OutlookNIFTY:

The Nifty opened at 15048.40 with a gap up just 18 points. The index recorded its intraday high at its opening tick an fell down. Prices have seen a sharp decline of more than 300 points to record its intraday low at 14745.85. The index then traded very narrow and sideways. Prices started moving around 1:15 PM and rallied more than 200 points to finally close at 14929.50 with a loss of 101.45 points. The Metal and IT sectors have performed well and closed higher while the rest of the sectoral indices have closed lower led by Financials. We had suggested a trade in the direction of a breakout. The trade was to buy above 15200 or sell below 14900. The index broke its support of 14900 after 9.30 so we took a short trade there. Prices went in our favour immediately but did not sustain lower long enough. Stay short with a stop at 15200 and a target of 14600.

It was a volatile day in the Nifty where prices have seen sharp moves in both directions. First a downside move of 300 points and then a rally of more than 200 points helped the index to close above 14900. Short term trend is now sideways and it will be down if Nifty closes below support of 14900.

BANK NIFTY:

Bank Nifty opened at 35544.25 with a gap up of 91 points. The index recorded its intraday high at the same level and then fell down. Prices have recorded its intraday low at 34430.65 and then started moving higher. With the help of a sharp rally in the last hour of trading, the index closed at 35182. Private Banks have underperformed and closed lower while PSU Banks have performed well and closed with marginal gains. Within the index, in terms of points, SBI contributed highest while HDFC Bank the lowest. A gap up opening did not sustain and prices quickly fell down.

A trading range of 35000-36500 has broken on the downside but prices have come back inside the range in the last hour of trading.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
JSWSTEEL 429.65 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 425 and for the target 440
LUPIN 1062.70 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 1045 and for the target 1090

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
LICHSGFIN 420 PE BUY 12.50 CMP 8.50 20 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
COFORGE.21.03 Mar 2838.05 3.91 37.07 449250 AUBANK.21.03 Mar 1197.3 -4.55 24.36 1072000
LALPATHLAB.21.03 Mar 2429.5 3.88 14.37 153250 TRENT.21.03 Mar 846.5 -3.82 21.69 585800
BANKBARODA.21.03 Mar 79.25 2.26 13.84 112706100 APLLTD.21.03 Mar 913.05 -2.84 16.17 276650
TORNTPOWER.21.03 Mar 415.6 0.31 12.9 2940000 ICICIPRULI.21.03 Mar 451 -2.52 14.27 8563500
MPHASIS.21.03 Mar 1632.2 0.59 9.11 272350 BANDHANBNK.21.03 Mar 340.4 -2.58 13.27 20417400
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
BHEL.21.03 Mar 55.1 2.8 -5.02 110166000 FINNIFTYW.21.03 Mar 16344 -1.08 -65.42 4800
COALINDIA.21.03 Mar 146.85 0.44 -3.69 39198600 BANKNIFTY.21.03 Mar 35336.35 -0.52 -6.6 1433500
IOC.21.03 Mar 100.45 0.6 -2.38 68822000 PFC.21.03 Mar 137.15 -0.8 -4.18 37925400
TVSMOTOR.21.03 Mar 593.5 1.02 -2.32 4244800 AMARAJABAT.21.03 Mar 895.05 -0.33 -3.61 2373000
BOSCHLTD.21.03 Mar 15070 1.06 -1.71 89300 M&MFIN.21.03 Mar 206.9 -0.96 -3.53 12344000

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Hindustan Unilever Ltd 2210.85 0.28 1632088 1361752 66.79 Nifty Metal 3880.05 1.04 81441
Infosys Limited 1373.6 -0.09 6658665 6173518 65.24 Nifty it 26032.05 0.56 81441
Nippon Life India Asset 340.15 -1.86 807586 499906 62.69 Nifty Energy 19322.9 0.02 81441
Petronet Lng Limited 239.5 -1.05 3387729 2514937 61.21 Nifty Fmcg 33058.85 -0.03 81441
Hdfc Ltd. 2535.5 -1.27 2905477 2120223 60.8 Nifty Realty 347.95 -0.4 81441
Nestleind 16833.05 0.66 68983 51135 60.22 Nifty Auto 10335.1 -0.47 81441
City Union Bank Ltd. 171.2 -0.58 2147412 2300892 59.45 Nifty 50 14929.5 -0.67 81441
Britannia Ind Ltd. 3450.4 0.47 311078 199711 58.02 Nifty Bank 35182.55 -0.88 81441
Piind 2234.7 -0.61 146902 57952 57.99 Nifty Pharma 12024.5 -1.31 81441
Alkem 2685.9 -3.16 136077 81520 55 Nifty Media 1690.55 -1.44 81441

