NIFTY:
Nifty opened at 16078 with a gap up of 65 points. The index initially went down for the first five minutes of trading and recorded its intraday low at 15990. Prices have started moving up after that. Minor dips in between quickly find support and bulls use these opportunities to buy more. The intraday range was wide today. Prices have moved up more than 400 points from its day low to day high , recorded its intraday high at 16418.05, and finally closed at 16345.35 with a gain of 331.90 points or 2.07% up. All the sectoral indices have seen an upside move today except the METAL that ended with a loss of 0.34%. FINANCIAL,MEDIA, AUTO ,and REALTY outperformed today and closed wit h impressive gains.
The short-term trend is changing to sideways today as the index broke above 16200 resistance and closed higher. The volatility index ‘INDIA VIX’ has seen a minor decline today but still moving around 28 which is very high. The first sign of low volatile markets will come when the VIX moves below 20. Strong support should emerge around 15500 while strong resistance is visible inside the 16800 – 16900 range. Carry forward traders should step aside while intraday traders should look for a buying opportunity.
BANK NIFTY:
BANK NIFTY opened at 33278.90 with a ga p up of just 72 points. The index first consolidated in a narrow range till the afternoon and recorded its intraday low at 32948.90. Prices broke out higher and saw a sharp rally to record its intraday high at 33969.50. The index finally closed at 33891.25 with a gain of 685 points. PVT and PSU BANKS both indices have performed almost same today, saw a sharp intraday rally and closed higher by nearly 2%. Within the index, in terms of points, HDFC BANK contributed the highest on the upside followed by SBIN.
It wiII be sideways if prices closed above 34000. Carry forward traders shouId avoid trading the index and wait markets to stabilize first. However, intraday traders should look for a buying opportunity on a dip or consolidation breakouts.
TECHNICAL PICKS
| COMPANY NAME | CMP | B/S | RATIONALE+ |
| NAUKRI | 4563 | 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 4500 and for the target of 4620. |
| COFORGE | 4556 | 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 4550 with a stop loss of 4600 and target of 4480. |
DERIVATIVE PICKS
| Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| RELIANCE | 2380 CE | BUY | 55 | CMP | 40 | 85 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| APOLLOHOSP.Mar 31 | 4738.55 | 0.06 | 1.35 | 2114000 | COFORGE.Mar 31 | 4591.6 | -4.57 | 21.71 | 602000 | |
| IPCALAB.Mar 31 | 1005.15 | 0.08 | 2.09 | 878400 | PETRONET.Mar 31 | 213.2 | -3.83 | 5.38 | 17340000 | |
| ABB.Mar 31 | 2142.8 | 0.11 | 5.91 | 331500 | BOSCHLTD.Mar 31 | 14268 | -2.34 | 10.29 | 143650 | |
| ABBOTINDIA.Mar 31 | 17790 | 0.12 | 1.39 | 32750 | ONGC.Mar 31 | 172.85 | -2.29 | 17.74 | 32447800 | |
| GSPL.Mar 31 | 269.65 | 0.13 | 26.28 | 1887000 | GAIL.Mar 31 | 151.4 | -2.1 | 11.93 | 25979900 | |
| Short Covering | Long Unwinding | |||||||||
| UPL.Mar 31 | 726.85 | 0.03 | -0.81 | 23760100 | NMDC.Mar 31 | 152.25 | -0.36 | -0.28 | 64018500 | |
| ALKEM.Mar 31 | 3291.5 | 0.4 | -2.29 | 213600 | MGL.Mar 31 | 762 | -0.03 | -0.36 | 3362400 | |
| BHEL.Mar 31 | 50.9 | 1.19 | -0.36 | 1.01E+08 | ||||||
| TATAPOWER.Mar 31 | 230.25 | 1.21 | -0.39 | 91482750 | ||||||
| GNFC.Mar 31 | 617.75 | 1.35 | -0.7 | 2211300 | ||||||
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Marico Limited | 492.6 | 0.4 | 2526968 | 0 | 76.34 | Nifty50 | 16345.35 | 2.07 | 77184 | |
| Whirlpool | 1589.9 | 1.31 | 242979 | 0 | 70.81 | Niftybank | 33815.45 | 1.98 | 77184 | |
| Alkem | 3276.6 | 0.34 | 122653 | 0 | 67.35 | Nifty it | 35440.55 | 1.1 | 77184 | |
| Pfizer Ltd. | 4424.1 | 0.95 | 69144 | 0 | 67.12 | Nifty Fmcg | 34486.95 | 1.41 | 77184 | |
| Icici Lombard General In | 1236.1 | 1.52 | 1380187 | 0 | 67 | Nifty Pharma | 13059.25 | 1.67 | 77184 | |
| Itc Ltd. | 229.25 | 1.04 | 42294906 | 0 | 65.25 | Nifty Realty | 418.85 | 3.05 | 77184 | |
| Hindustan Unilever Ltd | 1997.9 | 2.51 | 2879079 | 0 | 64.84 | Nifty Auto | 9832.35 | 2.85 | 77184 | |
| Colgate Palmolive (india | 1449.05 | 1.3 | 607334 | 0 | 64.49 | Nifty Metal | 6024.6 | -0.34 | 77184 | |
| Container Corp Of India | 594.6 | 4.42 | 700987 | 0 | 63.86 | Nifty Media | 2125.35 | 4.05 | 77184 | |
| Hdfc Ltd. | 2194.4 | 1.98 | 6114047 | 0 | 62.56 | Nifty Financial Services | 15845.5 | 2.04 | 77184 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: Industrial Production (YoY) (Jan) on 11th March, 2022
INR: Manufacturing Output (MoM) (Jan) on 11th March, 2022 |
•USD: Core CPI (MoM) (Feb) on 10th March, 2022
•USD: Initial Jobless Claims on 10th March, 2022 |
NEWS UPDATES
- Zydus Lifesciences on Wednesday said it has received approval from the US health regulator to market Nitroglycerin Sublingual tablets, used to treat chest pain, in the American market. The company has received approval from the US Food and Drug Administration (USFDA) for the drug in strengths of 0.3 mg, 0.4 mg and 0.6 mg, Zydus Lifesciences said in a statement.
