The Nifty opened at 14855.50 with a big gap up of 134 points. The index recorded its intraday high at 14875.20 in its initial trades. In the first half, the index traded very choppy, narrow and sideways. In the second half around1:00 PM, prices started drifting downwards and recorded its intraday low at 14478.60. However in the last one and half hours trading prices, prices have seen some recovery and finally closed at 14557.85 with a loss of 163.45 points. The FMCG and Metal sector has performed better and closed with minor gains. The remaining sector indices have closed lower led by IT and Pharma. It was a trend day on the downside where the intraday high was near the opening tick and intraday low was near the closing tick. We have mentioned a trading range breakdown. A sharp fall brought prices to the pattern target of this breakdown near 14600.
The last few volatile session along with slight cooling towards the end of yesterday might bring us the next couple of days to be choppy and narrow.
We had suggested a short trade. The trade was to wait till 9:30 am and then look to see if break the first 15 minutes low. Prices recorded that low at 14808. Around 10:15 the low was broken and we took a short position. Our target of 220 points was hit around 2:00 PM.
Bank Nifty opened at 34577.50 with a gap up of 446 points. The index recorded its intraday high at 34759.85 and then traded sideways in the firsts half. Prices have seen a sharp decline in the second half and closed lower with a loss of more than 200 points. PSU Banks have continued to underperform and closed lower by 3%. Private Banks also closed lower by 1.54%. Within the index Bank Baroda contributed highest while ICICI Bank the lowest. We had suggested a sharp trade below the low of the first 15 minutes. We went short around 3500 with a stop of 400 points and target of 1000 points.
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|INDIGO||1719.95||BUY||The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 1695 and for the target 1755|
|DRREDDY||4212.75||SELL||The stock has given a breakdown from a narrow trading range. The stock can be sold at CMP with a stop at 4280 and for the target 4100|
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|STOCK OPTION||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|JSWSTEEL||420 CE||BUY||13||CMP||10||19||OI increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|INDIGO.21.03 Mar||1717||1.62||8.21||3170000||ASHOKLEY.21.03 Mar||114||-2.77||15.99||53919000|
|ONGC.21.03 Mar||109.55||0.6||7.72||41379800||BANKNIFTY.21.03 Mar||33959.75||-1.17||15.16||1612700|
|EICHERMOT.21.03 Mar||2663.1||0.48||6.69||2474150||HCLTECH.21.03 Mar||957||-3.58||11.89||17896900|
|SRTRANSFIN.21.03 Mar||1332.65||0.72||6.1||4204800||M&MFIN.21.03 Mar||202.25||-0.66||11.08||12228000|
|IDEA.21.03 Mar||10||1.52||5.33||873810000||GAIL.21.03 Mar||134||-1.87||8.5||29658200|
|Short Covering||Long Unwinding|
|Stocks||Price||Price%||OI%||OI||Stocks||Price||Price %||OI %||OI|
|CUMMINSIND.21.03 Mar||852.1||1.72||-4.8||1426800||FINNIFTYW.21.03 Mar||15849.55||-1.16||-68.49||4840|
|CONCOR.21.03 Mar||549.35||1.58||-3.38||6217614||CHOLAFIN.21.03 Mar||530.95||-0.24||-9.83||3740000|
|PNB.21.03 Mar||38.1||0.26||-2.28||178016000||AUBANK.21.03 Mar||1169.65||-0.09||-4.78||847000|
|MARUTI.21.03 Mar||7110.05||0.42||-1.86||2236500||MINDTREE.21.03 Mar||1965.15||-1.93||-4.66||1488000|
|BANDHANBNK.21.03 Mar||339.5||0.68||-1.83||17962200||TCS.21.03 Mar||3050.45||-2.36||-3.99||6687600|
Top Delivery Percentage
