Nifty in Consolidation; Bank Nifty Out Performance Continues
Daily Morning Outlook – 19 Jan 2017
NIFTY: It could have been an uptrend day in the Nifty but Due to downside shift in second half made the difference. Prices opened with a gap up above 8400 and then made a high near 8460 then found resistance again (same as past occasions) and came down.
This has been the story of Nifty in past week or so. Prices are finding resistance near 8450 then coming down to trade in a range which is narrowing day by day suggest a directional move soon in the index.
Market outlook is looking bullish as Budget announcement is coming closer and closer. Bank Nifty has seen a breakout from its resistance this week and looking cheerful. We may see a rally here that could also lead to a big move in the major index Nifty also.
However, this is just a scenario. Only time can tell us that what would happen in near future. Markets will do what they want but for the very short term we may see prices going higher. Therefore, look for a buying opportunity only..
BANK NIFTY: Bank Nifty had a rather bullish day due to the fact that index managed to close above yesterday’s close (in spite of dip in second half) Prices started the session with minor change but went through a rally that helped index to make a high near 19275, there it found intraday resistance and pushed down. Eventually index closed just above 19150 with a gain of 125 points. Prices have traded in a moderate range of nearly 200 points.
On the daily charts, index is slowly but steadily inching higher near the next resistance level of 19350 after a successful breakout. We had suggested a long trade above 19150 which was executed yesterday.
Traders were advised to hold these positions with a stop loss near 18900. Prices made a low near 19070 so this trade is still going on. Trend is up in the Bank Nifty and our view is also bullish. Therefore, traders should again hold on to these long positions with a same stop loss of 18900.
|AMBUJACEM||218||BUY||Intermediate and short term trend is sideways in AMBUJACEM. The price of this stock has seen a small trading range breakout and closes higher. We may see an upside big move from the current level. Buy this stock above 219. If this trade executes then place your stop just below 215 and a target near 227|
|SIEMENS||1188||BUY||Intermediate trend is sideways and short term trend is up in SIEMENS. We have seen a breakout from a large trading range in this stock. Prices are consolidating and close higher. We may see higher price from here. Buy this stock above 1189. If this trade executes then place your stop just below 1170 and a target near 1227.|
|Stock Name||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|SINTEX||JAN FUT||BUY||88.5||CMP||85||96||OI Increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|TATAELXSI.17.01 Jan||1522.05||6.81||9.74||1329200||JSWENERGY.17.01 Jan||61.8||-3.81||3.03||37224000|
|JUBLFOOD.17.01 Jan||885.35||6.61||0.11||2377000||PCJEWELLER.17.01 Jan||379.45||-3.18||8.07||1125000|
|EXIDEIND.17.01 Jan||190.25||4.16||3.07||12496000||PFC.17.01 Jan||133.5||-2.87||0.4||16560000|
|SINTEX.17.01 Jan||88.5||3.93||1.86||25343625||RECLTD.17.01 Jan||138.8||-2.7||2.34||26214000|
|ULTRACEMCO.17.01 Jan||3513.1||3.89||4.14||2537600||IDEA.17.01 Jan||67.15||-2.18||3.19||94808000|
|Short Covering||Long Unwinding|
|NIITTECH.17.01 Jan||4.64||-0.86||868500||435.3||PTC.17.01 Jan||83||-2.41||-3.44||16624000|
|IBREALEST.17.01 Jan||4.34||-2.35||29950000||83||MRF.17.01 Jan||52950||-1.46||-1.21||35475|
|JINDALSTEL.17.01 Jan||3.61||-1.18||52569000||80.45||JUSTDIAL.17.01 Jan||364.55||-1.15||-1.44||4180800|
|MINDTREE.17.01 Jan||2.81||-0.18||2706000||496.5||DHFL.17.01 Jan||284.05||-0.73||-3.22||16689000|
|GRANULES.17.01 Jan||2.19||-2.65||10455000||114.35||M&MFIN.17.01 Jan||295.5||-0.71||-2.78||11910000|
Top Delivery Percentage
|Stocks||Price||%Chg||Vol||Delivery||Del %||% Change|
|HCL Technologies Ltd.||844.05||0.75||1084391||1706816||83.27||Nifty 50||8417||0.23||89952|
|TATA CONSULTANCY||2295.1||0.72||1568287||1211234||80.48||Nifty Bank||19164.5||0.51||90084|
|TITAN COMPANY LIMITED||367||1.96||865079||1037279||74.42||Nifty IT||10231.6||0.24||90084|
|MARICO LIMITED||259.9||1.54||1021462||1043022||74.34||Nifty Energy||10403.9||-0.4||90084|
|Indian Oil Corp. Ltd.||348.6||-0.71||3880988||2120634||74.3||Nifty Pharma||10452.45||0.25||90084|
|Sun Pharma Ltd||649.95||0.04||4013631||2218625||73.55||Nifty Realty||182||0.05||90084|
|HDFC Bank Ltd.||1242.6||0.33||1153222||645873||72.58||Nifty Infrastructure||2878.75||-0.13||90084|
|Power Grid Corporation o||198.45||0.35||11941771||4096953||71.45||Nifty PSU Bank||3126.35||0.66||90084|
|Mah & Mah Ltd.||1214.6||0.84||979188||342200||71.44||Nifty Auto||9644.8||0.03||90084|
|Bharti Airtel Limited||313.9||-1.44||3307754||1277159||69.09||Nifty Metal||3006.55||2.36||90084|
Upcoming Economic Data
|•Union Budget 2017-18 on 1st Feb, 2017.
•RBI Monetary Policy on 08th Feb, 2017
|•US Crude Oil Inventories data on 19th Jan, 2017.
•US Existing Home Sales data (Dec) on 24th Jan, 2017.
|•Tata Realty and Infrastructure Ltd is taking 10 per cent stake in a Rs 5,900-crore floating LNG import terminal being set up by Nikhil Merchant-led Swan Energy in Gujarat.
•Private equity firm Warburg Pincus has acquired 14% stake in multiplex major PVR for Rs 820 crore . While promoter Ajay Bijli has sold 5% stake in the company, Multiples Alternate Asset Management (Multiples), promoted by the former ICICI Venture honcho Renuka Ramnath, has sold 9% in PVR.
•Tata Motors Ltd. has launched the Hexa sport utility vehicle, with prices starting at Rs 11.99 lakh and going up to Rs 17.49 lakh ex-showroom Delhi.
•Ashok Leyland has launched Guru, an intermediate commercial vehicle (ICV), and also the new version of its light commercial vehicle ‘Partner’ in the country.
Source: Economic Times, Business Standard
|Company Name||Purpose||Meeting Date||Company Name||Purpose||Meeting Date|
|SHRIRAMEPC||Issue of Securities||19-Jan-17||SINTEX||Results||20-Jan-17|
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|APARINDS||Buy Back of Shares||19-Jan-17||SANGUI||Consolidation of Shares||19-Jan-17|
|CYBERMAT||Reduction of Capital||19-Jan-17||BANCOINDIA||Interim Dividend – Rs. – 5.0000||20-Jan-17|
|ISGEC||Interim Dividend – Rs. – 15.0000||19-Jan-17||NARBADA||Reduction of Capital||20-Jan-17|
|NHPC||Interim Dividend – Rs. – 1.7000||19-Jan-17||BAJAJCORP||Interim Dividend – Rs. – 11.5000||23-Jan-17|
|NUTRA||Bonus issue 1:10||19-Jan-17||TCS||Interim Dividend – Rs. – 6.5000||23-Jan-17|
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