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 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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|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|
|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|
|Icici Lombard General In||1438.15||0.25||422691||326419||69.98||Nifty Bank||34184.4||1.73||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|
|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
|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
Get Stock Market Recommendation By Our Research Analysts
- 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
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|KRITINUT||General||24-Mar-21||GOVINDRU||Reduction of Capital||25-Mar-21|
|TVSMOTOR||Interim Dividend||24-Mar-21||SBILIFE||Interim Dividend||25-Mar-21|
|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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