| Indian Market | 12-Jan-22 | ||
|---|---|---|---|
| Indices | Close | Change | % chg |
| Nifty | 18212.35 | 156.60 | 0.87% |
| Sensex | 61150.04 | 533.15 | 0.88% |
| Banknifty | 38727.55 | 285.35 | 0.74% |
| Indian Market | 12-Jan-22 | ||
|---|---|---|---|
| Other Indices | Close | Change | % chg |
| Nifty Mid-Cap 100 | 31791.55 | 391.15 | 1.25% |
| Nifty Small-Cap 100 | 11749.10 | 102.40 | 0.88% |
| India VIX | 17.18 | -0.58 | -3.27% |
| US Market | 12-Jan-22 | ||
|---|---|---|---|
| Indices | Close | Change | % chg |
| Dow 30 | 36290.32 | 38.30 | 0.11% |
| S&P 500 | 4726.35 | 13.28 | 0.28% |
| Nasdaq | 15188.40 | 35.00 | 0.23% |
| Currency / Commodity | 12-Jan-22 |
|---|---|
| Indices | Current |
| USD/INR | 73.9150 |
| EUR/INR | 83.9870 |
| Dollar Index | 94.96 |
| US 10-year bond | 1.7480% |
| WTI Crude Oil | $ 82.66 |
| Brent Crude Oil | $ 84.57 |
| Gold | $ 1824.55 |
| Bitcoin | $ 43,672 |
| FII / DII Activity | 12-Jan-22 | Rs. (In Crores) |
|---|---|---|
| (Provisional) | Buy | Sell |
| FII | 1001.57 | |
| DII | 1332.01 |
Trade Setup
- IT Major announce Q3 result: TCS result slightly better than expectation, TCS announce buy-back @ 4500 per share and total buyback amount of 18000 crores.
- INFY revised up revenue guidance in range of 19.5 – 20 %. INFY declare stellar set of result, INFY ADR was up 2.92%. WIPRO numbers were disappointing – ADR down by 8.52%.
- IIP growth at 9 months low at 1.4% and Retail inflation at 6 months high came at 5.59%, it remained within RBI target range of 4 (+/- 2) %.
- US CPI & Core CPI came higher but was not shocking, Powell Testimony on Tuesday reduced uncertainty over the timing of action by US Fed.
Technical View
- Nifty closed at resistance / target level of 18215, Nifty closing @ 18212 – today’s indicative opening would be around 18300. Nifty next target 18342 and major support comes at 17944.
- Nifty RSI @ 68.52 & RSI average @ 61.72, RSI Approaching near 70 and rally from 16800 to 18300 without any major correction – we remain cautious at this level.
- Banknifty resistance at 38981 and near-term support level at 38401. Banknifty RSI @ 69.84 and RSI Average @ 60.92. VIX @ 17.18 cooled off from yesterday, Nifty PCR @ 1.45.
- Based on above factors, we remain cautious on chart, today is weekly expiry – Nifty to trade in range of 18200 – 18300 & Banknifty in range of 38500 – 39000.
Stock Updates
- Tata Motors: Jaguar Land Rover retail sales continued to be constrained by the global semiconductor shortage in Q3. Retail sales declined 13.6% quarter-on-quarter to 80,126 vehicles. However, wholesale volumes were 69,182 units and production volumes were 72,184 units in the period (both excluding China JV), up 8% and 41% respectively compared to the Q2.
- Cipla: The stockholders agreement between the company’s subsidiary InvaGen Pharmaceuticals and Avenue Therapeutics remains in force and InvaGen will continue to hold shares in Avenue.
- Kotak Mahindra Bank: The bank’s board has passed a resolution allowing promoters’ voting rights in the bank to be capped at 26% going forward.
- PB Fintech: The company has reached an annualised loan disbursal rate of $1.1 billion (excluding credit card issuance). The fintech disbursed Rs 695 crore in December 2021 across 668 cities in India.
- Dixon Technologies: The company has signed the joint venture agreement with Rexxam for manufacturing of printed circuit boards for air-conditioners. JV has received approval under PLI scheme.
Disclaimer: The market view and updates we are sharing are true to the best of our knowledge and sharing just for information purpose and any action would be purely investor’s own responsibility. Investor are advised to take necessary guidance from certified adviser and hence we will not be responsible for any profit or loss incurred due it. We do not have PMS license and we are not recommending anything to buy or sell.