Upcoming Economic Data

   Domestic                                                                                                                                                  International
INR:  FX Reserves, USD on 19th  March, 2021 •USD : Retail Sales (MoM) (Feb) on 16th March, 2021

•USD:  Core Retail Sales (MoM) (Feb) on 16th March, 2021

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News Updates

•Jindal Steel & Power Ltd.’s domestic sales fell for the second straight month to the lowest since April prompting the company to focus on exports. The steelmaker’s sales dropped 6% over the preceding month to 5.45 lakh tonnes in February, according to an exchange filing. Still, shipments were nearly 14% higher year-on-year. According to Edelweiss Securities’ channel check, JSPL’s domestic sales were down because of buyers’ reluctance despite price cuts in February.

•Amid record-high fuel prices, Finance Minister Nirmala Sitharaman on Monday said there is no proposal as of now to bring crude oil, petrol, diesel, jet fuel (ATF) and natural gas under the Goods and Services Tax (GST). When the GST was introduced on July 1, 2017, amalgamating over a dozen central and state levies, five commodities – crude oil, natural gas, petrol, diesel, and aviation turbine fuel (ATF) – were kept out of its purview given the revenue dependence of the central and state governments on this sector.

•Power technology major Hitachi ABB Power Grids is betting on growth in renewable energy (RE) in India and evacuation of the same. The company registered a 200 per cent year-on-year growth in the renewables segment with about 8.5 GW of cumulative solar orders from major energy companies.

•The recent economic data, especially the inflation trajectory, has been a cause for concern for experts. The spike in inflation comes on the back of a steady rise in crude oil prices at the global level, which have fed into a rise in the auto fuel pump prices back home.

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
AUTOIND Preferential Issue of shares 16-Mar-21 AUTOLITIND Preferential Issue;Results 17-Mar-21
BEL Interim Dividend 16-Mar-21 BALPHARMA General;Preferential Issue 17-Mar-21
BHARATWIRE Preferential Issue of shares 16-Mar-21 DLF General 17-Mar-21
BPCL Interim Dividend 16-Mar-21 EMERALL General;Stock  Split 17-Mar-21
CELLA General 16-Mar-21 GOTHIPL Interim Dividend;General 17-Mar-21
EUREKAI General 16-Mar-21 INTSTOIL General 17-Mar-21
INDIGRID General;Rights Issue 16-Mar-21 JYOTISTRUC Audited Results;Quarterly Results 17-Mar-21
IOC Interim Dividend 16-Mar-21 PHOTOQUP General 17-Mar-21
MRP General 16-Mar-21 QUANTDIA A.G.M.;General 17-Mar-21
PACL Preferential Issue of shares 16-Mar-21 RIDDHI General 17-Mar-21

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
MOLDTEK 16-Mar-21 Interim Dividend – Rs. – 0.60 MANVIJAY 17-Mar-21 Stock  Split From Rs.10/- to Rs.1/-
MOLDTKPAC 16-Mar-21 Interim Dividend – Rs. – 3.00 PARVATI 17-Mar-21 E.G.M.
SMRUTHIORG 16-Mar-21 Bonus issue 2:1 ASTRAL 18-Mar-21 Bonus issue 1:3
SPMLINFRA 16-Mar-21 E.G.M. BDL 18-Mar-21 Interim Dividend – Rs. – 6.70
COMCL 17-Mar-21 E.G.M. DIXON 18-Mar-21 Stock  Split From Rs.10/- to Rs.2/-
KIRLOSENG 17-Mar-21 Interim Dividend – Rs. – 1.50 ENGINERSIN 18-Mar-21 Interim Dividend – Rs. – 1.40

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