NIFTY:
Nifty opened at 17289 with a gap up of 67 points. The index recorded its intraday high at 17194.90 a few ticks above the opening tick and started moving on the downside. Prices have filled the gap within the first five minutes of trading and then fall further on the downside to record its intraday low at 17076.55. The index found support there and formed a narrow trading range. Soon the range broke on the upside and prices have seen a rally in the last 30 minutes of trading to finally close at 17153 with a loss of 69.75 points or 0.40% down. The IT has underperformed today and closed lower by 1% followed by the PHARMA and FMCG sectors. The REALTY outperformed by closing 1.22% higher.
The volatility benchmark index ‘INDIA V IX’ is consistently falling for the past few days suggesting volatility is cooling off. On Monday, we should take a trade in the direction of a breakout. The idea is to look for a shorting opportunity on a break down below 17000 supports. But if prices find support at the lower end of this range and start moving higher then we should look for a buying opportunity on a breakout above 17300. For both cases, place a stop of 110 points and a target of 280 points. Take both trades if the first one gets stopped out.
BANK NIFTY:
BANK NIFTY opened at 35700.40 with a ga p up of 279 points. The index recorded its intraday high a few ticks above the opening price at 35717 and then turned down to fill the gap. The index moved further on the downside and then formed a narrow trading range. Prices have recorded its intraday low at 35203.85 and saw a sharp rally in the last 30 minutes of trading to finally close at 35536.45 without much of a change. PVT BANKS have outperformed today and closed with gains of 0.49%.PVT BANKS have seen an underperformance today and ended lower by 0.31%. On Monday we should look fora trading opportunity on both sides. The idea is to look fora shorting opportunity on a breakdown below 35200 or look for a buying opportunity on a breakout above 35800.Keep a stop of 300 points and a target of 800 points from your entry price. Take both trades if the first one gets stopped out.
TECHNICAL PICKS
| COMPANY NAME | CMP | B/S | RATIONALE+ |
| ADANIPORT | 743 | 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 735 and for the target of 760. |
| INDIAMART | 4453 | 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 4450 with a stop loss of 4500 and target of 4360. |
DERIVATIVE PICKS
| Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| ADANIENT | 1880 CE | BUY | 29 | CMP | 20 | 50 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| HINDALCO.Mar 31 | 621.75 | 0.03 | 16.66 | 37813125 | INDUSTOWER.Mar 31 | 202.25 | -5.75 | 19.09 | 24124800 | |
| LICHSGFIN.Mar 31 | 367 | 0.05 | 2.51 | 17584000 | ESCORTS.Mar 31 | 1669.45 | -3.82 | 4.71 | 1908500 | |
| AMBUJACEM.Mar 31 | 292.2 | 0.07 | 1.63 | 25576500 | MUTHOOTFIN.Mar 31 | 1303.75 | -3.64 | 0.58 | 3098250 | |
| ALKEM.Mar 31 | 3614.6 | 0.09 | 14.86 | 137600 | ASTRAL.Mar 31 | 1969.45 | -3.43 | 5.91 | 828300 | |
| MIDCPNIFTY.Mar 29 | 7243.95 | 0.17 | 25 | 1125 | TORNTPHARM.Mar 31 | 2745 | -3.38 | 6.04 | 701750 | |
| Short Covering | Long Unwinding | |||||||||
| BANKNIFTY.Mar 31 | 35650 | 0.02 | -2.99 | 2175725 | BSOFT.Mar 31 | 465.05 | -3.53 | -4.45 | 3464500 | |
| FINNIFTY.Mar 29 | 16724.35 | 0.02 | -1.05 | 3760 | GNFC.Mar 31 | 771.1 | -3.37 | -0.1 | 2509000 | |
| RAMCOCEM.Mar 31 | 730.35 | 0.06 | -1.99 | 2762500 | ABB.Mar 31 | 1986.5 | -2.81 | -0.97 | 204500 | |
| APOLLOTYRE.Mar 31 | 187.5 | 0.13 | -0.4 | 11907500 | WHIRLPOOL.Mar 31 | 1596.8 | -2.47 | -3.28 | 743750 | |
| SRF.Mar 31 | 2622.4 | 0.26 | -1.39 | 2626875 | LTTS.Mar 31 | 4940.2 | -2.32 | -0.56 | 603400 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Icici Lombard General In | 1265.55 | 1.72 | 1058844 | 0 | 76.07 | Nifty50 | 17153 | -0.4 | 81246 | |
| Crompton Greaves Consume | 374.55 | -0.98 | 1918113 | 0 | 74 | Niftybank | 35410.1 | -0.33 | 81246 | |
| Gmr Infrastructure Limit | 36.7 | -0.41 | 17302323 | 0 | 69.03 | Nifty it | 36152.3 | -1 | 81246 | |
| Hindustan Unilever Ltd | 1953 | -0.66 | 2233647 | 0 | 68.48 | India Vix | 23.43 | -2.09 | 81246 | |
| Colgate Palmolive (india | 1518.65 | 0.66 | 260395 | 0 | 68.44 | Nifty Fmcg | 35522.75 | -0.77 | 81246 | |
| Coromandel International | 793.75 | -1.87 | 160900 | 0 | 68.42 | Nifty Pharma | 13607.05 | -0.86 | 81249 | |
| Tata Consultancy Serv Lt | 3707.45 | -1.13 | 1690133 | 0 | 66.47 | Nifty Realty | 449.15 | 1.22 | 81249 | |
| Power Grid Corporation o | 209.65 | -0.52 | 7382003 | 0 | 65.56 | Nifty Auto | 10354.15 | -0.56 | 81249 | |
