Morning-Outlook-Feature-Image

Morning-outlook-17march

NIFTY:

The NIFTY opened just below 17000 at 16994.65 with a gap up of 22 points. The index started moving lower after the opening tick and went below 16900.Prices have found intraday support around 16850, recorded an intraday low at the same place, and started moving higher. The index went above 17000 and started finding resistance around 17050.The NIFTY recorded its intraday high at 17062.45 and moved sideways towards the end. The index finally closed at 16985.60 with a gain of just 13.45points or 0.08% up. MEDIA outperformed today and closed with a gain of over 4% followed by FMCG and REALTY. METAL under performed today and closed with a loss of 2.58% followed by IT. On the basis of these two patterns, we can conclude that a short-term low may be in place. It will fail if the index moves below 16850. We have mentioned a support zone inside the 16800-17000 range and a resistance around the 17250-17300 range. The volatility is also high as the INDIA VIX is moving above level 16 for the past three days. We are expecting a relief rally or a brief consolidation here. We should look for a trading opportunity on an intraday basis.

BANK NIFTY:

the BANK NIFTY opened at 39061.70 with a gap up of just 41 points. The index started moving down after the opening tick and saw a sharp dip toward 38500. Prices have recorded its intraday low at 386 13.15 and then started moving higher. Prices have moved very volatile, recorded its intraday high at 39381.40, and finally closed at 392 10.10 with a gain of 190 points. PVT BANK has underperformed today and ended lower by 0.07%. PSU BANK has outperformed today and closed with a gain of 0.57%. Within the index, in terms of points, HDFC BANK contributed the highest on the upside while INDUSIND BANK contributed the lowest. The index breaks its five trading days of a lower closing streak and ended with gains today. It is possible that a short-term low may be in place and now we may see a relief rally or a consolidation here. We have to wait for confirmation first. Support is visible around 38500 while resistance is visible around 40000. The trend is still down and the volatility is also high. We should avoid taking carry-forward trade and shift our focus to intraday trading only.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE
HUL 2459.35 BUY The stock is about to give a breakout on the intraday and the daily chart. The stock can be bought above 2459.35 with a stop loss of 2452 and a target of 2499.
NMDC 113.15 SELL The stock has given a breakdown on the intraday as well as the daily chart. The stock can be sold below 112.95 with a stop loss of 114.05 and a target of 110.75.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
SUN PHARMA  980 CE BUY 8.95 CMP 6.70 13.55 BREAKOUT

 

Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
ZEEL.23.03 Mar 208.95 10 1.73 70821000 MOTHERSON.23.03 Mar 68.95 -10.22 33.33 80595000
ICICIPRULI.23.03 Mar 411.9 6.72 9.82 15768000 HINDALCO.23.03 Mar 387.15 -4.85 17.11 30172800
HINDPETRO.23.03 Mar 246.15 6.33 8.39 24024600 JINDALSTEL.23.03 Mar 558.5 -4.23 4.44 18181250
BPCL.23.03 Mar 351.75 6.08 18.11 16097400 TATASTEEL.23.03 Mar 105.6 -3.07 6.95 220517000
AMBUJACEM.23.03 Mar 385.9 5.48 1.12 61358400 NMDC.23.03 Mar 113.85 -2.86 0.33 49927500
                                                                        Short Covering                                                                       Long Unwinding
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
DLF.23.03 Mar 362.75 4.77 -0.71 43992300 CUMMINSIND.23.03 Mar 1649.3 -2.11 -1.1 3393600
BERGEPAINT.23.03 Mar 605.7 3.27 -1.94 7603200 GNFC.23.03 Mar 524.45 -0.99 -0.92 7809100
INDUSTOWER.23.03 Mar 153.8 2.84 -3.64 28324800 JKCEMENT.23.03 Mar 2799.1 -0.71 -1.59 432250
PVR.23.03 Mar 1595 2.72 -2.66 2038256 METROPOLIS.23.03 Mar 1262.5 -0.59 -4.76 816400
DABUR.23.03 Mar 536.25 2.49 -2.73 10876250 BSOFT.23.03 Mar 273.45 -0.58 -0.8 7236000