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|Hindustan Unilever Ltd||2215.2||-0.5||2597091||2867130||77.42||Nifty Fmcg||33222.6||0.08||84474|
|Aarti Industries Ltd.||1240.75||-3.74||119276||117103||64.71||Nifty Metal||3754.35||0.04||84474|
|Petronet Lng Limited||225.6||-1.42||7222957||3382374||63.99||Nifty Media||1638.5||-0.02||84474|
|Icici Prudential Life In||422.05||-1.05||2464248||3446683||61.67||Nifty Auto||10143.95||-0.15||84474|
|Dr. Reddys Lab Ltd||4212.75||-3.29||1210907||584437||61.26||Nifty Bank||33856.8||-1.09||84474|
|Alembic Pharmaceuticals||887.65||-1.61||218621||111947||57.99||Nifty Realty||330.8||-1.47||84474|
|Berger Paints (i) Ltd||704.9||-1.38||608978||477342||57.27||Nifty Energy||18404.4||-1.55||84474|
|Balkrishna Ind. Ltd||1582.65||-3.22||634847||244784||56.22||Nifty Pharma||11514.45||-2.32||84474|
|Sbi Life Insurance Compa||890.45||0.17||2657918||2138305||56.13||Nifty it||25373.35||-3.09||84474|
Upcoming Economic Data
|INR: FX Reserves, USD on 19th March, 2021||•USD : Existing Home Sales (Feb) on 22nd March, 2021
•USD: New Home Sales (Feb) on 23rd March, 2021
Get Stock Market Recommendation By Our Research Analysts
|•Billionaire Mukesh Ambani’s retail unit is already worth at least $100 billion, according to Jefferies, as the Asia’s richest man continues to build a tech behemoth. Of the overall valuation of Reliance Retail Ltd., $71 billion is contributed by core retail business, $4 billion by the connectivity or Jio stores, and $19 billion comes from the new e-commerce business, Jefferies said in its report.
•Moody’s Analytics on Thursday upgraded its GDP growth projection for India to 12% for calendar year 2021 from 9% estimated earlier holding that near-term prospects for Asia’s third largest economy have turned more favourable even while maintaining that a second wave of covid-19 remains a key risk to recovery.
•A Bill raising the foreign investment limit in insurance to 74 per cent ensures that control, ownership and money collected from policyholders stays in the country, Finance Minister Nirmala Sitharaman told Parliament on Thursday. Every insurance product, pricing, investment and marketing is regulated in the country, she said in reply to a debate in the Rajya Sabha, which passed the Bill.
•Investment firm TPG’s Rise Fund will invest USD 200 million in Airtel Africa’s mobile money business at a valuation of $2.65 billion, Bharti Airtel said on Thursday. Airtel Mobile Commerce BV is currently the holding company for several of Airtel Africa’s mobile money operations.
Source: Economic Times, Moneycontrol ,Business Today, Livemint, Business Standard, Bloomberg Quint
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|AARTIDRUGS||Buy Back of Shares||19-Mar-21||SMCGLOBAL||Voluntary Delisting of Shares||19-Mar-21|
|CHROMATIC||Quarterly Results||19-Mar-21||ZSARACOM||General;Preferential Issue||19-Mar-21|
|Company Name||Ex-Date||Purpose||Company Name||Ex-Date||Purpose|
|AMBUJACEM||19-Mar-21||Final Dividend – Rs. – 1.00||NATIONALUM||22-Mar-21||Interim Dividend – Rs. – 2.00|
|PFC||19-Mar-21||Interim Dividend – Rs. – 8.00||NMDC||22-Mar-21||Interim Dividend – Rs. – 7.7600|
|ALLCARGO||22-Mar-21||Interim Dividend – Rs. – 2.00||RAMCOCEM||22-Mar-21||Interim Dividend – Rs. – 3.00|
|GAIL||22-Mar-21||Interim Dividend – Rs. – 2.50||RAMCOIND||22-Mar-21||Interim Dividend – Rs. – 1.00|
|GRMOVER||22-Mar-21||Interim Dividend – Rs. – 20.00||RGL||22-Mar-21||Interim Dividend – Rs. – 4.50|
|MIDHANI||22-Mar-21||Interim Dividend – Rs. – 1.20||SWASTIKA||22-Mar-21||Interim Dividend – Rs. – 2.00|
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