OutlookNIFTY:

The Nifty opened at 14471.15 with a gap down of  86 points. The index recorded its intraday low at 14350.10 within the first 20 minutes of trading and started moving higher. Prices have rallied more than 250 points from its intraday lows and then spent the afternoon trading choppy and sideways for almost 3 hours. Another rally came in the last one and half hour trading and the Nifty finally closed at 14744 with a gain of 186.15 points. All the sectoral indices except the Realty have seen an upside move and closed higher. Prices have seen a sharp intraday rally of almost 400 points and ended above 14700. It was a trend day on the upside where the intraday low was near the opening tick and intraday high near the closing tick. A decline from the last five trading days stopped. However the volatility is still high. Now we do not have any idea whether the rally was the beginning of a new up move or just a correction of the decline from 15200 to 14350. However the index keeps on recording wide range days suggesting narrow and choppy days are ahead. Strong support is visible around 14500 while strong resistance is visible around 15200. Prices have respected these levels on many occasions in the last 3 months of trading. That gives us a fairly large trading range of about 700 points.

BANK NIFTY:

Bank Nifty opened at 33590.40 with a gap down of 338 points. The index fell down further and recorded its intraday low at 33361. Prices then saw a stunning upside move for the whole day, recorded its intraday high at 34355.40 and finally closed at 34161 with a gain of 196 points. Private and PSU Banks both have seen an upside move and closed with gains. Within the index, in terms of points, ICICI Bank contributed highest while Kotak Bank the lowest. We had a short trade going on since 34500 and we decided to book around the opening tick. Fortunately the index opened with a gap down and we have closed our short trade with a gain of 900 points.

Bank Nifty stopped moving down after 5 days of sharp down move.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
CHOLAFIN 552.85 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 546 and for the target 565
IGL 511.20 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 505 and for the target 520

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
AMBUJACEM 285 CE BUY 4.05 CMP 2 7.4 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
FINNIFTY.21.03 Mar 15975 0.9 280.17 17640 PVR.21.03 Mar 1365.8 -2.26 11.82 1524622
CHOLAFIN.21.03 Mar 554.45 4.63 32.54 4887500 MOTHERSUMI.21.03 Mar 212.6 -2.05 11.73 30345000
POWERGRID.21.03 Mar 229 3.48 24.67 14980000 MFSL.21.03 Mar 860.15 -0.31 10.89 2489500
CUMMINSIND.21.03 Mar 887.1 4.07 23.61 1740000 APOLLOHOSP.21.03 Mar 2920 -1.41 7.6 1705500
GAIL.21.03 Mar 136.85 2.66 12.06 29810700 NATIONALUM.21.03 Mar 53.75 -2.36 7.43 67864000
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
NAM-INDIA.21.03 Mar 328.1 1.39 -9.13 1241600 GODREJPROP.21.03 Mar 1322.85 -2.15 -4.79 1822600
GUJGASLTD.21.03 Mar 519.8 0.42 -7.35 913750 SRF.21.03 Mar 5289.95 -0.18 -4.29 287500
IOC.21.03 Mar 96.1 1.53 -5.45 54450500 BAJAJFINSV.21.03 Mar 9449.65 -0.11 -3.86 541750
BANKNIFTY.21.03 Mar 34130 0.71 -5.26 1424300 PFC.21.03 Mar 124.25 -6.12 -3.53 31818400
SAIL.21.03 Mar 72.95 2.75 -5.12 77463000 MARUTI.21.03 Mar 7108.4 -0.15 -1.02 2132900

