Market Outlook – 2 February 2018

Nifty started on an optimistic note at 11016.90 and made high from 11117 points

daily market view

NIFTY:

Much awaited event had been over ……….

  Nifty started on an optimistic note at 11016.90 and made high from 11117 points during the presentation of the Budget but turned negative after FM Jaitley announced long term capital gains tax, hitting a low of 10878. However, it bounced back to close at 11016.90, still down 10  points, or 0.10 per cent. It was highly volatile   day as the the bulls and the bears struggled to emerge winners amid mixed Budget announcements and nifty moved in a 240(plus- minus) points range to eventually settle with a modest loss.

Despite wild movement, the bulls managed to defend critical support  area around 11000 mark on closing basis, as a result of which uptrend is still intact. For extension of the recent rally, the bulls need to initially push the indices beyond 11,120 mark on a closing basis. In such a scenario, targets close to 11,250 can be expected . Any violation of this support zone will cause a further correction in near term in the range of 10,500 levels.

Market is still intact in a range between 10950-11200 mark , any close above or below this level will decide further direction. We have to watch  tomorrow movement for further direction………

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE
BAJAJFINSV 5049 BUY Trend line breakout on daily chart, buy with stop loss of 5010  and respected target seems 5120

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
BANKINDIA FEB FUT SELL 153.5 CMP 157.5 148 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
ESCORTS.18.02 Feb 877.45 7.45 25.91 3682800 BEL.18.02 Feb 160.7 -4.49 13.63 31323600
CEATLTD.18.02 Feb 1890.25 3.32 19.16 1168650 VGUARD.18.02 Feb 228 -1.43 10.97 3066000
IDBI.18.02 Feb 63.55 4.87 18.26 35300000 CANBK.18.02 Feb 329.95 -3.89 9.98 12977600
APOLLOHOSP.18.02 Feb 1203.5 3.12 16.05 802500 INDIACEM.18.02 Feb 165.7 -1.72 8.82 32091500
ICICIPRULI.18.02 Feb 427.05 4.57 13.34 5255900 PAGEIND.18.02 Feb 21391.95 -0.96 8.61 44150
                                                                           Short covering                                                                               Long Unwinding
PIDILITIND.18.02 Feb 0.46 -4.89 1380000 901.9 JISLJALEQS.18.02 Feb 126 -10.32 -4.22 51912000
HAVELLS.18.02 Feb 0.45 -4.27 5694000 526.75 FORTIS.18.02 Feb 134 -4.05 -5.45 57008000
BIOCON.18.02 Feb 0.7 -4.17 7365600 622 AJANTPHARM.18.02 Feb 1400.7 -3.68 -1.37 973500
INDIGO.18.02 Feb 0.19 -2.47 2561400 1221.45 WOCKPHARMA.18.02 Feb 777 -3.48 -0.93 3537900
BHARATFORG.18.02 Feb 0.07 -2.17 6124800 720.6 GSFC.18.02 Feb 140.65 -3.33 -0.86 22257000

Top Delivery Percentage

Stocks Price %Chg Vol Delivery Del % % Change
Sectors Price Change % Quantity
DALMIA BHARAT LIMITED 2972 1.25 215502 0 88.96 Nifty 50 11016.9 -0.1 74955
Godrej Cons Products Ltd 1053.3 -0.01 550552 0 86.85 Nifty Bank 27220.7 -0.58 74955
Kotak Mahindra Bank Limi 1120.95 1.08 3856283 0 76.34 Nifty IT 12964.6 -0.17 74955
BHARTI INFRATEL LIMITED 346.85 -1.34 3045857 0 76.08 Nifty Energy 14263.9 -1.31 74955
Bosch Limited 19517.85 0.61 14329 0 75.22 Nifty FMCG 27351.9 0.83 74955
ITC Ltd. 275.3 1.44 59361301 0 74.74 Nifty Pharma 9158.7 -2.41 74955
NESTLEIND 7310.85 -2.12 106395 0 74.54 Nifty Services Sector 14654.05 -0.12 74955
Mah & Mah Ltd. 798.75 4.68 6895958 0 72.72 Nifty Realty 341.9 -0.81 74955
Infosys Limited 1144.6 -0.49 6502726 0 71.76 Nifty Infrastructure 3648.05 0.79 74955
ASIAN PAINTS LIMITED 1153 2.19 1103158 0 71.53 Nifty PSU Bank 3597.1 -2.3 74955

