outlookNIFTY:

The Nifty opened at 14669.10 with a gap up of 67 points. The index first moved up and recorded its intraday high at 15051.60. Prices did not sustain there for long. Around 11:00 AM prices have started drifting downwards, fallen almost 150 points and recorded its intraday low at 14890.65. Prices then traded choppy and sideways for the rest of the day and finally closed at 14910.45 with a loss of 19.05 points. The IT and FMCG have performed well and closed higher while Banks and Financials have led the bears. It was a volatile day in the Nifty where prices have seen wild swings in both direction and finally ended near its previous day closing price. A sharp decline in the middle of the trading session has erased all the morning gains and the Nifty ended just a tad above 14900 support. A trading range inside 14900-15200 remained intact. A breakdown of this range will give us a target of 14600.

Short term trend remains sideways. The range is very narrow. We may see a breakout on either side.

BANK NIFTY:

Bank Nifty opened at 35352 with a gap up of 139 points. The index recorded its intraday high at 35405 and then started moving down. Prices have seen mild rallies in between but the overall environment was bearish. PSU and Private Banks have both seen a decline for the whole day and closed lower. In terms of points Bandhan Bank contributed highest while ICICI Bank the lowest. It was a choppy day where prices have seen a decline with minor rallies. These rallies were being used to add or take fresh short positions.

A trading range of 35000-36500 has broken on the downside and index closed well below the 35000 support. Now this support should act as a resistance in the Bank Index.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
ASIANPAINTS 2468.60 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 2435 and for the target 2520
HINDUNILVR 2244.05 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 2220 and for the target 2280

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
L&TFH 105 CE BUY 4.35 CMP 3 7 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
MPHASIS.21.03 Mar 1737.2 6.23 47.48 399750 RAMCOCEM.21.03 Mar 1001.55 -1.07 12 1531700
LALPATHLAB.21.03 Mar 2553 5.52 24.18 188750 VOLTAS.21.03 Mar 1035.05 -2.64 10.53 2877000
COFORGE.21.03 Mar 3000 5.67 20.58 527250 BANKNIFTY.21.03 Mar 34930 -1.06 9.98 1470500
LTI.21.03 Mar 4143.95 1.02 16.78 289200 IOC.21.03 Mar 98.6 -1.74 9.44 72663500
APLLTD.21.03 Mar 924.35 1 15.44 283800 BAJAJ-AUTO.21.03 Mar 3669.05 -0.33 6.82 2329250
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
L&TFH.21.03 Mar 106.35 3 -6.75 27004024 FINNIFTYW.21.03 Mar 16231.7 -0.69 -3.39 4560
NIFTY.21.03 Mar 14974.5 0.04 -3.94 10751775 GAIL.21.03 Mar 141.4 -0.28 -2.01 29151900
MANAPPURAM.21.03 Mar 164.4 1.99 -3.59 18990000 SBIN.21.03 Mar 379.5 -1.54 -1.43 83877000
PFC.21.03 Mar 139.4 1.49 -3.04 33610200 BHEL.21.03 Mar 54 -2.35 -1.37 99561000
DRREDDY.21.03 Mar 4462 2.25 -2.65 3477125 HDFCBANK.21.03 Mar 1522.95 -0.82 -1.28 23205600

