BUY 75 CMP 50 125 BREAKDOWN
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
HAVELLS.23.01 Jan 1151.85 1.7 2.13 4693000 HINDALCO.23.01 Jan 459.95 -4.38 6.52 21648200
HINDPETRO.23.01 Jan 242.35 1.34 0.05 20309400 BALRAMCHIN.23.01 Jan 388.05 -4.16 3.13 7475200
GNFC.23.01 Jan 578.4 1.27 6.25 7497100 JSWSTEEL.23.01 Jan 737.5 -4 1.86 23899050
SHREECEM.23.01 Jan 23875.05 1.26 3.64 264625 VEDL.23.01 Jan 309.1 -3.86 14.63 39826000
IPCALAB.23.01 Jan 859.85 0.76 2.8 1643850 TRENT.23.01 Jan 1304.7 -3.63 5.11 4107600
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
DIVISLAB.23.01 Jan 3441.8 0.83 -0.23 2590800 ABCAPITAL.23.01 Jan 148.6 -4.1 -2.33 35915400
IBULHSGFIN.23.01 Jan 145.75 -3.73 -0.66 44632000
NMDC.23.01 Jan 122.3 -3.28 -1.11 35586000
INTELLECT.23.01 Jan 438.15 -2.76 -0.42 4540000
L&TFH.23.01 Jan 88.8 -2.42 -0.29 61156172

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Abbott India Limited 21937.3 1.18 19674 0 87.16 Nifty50 18042.95 -1.04 88611
Hcl Technologies Ltd. 1036.6 -0.46 1219170 0 78.28 Niftybank 42958.8 -1.07 88614
Torrent Pharma Ltd. 1548 0.21 115416 0 77.05 Nifty it 28677.8 -0.98 88614
Infosys Limited 1494.8 -1.82 7059590 0 71.54 India Vix 15.2 5.7 88614
Oracle Fin Serv Soft Ltd 3014.4 0.5 53699 0 71.07 Nifty Fmcg 43723.55 -0.66 88614
Britannia Ind Ltd. 4235 -0.16 216319 0 68.6 Nifty Pharma 12622.75 -0.15 88611
Au Small Finance Bank Li 641.6 -1.45 1242852 0 68.37 Nifty Realty 427.7 -2.05 88614
Hdfc Bank Ltd. 1610.05 -1.79 5175800 0 65.76 Nifty Auto 12512.05 -0.81 88611
Abb Limited 2705.2 0.59 313367 0 65.6 Nifty Metal 6705.85 -2.11 88611
Hdfc Ltd. 2625.7 -1.46 2125220 0 65.29 Nifty Financial Services 19007 -0.98 88611

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: Nikkei Services PMI (Dec) on 4th  January, 2023

INR: CPI (YoY) (Dec) on 12th  January, 2023

 USD: JOLTs Job Openings (Nov) on 4th  January, 2023

USD: ISM Manufacturing PMI (Dec) on 4th  January, 2023

NEWS UPDATES

  • Benchmark indices ended lower on January 4 amid selling across the sectors.At Close, the Sensex was down 636.75 points or 1.04% at 60,657.45, and the Nifty was down 189.50 points or 1.04% at 18,043. About 1154 shares have advanced, 2230 shares declined, and 135 shares are unchanged.

  • The Union Cabinet on January 4 approved an initial outlay of Rs 19,744 crore for the National Hydrogen Mission with an aim to make India a global manufacturing hub of this clean source of energy.

  • Shares of Orient Cement Ltd. jumped nearly 13% after it refuted reports about Adani Group buying a stake in the company from its founders.

  • The year 2022 saw India reach a milestone of 1 million electric vehicle sales for the first time since the country started manufacturing battery-powered vehicles. This was a twofold growth over the previous year, and came after customers shrugged scars of EVs catching fire in early 2022.

