RBL Bank may get excluded from the Nifty Bank index

Private sector lender RBL Bank may get excluded from the Nifty Bank index by National Stock Exchange (NSE) in its upcoming review due in March 2022, while Bank of Baroda could make an entry, according to a latest report by Edelweiss Securities.

The index change is expected to take place after the recent developments at the bank. On December 25, the Reserve Bank of India (RBI) appointed Yogesh Dayal as an additional director on RBL Bank's board and on the same day, Vishwavir Ahuja, managing director and CEO, went on leave with immediate effect. Dayal is the chief general manager in charge of the department of communication.

DERIVATIVES CALL

BUY INDUSINDBK 880CE @7/8, TGT 14+, SL 3

Nifty & Banknifty Technical Research Outlook (27th Dec 2021)-

Taking global cues, the Nifty is likely to open flat around 17000 and expected to remain range-bound in the price band of 16800-17200.

The Nifty previous session ended 0.40% down at 17003.75. It opened on a positive note and got sold off from day’s high towards ending the last session of the week with a Hanging Man candle. Recovery followed by a Hanging Man in a downtrend implies the Benchmark Index may again find sellers on rise. Needless to say, weakness is likely to persist as long as it trades below 17400 levels. Immediate trading range is likely to be 16800-17200.

On the Nifty hourly chart, oversold leading indicators suggesting pullback, however, direction of the ADX still favoring the midterm bears. Staying cautious on rise is strongly recommended. Intraday trading range is likely to be 16800-17100. Higher resistance is placed around 17200 levels.

Nifty patterns on multiple periods suggest; turnaround from the oversold zone followed by sustained recovery led to a Spinning-top candle on the weekly. Weekly candle suggesting range-bound oscillation likely to continue.  

The Bank Nifty previous session ended 0.95% up at 34,857.05. It might get into the trading range of 34600-35500.

The Financial Nifty Fut trading range is likely to be 16200-16900.

Nifty Crucial Supports & Resistances-

Supports- 16800, 16700 Resistances- 17100, 17200

Intraday Biases: -

Nifty-

Intraday negative bias as long as it trades below 17200. Supports are placed around 16800 and 16700.

Bank Nifty-

Intraday negative bias as long as it trades below 35500. Support is placed around 34600.

Gem, jewellery export down 8% last month

Gem and jewellery exports declined 8 per cent last month to $2.38 billion against $2.58 billion in the same period a year ago, largely due to break in manufacturing activity during Diwali. In rupee terms, it was down 4 per cent to ₹17,785 crore against ₹18,471 crore logged in same period last year. Cut and polished diamond exports was up 11 per cent to $1.30 billion ($1.17 billion), while in rupee terms in jumped 16 per cent to ₹9,720 crore (₹8,367 crore).

Stock News and Results on January 22

*Results on January 22* 

 *Reliance Industries, Yes Bank, Gland Pharma, HDFC Life Insurance Company* , SBI Life Insurance Company, ARSS Infrastructure Projects, Century Textiles, Crompton Greaves Consumer Electricals, Fineotex Chemical, Gujarat Ambuja Exports, Indian Bank, India Grid Trust, JSW Steel, Kopran, Mangalam Organics, Oberoi Realty, Reliance Home Finance, Shiva Cement, Simplex Projects, Symphony and V-Mart Retail were among 41 companies to announce their quarterly earnings on January 22.

*Stock in the news* 

 *Indian Energy Exchange* : The company reported sharply higher consolidated profit at Rs 58.1 crore in Q3FY21 against Rs 41.7 crore in Q3FY20, revenue jumped to Rs 85.2 crore from Rs 59.7 crore YoY.

 *South Indian Bank:* The company reported loss at Rs 91.6 crore in Q3FY21 against profit of Rs 90.4 crore in Q3FY20, net interest income fell to Rs 596.4 crore from Rs 601.8 crore YoY.

 *JK Tyre* : The company reported sharply higher consolidated profit at Rs 230.7 crore in Q3FY21 against Rs 108.9 crore in Q3FY20, revenue rose to Rs 2,769.3 crore from Rs 2,274.8 crore YoY.

 *HDFC Bank* : Sebi imposed Rs 1 crore penalty on HDFC Bank for non-compliance with an interim order.

 *SRF* : The company has reported profit at Rs 324.7 crore in Q3FY21 against Rs 343 crore in Q3FY20; revenue jumped to Rs 2,146.4 crore from Rs 1,850.5 crore YoY.

 *Cyient* : The company has reported a higher profit at Rs 95.4 crore in Q3FY21 against Rs 83.9 crore in Q2FY21; revenue rose to Rs 1,044.3 crore from Rs 1,003.3 crore QoQ

MORNING REPORT (21/01/2021)

MARKET SNAPSHOT @ 21.01.2021

*Results on January 21* 

 *Asian Paints, Bajaj Auto,* AAVAS Financiers, MCX India, SBI Cards and Payment Services, Bajaj Holdings & Investment, Bandhan Bank, Biocon, Cyient, Genus Power Infrastructures, Indo Count Industries, Indian Energy Exchange, IIFL Securities, JBF Industries, Jindal Steel & Power, JK Tyre & Industries, Kajaria Ceramics, Kirloskar Pneumatic, Man Industries, Mphasis, Music Broadcast, Reliance Power, Saregama India, South Indian Bank, SRF, Supreme Petrochem, Westlife Development, Zensar Technologies and Zicom Electronic Security Systems are among 57 companies to announce their quarterly earnings on January 21.

*Stocks in the news* 

 *L&T Technology Services* : The company reported profit at Rs 186.1 crore in Q3FY21 against Rs 165.5 crore in Q2FY21, revenue rose to Rs 1,400.7 crore from Rs 1,313.8 crore QoQ.

 *Axis Bank* : Competition Commission of India (CCI) has approved the acquisition of stake in Max Life Insurance by Axis Bank, Axis Capital and Axis Securities.

 *Aditya Birla Fashion* : Competition Commission of India approved Flipkart's 7.8 percent stake buy in Aditya Birla Fashion.

 *Havells India* : The company reported sharply higher profit at Rs 350.1 crore in Q3FY21 against Rs 200.6 crore in Q3FY20, revenue jumped to Rs 3,175.2 crore from Rs 2,273.3 crore YoY.

 *Phillips Carbon Black* : The company reported sharply higher consolidated profit at Rs 125.44 crore in Q3FY21 against Rs 70.06 crore, revenue at Rs 769.4 crore against Rs 768.65 crore YoY.

 *Bajaj Finance* : The company reported consolidated profit at Rs 1,146 crore in Q3FY21 against Rs 1,614 crore, revenue fell to Rs 4,296 crore from Rs 4,535 crore YoY.

NIFTY & BANK NIFTY FUT SUPPORT AND RESISTANCE ON 08/01/2020

NIFTY & BANK NIFTY FUT SUPPORT  AND RESISTANCE ON 08/01/2020
	R3	R2	R1	PIOVT POINT	S1	S2	S3
Nifty	12288	12214	12169	12095	12021	11976	11902
Bank Nifty	32295	32013	31839	31557	31275	31101	30819

	Turnover(cr)	NSE &BSE (Total value) (Rs. Cr)
INDEX FUTURES	-235.17	FII	- 682
INDEX OPTIONS	4352.60	DII	311
STOCK FUTURES	702.72	Put Call Ratio 0.94
STOCK OPTIONS	106.86