| Hdfc Ltd. | 2303 | -0.32 | 3418282 | 0 | 65 | Nifty Metal | 6500.2 | 0.03 | 81249 | |
| Marico Limited | 478.1 | -0.89 | 1468764 | 0 | 62.95 | Nifty Media | 2322.75 | 0.04 | 81249 | |
| Infosys Limited | 1876.55 | -0.54 | 3438588 | 0 | 62.42 | Nifty Financial Services | 16616.7 | -0.33 | 81249 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: Federal Fiscal Deficit (Feb) on 31th March, 2022
INR: Infrastructure Output (YoY) (Feb) on 31st Match, 2022 |
•USD: Retail Inventories Ex Auto (Feb) on 28th March, 2022
•USD: CB Consumer Confidence (Mar) on 29th March, 2022 |
NEWS UPDATES
- In a major twist, India’s leading multiplex chain PVR, which was earlier in advanced talks with the local unit of Mexican company Cinépolis for a possible merger, has decided to combine operations with the second largest multiplex chain, INOX Leisure. The boards of the two companies are meeting on Sunday, March 27, to approve the merger, said two people with direct knowledge of the development.
- Airline major IndiGo will launch 100 flights connecting key domestic metro cities and regional centres, starting from March 27, 2022. Accordingly, the airline will introduce flights on 20 exclusive routes effective March 27, 2022. Besides, it will commence Regional Connectivity Scheme (RCS) route from Prayagraj-Lucknow on the same day.
- Tata AIG, ICICI Lombard and Nippon Life are among 54 prominent Indian and foreign financial companies joining the race for the profit-making insurance arms of Reliance Capital, which was last year put under administration due to defaults and governance issues. The last day to submit expression of interest (EOI) was extended by two weeks to March 25 to give access to the latest information before they make financial bids.
- India’s largest gas utility GAIL (India) Ltd continues to pay for the LNG it imports from Russia’s Gazprom in US dollars and will seek exchange rate neutrality in case payments are sought in any other currency such as Euro, two sources said. GAIL has a deal to receive 2.5 million tonnes of liquefied natural gas (LNG) annually on a delivered basis from Russia’s Gazprom. This translates into 3 to 4 cargoes or ship loads of super-cooled natural gas every month.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint.
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| AMBITION | Quarterly Results | 28-Mar-22 | RRIL | Scheme of Arrangement | 28-Mar-22 |
| BARBEQUE | General | 28-Mar-22 | SEAMECLTD | Scheme of Arrangement | 28-Mar-22 |
| DISAQ | Interim Dividend | 28-Mar-22 | SUDARSCHEM | General | 28-Mar-22 |
| DOLFIN | Bonus issue;Increase in Auth. Capital | 28-Mar-22 | SUKHJITS | Preferential Issue of shares | 28-Mar-22 |
| EKI | Interim Dividend | 28-Mar-22 | UNISON | General | 28-Mar-22 |
| ELCIDIN | Voluntary Delisting of Shares | 28-Mar-22 | ADVANIHOTR | General | 29-Mar-22 |
| HALDYNGL | General | 28-Mar-22 | AML | General | 29-Mar-22 |
| INDRANIB | General;Preferential Issue of shares | 28-Mar-22 | ANG | General | 29-Mar-22 |
| JAIMATAG | General | 28-Mar-22 | ATAM | In. in Auth. Capital; Warrants;Pref. Issue | 29-Mar-22 |
| JYOTIRES | General | 28-Mar-22 | CANFINHOME | General | 29-Mar-22 |
| KAMAHOLD | Interim Dividend | 28-Mar-22 | COASTCORP | Right Issue of Equity Shares;General | 29-Mar-22 |
| LACTOSE | Preferential Issue of shares | 28-Mar-22 | DWARKESH | Interim Dividend | 29-Mar-22 |
| MAHACORP | General | 28-Mar-22 | EDELWEISS | Interim Dividend | 29-Mar-22 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| GOLDIAM | 28-Mar-22 | Stock Split From Rs.10/- to Rs.2/- | 7NR | 30-Mar-22 | Stock Split From Rs.10/- to Rs.1/- |
| SAIL | 28-Mar-22 | Interim Dividend – Rs. – 2.5000 | AMBUJACEM | 30-Mar-22 | Final Dividend – Rs. – 6.3000 |
| ARCFIN | 29-Mar-22 | Stock Split From Rs.10/- to Rs.1/- | CRISIL | 30-Mar-22 | Final Dividend – Rs. – 15.0000 |
| BEML | 29-Mar-22 | Interim Dividend – Rs. – 5.0000 | CRISIL | 30-Mar-22 | Special Dividend – Rs. – 7.0000 |
| GIANLIFE | 29-Mar-22 | Bonus issue 6:5 | DHAMPURSUG | 30-Mar-22 | Interim Dividend – Rs. – 6.0000 |
| HUDCO | 29-Mar-22 | Interim Dividend – Rs. – 0.7500 | GILADAFINS | 30-Mar-22 | Bonus issue 1:1 |
| SBILIFE | 29-Mar-22 | Interim Dividend – Rs. – 2.0000 | GILADAFINS | 30-Mar-22 | Stock Split From Rs.10/- to Rs.5/- |
| SUNCLAYLTD | 29-Mar-22 | Interim Dividend – Rs. – 44.0000 | NEPTEXP | 30-Mar-22 | Amalgamation |
Disclosure in pursuance of Section 19 of SEBI (RA) Regulation 2014
Elite Wealth Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only information in making their investment decision and must exercise their own judgment before making any investment decision.
