NIFTY:
NIFTY opened at 16757.10 with a big gap up of 412 points. The index first moved down and then went up and recorded its intraday high almost at the opening tick. Prices face strong resistance there and then turn on the downside. Prices slowly moved down and then saw a sudden decline in the last afternoon to record its intraday low at 16447.90. The index has seen some recovery in the last one and half hours of trading and finally closed at 16594.90 with a gain of 249.55 points or 1.53% up. All the sectoral indices have seen an upside move today except the IT that ended with a minor loss. FMCG, METAL, and REALTY outperformed today and closed with more than 2% gains.
The short-term trend is sideways now and we have 16800 level as resistance and 16200 level as a support for the NIFTY Index. The NIFTY continued moving in a wide intraday range. The volatility index ‘INDIA VIX’ has seen a significant faII but still trading at a level where the volatility will be high. The first sign of low volatile markets will come when the VIX moves below 20. As mentioned yesterday, “Carry forward traders should step aside:·However, intraday traders should look for a trading opportunity on both sides of the market.
BANK NIFTY:
BANK NIFTY opened at 35153.95 with a big gap up of 1262 points. The index moved further of the upside and recorded its intraday high at 35374.15. Prices finds strong resistance there and then started drifting downwards. A sharp decline brought prices to its intraday low at 34218.05. Prices have consolidated in the last one and half hour of trading and finally closed at 34400.70 with a gain of 509 points. PSU BANKS outperformed today and closed with a gain of 2.33%. PVT BANKS have underperformed today but closed higher with a ga in of 1.80%. Within the index, in terms of points, SBIN contributed the highest while BANDHAN BANK contributed the lowest. The index has been recording wide intraday range from the last few trading days while the short-term trend changed to sideways due to a sharp upside correction. Resistance is now visible around 35500 while support may emerge around 32000.
TECHNICAL PICKS
| COMPANY NAME |
CMP |
B/S |
RATIONALE+ |
| JUBLFOOD |
2625 |
BUY |
The stock is on the verge of giving the breakout on the intraday as well as the daily chart. The stock can be bought with a stop loss of 2550 and for the target of 2780. |
| TECHM |
1538 |
BUY |
The immediate trend of the script is bullish. There is a positive cross over of moving averages as well as of the indicators therefore it can be buy abpve 1540with a stop loss of 1500and target of 1580. |
DERIVATIVE PICKS
| Stock Name |
Strike Price |
Buy/Sell |
CMP |
Initiation |
Stop Loss |
Target |
Remarks |
| Jswsteel |
700 CE |
BUY |
17 |
CMP |
14 |
25 |
OI Increase |
| Long Buildup |
|
Short Buildup |
| Stocks |
Price |
Price% |
OI % |
OI |
|
Stocks |
Price |
Price% |
OI % |
OI |
| BSOFT.Mar 31 |
470 |
5.8 |
27.49 |
3677700 |
|
ZEEL.Mar 31 |
248.6 |
-3.44 |
2.55 |
74478000 |
| GNFC.Mar 31 |
788.1 |
3.55 |
22.43 |
3562000 |
|
ABBOTINDIA.Mar 31 |
16740.55 |
-3.35 |
1.03 |
31900 |
| INDHOTEL.Mar 31 |
209.25 |
1.43 |
17.42 |
20548398 |
|
GODREJCP.Mar 31 |
