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 gain 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.
TECHNICAL PICKS
| COMPANY NAME | CMP | B/S | RATIONALE+ |
| TATASTEEL | 1308 | 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 1290 and for the target of 1340. |
| GUJGAS | 509 | 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 508 with a stop loss of 515 and target of 496. |
DERIVATIVE PICKS
| Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| TCS | 3600 PE | BUY | 71 | CMP | 55 | 100 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| ASHOKLEY.Mar 31 | 106.95 | 0.05 | 13.87 | 45540000 | COFORGE.Mar 31 | 4254.95 | -6.8 | 205.74 | 1700500 | |
| IDFC.Mar 31 | 56.25 | 0.09 | 2.31 | 81390000 | GAIL.Mar 31 | 144.95 | -4.58 | 22.88 | 31774900 | |
| M&M.Mar 31 | 736.5 | 0.12 | 6.05 | 16417100 | GUJGASLTD.Mar 31 | 509.35 | -4.53 | 27.51 | 3621250 | |
| WIPRO.Mar 31 | 585.3 | 0.16 | 3.69 | 33824800 | COALINDIA.Mar 31 | 179.35 | -3.89 | 14.75 | 35326200 | |
| MPHASIS.Mar 31 | 3231.45 | 0.23 | 1.64 | 1665475 | INDHOTEL.Mar 31 | 200.05 | -3.59 | 13.64 | 17926054 | |
| Short Covering | Long Unwinding | |||||||||
| MGL.Mar 31 | 762.3 | 0.11 | -0.63 | 3294000 | ABBOTINDIA.Mar 31 | 17577.4 | -1.9 | -0.08 | 32650 | |
| MIDCPNIFTY.Mar 29 | 6875.1 | 0.15 | -4.76 | 1500 | AUROPHARMA.Mar 31 | 630.45 | -1.14 | -0.43 | 14055750 | |
| SUNPHARMA.Mar 31 | 871.15 | 0.21 | -0.06 | 20507200 | MANAPPURAM.Mar 31 | 121 | -0.94 | -0.82 | 23805000 | |
| TRENT.Mar 31 | 1150.1 | 0.26 | -0.66 | 2832575 | PFIZER.Mar 31 | 4427.15 | -0.35 | -1.61 | 99125 | |
| GLENMARK.Mar 31 | 445.3 | 0.42 | -0.25 | 7300200 | DELTACORP.Mar 31 | 273.2 | -0.24 | -0.7 | 13008800 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Marico Limited | 500.8 | 1.66 | 1022074 | 0 | 79.43 | Nifty50 | 16594.9 | 1.53 | 80631 | |
| Pfizer Ltd. | 4390.2 | -0.77 | 41330 | 0 | 76.6 | Niftybank | 34475.6 | 1.95 | 80631 | |
| Abb Limited | 2157.95 | 0.71 | 145468 | 0 | 76.4 | Nifty it | 35399.1 | -0.12 | 80631 | |
| Colgate Palmolive (india | 1496.95 | 3.31 | 745076 | 0 | 73.06 | India Vix | 25.58 | -6.88 | 80631 | |
| Godrej Cons Products Ltd | 710.85 | 1.26 | 2212776 | 0 | 71.97 | Nifty Fmcg | 35530.3 | 3.03 | 80631 | |
| Icici Lombard General In | 1260.15 | 1.95 | 1099064 | 0 | 71.38 | Nifty Pharma | 13077.05 | 0.14 | 80631 | |
| Alembic Pharmaceuticals | 722.8 | 0.09 | 149939 | 0 | 71.32 | Nifty Realty | 428.2 | 2.23 | 80631 | |
| Itc Ltd. | 232 | 1.2 | 36132245 | 0 | 69.19 | Nifty Auto | 10019.35 | 1.9 | 80631 | |
| Dabur India Ltd. | 545.7 | 3.33 | 1658773 | 0 | 66.91 | Nifty Metal | 6161.95 | 2.28 | 80631 | |
| Kotak Mahindra Bank Limi | 1754.35 | 0.88 | 4188469 | 0 | 65.38 | Nifty Media | 2132.25 | 0.32 | 80631 | |
| Nifty Financial Services | 16134.95 | 1.83 | 80634 | |||||||
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: Industrial Production (YoY) (Jan) on 11th March, 2022
INR: Manufacturing Output (MoM) (Jan) on 11th March, 2022 |
•USD: Federal Budget Balance (Feb) on 11th March, 2022 |
NEWS UPDATES
- RattanIndia Enterprises has forayed into the drone business in the country through its wholly-owned subsidiary NeoSky and expects the commercial rollout of products in the first quarter of 2023, a senior company official said on Thursday. The company has earmarked an initial investment of Rs 100 crore in NeoSky, which will design, manufacture and sell consumer micro drones across India, RattanIndia Enterprises Business Chairperson Anjali Rattan Nashier told PTI.