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

BOARD MEETINGS

Company Name Purpose Meeting Date Company Name Purpose Meeting Date
ACHYUT Preferential Issue of shares 05-Jan-23 INFRATRUST General 06-Jan-23
ARCFIN Increase in Authorised Capital;General 05-Jan-23 INOXGREEN General 06-Jan-23
GRANDMA Audited Results 05-Jan-23 KHAITANLTD General 06-Jan-23
HPIL General 05-Jan-23 OISL Quarterly Results;General 06-Jan-23
JANUSCORP Increase in Authorised Capital 05-Jan-23 PBAINFRA General 06-Jan-23
KPEL Stock  Split;General 05-Jan-23 PRECWIRE Preferential Issue of shares 06-Jan-23
MONIND General 05-Jan-23 RPPINFRA Preferential Issue of shares 06-Jan-23
PACIFICI Right Issue of Equity Shares 05-Jan-23 SATIN General 06-Jan-23
RGRL Increase in Authorised Capital;Preferential Issue of shares;General 05-Jan-23 SURYALA General 06-Jan-23
RHIM General 05-Jan-23 MIRCH Increase in Authorised Capital;Issue Of Warrants;General 07-Jan-23
SAMINDUS General 05-Jan-23 NIHARINF Preferential Issue of shares;General 07-Jan-23
SERA General 05-Jan-23 SMGOLD Quarterly Results 07-Jan-23
SICAPIT General 05-Jan-23 GALACTICO Quarterly Results 08-Jan-23
SUPREMEINF Quarterly Results;General 05-Jan-23 EMERALD Quarterly Results 09-Jan-23
SYMBIOX Right Issue of Equity Shares;Rights Issue 05-Jan-23 GAL Quarterly Results 09-Jan-23
VISHWARAJ General 05-Jan-23 GGL Quarterly Results 09-Jan-23
VLSFINANCE Buy Back of Shares;General 05-Jan-23 JBFIND Quarterly Results 09-Jan-23
DRA General 06-Jan-23 QRIL Increase in Authorised Capital;Preferential Issue of shares;General 09-Jan-23
DRONACHRYA General 06-Jan-23 RANJEET Preferential Issue of shares 09-Jan-23
GETALONG General 06-Jan-23 TASHIND Quarterly Results 09-Jan-23
INDOWIND Quarterly Results 06-Jan-23 TCS Interim Dividend;Audited Results;Quarterly Results 09-Jan-23
INDUSFINL Quarterly Results 06-Jan-23 TIJARIA Quarterly Results 09-Jan-23

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
GLCL 06-Jan-23 Bonus issue 1:1 INDOWIND 13-Jan-23 Right Issue of Equity Shares
JAGRAN 06-Jan-23 Buy Back of Shares SOFTSOL 13-Jan-23 Buy Back of Shares
PIONDIST 06-Jan-23 Amalgamation VISHNU 13-Jan-23 Stock  Split From Rs.10/- to Rs.2/-
RAMASTEEL 06-Jan-23 Bonus issue 4:1 NEWMKTADV 16-Jan-23 E.G.M.
SPLPETRO 06-Jan-23 Stock  Split From Rs.4/- to Rs.2/- TCS 16-Jan-23 Interim Dividend
OMKAR 09-Jan-23 E.G.M. SKL 17-Jan-23 E.G.M.
VIVANTA 09-Jan-23 E.G.M. KPIGREEN 18-Jan-23 Bonus issue 1:1
RAJNISH 10-Jan-23 Stock  Split From Rs.2/- to Rs.1/- HCLTECH 19-Jan-23 Interim Dividend
JMCPROJECT 11-Jan-23 Amalgamation DDIL 20-Jan-23 Stock  Split From Rs.10/- to Rs.1/-
WELENT 11-Jan-23 Special Dividend – Rs. – 7.5000 ANGELONE 24-Jan-23 Interim Dividend
INFRATRUST 12-Jan-23 Income Distribution (InvIT) ZENSARTECH 03-Feb-23 Interim Dividend

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