701.75 |
-3.08 |
4.72 |
9858000 |
| ITC.Mar 31 |
250.2 |
2 |
10.8 |
1.14E+08 |
|
DIXON.Mar 31 |
4338.7 |
-2.97 |
17.43 |
524750 |
| ONGC.Mar 31 |
175.75 |
1.91 |
9.82 |
35042700 |
|
HINDUNILVR.Mar 31 |
2000 |
-2.87 |
7.21 |
13191000 |
| Short Covering |
|
Long Unwinding |
|
|
|
|
|
|
|
|
|
|
|
| VEDL.Mar 31 |
405.65 |
1.03 |
-0.09 |
61566000 |
|
GRASIM.Mar 31 |
1573.5 |
-3.24 |
-0.04 |
10340750 |
| IEX.Mar 31 |
223.15 |
0.56 |
-0.29 |
32767500 |
|
BALKRISIND.Mar 31 |
2068 |
-3.14 |
-0.1 |
1222400 |
| MARUTI.Mar 31 |
7786.05 |
0.68 |
-1.79 |
2534000 |
|
CHOLAFIN.Mar 31 |
700.3 |
-2.79 |
-0.78 |
8607500 |
| MOTHERSUMI.Mar 31 |
136.9 |
2.55 |
-2.55 |
32497500 |
|
IBULHSGFIN.Mar 31 |
157.2 |
-2.69 |
-1.85 |
32481800 |
| BERGEPAINT.Mar 31 |
700.5 |
0.6 |
-0.42 |
3688300 |
|
APOLLOTYRE.Mar 31 |
188.9 |
-2.55 |
-0.14 |
14300000 |
TOP DELIVERY PERCENTAGE
| Stocks |
Price |
%Chg |
Total Qty |
Delivery |
Del % |
|
|
% Change |
|
|
|
|
|
|
|
Sectors |
Price |
Change % |
Quantity |
| Escorts India Ltd. |
1840.65 |
-0.35 |
887701 |
0 |
72.26 |
|
Nifty50 |
17315.5 |
1.16 |
92169 |
| Bharti Airtel Limited |
719.25 |
1.56 |
3000133 |
0 |
69.1 |
|
Niftybank |
36348.55 |
0.92 |
92169 |
| Colgate Palmolive (india |
1505.1 |
-1.06 |
416218 |
0 |
67.9 |
|
Nifty it |
36070.45 |
1.96 |
92169 |
| Abb Limited |
2077.15 |
-0.68 |
96849 |
0 |
66.83 |
|
India Vix |
24.07 |
-2.23 |
92169 |
| Hdfc Bank Ltd. |
1494.15 |
0.51 |
5230907 |
0 |
66.22 |
|
Nifty Energy |
25359.5 |
1.7 |
92169 |
| Infosys Limited |
1887.4 |
1.85 |
5709382 |
0 |
66.07 |
|
Nifty Fmcg |
35887.05 |
-0.73 |
92169 |
| Mah & Mah Ltd. |
785.6 |
0.27 |
5436875 |
0 |
65.82 |
|
Nifty Mnc |
17949.65 |
-0.65 |
92169 |
| Marico Limited |
492.1 |
-2.43 |
1143012 |
0 |
64.48 |
|
Nifty Pharma |
13513.15 |
-0.27 |
92169 |
| Hdfc Ltd. |
2402.75 |
0.45 |
6357856 |
0 |
64.48 |
|
Nifty Pse |
4064.75 |
0.83 |
92169 |
| Hdfc Asset Management Co |
2160.35 |
0.35 |
277448 |
0 |
63.91 |
|
Nifty Services Sector |
24037.1 |
1.15 |
92169 |
| Oracle Fin Serv Soft Ltd |
3545.3 |
-0.23 |
49645 |
0 |
67.52 |
|
Nifty Realty |
443.1 |
-1.01 |
92169 |
UPCOMING ECONOMIC DATA
| Domestic International |
| INR: FX Reserves, USD on 25th March, 2022 |
•USD: API Weekly Crude Oil Stock on 23rd March, 2022
•USD: New Home Sales (Feb) on 23rd March, 2022 |
NEWS UPDATES
- Zomato Ltd is facing a backlash on social media for its plans to roll out a 10-minute food service that critics say raises road-safety risks for delivery riders. CEO Deepinder Goyal said in a post late on Monday the service “Zomato Instant” would rely on a densely located network of so-called food “finishing stations”, which will house bestseller items from restaurants and use a sophisticated demand prediction algorithm.
- Indoco Remedies Ltd on Tuesday said it has received final approval from the US health regulator for its generic Lacosamide tablet indicated for prevention and control of seizures. The approval granted by the US Food & Drug Administration (USFDA) for Lacosamide tablets is for strengths of 50 mg, 100 mg, 150 mg and 200 mg. These are the generic version of Vimpat Tablets of UCB Inc, the company said in a regulatory filing.
