outlookNIFTY:

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:

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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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
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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DERIVATIVE PICKS

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
ASHOKLEY.21.03 Mar 117.05 -5.22 19.9 56718000
BPCL.21.03 Mar 428.6 -5.35 13.78 45727200
GLENMARK.21.03 Mar 460 -3.71 13.57 6921850
RBLBANK.21.03 Mar 222.9 -5.39 12.08 19531500
                                                                        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
UBL.21.03 Mar 1191.2 -2.01 -3.12 1237600

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
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
Nestleind 16455.75 -1.71 157173 49005 58.01 Nifty Metal 3752.7 -2.46 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

   Domestic                                                                                                                                                  International
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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News Updates

•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

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Board Meetings

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
GOCLCORP General 18-Mar-21 DIGJAMLTD General 19-Mar-21
HUDCO Interim Dividend 18-Mar-21 EMAMIPAP General 19-Mar-21
KWALITY Quarterly Results 18-Mar-21 KABRADG General 19-Mar-21
SMRUTHIORG Bonus issue;General 18-Mar-21 MANAPPURAM General 19-Mar-21
STARLENT General 18-Mar-21 MAYUKH Stock  Split 19-Mar-21
VIKASWSP General 18-Mar-21 SHINEFASH General 19-Mar-21
AARTIDRUGS Buy Back of Shares 19-Mar-21 SMCGLOBAL Voluntary Delisting of Shares 19-Mar-21
ASHIANA General 19-Mar-21 TIRUSTA General 19-Mar-21

Corporate Action

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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