The Nifty opened at 14736.30 almost at the previous day’s closing price. The index traded very choppy and narrow. In this process, prices have recorded its intraday low at 14597.85 and its intraday high at 14763.90. Prices have seen a sharp rally towards the end of the day’s trading session and finally closed without much change. The IT, FMCG, Pharma and Realty have favored the bulls while Banks and Financials have seen a decline and closed lower. It was a choppy day in the index where prices have seen a down move in the afternoon and then a rally in the last hour of trading. The index closed almost unchanged. Prices have remained above its strong support level of around 14500. If the index breaks this support then we may see prices below 14000. A large range inside 14500-15200 remained intact. We have seen a few wide range days in the last week so the next few days are most likely to be narrow and choppy.
We will get a trading opportunity if prices continue trading narrow and build a narrow trading range around current levels. We will then try to take a breakout trade. The long term trend is now down.
Bank Nifty opened at 34088.40 with a minor gap down. The index initially went down and then rallied to record its intraday high at 34148.90. Prices have continued trading choppy and sideways for the whole day, recorded its intraday low at 33389.15 and finally closed at 33603. Private and PSU Banks both have seen an upside move and closed with gains. Within the index, in terms of points Bandhan Bank contributed highest while HDFC Bank the lowest. It was a narrow and choppy day in the index. Prices have seen random movements and finally ended below 34000. The choppiness may continue for a few more days.
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|HINDALCO||339.75||BUY||The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 335 and for the target 347|
|BPCL||439.35||BUY||The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 434 and for the target 450|
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|STOCK OPTION||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|INFY||1360 CE||BUY||23.5||CMP||15||35||OI increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|UPL.21.03 Mar||625.9||0.03||15.63||16744000||MUTHOOTFIN.21.03 Mar||1235.1||-0.1||30.1||3666000|
|HCLTECH.21.03 Mar||977.8||1.66||15.49||14718900||INDUSINDBK.21.03 Mar||971.4||-4.23||19.15||22263300|
|HINDUNILVR.21.03 Mar||2348.05||1.51||14.27||6230400||FEDERALBNK.21.03 Mar||77.35||-0.83||17.59||77430000|
|TCS.21.03 Mar||3130||2.28||12.11||6555300||PVR.21.03 Mar||1330||-2.6||16.84||1513633|
|PIDILITIND.21.03 Mar||1763.8||0.59||12.1||1977500||HAVELLS.21.03 Mar||1032.65||-1.17||13.84||4903000|
|Short Covering||Long Unwinding|
|Stocks||Price||Price%||OI%||OI||Stocks||Price||Price %||OI %||OI|
|GRASIM.21.03 Mar||1419.8||0.27||-14.08||11091250||CUMMINSIND.21.03 Mar||889.1||-0.12||-17.08||1369200|
|RAMCOCEM.21.03 Mar||973.05||2.1||-12.18||1324300||IBULHSGFIN.21.03 Mar||213.7||-1.09||-10.52||23963000|
|ADANIPORTS.21.03 Mar||723.05||4.99||-9.98||47505000||L&TFH.21.03 Mar||99.35||-2.6||-6.28||21560384|
|MGL.21.03 Mar||1129.35||1.01||-9.19||943200||RECLTD.21.03 Mar||139.45||-2.92||-5.72||15228000|
|APLLTD.21.03 Mar||920.65||3.2||-8.94||235400||HEROMOTOCO.21.03 Mar||3107.05||-0.7||-5.6||3334200|
Top Delivery Percentage
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|City Union Bank Ltd.||169.65||0.06||986324||4502708||78.01||Nifty Realty||337.95||2.7||82281|
|Colgate Palmolive (india||1578.1||-0.05||871920||679894||73.35||Nifty it||26035.35||1.85||82281|
|Britannia Ind Ltd.||3564.4||2.82||820046||955510||72.81||Nifty Fmcg||34608||1.7||82281|
|Max Financial Services l||845.05||-1.73||650232||1940212||72.46||Nifty Pharma||11850.75||1.57||82281|
|Alembic Pharmaceuticals||916.2||3.23||555759||167211||67||Nifty Energy||18991.75||0.03||82281|
|Hindustan Unilever Ltd||2353.2||1.78||2471516||3540684||65.78||Nifty Auto||10140.45||-0.45||82281|
|Mah & Mah Ltd.||853.05||0.32||2906300||4837074||64.17||Nifty Media||1637.65||-0.99||82281|
|Aarti Industries Ltd.||1282.75||2.07||151246||319581||62.81||Nifty Bank||33603.45||-1.63||82281|
Upcoming Economic Data
|INR: FX Reserves, USD on 26th March, 2021
INR: Bank Loan Growth on 26th March, 2021
|•USD : New Home Sales (Feb) on 23rd March, 2021
•USD: Crude Oil Inventories on 24nd March, 2021
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|•Maruti Suzuki India on Monday said it will increase the prices of vehicles in April, citing the adverse impact of rising input costs over the past one year. “Over the past year the cost of company’s vehicles has been impacted adversely due to increase in various input costs,” the company said in an exchange filing.
•S&P Global Ratings on Monday affirmed state-owned oil producer Oil and Natural Gas Corporation’s (ONGC’s) senior unsecured notes at ‘BBB-’ with stable outlook as increasing adoption of renewable energy has raised risks for the longer-term profitability of global oil and gas producers.
•An increasing number of Indian customers are willing to buy electric vehicles of late, the government has been making a determined push towards electric mobility. According to the survey, 66% of customers are willing to buy electric vehicles, out of which 53% said they were strongly inclined to go electric. Among those surveyed, 13% are not yet ready for the transformation whereas 19% decline to go either way.
•The vehicle scrapping policy, proposed in Parliament last week, is unlikely to make people junk their old vehicles for new ones in a big way, owing to insufficient incentives offered by the government for replacement, a report said on Monday. Under the proposed policy, a scrapped vehicle will be offered a monetary value close to 4-6 per cent of the showroom value. There could even be up to 5 per cent discount on the purchase of a new vehicle if a scrap certificate is produced.
Source: Economic Times, Moneycontrol ,Business Today, Livemint, Business Standard, Bloomberg Quint
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|BLUECLOUDS||Preferential Issue of shares||23-Mar-21||CELLA||General||24-Mar-21|
|IFCI||Preferential Issue of shares||23-Mar-21||KRITINUT||General||24-Mar-21|
|KDDL||Right Issue of Equity Shares;General||23-Mar-21||RAAJMEDI||General||24-Mar-21|
|Company Name||Ex-Date||Purpose||Company Name||Ex-Date||Purpose|
|AGIIL||23-Mar-21||Interim Dividend – Rs. – 0.50||TOWERINFRA||24-Mar-21||Income Distribution (InvIT)|
|BEL||23-Mar-21||Interim Dividend – Rs. – 1.40||BPCL||25-Mar-21||Interim Dividend – Rs. – 5.00|
|IOC||23-Mar-21||Interim Dividend – Rs. – 3.00||HUDCO||25-Mar-21||Interim Dividend – Rs. – 0.7500|
|GOTHIPL||24-Mar-21||Interim Dividend – Rs. – 1.00||SPACEAGE||26-Mar-21||E.G.M.|
|SOMANYCERA||24-Mar-21||Interim Dividend – Rs. – 2.40||AARTIDRUGS||30-Mar-21||Buy Back of Shares|
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