- The Rs 18,000-crore share buyback programme of Tata Consultancy Services, India’s second-most valuable firm, has drawn a large number of shareholders. On Tuesday, 220 million shares were tendered, 5.5 times the company intends to repurchase. The Tata group flagship firm will buy back 40 million shares, or 1.08 per cent of its equity. The buyback is being done at Rs 4,500 per share—over 21 per cent premium to current market price. Shares of TCS last closed at Rs 3,701.
- Jubilant Food Works on Tuesday said it will acquire the remaining 10 per cent share in its joint venture Jubilant Golden Harvest from Golden Harvest. After this, Jubilant Food Works (JFL) would have Golden Harvest’s 49 per cent stake in the JV, making JGHL, which offers domino’s pizza in Bangladesh, a wholly-owned subsidiary.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint.
BOARD MEETINGS
| Company Name |
Purpose |
Ex-Date |
Company Name |
Purpose |
Ex-Date |
| BCONCEPTS |
Employees Stock Option Plan;General |
23-Mar-22 |
GICRE |
General |
24-Mar-22 |
| CREDITACC |
General |
23-Mar-22 |
IFL |
Issue Of Warrants;General;Pref. Issue |
24-Mar-22 |
| FLUOROCHEM |
Interim Dividend |
23-Mar-22 |
KOHINOOR |
General |
24-Mar-22 |
| IIFL |
General |
23-Mar-22 |
LT |
General |
24-Mar-22 |
| MACH |
General |
23-Mar-22 |
MARG |
Quarterly Results |
24-Mar-22 |
| MDRNSTL |
Quarterly Results |
23-Mar-22 |
METALFORGE |
Quarterly Results |
24-Mar-22 |
| MMTC |
Quarterly Results |
23-Mar-22 |
OCEANIC |
Quarterly Results |
24-Mar-22 |
| NIVAKA |
General |
23-Mar-22 |
RAJTV |
Increase in Authorised Capital;General |
24-Mar-22 |
| PUNJCOMMU |
General |
23-Mar-22 |
SHANKARA |
Increase in Auth. Capital;Issue Of Warrants |
24-Mar-22 |
| UNITECH |
Quarterly Results |
23-Mar-22 |
WEBELSOLAR |
General |
24-Mar-22 |
| VANICOM |
General |
23-Mar-22 |
HPAL |
General |
25-Mar-22 |
| BIRLACAP |
Quarterly Results |
24-Mar-22 |
ISTRNETWK |
Issue Of Warrants;General |
25-Mar-22 |
| CHLOGIST |
General |
24-Mar-22 |
JSTL |
General |
25-Mar-22 |
CORPORATE ACTION
| Company Name |
Ex-Date |
Purpose |
Company Name |
Ex-Date |
Purpose |
| MOLDTEK |
23-Mar-22 |
Interim Dividend – Rs. – 1.7000 |
CENTEXT |
25-Mar-22 |
E.G.M. |
| ALLCARGO |
24-Mar-22 |
Interim Dividend – Rs. – 3.0000 |
DATAINFRA |
25-Mar-22 |
Income Distribution (InvIT) |
| BEL |
24-Mar-22 |
Interim Dividend – Rs. – 1.5000 |
DILIGENT |
25-Mar-22 |
E.G.M. |
| DJML |
24-Mar-22 |
Bonus issue 1:1 |
TIJARIA |
25-Mar-22 |
E.G.M. |
| NDL |
24-Mar-22 |
Bonus issue 2:1 |
TVSMOTOR |
25-Mar-22 |
Interim Dividend – Rs. – 3.7500 |
| RITES |
24-Mar-22 |
Interim Dividend – Rs. – 7.5000 |
GOLDIAM |
28-Mar-22 |
Stock Split From Rs.10/- to Rs.2/- |
| RVNL |
24-Mar-22 |
Interim Dividend – Rs. – 1.5800 |
SAIL |
28-Mar-22 |
Interim Dividend – Rs. – 2.5000 |
| VTL |
24-Mar-22 |
Stock Split From Rs.10/- to Rs.2/- |
ARCFIN |
29-Mar-22 |
Stock Split From Rs.10/- to Rs.1/- |
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