NIFTY:
Nifty opened at 17405.05 with a gap up of 80 points. The index first moved up and recorded its intraday high at 17442.40 but soon prices started drifting downwards. Prices have seen a sharp decline of more than 200 points till the afternoon and then started a process of consolidation. The index recorded its intraday low at 17199.60. Prices have found strong support there and consolidated about two hours. The index finally closed at 17245.65 near its day low with a loss of 69.85 points or 0.40% down. The METAL sector outperformed today and ended with a gain of more than 1% while AUTO underperformed today and ended with a loss of more than 1%. The IT ended on a flat note.
It was a trend day today but on the downside. After opening with a gap up, the index recorded its intraday high near the opening tick and intraday low near the closing tick and ended on a negative note. Prices have seen an intraday decline of almost 250 points from its intraday highs to intraday lows. However, the short term trend is up and prices have been moving sideways for the last four trading days. A strong support zone is visible inside the 17000 17100 range while resistance is visible inside the 17400 17500 range. Any dip towards the support levels is a buying opportunity if find support there.
BANK NIFTY:
BANK NIFTY opened at 36627.70 with a gap up of 188 points. The index continued moving higher for the first ten minutes of trading and recorded its intraday high at 36827.60. Prices then turned down and kept on moving lower for almost the whole day. The index consolidated in the last two hours of trading, recorded its intraday low at 36064.75 and finally closed at 36084.95 with a loss of 355 points. PSU and PVT BANKS both indices have seen intraday decline today and closed lower by nearly half percent.
A strong resistance zone is now clearly visible inside 36500 37000 ranges. Since the short term trend is up so we should be on long side of the markets. Buying opportunity will come either on a sharp dip or on a breakout above the mentioned resistance zone. However, intraday traders should keep on taking long trades on any sharp dip.
TECHNICAL PICKS
| COMPANY NAME | CMP | B/S | RATIONALE+ |
| ESCORTS | 1856 | 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 1840 and for the target of 1900. |
| MUTHOOTFIN | 1336 | SELL | The immediate trend of the script is bearish. There is a negative cross over of moving averages as well as of the indicators therefore it can be sell below 1355 with a stop loss of 1350 and target of 1300. |
DERIVATIVE PICKS
| Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| MINDTREE | 4200 CE | BUY | 65 | CMP | 40 | 100 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| BHEL.Mar 31 | 51.15 | 0 | 5.48 | 93817500 | JKCEMENT.Mar 31 | 2317.85 | -3.15 | 12.15 | 463575 | |
| TVSMOTOR.Mar 31 | 610.9 | 0.02 | 1.35 | 7481600 | SRF.Mar 31 | 2563 | -2.96 | 3.05 | 2935500 | |
| NAM-INDIA.Mar 31 | 336.5 | 0.09 | 8.13 | 2809600 | KOTAKBANK.Mar 31 | 1759.8 | -2.91 | 17.9 | 13720400 | |
| CANFINHOME.Mar 31 | 605.3 | 0.12 | 0.03 | 2939625 | NAUKRI.Mar 31 | 4631.85 | -2.83 | 1.1 | 1548250 | |
| PVR.Mar 31 | 1758 | 0.15 | 0.2 | 2818475 | GMRINFRA.Mar 31 | 37.2 | -2.75 | 1.54 | 77040000 | |
| Short Covering | Long Unwinding | |||||||||
| EICHERMOT.Mar 31 | 2390.05 | 0.02 | -1.07 | 3109050 | CHAMBLFERT.Mar 31 | 416.65 | -4.79 | -0.57 | 2620500 | |
| INDIGO.Mar 31 | 1838.8 | 0.04 | -0.02 | 3010000 | ATUL.Mar 31 | 9675.6 | -2.9 | -1.17 | 101250 | |
| RELIANCE.Mar 31 | 2540.35 | 0.05 | -0.29 | 31993000 | PIIND.Mar 31 | 2732.95 | -2.07 | -0.21 | 1668500 | |
| GSPL.Mar 31 | 268.7 | 0.07 | -2.86 | 2312000 | BHARTIARTL.Mar 31 | 707.65 | -1.82 | -1.03 | 46769450 | |
| DELTACORP.Mar 31 | 305.2 | 0.08 | -2.65 | 11826600 | BAJAJ-AUTO.Mar 31 | 3586.4 | -1.82 | -0.96 | 1839500 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Hdfc Ltd. | 2346.3 | -2.35 | 3173223 | 0 | 80.64 | Nifty50 | 17245.65 | -0.4 | 82521 | |
| Dr. Reddys Lab Ltd | 4127.3 | 2.41 | 1044114 | 0 | 76.66 | Niftybank | 36147.35 | -0.55 | 82521 | |
| Alkem | 3649.25 | 2.78 | 173064 | 0 | 69.82 | Nifty it | 36082 | 0.03 | 82521 | |
