MARKET OUTLOOK – 21 Feb, 2017

New Week Started With Some Gains; Market Shines With Metals And Infrastructure; Short Term Trend Changes To Up From Sideways; Buying Is Suggested On Dips And Consolidation Breakouts.

morning outlook

NIFTYNIFTY opens near 8820 near the yesterday close. Within first 15 min prices have seen a minor decline and then started an upside move. The index closes near its day high with a gain of 57 points.

It was an uptrend day in the index. Price action was very bullish as market closes near the highs. Every dip was a buying opportunity.

The index is now heading towards 9000. Prices are now at the verge of breakout from its previous swing high recorded at 8966 on September 7-2016.Prices may take out this high in current week.

We will discuss a long trade in NIFTY.

SHORT TERM

Day’s gain has given us a buying opportunity in the index. Idea is to wait for first 15 min. The high recorded in first 15 min will be our entry point for a long trade. If this trade executes then place a stop loss at 8800.

INTERMEDIATE TERM

We do not have any new trade for intermediate traders.

FOR INTRADAY TRADERS

NIFTY has seen an upside rally and closes higher. Short term trend is up here. This rally may continue for next few trading days.

Look to buy on any intraday dips and consolidation breakout.

BANK NIFTYBANK NIFTY opens with a minor gap down. The index traded very narrow today in a range of just 230 points and closes above 20600 with a gain of more than 125 points.

Private Sector Banks are outperforming the whole index. We should avoid trading in the PSU BANK and look for buying in PVT Banks only.

Day’s narrow range suggests a sharp move may come in the bank index. This narrow range has also opened a long trade.

Day’s gain has given us a buying opportunity in the index. Idea is to wait for first 15 min. The high recorded in first 15 min will be our entry point for a long trade. If this trade executes then place a stop loss at 20450.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE
INDUSINDBANK 1336 BUY Intermediate and short term trend is up in INDUSINDBK. The stock has seen an upside rally and then started trading narrow and range bound. A breakout may lead prices higher. Buy this stock above 1340. If this trade executes then place your stop just below 1330 and a target near 1360
BHEL 153 BUY Intermediate and short term trend is up in BHEL. The stock has seen an upside rally and then started a minor correction in a shape of bullish flag. A breakout may lead prices higher. Buy this stock above 154. If this trade executes then place your stop just below 152 and a target near 158.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
BIOCON FEB FUT BUY 1127.5 CMP 1110 1150-1160 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
DCBBANK.17.02 Feb 153.8 11.33 41.93 4036500 HAVELLS.17.02 Feb 414.2 -2.99 4.64 4732000
GMRINFRA.17.02 Feb 15.35 6.23 1.79 1.69E+08 AXISBANK.17.02 Feb 481.15 -1.91 1.74 26772000
RECLTD.17.02 Feb 151.3 4.78 11.87 25002000 OIL.17.02 Feb 328.1 -1.66 13.19 2411024
ADANIENT.17.02 Feb 97.6 3.66 3.04 23072000 BOSCHLTD.17.02 Feb 21709.6 -1.12 4.86 82575
TCS.17.02 Feb 2500.05 3.53 12.12 5425000 CADILAHC.17.02 Feb 444.95 -0.89 0.55 3785600
Short Covering Long Unwinding
Stocks Price Price% OI OI% Stocks Price Price% OI OI%
JINDALSTEL.17.02 Feb 7.55 -5.75 40689000 100.45 IBREALEST.17.02 Feb 77.2 -2.46 -10.27 28470000
KTKBANK.17.02 Feb 5.97 -8.74 19484750 122.55 MCDOWELL-N.17.02 Feb 2334.9 -1.57 -9.82 2365500
JUSTDIAL.17.02 Feb 5.13 -10.02 2803200 483.5 TV18BRDCST.17.02 Feb 38.65 -1.15 -2.31 91443000
RCOM.17.02 Feb 4.06 -7.06 96096000 34.6 CEATLTD.17.02 Feb 1121 -1.04 -13.74 2003400
TATASTEEL.17.02 Feb 3.69 -0.45 22182000 486.5 MARICO.17.02 Feb 266.4 -0.91 -2.2 5670600