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Hindustan Unilever Ltd 2312.05 4.37 5382214 1703943 65.61 Nifty Energy 18985.4 3.16 81492
Icici Lombard General In 1436.6 -0.11 581236 252046 59.39 Nifty Fmcg 34028.35 2.43 81492
Nestleind 16450.85 1.54 199416 56531 58.66 Nifty Metal 3832.5 2.08 81492
Power Grid Corporation o 230.2 4.14 39563112 4673886 58.38 Nifty Pharma 11667.1 1.33 81492
Sbi Life Insurance Compa 906.7 1.82 2849173 1522514 57.28 Nifty 50 14744 1.28 81492
Petronet Lng Limited 224.1 -0.66 7375780 4123450 57.09 Nifty Media 1653.95 0.94 81492
Hdfc Ltd. 2531.65 0.68 5277763 1933529 55.87 Nifty Bank 34161.6 0.9 81492
Hindustan Petroleum Corp 234.75 0.47 6922401 4056423 54.83 Nifty it 25562.75 0.75 81492
Marico Limited 394.9 2.41 2834530 754113 54.54 Nifty Auto 10186.5 0.42 81492
Piind 2278.9 5.34 520752 96679 54.43 Nifty Realty 329.05 -0.53 81492

Upcoming Economic Data

   Domestic                                                                                                                                                  International
INR:  FX Reserves, USD on 26th  March, 2021

INR:  Bank Loan Growth  on 26th  March, 2021

•USD : Existing Home Sales (Feb) on 22nd March, 2021

•USD:  New Home Sales (Feb) on 23rd March, 2021

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News Updates

•Tata Motors Ltd. said former Daimler AG manager Marc Llistosella won’t be joining as its next chief executive officer as previously announced because he is unable to relocate to India for “personal reasons.” Guenter Butschek will continue as the company’s CEO and managing director until June 30, the company said in a filing Friday. Llistosella, who headed Daimler Trucks in Asia, was due to take charge in July, Tata announced on Feb. 12. Butschek, a former Airbus SE executive, has been CEO since 2016.

•Tata Consultancy Services (TCS), India’s largest information technology (IT) firm, is set to roll out salary hikes for all of its over 469,000 employees from April 2021 – the second raise in six months. TCS has also become the first IT services player to announce salary hikes for FY22.

•Reliance Industries (RIL) is likely to launch an affordable, 5G-ready Android smartphone in the next fiscal’s second quarter, as the conglomerate continues to woo the over-300 million feature phone users in India to switch to its telecom arm, Reliance Jio. People familiar with the matter said RIL is working on a May-June timeline to complete the R&D of the device, which is being developed in partnership with tech giant Google.

•Top automakers including Maruti Suzuki, Tata Group, and Mahindra and Mahindra have evinced an interest in setting up vehicle-scrapping units in public-private partnership mode and will respond to government tenders on this. The Ministry of Road Transport and Highways is aiming to set up 50 such facilities in the country by March 2023.

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
ANMOL Preferential Issue of shares 22-Mar-21 RAILTEL Interim Dividend;Quarterly Results 22-Mar-21
ARHNTTO General 22-Mar-21 SKC General 22-Mar-21
AUTOLITIND Quarterly Results 22-Mar-21 TELESYS General 22-Mar-21
CHARMS General 22-Mar-21 ULTRACAB General 22-Mar-21
COLPAL Interim Dividend 22-Mar-21 VAIBHAVGBL Stock  Split 22-Mar-21
DRA General 22-Mar-21 BLUECLOUDS Preferential Issue of shares 23-Mar-21
MISHKA General 22-Mar-21 IFCI Preferential Issue of shares 23-Mar-21
MYSPAPE General 22-Mar-21 KDDL Right Issue of Equity Shares;General 23-Mar-21
PATINTLOG Rights Issue 22-Mar-21 KGPETRO General 23-Mar-21
PROFINC Preferential Issue of shares 22-Mar-21 MONEYBOXX General 23-Mar-21

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
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
NATIONALUM 22-Mar-21 Interim Dividend – Rs. – 2.00 AGIIL 23-Mar-21 Interim Dividend – Rs. – 0.50
NMDC 22-Mar-21 Interim Dividend – Rs. – 7.7600 BEL 23-Mar-21 Interim Dividend – Rs. – 1.40

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