- India Infrastructure Finance Company Ltd (IIFCL) on Thursday said it has raised Rs 6,000 crore in debt to provide impetus to government’s infrastructure vision. With a view to promote long term infrastructure finance in India, IIFCL after a span of eight years has raised funds from the domestic market through privately placed Non-Convertible Debt Securities for an amount of Rs 5,000 crore with a greenshoe option of Rs 1,000 crore, the company said in a statement.
- Zydus Lifesciences on Thursday said the US health regulator has issued three observations after inspecting its Jarod (Vadodara) based manufacturing facility. The US Food and Drug Administration (USFDA) inspected the injectable facility from February 24 to March 10, 2022. The inspection closed with three observations, the drug firm said in a regulatory filing.
- NMDC on Thursday said it has conducted an e-auction of 8,337 carats rough diamonds produced at its Panna diamond mines in Madhya Pradesh. In a statement, the state-owned miner said the e-auction process received an overwhelming response from Diamond merchants of Surat, Mumbai and Panna.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint.
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| AMARJOTHI | General | 11-Mar-22 | NBL | General | 12-Mar-22 |
| DHANVARSHA | Preferential Issue of shares | 11-Mar-22 | NIRMITEE | Increase in Authorised Capital;Bonus issue | 12-Mar-22 |
| GAIL | Interim Dividend;General | 11-Mar-22 | RPEL | General | 12-Mar-22 |
| HVL | General | 11-Mar-22 | ZPRBHSTE | General | 12-Mar-22 |
| KESARPE | General | 11-Mar-22 | 20MICRONS | General | 14-Mar-22 |
| MIRCH | Increase in Authorised Capital;Pref. Issue | 11-Mar-22 | AGIIL | Interim Dividend | 14-Mar-22 |
| RACE | General | 11-Mar-22 | AYOME | General | 14-Mar-22 |
| SHREYASI | General | 11-Mar-22 | BBOX | Stock Split | 14-Mar-22 |
| DATASOFT | General | 12-Mar-22 | JIGAR | General | 14-Mar-22 |
| GGENG | General | 12-Mar-22 | MIDHANI | Interim Dividend | 14-Mar-22 |
| GORANIN | Issue Of Warrants | 12-Mar-22 | NDASEC | General | 14-Mar-22 |
| MDRNSTL | Quarterly Results | 12-Mar-22 | PCS | General | 14-Mar-22 |
| MIC | General | 12-Mar-22 | PILITA | General | 14-Mar-22 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| SRTRANSFIN | 11-Mar-22 | Interim Dividend – Rs. – 12.00 | BCG | 15-Mar-22 | Bonus issue 2:3 |
| ARIHCAPM | 14-Mar-22 | Interim Dividend – Rs. – 0.7500 | RAJGLOWIR | 15-Mar-22 | Stock Split From Rs.10/- to Rs.2/- |
| DICIND | 14-Mar-22 | Final Dividend – Rs. – 3.00 | TVSELECT | 15-Mar-22 | Interim Dividend – Rs. – 2.00 |
| DICIND | 14-Mar-22 | Special Dividend – Rs. – 2.00 | DRCSYSTEMS | 16-Mar-22 | Stock Split From Rs.10/- to Rs.1/- |
| INFIBEAM | 14-Mar-22 | Bonus issue 1:1 | JINDALSTEL | 16-Mar-22 | Interim Dividend – Rs. – 1.00 |
| NLCINDIA | 14-Mar-22 | Interim Dividend – Rs. – 1.50 | KMSUGAR | 16-Mar-22 | E.G.M. |
| RKFORGE | 14-Mar-22 | Stock Split From Rs.10/- to Rs.2/- | METROBRAND | 16-Mar-22 | Interim Dividend – Rs. – 1.50 |
| AIML | 15-Mar-22 | Stock Split From Rs.10/- to Rs.1/- | RELTD | 16-Mar-22 | E.G.M. |
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