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Dabur India Ltd. 534.5 2.42 2094614 2617741 79.4 Nifty50 16985.6 0.08 86727
Hdfc Asset Management Co 1682.65 0.35 655602 816644 76.21 Niftybank 39132.6 0.21 86730
Infosys Limited 1404.1 -1.1 7323117 5753128 76.14 Nifty it 28517.25 -0.69 86730
Hdfc Life Insurance Comp 461.4 -1.14 6790599 4588291 75.27 India Vix 16.22 -0.49 86730
Ntpc Limited 179.6 0.79 9405016 6402953 74.9 Nifty Fmcg 44971.2 1.14 86730
Power Grid Corporation o 232.15 1.69 13828363 6564035 71.57 Nifty Pharma 11743.2 0.94 86730
City Union Bank Ltd. 130.1 -1.77 6886975 3017547 71.2 Nifty Realty 387.25 1.11 86730
Atul Ltd. 6945.45 1.83 58577 41185 69.12 Nifty Auto 12304.9 0.19 86730
United Spirits Limited 776.45 1.9 1429107 966494 67 Nifty Metal 5471.75 -2.58 86730
Exide Industries Ltd 176.55 -0.54 1284174 715089 66.56 Nifty Financial Services 17463.9 0.31 86730

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: FX Reserves, USD 17th March, 2023

INR: Infrastructure Output (YoY) (Feb) 31st March, 2023

 USD: Existing Home Sales (Feb) on 21st March, 2023

USD: Fed Interest Rate Decision on 22nd March, 2023

NEWS UPDATES

  • Benchmark indices ended on positive note in the highly volatile session on March 16. At close,the Sensex was up 78.94 points or 0.14% at 57,634.84, and the Nifty was up 13.40 points or 0.08% at 16,985.60. About 1377 shares advanced, 2062 shares declined, and 107 shares were unchanged.

  • Metal stocks were under pressure on March 16, with the Nifty Metal being the only sectoral index on the NSE that witnessed heavy sell off on the back of a fall in global base metal prices. Copper, Zinc, Aluminium and tin contracts saw deep cuts on the London Metal Exchange.

  • As India’s headline inflation continues to be sticky at around 6 percent and the central bank also keeping its eye on the rupee stability along with uncertainty in the US markets and Fed impending decision, the RBI is likely to for one more rate hike in its next monetary policy committee meeting in April, members of the Economic Advisory Council (EAC) to the Prime Minister said.

  • Zee Entertainment Enterprises has agreed to repay dues owed to IndusInd Bank as the company seeks to resolve insolvency proceedings initiated against it, Bloomberg reported. The move will help Zee to move forward on its merger with Sony Group unit to create a $10 billion media giant.

Source: Economic Times,  Indian Express, Business Today, Livemint, Business Standard, Bloomberg Quint

BOARD MEETINGS

Company Name Purpose Meeting Date Company Name Purpose Meeting Date
ADCON General 17-Mar-23 RHETAN General 17-Mar-23
BEL Interim Dividend 17-Mar-23 RISHYRN General 17-Mar-23
BIGBLOC General 17-Mar-23 SILVERPRL General 17-Mar-23
FIBERWEB General 17-Mar-23 TUNITEX General 17-Mar-23
GCMCAPI General 17-Mar-23 VARIMAN General 17-Mar-23
GCMCOMM General 17-Mar-23 VBIND General 17-Mar-23
GCMSECU General 17-Mar-23 VOLLF General 17-Mar-23
GLOBALCA Bonus issue;General 17-Mar-23 ACHYUT Bonus issue;General 18-Mar-23
GMRINFRA General 17-Mar-23 CANFINHOME General 18-Mar-23
GREENCREST General 17-Mar-23 DHYAANI General 18-Mar-23
JACKSON General 17-Mar-23 FEDERALBNK General 18-Mar-23
JMDVL General 17-Mar-23 GPIL Buy Back of Shares 18-Mar-23
KENVI Stock  Split 17-Mar-23 INFRATRUST General 18-Mar-23
KHOOBSURAT General 17-Mar-23 MODULEX Quarterly Results 18-Mar-23
NCLRESE General 17-Mar-23 OONE General 18-Mar-23
PRIMECAPM General 17-Mar-23 SMEL General 18-Mar-23
PSITINFRA General 17-Mar-23 VGIL Rights Issue;General 18-Mar-23

