| Indian Market | 24-Jan-22 | ||
|---|---|---|---|
| Indices | Close | Change | % chg |
| Nifty | 17149.10 | -468.05 | -2.66% |
| Sensex | 57491.51 | -1545.67 | -2.62% |
| Banknifty | 36947.55 | -626.75 | -1.67% |
| Indian Market | 24-Jan-22 | ||
|---|---|---|---|
| Other Indices | Close | Change | % chg |
| Nifty Mid-Cap 100 | 29383.00 | -1180.60 | -3.86% |
| Nifty Small-Cap 100 | 10870.90 | -546.05 | -4.78% |
| India VIX | 22.83 | 3.94 | 20.86% |
| US Market | 24-Jan-22 | ||
|---|---|---|---|
| Indices | Close | Change | % chg |
| Dow 30 | 34364.50 | 99.13 | 0.29% |
| S&P 500 | 4410.13 | 12.20 | 0.28% |
| Nasdaq | 13855.10 | 86.20 | 0.63% |
| Currency / Commodity | 24-Jan-22 |
|---|---|
| Indices | Current |
| USD/INR | 74.5850 |
| EUR/INR | 84.3810 |
| Dollar Index | 95.975 |
| US 10-year bond | 1.7710% |
| WTI Crude Oil | $ 83.52 |
| Brent Crude Oil | $ 85.81 |
| Gold | $ 1840.50 |
| Bitcoin | $ 36,250 |
| FII / DII Activity | 24-Jan-22 | Rs. (In Crores) |
|---|---|---|
| (Provisional) | Buy | Sell |
| FII | 3751.58 | |
| DII | 74.88 |
Trade Setup
- Panic button was pressed on Dalal-Street, Indian market witness one of the sharpest and brutal sell-off post March 2020. Investor fancy / High PE stocks / Fin Tech companies took beating on expectation of US Fed to make first move on interest rate in March 2022.
- Wall- Street witness sharp recovery from the day’s low to finish the day in green. Buying on dip / short covering took market to close flat to green with gains under 1 percent for all 3 major indices.
- Nifty PCR @ 0.66 compared to 0.87 on previous day, VIX @ 22.83 – Indian market showing oversold zone. SGX Nifty indicating 100 – 150 points gap-down opening below 17000 level.
- Indian market will be closed tomorrow for Republic Day and US Fed meeting outcome will impact our market on 27-Jan-22 along with final F&O expiry day for January series.
- SGX Nifty @ 16982.50 down 74.50 points at 8:40 AM.
Technical View
- Nifty 17412 that was 61.8% retracement level of 16833 – 18350 rally was broken like a pack of cards yesterday. 16833 level is next level to watch out for.
- Nifty PCR @ 0.66 compared to 0.87 on previous day. VIX @ 22.82 above comfort level of 20.
- In short-term upcoming events – US FOMC meeting & Budget will guide the sentiment. Fear & Hope is now playing the market.
- Now as we mentioned in our weekly update – capital protection remains our key focus and keep cash level around 25 – 40% of portfolio as we firmly believe clarity will emerge and fresh opportunity will be clearly visible which is not the case now and expect to be uncertain over next 4 – 5 trading day.
Stock Updates
- Hero Motocorp: The company has approved an investment of Rs 700 crore in one or more tranches, in Hero FinCorp.
- Axis Bank Q3FY22 Net Profit: Rs 3,614 crore vs Rs 1,116.6 crore (YoY) (Estimate: 3,216 crore)
- SBI Cards and Payment Services Q3FY22 (Consolidated, YoY) Revenue up 20% at Rs 2,889.46 crore Vs Rs 2,408.37 crore Net profit up 84% at Rs 385.78 crore Vs Rs 209.66 crore Gross NPA at 2.40% Net NPA at 0.83%
- Deepak Nitrite Q3FY22 (Consolidated, YoY) Revenue up 39% at Rs 1,722.27 crore Vs Rs 1,234.69 crore Net profit up 12% at Rs 242.46 crore Vs Rs 216.56 crore. Ebitda up 5% at Rs 351.85 crore Vs Rs 335.04 crore. Margins at 20.4% Vs 27.1%
- Earnings: Maruti Suzuki India, Cipla, Pidilite Industries, Macrotech Developers, SRF, United Spirits, Torrent Pharmaceuticals, Aditya Birla Sun Life AMC, APL Apollo Tubes, Brightcom Group, Astec Lifesciences, Best Agrolife, Can Fin Homes, CarTrade Tech, Cosmo Films, Federal Bank, Finolex Industries, Indiabulls Real Estate, Icra, Ion Exchange (India), MPS, Raymond, RPG Life Sciences, Star Cement, Swaraj Engines, Symphony, TeamLease Services
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.