Morning Outlook 21st March, 2022

BANK NIFTY:

BANK NIFTY opened at 36302 with a big gap up of 614 points. The index recorded its intraday low at 36261.65 a few ticks below the opening price and then started moving higher to record its intraday high at 36611.95. Prices then saw a decline and come close to its opening tick. The index finally closed at 36390.10 35688.05 wit ha gain of 702 points.

PVT BANKS have continued its outperformance and closed higher by 1.85%.PSU BANKS have also performed well today and closed higher by 0.90%. Within the index, in terms of points, HDFC BANK contributed the highest while AU BANK contributed the lowest.

The short-term trend is up. I he index has been moving higher since last week and rallied more than 4000 points from its recent swing lows. Resistance is now visible around 37000 while support should emerge around 35000.

TECHNICAL PICKS

COMPANY NAME	CMP	B/S	RATIONALE+
TATACHEM	939	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 930 and for the target of 960.
GUJGAS	504	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 500 with a stop loss of 510 and target  of 485.

DERIVATIVE PICKS

Stock Name	Strike Price	Buy/Sell	CMP	Initiation	Stop Loss	Target	Remarks
IRCTC	780 CE	BUY	21	CMP	15	35	OI Increase

Long Buildup						Short Buildup
Stocks	Price	Price%	OI %	OI		Stocks	Price	Price%	OI %	OI
TATACHEM.Mar 31	942.15	0.01	0.78	5033000		ABB.Mar 31	2099	-4.36	3.89	220500
IRCTC.Mar 31	769.6	0.03	0.7	10259375		LALPATHLAB.Mar 31	2620	-2.47	15.08	743875
PERSISTENT.Mar 31	4445.5	0.08	57.58	473700		ATUL.Mar 31	9683.8	-2.15	0.92	107175
CUB.Mar 31	121.15	0.08	5.56	10771200		APOLLOHOSP.Mar 31	4857.1	-2.04	4.83	2136125
FSL.Mar 31	126.15	0.08	1.41	14799200		HONAUT.Mar 31	39284.9	-1.45	2.72	9060
Short Covering						Long Unwinding
INDUSINDBK.Mar 31	933.25	0.02	-3.95	24234300		OBEROIRLTY.Mar 31	916.6	-1.32	-0.78	2046800
LAURUSLABS.Mar 31	582.25	0.13	-2.76	5778000		AUBANK.Mar 31	1166.45	-1.24	-1.1	2419500
BHEL.Mar 31	51.6	0.29	-0.71	94416000		BALRAMCHIN.Mar 31	481	-1.2	-0.75	6355200
TECHM.Mar 31	1500	0.38	-0.22	13686600		ABBOTINDIA.Mar 31	17338.6	-0.33	-0.88	30800
MCX.Mar 31	1425	0.39	-1.47	1951250		PNB.Mar 31	35.95	-0.28	-2.23	1.66E+08

TOP DELIVERY PERCENTAGE

Stocks	Price	%Chg	Total Qty	Delivery	Del %			% Change
							Sectors	Price	Change %	Quantity
Tata Consultancy Serv Lt	3672.75	0.46	3600452	0	76.85		Nifty50	17287.05	1.84	83916
Gmr Infrastructure Limit	38.15	-0.91	35106874	0	74.93		Niftybank	36428.55	1.9	83916
Alkem	3438.95	0.7	120404	0	71.47		Nifty it	35643.6	-0.24	83916
Escorts India Ltd.	1837.5	0.56	674657	0	69.92		India Vix	22.61	-6.26	83916
Abbott India Limited	17257.9	-0.37	14542	0	68.92		Nifty Fmcg	36782.7	1.4	83916
Bosch Limited	14585.75	3.58	95719	0	68.75		Nifty Pharma	13546.05	1.28	83916
Power Grid Corporation o	211.55	1.05	21348466	0	68.54		Nifty Realty	450.75	3.13	83916
Oracle Fin Serv Soft Ltd	3553.55	0.57	114134	0	66.63		Nifty Auto	10576	2.18	83916
Hdfc Bank Ltd.	1480.05	2.2	7411977	0	66.04		Nifty Metal	6183.8	1.95	83916
Sbi Life Insurance Compa	1128.55	3.94	1867149	0	65.35		Nifty Media	2171.75	1.13	83916
Icici Prudential Life In	492.3	5.08	2725253	0	65.04		Nifty Financial Services	17137.4	2.77	83919

