share market details 16 Jan 2016NIFTY: Nifty had a narrow range day but with a positive bias as prices opened with a minor gap down below 8400 but closed in the higher side of day’s intraday range of 50 points. On the daily charts, Prices are trading inside a narrow range with support (8300) and resistance (8450). Bank Nifty on the other hand, broke out handsomely from the trading range (18700-19100) and closed nearly 200 points higher from last closing. Bank Nifty was one of the out-performers in recent times and continued to outperform. This may also impact positively on Nifty and may lead to a breakout from its resistance. This is just a possibility and if prices crossed 8460 level then traders can look to trade the Nifty on the long side. Market is looking positive due to out performance of Bank Nifty and other indices (except IT Index). Therefore, we should avoid short selling in the indices and look for buying only.

BANK NIFTY: BANK NIFTY has seen a rally today and closed higher. The index opens with a minor gap down near 18900 but traded higher for the rest of day with a pattern of higher highs higher lows. Eventually, the index closes near the highs with a gain of almost 200 points at 19110.65. In our previous newsletter, we had discussed a trading range in the Bank Nifty with support around 18700 and resistance near 19100. We had also anticipated a breakout on the higher side due to the consideration of positive scenario. Index, in line with our view, has seen a breakout from this range and closed higher; short term trend is up, that opens up a new trade in the Bank Nifty. For tomorrow, we are suggesting a trade in the index. If prices opens below 19150 then wait for a breakout from this level on the upside and then take a long trade. If price opens above 19150 then go long at the open. In either case, traders are advised to place a stop just below 18900.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE
BAJAJFINANCE 892 BUY Intermediate trend is sideways in BAJFINANCE. The stock has seen a sharp decline and then started a process of consolidation. Prices are trading very narrow and at the verge of breakout. Buy this stock above 893. If this trade executes then place your stop just below 883 and a target near 920
BPCL 661 BUY Intermediate trend is up in BPCL. The stock has seen a sharp upside move and then started trading narrow. This narrow movement suggests a big move is very near. Buy this stock above 660. If this trade executes then place your stop just below 650 and a target near 680.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
ICICI BANK JAN FUT BUY 269.9 CMP 267 276 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
DHFL

17.01 Jan

289.9 6.7 12.89 17502000 DCBBANK

17.01 Jan

121.2 -2.57 5.75 4963500
ICIL

17.01 Jan

182.7 5.12 5.67 3850000 TV18BRDCST

17.01 Jan

37.95 -2.06 1.38 85085000
DLF

17.01 Jan

129.85 4.34 3.22 35725000 INFY

17.01 Jan

958.9 -2.05 1.18 19223000
GRANULES

17.01 Jan

108.95 4.11 2.89 11045000 HCLTECH

17.01 Jan

832 -1.99 3.06 6724200
KTKBANK

17.01 Jan

123.8 3.69 4.77 16527375 EICHERMOT

17.01 Jan

22440 -1.9 2.84 232600
Short Covering Long Unwinding
Stocks Price Price% OI OI% Stocks Price Price% OI OI%
LICHSGFIN

17.01 Jan

2.11 -0.05 11520300 543.7 WOCKPHARMA

17.01 Jan

692 -0.77 -0.12 3006000
CENTURYTEX

17.01 Jan

1.88 -0.89 7577900 818.95 JSWENERGY

17.01 Jan

65.25 -0.53 -0.34 35224000
HEROMOTOCO

17.01 Jan

1.45 -1.26 1540000 3101.95 IFCI

17.01 Jan

28.05 -0.36 -0.85 61578000
ARVIND

17.01 Jan

1.34 -2.35 6820000 375.3 JINDALSTEL

17.01 Jan

78.35 -0.32 -1.12 54108000
JUSTDIAL

17.01 Jan

1.19 -2.93 4340400 373.85 HEXAWARE

17.01 Jan

200.5 -0.25 -0.71 5058000

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Vol Delivery Del % % Change
Sectors Price Change % Quantity
Power Grid Corporation o 199.4 1.14 4766336 11700213 86.91 Nifty Realty 181.2 1.34 72879
MARICO LIMITED 257.8 -0.21 631934 1038976 79.27 Nifty PSU Bank 3099.9 1.69 72879
HCL Technologies Ltd. 830.55 -2.32 1214669 1574367 68.84 Nifty Pharma 10418.2 -0.26 72879
HDFC Bank Ltd. 1247.65 1.23 941466 641591 66.65 Nifty Metal 2980.95 0.97 72879
COALINDIA 313.8 -0.38 3866192 2238062 64.71 Nifty IT 10173.1 -0.88 72879
HDFC Ltd. 1256.9 0.75 1694061 1356457 63.63 Nifty Infrastructure 2880.35 0.36 72879
BHARTI INFRATEL LIMITED 355.55 0.49 368089 572029 63.43 Nifty Energy 10599.85 -0.53 72879
Bajaj Auto Limited 2721.65 0.48 116324 155787 62.89 Nifty Commodities 3219.3 0.26 72879
NTPC Limited 170.65 -0.2 4633778 3330690 62.13 Nifty Bank 19096.45 0.97 72879
IBULHSGFIN 766.1 2.36 1363915 1486725 61.64 Nifty Auto 9650.7 0.52 72879

UPCOMING ECONOMIC DATA

                                      Domestic                                                                                                       International
•RBI Monetary Policy on 08th Feb, 2017 •US Core CPI on 18th Jan, 2017.

CORPORATE NEWS

•Hindustan Petroleum Corp will restart a 36,000 barrels per day crude unit at its Vizag refinery in 2-3 days. HPCL had shut the crude unit at 166,000 bpd southern Indian plant last Friday following a minor fire in its crude unit due to a pipeline leak.

•SPML Infra  Ltd  has bagged new orders worth Rs 800 crore for various projects including developing power substations

•Sukinda Chromite Mine (SCM) of Tata Steel   located in Odisha’s Jajpur district has bagged 5 awards including Par Excellence award as the best mine amongst participants of the state from Indian Bureau of Mines (IBM)

Source: Economic Times, Business Standard

BOARD MEETINGS

Company Name Purpose Meeting Date Company Name Purpose Meeting Date
CANFINHOME Results 17-Jan-17 SASKEN Results/Others 18-Jan-17
MASTEK Results/Others 17-Jan-17 RSSOFTWARE Results 18-Jan-17
NIITTECH Results 17-Jan-17 REPRO Results 18-Jan-17
HAVELLS Results 17-Jan-17 PHILIPCARB Results 18-Jan-17
DELTACORP Results 17-Jan-17 KPIT Results 18-Jan-17
ATFL Results 18-Jan-17 KIRLOSIND Results 18-Jan-17
TRIDENT Results/Dividend 18-Jan-17 MUTHOOTCAP Results 18-Jan-17
TNTELE Results/Others 18-Jan-17 HATSUN Results 18-Jan-17
TECILCHEM Results 18-Jan-17 HMVL Results 18-Jan-17
SURANAIND Results 18-Jan-17 HINDOILEXP Results 18-Jan-17
STRTECH Results 18-Jan-17 IPAPPM Results 18-Jan-17

CORPORATE ACTION

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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