outlookNIFTY:

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:

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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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
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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DERIVATIVE PICKS

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
Sectors Price Change % Quantity
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
Nestleind 16588.05 0.83 108786 137577 68.99 Nifty Metal 3867.45 0.91 82281
Alembic Pharmaceuticals 916.2 3.23 555759 167211 67 Nifty Energy 18991.75 0.03 82281
Alkem 2620.55 -0.16 120147 96150 66.93 Nifty 50 14736.4 -0.05 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

   Domestic                                                                                                                                                  International
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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News Updates

•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

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Board Meetings

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
KGPETRO General 23-Mar-21 ROYALIND General 24-Mar-21
MONEYBOXX General 23-Mar-21 SUNCLAYLTD Interim Dividend 24-Mar-21
NACLIND Interim Dividend 23-Mar-21 SVPHOUSING General 24-Mar-21
RAJNISH General 23-Mar-21 TVSMOTOR Interim Dividend 24-Mar-21
ROSSARI General 23-Mar-21 AHMDSTE General 25-Mar-21
SAREGAMA Interim Dividend;General 23-Mar-21 FERVENTSYN General 25-Mar-21
SPICEISL General 23-Mar-21 GVFILM General 25-Mar-21
UNJHAFOR General 23-Mar-21 JYOTIRES General 25-Mar-21

Corporate Action

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
LANCORHOL 23-Mar-21 E.G.M. RELTD 25-Mar-21 E.G.M.
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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