NIFTY-24march

NIFTY:

The Nifty opened at 14768.55 with a gap up of 32 points. Prices have traded very narrow and choppy and saw movements on both sides.Prices have recorded its intraday low at 14707 and its intraday high at 14878.60. The index has seen a modest rally in the second half. However prices corrected in the last 30 minutes and finally closed at 14814.75. The Banks and Financials have seen an upside rally and closed higher while Media, Metal and FMCG dragged and closed lower.

Back to back choppy and narrow days in the Nifty after a sharp decline brought the index above 14800. As mentioned yesterday we have to identify and wait for a trade setup. Today, if the index goes above 14900 then we will assume a reversal and take a long trade there. But if the index breaks below 14700 then we will look to short sell the index. Keep a stop of 120 points and a target of 280 points form the entry level.

BANK NIFTY:

Bank Nifty opened at 33747.95 with a gap up of 66 points. The index first traded choppy and sideways then saw a sharp surge and then drifted downwards and then spent the rest of the day trading choppy and sideways. Prices closed with a gain of more than 500 points. PSU Banks have significantly performed better and closed higher by 2.91%. Private Banks also closed higher by 1.73%. Within the index, in terms of points HDFC Bank contributed highest while Kotak the lowest.

A narrow trading range is developing with support at 33300 and resistance at 34300. A breakout from this range may give us a trading opportunity.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
ICICI BANK 586.40 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 578 and for the target 600
BHARTI AIRTEL 529.25 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 522 and for the target 540

 

DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
HDFCBANK 1500 CE BUY 20 CMP 11 35 OI increase

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Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
AARTIIND.21.03 Mar 1288.4 0.65 33.68 327250 KOTAKBANK.21.03 Mar 1822.4 -0.25 28.47 10135600
APOLLOHOSP.21.03 Mar 2951.4 1.53 30.17 1596500 NTPC.21.03 Mar 108.9 -0.95 28.41 63423900
INDIGO.21.03 Mar 1769.5 3.55 28.89 2792500 MARICO.21.03 Mar 400.65 -0.48 28.35 7190000
ULTRACEMCO.21.03 Mar 6912 2.47 24.98 982600 GODREJCP.21.03 Mar 690.05 -0.82 26.08 6541000
BALKRISIND.21.03 Mar 1629 0.24 23.81 1302000 POWERGRID.21.03 Mar 219.55 -2.07 22.05 11956000
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
RAMCOCEM.21.03 Mar 986 1.2 -22.05 820250 IBULHSGFIN.21.03 Mar 212.1 -0.77 -19.57 16647000
AMARAJABAT.21.03 Mar 878.9 0.37 -21.22 1088000 ZEEL.21.03 Mar 213.15 -0.77 -17.01 30363000
L&TFH.21.03 Mar 100.6 1.11 -14.1 16910980 HDFCAMC.21.03 Mar 2886.3 -0.1 -10.33 326400
NAM-INDIA.21.03 Mar 339.1 0.95 -13.26 827200 CHOLAFIN.21.03 Mar 560.25 -1.7 -9.54 3057500
APOLLOTYRE.21.03 Mar 230.4 2.49 -12.26 7230000 ITC.21.03 Mar 222.6 -1.55 -9.43 61497600

 

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Icici Lombard General In 1438.15 0.25 422691 326419 69.98 Nifty Bank 34184.4 1.73 84868
Alkem 2597.5 -0.88 98033 81786 68.07 Nifty Realty 341.5 1.05 84868
Sbi Life Insurance Compa 898.9 -0.14 1642691 1025097 61.73 Nifty 50 14814.75 0.53 84868
Icici Prudential Life In 435.95 -0.41 2036779 2074822 61.14 Nifty Pharma 11907.2 0.48 84868
Colgate Palmolive (india 1569.8 -0.53 593680 508221 58.29 Nifty Auto 10187.65 0.47 84868
Nestleind 16681.35 0.56 100358 62670 57.61 Nifty it 26105.7 0.27 84868
United Spirits Limited 554.3 2.13 2741088 1936907 56.62 Nifty Energy 19005.55 0.07 84868
Alembic Pharmaceuticals 932.85 1.82 784748 314335 56.56 Nifty Media 1632.85 -0.29 84868
Hindustan Unilever Ltd 2337.3 -0.68 1970612 1393160 56.37 Nifty Fmcg 34473.75 -0.39 84868
Nippon Life India Asset 339.8 1.12 965907 587034 55.59 Nifty Metal 3841.95 -0.66 84868