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Vol Delivery Del % % Change
Sectors Price Change % Quantity
PC JEWELLER LIMITED 382.35 0.61 445553 1208648 79.32 Nifty 50 8879.2 0.65 87225
Bajaj Auto Limited 2791.5 0.45 155317 326995 74.68 Nifty Bank 20677.1 0.61 87225
NTPC Limited 171.8 1.21 6132019 2020128 74.17 Nifty IT 10671.25 1.37 87225
Mah & Mah Ltd. 1315.95 -0.09 470421 645750 73.79 Nifty Pharma 10641.6 0.16 87225
ASIAN PAINTS LIMITED 975.75 1.56 1092302 839051 73.45 Nifty Realty 191.95 1.43 87225
Hero MotoCorp Limited 3102.1 0.48 197887 365972 70.68 Nifty Infrastructure 3042.2 1.04 87225
Reliance Industries Ltd 1075.4 -0.01 2663127 2370822 69.86 Nifty PSU Bank 3292.95 0.53 87225
Power Grid Corporation o 206.45 1.93 5578603 1916820 68.61 Nifty Auto 9743.95 0.62 87225
TECH MAHINDRA LIMITED 499.95 -0.71 2610984 1151521 68.2 Nifty Metal 3116.75 2.07 87225
OIL 327.15 -1.87 1090649 309262 68.14 Nifty Commodities 3412.2 1.25 87222

UPCOMING ECONOMIC DATA

                                      Domestic                                                                                                              
•Quarterly GDP (Q4) (YoY) on 28th Feb, 2017.

•IIP Data (YoY) on 10th March, 2017.

CORPORATE NEWS

•NTPC’s Power Management Institute will soon impart training to state discom staff across the country for capacity building under the Integrated Power Development Scheme (IPDS). The IPDS’ objective is 24×7 power supply for consumers and reduction of AT&C losses.

•Vedanta will invest USD 10 billion in 3-4 years on expanding business across verticals.

•Havells India has acquired the consumer durable business (CDB) of the Lloyd Electric and Engineering for an enterprise value of Rs 1,600 crore, giving them a foothold in the fast growing $15 billion consumer appliances market.

•DLF Ltd will invest about Rs 3,500 crore this year to complete construction of almost all of its existing housing projects.

Source: Economic Times, Business Standard

BOARD MEETINGS

Company Name Purpose Meeting Date Company Name Purpose Meeting Date
CASTROLIND Results/Dividend 21-Feb-17 TANTIACONS Board Meeting Postponed 24-Feb-17
PAPERPROD Results/Dividend 21-Feb-17 MALWACOTT Board Meeting Postponed 25-Feb-17
KAMATHOTEL Board Meeting Postponed 21-Feb-17 MERCK Board Meeting Postponed 27-Feb-17
ITDCEM Results/Dividend 21-Feb-17 VESUVIUS Results/Dividend 27-Feb-17
NET4 Results 21-Feb-17 SANOFI Results/Dividend 27-Feb-17
EMCO Board Meeting Postponed 23-Feb-17 MANDHANA Results 1-Mar-17
RAIN Results 23-Feb-17 SUNCLAYLTD Board meeting Rescheduled 13-Mar-17
MAHINDCIE Results 23-Feb-17 SGFL Board Meeting Adjourned 15-Mar-17
MERCK Results/Dividend 24-Feb-17

CORPORATE ACTION

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
CENTUM Interim Dividend – Rs. – 2.0000 22-Feb-17 JAGRAN Buy Back of Shares 22-Feb-17
CONCOR Interim Dividend – Rs. – 9.6000 22-Feb-17 MEP Interim Dividend – Rs. – 0.1000 22-Feb-17
CONTROLP Interim Dividend – Rs. – 2.5000 22-Feb-17 MOIL Interim Dividend – Rs. – 5.0000 22-Feb-17
DCMSHRIRAM Interim Dividend – Rs. – 2.8000 22-Feb-17 NCLIND Interim Dividend – Rs. – 1.0000 22-Feb-17
ELDEHSG Interim Dividend – Rs. – 12.5000 22-Feb-17 NICCOPAR Interim Dividend – Rs. – 0.1500 22-Feb-17
GREAVESCOT Interim Dividend – Rs. – 4.0000 22-Feb-17 NRBBEARING Interim Dividend – Rs. – 1.4000 22-Feb-17
HGS Interim Dividend – Rs. – 2.5000 22-Feb-17 PODARPIG Interim Dividend – Rs. – 2.5000 22-Feb-17
HITECHGEAR Interim Dividend – Rs. – 1.2500 22-Feb-17 SJVN Interim Dividend – Rs. – 2.2500 22-Feb-17
ICIL Interim Dividend – Rs. – 0.4000 22-Feb-17 SUDARSCHEM Interim Dividend – Rs. – 2.5000 22-Feb-17

 

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