Weekly Trading Diary: 20th to 24th December 2021

16750-16850 will act as a immediate resistance zone for today for 17000 ;evels ’
16500 will act as immediate support zone for today for 16200 levels …


Surprising to see market sustaining above the resistance zones frankly speaking. What one day can do in markets :slight_smile: Yesterday the talk was about 16000 expiry… now we are near 16900 in a day. Loving these high voltage swings in the mrkt.

14.2 Million Calls squared off for the weekly , 12.Pes 1 M Pes were sold , next supprt at 16500 and 16800 , 17000 strong resistance .

Markets slid from day’s highs but managed to bounce back after yesterday’s sharp fall, closing up by around 0.9%. US markets too look set for a positive opening.

:oil_drum: Brent Crude: 72.43 +1.27%
:heavy_dollar_sign: USD-INR Spot: 75.6 -0.40%
:scroll: India 10Y bond yield: 6.469% +0.53%

Day’s trend:

All sectors managed to close in green. Metal index was the biggest gainer, surging by over 2.9%.

Amongst the F&O stocks

:chart_with_upwards_trend: Indus Towers was the highest gainer.

:chart_with_downwards_trend: Shriram Transport Finance was the top loser.

:newspaper: In the news

Competition Commission of India approved the Tata Group’s proposed acquisition of Air India and two of its units.

MapMyIndia made a strong debut as it listed 45% over the issue price. Ending the first trading session up by almost 35%.

Exide Industries received in-principle approval from its board for its plans to set up lithium-ion cell manufacturing.

Indian Oil Corporation acquires a 4.93% stake in Indian Gas Exchange.

SBI has acquired a minority stake in JSW Cement with an investment of Rs 100 crore via CCPS.

India’s auto component manufacturing industry grew 65% during H1 2021: ACMA

:earth_americas: Around the World

French drugmaker Sanofi in a $1 bln deal to buy U.S.-based Amunix Pharma.

Nikola Corp agrees to pay $125 mln to settle SEC charges of defrauding investors.

Monthly put writers sitting at 17k are still not panicking. Would be interesting to see who gives up first.

Bank Nifty is the key now. If sustains above 35k today. That should be a positive indicator for this monthly expiry. Im biased towards longs in Bnifty more than nifty for the next 1 week

As expected Nifty is struggling to climb the 16900 wall…which was the support before.

Broad market range for this expiry is 16400-17200

Narrow range would be 16600-16900.

Nifty and Sensex extended gains for the second straight day, up by 1.1%. The US market is likely to be off to a mixed start.

:oil_drum: Brent Crude: 74.09 +0.18%
:heavy_dollar_sign: USD-INR Spot: 75.55 -0.07%
:scroll: India 10Y bond yield: 6.465% -0.05%

Day’s trend:

All sectoral indices finished in the green for the second straight session, with the Realty index leading the way, climbing 2.95%.

Amongst the F&O stocks

:chart_with_upwards_trend: GMR Infrastructure Ltd was the highest gainer.
:chart_with_downwards_trend: ICICI Lombard General Insurance Co Ltd was the top loser.

:newspaper: In the news

The board of directors of Zee Entertainment Enterprises Ltd. approved the company’s merger with Sony Pictures Networks India.

Deepak Nitrite’s board has approved the raising of funds through the QIP route for an aggregate amount up to Rs 2,000 cr.

ABB India’s board okayed incorporation of wholly-owned subsidiary to divest turbocharger business for Rs 310 cr.

Zydus Cadila received approval from the USFDA to market Pimavanserin tablets, used in the treatment of certain mental disorders, in the American market.

:earth_americas: Around the World

The European Commission proposed a law that would implement in Europe a global deal struck among the 20 biggest world economies (G20) on a minimum tax rate for companies.

Norway’s Aker BP will acquire oil and gas businesses of Sweden’s Lundin Energy in a $10bn deal. Creating the second-largest producer on the Norwegian Continental shelf.

Are we witnessing the santa short covering rally in the mrkts? frankly didnt expect 16900 resistance to be breached that easily. I’m expecting a retest of 16900 sometime soon.

That being said, Bank Nifty offers better Risk reward compared to nifty in my view. Globally omicron cases are rising exponentially for sure. But, like always how much of this is in price is the million dollar question.

Fresh longs in nifty here are kind of risky. better to focus on bnifty n stocks which are battered heavily,

Expecting BN fut might not break today’s high (i.e/ 35410). my SL is above 35650.