 

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
BI 17-Mar-23 E.G.M. MIDHANI 23-Mar-23 Interim Dividend – Rs. – 1.6800
CAPRIHANS 17-Mar-23 E.G.M. ABSLAMC 24-Mar-23 Interim Dividend
HITECH 17-Mar-23 Stock  Split From Rs.10/- to Rs.1/- AJANTPHARM 24-Mar-23 Buy Back of Shares
NETTLINX 17-Mar-23 Interim Dividend – Rs. – 0.4000 BEL 24-Mar-23 Interim Dividend
ROJL 17-Mar-23 Stock  Split From Rs.10/- to Rs.2/- GLS 24-Mar-23 Interim Dividend
TCMLMTD 17-Mar-23 E.G.M. SAIL 24-Mar-23 Interim Dividend
VIVANTA 17-Mar-23 Stock  Split From Rs.10/- to Rs.1/- STYRENIX 24-Mar-23 Interim Dividend
CSL 20-Mar-23 Stock  Split From Rs.10/- to Rs.2/- VIVANZA 24-Mar-23 Stock  Split From Rs.10/- to Rs.1/-
HAL 20-Mar-23 Interim Dividend – Rs. – 20.0000 VKAL 24-Mar-23 E.G.M.
SRUSTEELS 20-Mar-23 Interim Dividend – Rs. – 0.1000 BHARATAGRI 29-Mar-23 Stock  Split From Rs.10/- to Rs.1/-
UJJIVAN 20-Mar-23 Interim Dividend – Rs. – 5.0000 CRISIL 31-Mar-23 Final Dividend – Rs. – 23.0000
AGIIL 21-Mar-23 Interim Dividend – Rs. – 1.0000 DWARKESH 31-Mar-23 Interim Dividend
GAIL 21-Mar-23 Interim Dividend – Rs. – 4.0000 SCHAEFFLER 11-Apr-23 Final Dividend – Rs. – 24.0000
HUDCO 21-Mar-23 Interim Dividend – Rs. – 0.7500 HUHTAMAKI 20-Apr-23 Dividend – Rs. – 2.0000
KAMAHOLD 21-Mar-23 Interim Dividend – Rs. – 84.0000 JETINFRA 21-Apr-23 Bonus issue 1:1
KDDL 21-Mar-23 Interim Dividend – Rs. – 2.0000 NESTLEIND 21-Apr-23 Final Dividend – Rs. – 75.0000
MCLOUD 21-Mar-23 Bonus issue 3:1 VESUVIUS 26-Apr-23 Final Dividend – Rs. – 8.2500
NATIONALUM 21-Mar-23 Interim Dividend – Rs. – 2.5000 ABB 27-Apr-23 Dividend – Rs. – 5.5000
PODARPIGQ 21-Mar-23 Interim Dividend – Rs. – 3.5000 KSB 28-Apr-23 Final Dividend – Rs. – 15.0000
STANCAP 21-Mar-23 E.G.M. SANOFI 28-Apr-23 Final Dividend – Rs. – 194.0000
SUNTV 21-Mar-23 Interim Dividend – Rs. – 2.5000 SANOFI 28-Apr-23 Special Dividend – Rs. – 183.0000

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