- L&T Construction has won a significant order from Delhi Metro Rail Corporation (DMRC) to design and construct the underground metro project of Phase-IV of Delhi MRTS. L&T Construction is the construction arm of infrastructure major Larsen & Toubro (L&T). The major scope of work for the project includes design and construction of a 5-km twin tunnel, cut and cover tunnel box, underground ramp and four underground stations namely Chhatarpur, Chhatarpur Mandir, IGNOU and Neb Sarai with associated works of Aerocity to Tughlaqabad corridor.
- Kajaria Ceramics on Wednesday announced the launch of its largest store in the country to sell tiles and bathware products. The 100th Kajaria Eternity World showroom, which has come up in an 11,000 square feet area in Lajpat Nagar, offers tiles and Kerovit bathware products under one roof.
- Indian pharmaceutical major Dr. Reddy’s Laboratories Ltd said on Wednesday it was focused on business continuity in and around Russia, as Indian drug exporters brace for temporary disruptions to sales due to the Ukraine crisis.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint.
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| BCLIL | Interim Dividend | 10-Mar-22 | WARDINMOBI | General | 10-Mar-22 |
| DSSL | Employees Stock Option Plan | 10-Mar-22 | AMARJOTHI | General | 11-Mar-22 |
| HKG | General | 10-Mar-22 | DHANVARSHA | Preferential Issue of shares | 11-Mar-22 |
| INDINFO | General | 10-Mar-22 | GAIL | Interim Dividend;General | 11-Mar-22 |
| INDLEASE | General | 10-Mar-22 | HVL | General | 11-Mar-22 |
| JINDALSTEL | Interim Dividend | 10-Mar-22 | KESARPE | General | 11-Mar-22 |
| KABRADG | General | 10-Mar-22 | MIRCH | Preferential Issue of shares | 11-Mar-22 |
| MOTOGENFIN | General | 10-Mar-22 | RACE | General | 11-Mar-22 |
| PARACABLES | General | 10-Mar-22 | SHREYASI | General | 11-Mar-22 |
| RAMSARUP | Audited Results;Quarterly Results | 10-Mar-22 | DATASOFT | General | 12-Mar-22 |
| SAMPRE | Right Issue of Equity Shares;Pref. Issue | 10-Mar-22 | GGENG | General | 12-Mar-22 |
| SPANDANA | General | 10-Mar-22 | MDRNSTL | Quarterly Results | 12-Mar-22 |
| TARC | General | 10-Mar-22 | NBL | General | 12-Mar-22 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| 7TEC | 10-Mar-22 | Interim Dividend – Rs. – 1.0000 | ULTRACAB | 10-Mar-22 | Bonus issue 1:2 |
| ADVIKCA | 10-Mar-22 | Right Issue of Equity Shares | VISHAL | 10-Mar-22 | Bonus issue 2:1 |
| BCLENTERPR | 10-Mar-22 | Stock Split From Rs.10/- to Rs.1/- | SRTRANSFIN | 11-Mar-22 | Interim Dividend – Rs. – 12.0000 |
| BCLENTERPR | 10-Mar-22 | Bonus issue 1:1 | ARIHCAPM | 14-Mar-22 | Interim Dividend – Rs. – 0.7500 |
| EIDPARRY | 10-Mar-22 | Interim Dividend – Rs. – 5.5000 | DICIND | 14-Mar-22 | Final Dividend – Rs. – 3.0000 |
| MUL | 10-Mar-22 | Stock Split From Rs.10/- to Rs.1/- | DICIND | 14-Mar-22 | Special Dividend – Rs. – 2.0000 |
| RAINBOWF | 10-Mar-22 | Right Issue of Equity Shares | INFIBEAM | 14-Mar-22 | Bonus issue 1:1 |
| ULTRACAB | 10-Mar-22 | Stock Split From Rs.10/- to Rs.2/- | NLCINDIA | 14-Mar-22 | Interim Dividend – Rs. – 1.5000 |
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