NIFTY:

The Nifty opened at 15049.90 with a gap up of 93 points. The index first traded narrow and sideways in the first half of the trading session. Around 12:00 PM, prices started drifting downwards and recorded its intraday low at 14925.45. The index finds intraday support there and starts an up move. Prices have rallied more than 200 points, recorded its intraday high at 15126.85 and finally closed at 15098.40 with a gain of 142.20 points. Banks and Financials have led the bulls while Media and Metals have underperformed and closed lower. The Nifty ended on a positive note above 15000. A gap up opened and a sharp rally in the second half of the day’s trading session helped the index close with a gain of almost 1%. Prices have been trading inside a large range and the range has remained intact.

We had suggested a trade in the direction of the breakout. This trade was not executed, continue with this strategy for today as well. Keep a stop of 120 points and a target of 300 points.

BANK NIFTY:

Bank Nifty opened at 35705.90 with a gap up of 398 points. The index first saw a minor decline and then rallied to record its intraday high at 36077.80. After that prices have seen a sharp decline to record its intraday low at 35544.95. Prices have then traded choppy and saw a minor rally in the last 30 minutes of trading and finally closed at 35865. Private Banks have outperformed and closed higher by 1.75% while PSU Banks underperformed and closed lower by 0.97%. Within the index, in terms of points HDFC Bank contributed highest while SBI the lowest.

It was another day where prices have traded very choppy and volatile.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
HDFCBANK 1562.5 BUY The stock has given a breakout from a narrow trading range. The stock can be bought bat CMP with a stop at 1545 and for the target 1585.
CHOLAIFN 544.40 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 536 and for the target 560

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
ASIAN PAINTS 2420 CE BUY 72.75 CMP 55 100 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
TRENT.21.03 Mar 910.6 2.4 15.06 509675 BPCL.21.03 Mar 444.9 -5.07 82.97 46638000
LTTS.21.03 Mar 2756.3 1.14 12.79 306800 AUBANK.21.03 Mar 1239.85 -2.4 53.63 1017000
MINDTREE.21.03 Mar 1806.75 2.76 12.77 1363200 GODREJPROP.21.03 Mar 1465.8 -0.66 16.03 2023450
COFORGE.21.03 Mar 2600.45 1 12.69 329625 HAVELLS.21.03 Mar 1105.65 -1.36 12.96 4629000
LTI.21.03 Mar 3924.5 1 6.59 145500 BEL.21.03 Mar 140.1 -3.51 8.84 37878400
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
FINNIFTYW.21.03 Mar 16809.35 3.15 -94.5 240 CUB.21.03 Mar 172.5 -1.74 -12.37 9200800
AARTIIND.21.03 Mar 1264.15 0.39 -10.56 342125 TORNTPOWER.21.03 Mar 417.1 -0.27 -7.09 2475000
NIFTY.21.03 Mar 15134.75 1.11 -9.91 11584575 ONGC.21.03 Mar 116.15 -1.86 -6.39 44221100
IRCTC.21.03 Mar 2031.55 0.23 -9.77 1740375 RAMCOCEM.21.03 Mar 1014.5 -0.01 -6 1505350
BANKNIFTY.21.03 Mar 35932.95 1.75 -6.84 1407825 PFIZER.21.03 Mar 4672.95 -0.13 -5.91 25875

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Alembic Pharmaceuticals 938.2 1.15 472633 191938 62.65 Nifty Bank 35865.65 1.67 19728042
Nestleind 16910.8 0.35 92717 57038 62.1 Nifty 50 15098.4 0.95 46895866
Kotak Mahindra Bank Limi 1978.95 3.29 7918345 2797333 59.54 Nifty it 25582.35 0.92 1280473
Britannia Ind Ltd. 3426.75 -1.05 589556 275008 59.27 Nifty Fmcg 33215.85 0.08 646003
Icici Prudential Life In 486.2 1.49 4139045 1402920 58.63 Nifty Auto 10464.25 -0.41 67214985
Au Small Finance Bank Li 1232.55 -2.49 2398975 534234 57.75 Nifty Pharma 12133.85 -0.87 57878172
Bharti Airtel Limited 521.75 -0.75 19809833 8587620 57.21 Nifty Realty 350.1 -1.09 2000756086
Alkem 2772.4 -0.48 93079 20589 57.16 Nifty Energy 19385.15 -1.35 6419869
Itc Ltd. 207.8 -0.1 22593086 12924091 56.22 Nifty Media 1724.75 -1.43 405710346
Piind 2280.8 0.55 202692 101030 56.18 Nifty Metal 3802.7 -2.51 182693811