Upcoming Economic Data

International
•Interest rate decision on 7th February 2018

•CPI (YoY) (Jan) on 12th February 2018

•WPI Inflation (YoY) (Jan) on 14th February 2018

•Manufacturing PMI (Jan) on 1st February 2018

•Initial Jobless Claim on 1st February 2018

•Service PMI (Jan) on 5th February 2018

News Updates

•Amit Kumat, MD and CEO, Prataap Snacks, he said the company grew by 16% in H1 and expect to achieve similar growth in H2. He said they are looking at the margin between 8% and 10% going forward. On new launch, he said they have just launched Yum Pie two months back. The initial response was very good and they are looking for a revenue growth of around Rs 40 crore from Yum Pie.He mentioned that they will increase the capacity of namkeen and extruded snacks and it will be around Rs 150 crore over the next two years.

•Malo Le Masson, Head of Global Product Planning and Markus Braunsperger, Chief Technology Officer, Hero MotoCorp, they mentioned that they are set to re-enter the premium motorcycle segment. The auto major has unveiled a new 200 cc motorbike the Xtreme 200R which will take on Bajaj Pulsar 180 and KTM Duke 200. The new offering is expected to hit the markets in the next few months. The company will go about breaking the stranglehold of Bajaj and Royal Enfield in the premium segment.

•Nikhil Nanda, MD, JHS Svengaard Laboratorie, he said the company makes a range of oral and dental products and the order book of most of their customers are looking good. He mentioned in Q4 they will have the launches of their own brand with all the characters like Chhota Bheem, Pokemon, that they have leased out recently from the various brand owners. With the enhanced capacities, they will continue with their growth numbers and they can easily look at more than 25% growth on topline and bottomline. Going forward, they can increase their own brand share to about 20%.

Source: Economics Times

Board Meetings

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
HINDALCO Results 2-Feb-18 AUROPHARMA Results 7-Feb-18
BAJAJ-AUTO Results 2-Feb-18 M&M Results 9-Feb-18
BOSCHLTD Results 5-Feb-18 TATASTEEL Results 9-Feb-18
TATAMOTORS Results 5-Feb-18 SBIN Results 9-Feb-18
HEROMOTOCO Results 6-Feb-18 HINDPETRO Results 9-Feb-18
LUPIN Results 6-Feb-18 ONGC Results/Dividend 9-Feb-18
CIPLA Results 7-Feb-18 GAIL Results 12-Feb-18
EICHERMOT Results 7-Feb-18 SUNPHARMA Results 14-Feb-18

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
BVL 01-Feb-18 Spin Off PERSISTENT 02-Feb-18 Interim Dividend – Rs. – 7.0000
ECLERX 02-Feb-18 Buy Back of Shares VIPIND 06-Feb-18 Interim Dividend – Rs. – 1.0000
EDELWEISS 02-Feb-18 Interim Dividend – Rs. – 1.0500 IIFL 07-Feb-18 Interim Dividend – Rs. – 5.0000
PERSISTENT 02-Feb-18 Interim Dividend – Rs. – 7.0000 NTPC 07-Feb-18 Interim Dividend – Rs. – 2.7300
HYDIND 05-Feb-18 Interim Dividend – Rs. – 10.0000 RBL 07-Feb-18 Interim Dividend – Rs. – 6.5000
MOTILALOFS 05-Feb-18 Interim Dividend – Rs. – 4.0000 SIS 07-Feb-18 Interim Dividend – Rs. – 2.0000
TRIDENT 05-Feb-18 Interim Dividend – Rs. – 0.6000 TCIEXP 07-Feb-18 Interim Dividend – Rs. – 1.0000
CONCOR 06-Feb-18 Interim Dividend – Rs. – 9.6000 WENDT 07-Feb-18 Interim Dividend – Rs. – 10.0000
GODREJCP 06-Feb-18 Interim Dividend – Rs. – 1.0000 BEL 08-Feb-18 Buy Back of Shares
SUVEN 06-Feb-18 Interim Dividend – Rs. – 1.5000 BEL 08-Feb-18 Interim Dividend – Rs. – 1.6000

DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014

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http://research.elitewealth.in/wp-content/uploads/2017/09/Morning-Outlook.jpghttp://research.elitewealth.in/wp-content/uploads/2017/09/Morning-Outlook-150x131.jpgElite WealthMorning OutlookTrader ResearchMarket Outlook – 2 February 2018 Nifty started on an optimistic note at 11016.90 and made high from 11117 points NIFTY: Much awaited event had been over ……….   Nifty started on an optimistic note at 11016.90 and made high from 11117 points during the presentation of the Budget but turned negative after FM...Research Elite wealth Blog