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Itc Ltd. 207.85 1.17 48763187 25130483 61.12 Nifty it 26363.85 1.27 76725
Petronet Lng Limited 236.8 -1.13 3677162 2017035 59.54 Nifty Fmcg 33351.75 0.89 76725
Hindustan Unilever Ltd 2244.05 1.5 2633605 956410 58.6 Nifty Auto 10350.8 0.15 76725
Max Financial Services l 875.9 -1.98 735304 686688 57.51 Nifty Media 1689.25 -0.08 76725
Icici Prudential Life In 443.9 -1.41 1879451 4611517 55.52 Nifty Pharma 12013 -0.1 76725
Infosys Limited 1384 0.76 9352771 3687770 55.38 Nifty 50 14910.45 -0.13 76725
Hdfc Ltd. 2510.4 -0.99 2446483 1595346 54.91 Nifty Energy 19293.2 -0.15 76725
Tata Consultancy Serv Lt 3110.05 1.43 4894756 1677136 54.15 Nifty Realty 346 -0.56 76725
Tata Consumer Products l 610.65 0.49 2480801 1456199 52.65 Nifty Metal 3847.25 -0.85 76725
Divi S Laboratories Limi 3378.25 -0.96 793917 428682 51.38 Nifty Bank 34804.6 -1.07 76725

Upcoming Economic Data

   Domestic                                                                                                                                                  International
INR:  FX Reserves, USD on 19th  March, 2021 •USD : Building Permits (Feb) on 17th March, 2021

•USD:  Crude Oil Inventories on 17th March, 2021

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News Updates

•Godrej Properties has got Rs 3,750 crore through the largest qualified institutional placement (QIP) of shares by a real estate company in India, said the Mumbai-based group on Tuesday. The QIP, which launched on March 9 and closed March 15, was set at Rs 1450 per share. It saw a strong mix of investors, with nearly 90 per cent of the book going to” long-only” investors.

•Drug firm Gland Pharma on Tuesday said it has entered into an agreement with the Russian Direct Investment Fund (RDIF) to supply up to 252 million doses of Sputnik V COVID-19 vaccine. The company “will be leveraging its manufacturing capabilities for the production of Sputnik V COVID-19 vaccine,” Gland Pharma said in a regulatory filing.

•CEAT Tyres is looking to double the number of standalone retail outlets in the next two years as it seeks to ride on the burgeoning demand for personal mobility in smaller towns and cities, the company’s top official said.

•Emami Agrotech – which has just entered the soya chunks segment – is eyeing 10-15 per cent of the West Bengal market in the next 2-3 years. Announcing the launch of soya chunks, which marks the entry of the company in the processed foods category, Krishna Mohan, director, Emami Agrotech, said, “West Bengal is the largest market for soya chunks and is estimated to account for more than one-third of national consumption.”

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
AUTOLITIND Preferential Issue of shares; Results 17-Mar-21 RIDDHI General 17-Mar-21
BALPHARMA General;Preferential Issue of shares 17-Mar-21 SOMANYCERA Interim Dividend 17-Mar-21
DLF General 17-Mar-21 SUCROSA General 17-Mar-21
EMERALL General;Stock  Split 17-Mar-21 TOWERINFRA General 17-Mar-21
GOTHIPL Interim Dividend;General 17-Mar-21 ARVSMART Preferential Issue of shares 18-Mar-21
INTSTOIL General 17-Mar-21 COASTCORP Issue Of Warrants 18-Mar-21
JTLINFRA Issue Of Warrants 17-Mar-21 GOCLCORP General 18-Mar-21
JYOTISTRUC Audited Results;Quarterly Results 17-Mar-21 HUDCO Interim Dividend 18-Mar-21
PHOTOQUP General 17-Mar-21 KWALITY Quarterly Results 18-Mar-21
QUANTDIA A.G.M.;General 17-Mar-21 SMRUTHIORG Bonus issue;General 18-Mar-21

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
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
MANVIJAY 17-Mar-21 Stock  Split From Rs.10/- to Rs.1/- ICICIGI 18-Mar-21 Interim Dividend – Rs. – 4.00
PARVATI 17-Mar-21 E.G.M. IIFLSEC 18-Mar-21 Interim Dividend – Rs. – 1.00
ASTRAL 18-Mar-21 Bonus issue 1:3 INFIBEAM 18-Mar-21 Bonus issue 1:1
BDL 18-Mar-21 Interim Dividend – Rs. – 6.70 RECLTD 18-Mar-21 Interim Dividend – Rs. – 5.00

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