 

Upcoming Economic Data

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

INR:  Bank Loan Growth  on 26th  March, 2021

•USD : Crude Oil Inventories on 24nd March, 2021

•USD:  GDP (QoQ) (Q4) on 25th March, 2021

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News Updates

  • The Supreme Court on Tuesday told lenders that they cannot charge interest on interest on the loan amount for all borrowers that was granted moratorium between March and August 2020 and said lenders have to refund the amount or the amount should be adjusted with the borrowers. The refund or the adjusted amount is likely to be in the range of Rs 7000 crore to Rs 8000 crore, rating agencies and analysts said.
  • Government-dictated price for natural gas produced by companies such as ONGC is likely to inch up marginally to USD 1.82 next week while the same for difficult fields like one operated by Reliance-BP may fall below USD 4, sources said. The price of gas, which is used to generate electricity, make fertiliser and convert into CNG for automobiles and cooking gas for households, is due to bi-annual revision next week.
  • Airtel Africa will sell 1,424 towers in Madagascar and Malawi to Helios Towers for USD 119 million, Bharti Airtel said in a regulatory filing. The two companies have also entered into agreement for tower assets in Chad and Gabon but particulars of the deal were not disclosed.
  • Pharma major Cipla on Tuesday said its board hasapproved the re-appointment of Umang Vohra as the Managing Director and Global CEO of the company for a further period of five years.

 

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
AFEL General 24-Mar-21 AHMDSTE General 25-Mar-21
BRAWN General 24-Mar-21 CGPOWER General;Preferential Issue 25-Mar-21
CELLA General 24-Mar-21 CHROMATIC Quarterly Results 25-Mar-21
GRASIM General 24-Mar-21 FERVENTSYN General 25-Mar-21
KRITINUT General 24-Mar-21 GOVINDRU Reduction of Capital 25-Mar-21
RAAJMEDI General 24-Mar-21 GVFILM General 25-Mar-21
ROYALIND General 24-Mar-21 HKG General 25-Mar-21
SUNCLAYLTD Interim Dividend 24-Mar-21 JAYIND General 25-Mar-21
SVPHOUSING General 24-Mar-21 JYOTIRES General 25-Mar-21
TVSMOTOR Interim Dividend 24-Mar-21 SBILIFE Interim Dividend 25-Mar-21
WOCKPHARMA General 24-Mar-21 SRTRANSFIN Interim Dividend 25-Mar-21

 

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
GOTHIPL 24-Mar-21 Interim Dividend – Rs. – 1.00 GFLLIMITED 26-Mar-21 Spin Off
SOMANYCERA 24-Mar-21 Interim Dividend – Rs. – 2.40 SPACEAGE 26-Mar-21 E.G.M.
TOWERINFRA 24-Mar-21 Income Distribution (InvIT) AARTIDRUGS 30-Mar-21 Buy Back of Shares
BPCL 25-Mar-21 Interim Dividend – Rs. – 5.00 ACC 30-Mar-21 Final Dividend – Rs. – 14.00
HUDCO 25-Mar-21 Interim Dividend – Rs. – 0.7500 COLPAL 30-Mar-21 Interim Dividend – Rs. – 20.00
RELTD 25-Mar-21 E.G.M. CRISIL 30-Mar-21 Final Dividend – Rs. – 14.00

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