| Mah & Mah Ltd. | 774.1 | -1.46 | 3277274 | 0 | 68.35 | India Vix | 24.75 | 2.81 | 82521 | |
| Escorts India Ltd. | 1856.4 | 0.86 | 722768 | 0 | 67.73 | Nifty Fmcg | 35789.85 | -0.27 | 82521 | |
| Container Corp Of India | 614.95 | -0.04 | 716804 | 0 | 66.64 | Nifty Pharma | 13569.65 | 0.42 | 82521 | |
| Tata Consultancy Serv Lt | 3712.4 | 0.31 | 1596195 | 0 | 66.44 | Nifty Realty | 441.55 | -0.35 | 82524 | |
| Icici Lombard General In | 1252.5 | 0.17 | 628795 | 0 | 65.62 | Nifty Auto | 10463.45 | -1.04 | 82524 | |
| Hcl Technologies Ltd. | 1180.7 | 0.37 | 2338886 | 0 | 65.15 | Nifty Metal | 6399.95 | 1.21 | 82524 | |
| Torrent Pharma Ltd. | 2831.1 | 2.49 | 408885 | 0 | 64.12 | Nifty Media | 2192.25 | 0.21 | 82524 | |
| Oracle Fin Serv Soft Ltd | 3559.6 | -1.05 | 118421 | 0 | 63.11 | Nifty Financial Services | 16936.75 | -0.88 | 82524 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: FX Reserves, USD on 25th March, 2022
INR: Banks Loan and Deposit Growth on 25th Match, 2022 |
•USD: Initial Jobless Claims Stock on 24th March, 2022
•USD: Manufacturing PMI (Mar) on 24th March, 2022 |
NEWS UPDATES
- The Income Tax Department on Wednesday conducted raids at multiple premises of Hero Motorcorp as part of a tax evasion investigation. The company called it a “routine inquiry, which is not uncommon before the end of the financial year”.Offices and residential premises of the company including that of chairman and CEO of the group Pawan Munjal located in Gurugram (Haryana), Delhi and few other locations were being covered, they said.
- The Rs 18,000-crore share buyback programme of Tata Consultancy Services, India’s second-most valuable firm, was subscribed over 7.5 times. According to data provided by stock exchanges, 300 million shares were tendered against the offer size of 40 million shares.
- Leading spice maker MDH Ltd has refuted the reports of a possible sale of its business to FMCG maker HUL. The reports suggested that MDH promoters are in talks to sell their business to HUL. Terming such reports as “completely false, fabricated and baseless”, MDH in a message posted on its official Twitter account urged people “not to believe such rumours”.
- Bajaj Electricals Ltd (BEL) on Wednesday announced the extension of its trademark agreement with the United Kingdom-based Morphy Richards for a further 15 years with effect from July 1, 2022. This licence extension will enable BEL to continue using the trademark Morphy Richards for producing, marketing and selling home appliances in India and neighbouring territories such as Nepal, Bhutan, Bangladesh, Maldives and Sri Lanka, a joint statement said.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint.
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| BIRLACAP | Quarterly Results | 24-Mar-22 | ASRL | General | 25-Mar-22 |
| CHLOGIST | General | 24-Mar-22 | HPAL | General | 25-Mar-22 |
| GICRE | General | 24-Mar-22 | ISTRNETWK | Issue Of Warrants;General | 25-Mar-22 |
| IFL | Pref.Issue of shares;Issue Of Warrants | 24-Mar-22 | JSTL | General | 25-Mar-22 |
| KOHINOOR | General | 24-Mar-22 | JYOTISTRUC | Increase in Authorised Capital;Results | 25-Mar-22 |
| LT | General | 24-Mar-22 | MIC | General | 25-Mar-22 |
| MARG | Quarterly Results | 24-Mar-22 | NGIL | Right Issue of Equity Shares;General | 25-Mar-22 |
| METALFORGE | Quarterly Results | 24-Mar-22 | PUNJCOMMU | General | 25-Mar-22 |
| OCEANIC | Quarterly Results | 24-Mar-22 | SAGCEM | Preferential Issue of shares | 25-Mar-22 |
| RAJTV | Increase in Authorised Capital;General | 24-Mar-22 | TRANSCOR | General | 25-Mar-22 |
| SHANKARA | Increase in Auth. Cap.;Issue Of Warrants | 24-Mar-22 | WIPRO | Interim Dividend | 25-Mar-22 |
| WEBELSOLAR | General | 24-Mar-22 | CEINSYSTECH | ESOP;Increase in Authorised Capital;General | 26-Mar-22 |
| APOLLO | General | 25-Mar-22 | EUROTEXIND | General | 26-Mar-22 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| 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/- |
| CENTEXT | 25-Mar-22 | E.G.M. | BEML | 29-Mar-22 | Interim Dividend – Rs. – 5.0000 |
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