The Nifty opened at 14946.55 with a gap up of 36 points. The index recorded its intraday high at 14956 and quickly fell down to fill the gap. In the afternoon, around 12:00 PM the index started moving downwards and recorded its intraday low at 14696.05. Another sharp decline came in the last 30 minutes of trading and the index finally closed at 14721.30 with a loss of 189.15 points. All the sectoral indices have closed lower led by Metals and Banks. It was a tale of two halves in the Nifty. Prices have traded narrow, choppy and sideways in the first half while a sharp decline came in the second half which forced the index to close near 14700. It was a trend day on the downside where the opening tick was near the intraday highs and closing tick was near the intraday lows. A trading range inside 14900-15200 has decisively broken on the downside. Short term trend is now on the downside. We should look for a shorting opportunity. The idea is to wait till 9:30 AM and then look to see if prices break the low recorded in the first 15 minutes of trading. Keep a stop of 110 points and a target of 220 points for the trade. The long and intermediate term trend is now down suggesting we may see lower levels ahead.
Bank Nifty opened at 34905.05 with a gap up of 91 points. The index traded sideways in the first half and recorded its intraday high at 35100.05. In the second half, prices have seen a sharp decline to record its intraday low at 34131.50 and finally closed at 34245. PSU Banks have significantly underperformed and closed lower by more than 3%. Private Banks have also closed lower by 1.54%. Within the index, in terms of points SBI contributed highest on the downside followed by Kotak Bank. We had suggested a short trade on a rally at 35200. Prices did see an upside move in the afternoon but did not reach 35200. Short term trend is down.
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|ITC||210.6||BUY||The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 208 and for the target 217|
|ONGC||109.35||SELL||The stock has given a breakdown from a narrow trading range. The stock can be sold at CMP with a stop at 112 and for the target 104.5|
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|STOCK OPTION||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|BRITANNIA||3450 CE||BUY||56.70||CMP||40||90||OI increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|PAGEIND.21.03 Mar||28753.7||0.16||5.3||61350||LTTS.21.03 Mar||2612||-6.41||39.31||562800|
|Short Covering||Long Unwinding|
|Stocks||Price||Price%||OI%||OI||Stocks||Price||Price %||OI %||OI|
|TCS.21.03 Mar||3123.9||0.01||-1.71||7317000||FINNIFTYW.21.03 Mar||15973.15||-1.61||-61.68||5840|
|INFY.21.03 Mar||1393.95||0.2||-1.59||28738200||NAVINFLUOR.21.03 Mar||2583||-3.28||-5.19||176625|
|ITC.21.03 Mar||211.25||1||-0.94||134796800||NAM-INDIA.21.03 Mar||332||-0.95||-4.19||1464000|
|INDIGO.21.03 Mar||1688.5||0.41||-0.4||3013500||MINDTREE.21.03 Mar||2016||-0.38||-3.72||1575200|
Top Delivery Percentage
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|Hindustan Unilever Ltd||2226.3||-0.79||3703365||1960819||74.45||Nifty Fmcg||33194.6||-0.47||80604|
|Petronet Lng Limited||228.85||-3.36||5285782||2285952||62.17||Nifty it||26183.5||-0.68||80604|
|Itc Ltd.||210.6||1.32||78578698||30295783||62.13||Nifty 50||14721.3||-1.27||80604|
|Dabur India Ltd.||527.55||-0.29||2054354||991841||58.89||Nifty Bank||34229.25||-1.65||80604|
|United Spirits Limited||537.75||0.03||3253910||1341986||58.82||Nifty Auto||10159.1||-1.85||80604|
|Britannia Ind Ltd.||3467.9||-0.61||378136||224199||58.52||Nifty Pharma||11787.5||-1.88||80604|
|Marico Limited||391.55||-0.84||2364847||1281416||57.97||Nifty Realty||335.75||-2.96||80604|
|Divi S Laboratories Limi||3378.3||0||547364||457380||57.61||Nifty Media||1638.9||-2.98||80604|
|Bharat Petroleum Ltd||432.05||-4.8||28849799||8684412||56.42||Nifty Energy||18693.95||-3.11||80604|
Upcoming Economic Data
|INR: FX Reserves, USD on 19th March, 2021||•USD : Philadelphia Fed Manufacturing Index (Mar) on 18th March, 2021
•USD: Initial Jobless Claims on 18th March, 2021
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|•The Ministry of Road Transport and Highways issued a new set of guidelines for the recall of defective vehicles by automobile manufacturers. As part of the new guidelines, the government has asked automobile companies to recall vehicles in case the number of complaints about a defective part in a particular model rises beyond a threshold.
•Vodafone Idea and Bharti Airtel are likely to resort to indirect methods to raise effective tariffs – without touching headline rates — and boost average revenue per user (ARPU) amid market leader Reliance Jio’s continued pricing aggression, say industry executives and analysts.
•India’s government is likely to leave the inflation targeting band for its central bank unchanged, according to people familiar with the matter, while policy makers remain focused on rising prices amid the rebound from the pandemic. A consumer-price inflation band tracked by the Reserve Bank of India is likely to be retained at the current 2%-6% range, said the people, who asked not to be identified citing rules before the framework is finalized by March 31.
•Hitachi ABB Power Grids in India has won an order worth Rs 124 crore from leading aluminium producer Bharat Aluminum Company (BALCO) to strengthen its power infrastructure at its plant in Chhattisgarh. All the equipment for this project is being manufactured domestically in line with the government’s Make-in-India drive and is aimed at ensuring the plant’s complex smelting operations run smoothly, helping BALCO meet its production enhancement plan, the company said in a statement.
Source: Economic Times, Moneycontrol ,Business Today, Livemint, Business Standard, Bloomberg Quint
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|ARVSMART||Preferential Issue of shares||18-Mar-21||BINANIIND||Quarterly Results||19-Mar-21|
|COASTCORP||Issue Of Warrants||18-Mar-21||CHROMATIC||Quarterly Results||19-Mar-21|
|AARTIDRUGS||Buy Back of Shares||19-Mar-21||SMCGLOBAL||Voluntary Delisting of Shares||19-Mar-21|
|Company Name||Ex-Date||Purpose||Company Name||Ex-Date||Purpose|
|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|
|DIXON||18-Mar-21||Stock Split From Rs.10/- to Rs.2/-||RITES||18-Mar-21||Interim Dividend – Rs. – 4.00|
|ENGINERSIN||18-Mar-21||Interim Dividend – Rs. – 1.40||TECHIN||18-Mar-21||E.G.M.|
|ICICIGI||18-Mar-21||Interim Dividend – Rs. – 4.00||AMBUJACEM||19-Mar-21||Final Dividend – Rs. – 1.00|
|IIFLSEC||18-Mar-21||Interim Dividend – Rs. – 1.00||PFC||19-Mar-21||Interim Dividend – Rs. – 8.00|
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