For analyst certification and other important disclosures, see the Disclosure Appendix, or go to www.elitewealth.in. Analysts employed by Elite Wealth Limited are registered/qualified as research analysts with SEBI in India.( SEBI Registration No.: INH100002300)
Disclosure Appendix
Analyst Certification (For Reports)
Israil Khan, Elite Wealth Limited, suhail@elitewealth.in
The analyst(s) certify that all of the views expressed in this report accurately reflect my/our personal views about the subject company or companies and its or their securities. I/We also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report. Unless otherwise stated, the individuals listed on the cover page of this report are analysts in Elite Wealth Limited.
As to each individual report referenced herein, the primary research analyst(s) named within the report individually certify, with respect to each security or issuer that the analyst covered in the report, that:
(1) all of the views expressed in the report accurately reflect his or her personal views about any and all of the subject securities or issuers; and
(2) no part of any of the research analyst’s compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed in the report.
For individual analyst certifications, please refer to the disclosure section at the end of the attached individual notes.
Research Excerpts
This note may include excerpts from previously published research. For access to the full reports, including analyst certification and important disclosures, investment thesis, valuation methodology, and risks to rating and price targets, please visit www.elitewealth.in.
Company-Specific Disclosures
Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting https://www.elitewealth.in, or emailing research@elitestock.com with your request. Elite Wealth Limited may screen companies based on Strategy, Technical, and Quantitative Research. For important disclosures for these companies, please e-mail research@elitestock.com.
Options related research:
If the information contained herein regards options related research, such information is available only to persons who have received the proper option risk disclosure documents. For a copy of the risk disclosure documents, please contact your Broker’s Representative or visit the OCC’s website at https://www.elitewealth.in
Other Disclosures
All research reports made available to clients are simultaneously available on our client websites. Not all research content is redistributed, e-mailed or made available to third-party aggregators. For all research reports available on a particular stock, please contact your respective broker’s sales person.
Ownership and material conflicts of interest Disclosure
Elite Wealth Limited policy prohibits its analysts, professionals reporting to analysts from owning securities of any company in the analyst’s area of coverage. Analyst compensation: Analysts are salary based permanent employees of Elite Wealth Limited. Analyst as officer or director: Elite Wealth Limited policy prohibits its analysts, persons reporting to analysts from serving as an officer, director, board member or employee of any company in the analyst’s area of coverage.
Country Specific Disclosures
India – For private circulation only, not for sale.
Legal Entities Disclosures
Mr. Ravinder Parkash Seth is the Managing Director of Elite Wealth Ltd (EWL, henceforth), having its registered office at Casa Picasso, Golf Course Extension, Near Rajesh Pilot Chowk, Radha Swami, Sector-61, Gurgaon-122001 Haryana, is a SEBI registered Research Analyst and is regulated by Securities and Exchange Board of India. Telephone:011-43035555, Facsimile: 011-22795783 and Website: www.elitewealth.in
EWL discloses all material information about itself including its business activity, disciplinary history, the terms and conditions on which it offers research report, details of associates and such other information as is necessary to take an investment decision, including the following:
1. Reports
a) EWL or his associate or his relative has no financial interest in the subject company and the nature of such financial interest;
(b) EWL or its associates or relatives, have no actual/beneficial ownership of one per cent. or more in the securities of the subject company, at the end of the month immediately preceding the date of publication of the research report or date of the public appearance;
(c) EWL or its associate or his relative, has no other material conflict of interest at the time of publication of the research report or at the time of public appearance;
2. Compensation
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) EWL or its associates have not managed or co-managed public offering of securities for the subject company in the past twelve months;
(c) EWL or its associates have not received any compensation for investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(d) EWL or its associates have not received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(e) EWL or its associates have not received any compensation or other benefits from the Subject Company or third party in connection with the research report.
3 In respect of Public Appearances
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) The subject company is not now or never a client during twelve months preceding the date of distribution of the research report and the types of services provided by EWL