Somethings cooking in energy sector. Keep an eye. (Long side)

Yesterday, I was exploring BankNIfty & saw a few good technical responses on zoomstocks, it was handy, and I was more confident in my strategy and went ahead and made a profitable trade. think we can share technical inputs there with the users. good place maybe

Benchmark indices managed to rise for the third successive session, up by around 0.7%. Dow and Nasdaq futures are trading higher, indicating a positive start for US markets.

:oil_drum: Brent Crude: 75.57 +0.39%
:heavy_dollar_sign: USD-INR Spot: 75.23 -0.42%
:scroll: India 10Y bond yield: 6.46% -0.06%

Day’s trend:

On the sectoral front, the Realty index continued leading the gainers, up by over 2.3%. The media index was the top dragger, down by over -1%.

Amongst the F&O stocks

:chart_with_upwards_trend: Firstsource Solutions was the highest gainer.
:chart_with_downwards_trend: ZEEL was the top loser.

:newspaper: In the news

MedPlus Health Services made a strong debut, listing at over 30% to the issue price. Closing the day up by around 40%.

CMS Info Systems IPO was subscribed 1.95 times on the final day. The retail portion was booked 2.15 times, while QIB was 1.98.

Hero MotoCorp will make an upward revision in the ex-showroom prices of its motorcycles and scooters, with effect from January 4, 2022, to offset the impact of steadily increasing commodity prices.

Automobile dealers group FADA warned that if chip-making countries are put on lockdown due to the spread of the Omicron variant of COVID-19, it may affect the passenger vehicle supplies.

NCLT has approved GMR Infra’s demerger of the company’s non-airport businesses.

IPO fundraising reaches an all-time high of Rs 1.18 trillion in 2021. Story here.

:earth_americas: Around the World

Tesla shares rose after CEO Elon Musk said he was “almost done” with stock sales after selling over $15 billion worth for more than one month.

Tencent hands shareholders $16.4 bln windfall in the form of JD.com stake: More here.

Global merger and acquisition (M&A) activity jump’s by 63% in 2021 to top the $5 trillion mark. Story here.

i will try to keep things simple today : Market is following the trend of US Markets. S&P is at All time high . Dow is hardly 1% away from fresh highs.

Rest is all noise.

17150-200 is the resistance zone. Lets see what happens here. I think downside for this expiry is capped at 16850-900 zones.

I will prefer to focus on stocks than index today. Will update the thread if I find anything interesting.

PS : There’s also a monday fall sentiment and fear among various section of market participants. keep that factor while considering any carry forwrd positions

Positionally my view is bearish on tatapowerfut
closing SL will be above 223.

** not for trade, just a view

Bank Nifty optically still looks the weakest.

I want to take a contra long near 34850-900 zones for 36k++ before month end RR: 1 :3

Any takers for weekly doji? thats an intersting way to end what has been a crzy week

Not exactly a doji. But kind of a indecisive week with both bulls and bears being hopeful for next week

Markets snapped their 3 day gaining streak to finish the final trading session of the week on a lower note. Ending the week with no substantial gains.

:oil_drum: Brent Crude: 76.52 -0.10%
:heavy_dollar_sign: USD-INR Spot: 75.02 -0.29%
:scroll: India 10Y bond yield: 6.46% 0.03%

Weekly trend:

Barring Nifty IT, all other sectors closed in red. PSU Bank was the top loser, dropping by over -1.9%.

Amongst the F&O stocks

:chart_with_upwards_trend: Firstsource Solutions was the highest gainer.
:chart_with_downwards_trend: L&T Finance Holdings was the top loser, down by over 6% on sale of its Mutual Fund business to HSBC.

:newspaper: In the news

L&T Finance Holdings will sell its mutual fund business L&T Investment Management Ltd. to HSBC Asset Management (India) for $425 million.

Data Patterns listed at over 47% to its issue price. Ending the day up by over 29%.

Vedanta group is planning to invest $15 billion over the next 5-10 years to make displays and semiconductor chips in India.

India’s Crude Oil imports hit a 10-month peak in November as refiners bank on strong demand.

:earth_americas: Around the World

Japan’s cabinet approved on Friday an annual budget of $940 billion, putting priority on the response to battling COVID-19 over fiscal reform.

Turkish Lira recovered over 36% versus US Dollar after the Erodgan government announced billions of dollars in state-backed market interventions and a promise to cover FX losses on certain deposits.

This trade failed as the entry was a bit premature and news added to the fire. SL hit.

will look for better opportunities. have a great week ahead folks.

Cipla 880 to 1080 levels in turbulent markets in less than 3 months :slight_smile:

1 Like