Upcoming Economic Data

   Domestic                                                                                                                                                  International
INR: Industrial Production (YoY) (Jan) on 12th  March, 2021

INR: CPI (YoY) (Feb) on 12th  March, 2021

•USD : Crude Oil Inventories on 10th March, 2021

•USD:  Core CPI (MoM) (Feb) on 10th March, 2021

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News Updates

•Investors withdrew 172.2 billion rupees ($2.5 billion) from Indian stock and company debt mutual funds in February as concerns mount about the sustainability of returns. Corporate bonds saw the biggest outflow in about two years after the government last month announced a bigger-than-expected borrowing plan in its budget, triggering a spike in yields. Equity indexes, which benefit from a stimulus, surged to a fresh record, prompting local investors to book profits.

•Auto parts maker Craftsman Automation Ltd. will sell shares at Rs 1,488-1,490 apiece in its maiden offer next week, joining the IPO rush that has extended into 2021. The proposed Rs 824-crore IPO—the first by an auto company in nearly three years—comprises a fresh issue of Rs 150 crore, and an offer-for-sale of up to 45 lakh equity shares by promoters and existing investors, according to its red herring prospectus. The IPO is set to open on March 15 and close on March 17.

•JSW Energy has inked a business transfer agreement with JSW Cement for the sale of 18 megawatt (MW) thermal power plant at Salboni, in West Bengal for Rs 95.67 crore. Earlier, the board of JSW Energy had approved the sale of 18 MW thermal power plant at Salboni to JSW Cement Ltd on a going concern basis, subject to necessary approvals. The company also said that the transaction is a related-party transaction and is carried out at arm’s length based on a valuation by an independent registered valuer.

Source: Economic Times,  Moneycontrol  ,Business Today, Livemint, Business Standard, Bloomberg Quint

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Board Meetings

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
DRHABEEB General 10-Mar-21 QUICKHEAL Buy Back of Shares;ESOP 10-Mar-21
DSSL Issue Of Warrants;General 10-Mar-21 RAJNISH General 10-Mar-21
GRMOVER Interim Dividend;General 10-Mar-21 RECLTD Interim Dividend;General 10-Mar-21
IIFLSEC Interim Dividend 10-Mar-21 RIDHISYN Right Issue of Equity Shares;General 10-Mar-21
IMPEXFERRO General 10-Mar-21 SACHEMT Bonus issue;General 10-Mar-21
KALPACOMME General 10-Mar-21 SCANSTL General 10-Mar-21
MACKINN General 10-Mar-21 SHRIRAMEPC General 10-Mar-21
NDASEC General 10-Mar-21 SPACEAGE General;Preferential Issue of shares 10-Mar-21
POLYLINK General 10-Mar-21 SRMENERGY General 10-Mar-21
PRAKASHSTL General 10-Mar-21 TEJASSVI General 10-Mar-21

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
DICIND 10-Mar-21 Final Dividend – Rs. – 6.00 SOUTHBANK 15-Mar-21 E.G.M.
KIRLFER 10-Mar-21 Interim Dividend – Rs. – 2.00 MOLDTEK 16-Mar-21 Interim Dividend – Rs. – 0.60
MARICO 10-Mar-21 Interim Dividend – Rs. – 4.50 MOLDTKPAC 16-Mar-21 Interim Dividend – Rs. – 3.00
WANBURY 10-Mar-21 E.G.M. SMRUTHIORG 16-Mar-21 Bonus issue 2:1
WEPSOLN 10-Mar-21 Right Issue of Equity Shares SPMLINFRA 16-Mar-21 E.G.M.
COALINDIA 15-Mar-21 Interim Dividend – Rs. – 5.00 COMCL 17-Mar-21 E.G.M.

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