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

• SBI has lined-up a dozen non-performing assets (NPAs) on sale to recover loan dues of over Rs 820 crore, as per the bank’s notifications. In terms of the bank’s policy on sale of financial assets, in line with the regulatory guidelines, SBI said it has placed these accounts for sale to asset reconstruction companies (ARCs)/banks/Non-Banking Financial Companies (NBFCs)/financial institutions (FIs), on the terms and conditions indicated there against.
• Tata Motors, the country’s biggest automotive company by revenue, is in advanced negotiations to take over Ford India’s Sanand plant in Gujarat, several people aware of the talks told ET. The US carmaker had announced its exit from the local automobile market in September last year. Tata Motors is the leading contender in the race to acquire one of the two Ford factories in India. Its rivals for the manufacturing facility include MG Motor and Bhavish Aggarwal-promoted Ola.
• India’s oil imports from the United States will rise by 11% this year, officials said on Saturday, as the severely energy-deficient country looks to secure supplies from producers around the world, including heavily sanctioned Russia. The surge in oil prices following Russia’s invasion of Ukraine last month threatens to fan Indian inflation, stretch public finances and hurt growth just when it was emerging from a pandemic-induced slowdown.
• Suzuki Motor Corporation on Sunday said it will invest around 150 billion yen (about Rs 10,445 crore) by 2026, for local manufacturing of Battery Electric Vehicles (BEV) and BEV batteries in Gujarat The company, a leader in the mass market segment, has maintained that at the current prices it would be difficult to sell affordable EVs at mass scale.

Source: Economic Times,  Indian Express  ,Business Today, Livemint, Business Standard, Bloomberg Quint.

BOARD MEETINGS

Company Name	Purpose	Ex-Date	Company Name	Purpose	Ex-Date
ALANKIT	General	21-Mar-22	RITHWIKFMS	General	21-Mar-22
BENARA	General	21-Mar-22	SRINACHA	General	21-Mar-22
DHAMPURSUG	Interim Dividend	21-Mar-22	TELECANOR	Preferential Issue of shares;General	21-Mar-22
DSSL	General	21-Mar-22	BEML	Interim Dividend	22-Mar-22
FEDDERELEC	General;Audited Results	21-Mar-22	DUCON	General	22-Mar-22
HEXATRADEX	Voluntary Delisting of Shares	21-Mar-22	HUDCO	Interim Dividend;General	22-Mar-22
INDRANIB	Preferential Issue of shares;General	21-Mar-22	IBULHSGFIN	General	22-Mar-22
ISWL	General	21-Mar-22	MUDUNURU	Preferential Issue of shares;General	22-Mar-22
MADHAV	General	21-Mar-22	PHOTOQUP	General	22-Mar-22
NAVODAYENT	General	21-Mar-22	PRECISION	General	22-Mar-22
PROFINC	Bonus issue;Stock  Split	21-Mar-22	ROSSELLIND	Preferential Issue of shares	22-Mar-22
RECLTD	General	21-Mar-22	SATIN	General	22-Mar-22
REGTRUS	Buy Back of Shares	21-Mar-22	SBICARD	Interim Dividend	22-Mar-22

CORPORATE ACTION

Company Name	Ex-Date	Purpose	Company Name	Ex-Date	Purpose
ADVIKLA	21-Mar-22	E.G.M.	MIDHANI	22-Mar-22	Interim Dividend – Rs. – 1.5600
BPCAP	21-Mar-22	E.G.M.	VSL	22-Mar-22	E.G.M.
GAIL	21-Mar-22	Interim Dividend – Rs. – 5.0000	MOLDTEK	23-Mar-22	Interim Dividend – Rs. – 1.7000
SPVGLOBAL	21-Mar-22	Right Issue of Equity Shares	ALLCARGO	24-Mar-22	Interim Dividend – Rs. – 3.0000
VIRINCHI	21-Mar-22	Bonus issue 1:1	BEL	24-Mar-22	Interim Dividend
AGIIL	22-Mar-22	Interim Dividend – Rs. – 1.0000	DJML	24-Mar-22	Bonus issue 1:1
BCLIL	22-Mar-22	Interim Dividend – Rs. – 2.0000	NDL	24-Mar-22	Bonus issue 2:1
DCW	22-Mar-22	E.G.M.	RITES	24-Mar-22	Interim Dividend – Rs. – 7.5000

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