The Nifty opened at 14712.45 with a gap down of 102 points. The index recorded its intraday high at 14752.35 then fell down. Prices have seen a decline of almost 170 points and then started moving sideways. However in the last hour of trading, the index has seen another round of selling and finally closed at 14549.40 with a loss of 265.35. All the sectoral indices have seen a decline except Pharma. The Metal, Banks and Auto have led the bears and closed lower by more than 2%. A relied rally ended as the index closed below 14600. It was a trend day on the downside. Prices have resumed its short term down trend after three days of a relief rally. The index is now trading near its strong support at 14500. If prices breaks and closed below 14500 then the next support may emerge around 14200. As of now the short term trend is on the downside.
The trade was to buy above 14900 or sell short below 14700. Prices opened with a gap down but above 14700 and broke that level intraday. So our short trade was executed. We had suggested a stop of 120 points and a target of 280 points. We are advising traders to stayshort with a stop at breakeven and target near 14200.
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Bank Nifty opened at 33894.70 with a gap down of almost 329 points. The index seen a minor rally and recorded its intraday high at 33970.65 and then drifted downwards. Prices have seen an intraday decline of almost 600 points and then spent the rest of the day trading choppy and narrow. The index recorded its intraday low at 33376.75 and finally closed lower by more than 800 points. Private and PSU Banks have contributed in the decline and closed lower by almost 3%. Within the index in terms of points ICICI Bank contributed highest on the downside followed by Axis Bank. We have suggested a trade in the direction of breakout. The trade was to buy above 34400 or sell below 33200. We are recommending the same trade for today as the trade did not execute yesterday.
|AUROPHARMA||855.85||BUY||The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 840 and for the target 880.|
|ADANIENT||1025.45||SELL||The stock has given a breakdown from a narrow trading range. The stock can be sold at CMP with a stop at 1034 and for the target 1000.|
|STOCK OPTION||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|HINDALCO||315 PE||BUY||2.2||CMP||0.8||5||OI increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|BERGEPAINT.21.03 Mar||746||0.05||17.84||1431100||BHARATFORG.21.03 Mar||580.95||-2.39||31.74||3997500|
|ASIANPAINT.21.03 Mar||2445||1.28||10.62||1839900||NTPC.21.03 Mar||106.3||-2.39||29.59||30432300|
|CIPLA.21.03 Mar||789.75||1.5||4.69||6419400||DABUR.21.03 Mar||530.55||-0.7||28.31||5416250|
|MARICO.21.03 Mar||401.25||0.25||4.68||3492000||INDUSINDBK.21.03 Mar||962.15||-2.91||28.11||11379600|
|AUROPHARMA.21.03 Mar||858.65||1.32||2.84||3677700||GODREJCP.21.03 Mar||683.55||-1.04||24.8||3654000|
|Short Covering||Long Unwinding|
|Stocks||Price||Price%||OI%||OI||Stocks||Price||Price %||OI %||OI|
|MGL.21.03 Mar||1162.65||0.29||-17.93||343200||MINDTREE.21.03 Mar||1982.1||-1.46||-34.04||525600|
|AARTIIND.21.03 Mar||1325.55||2.48||-3.99||163625||M&MFIN.21.03 Mar||201.25||-4.58||-31.25||4216000|
|POWERGRID.21.03 Mar||220.4||0.25||-3.18||9148000||CHOLAFIN.21.03 Mar||548.5||-2.21||-30.26||1192500|
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Top Delivery Percentage
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|Power Grid Corporation o||221.05||0.94||13724418||15472550||71.53||Nifty it||25802.95||-1.16||81171|
|Alembic Pharmaceuticals||936.8||0.42||349869||558805||71.21||Nifty Fmcg||33987.1||-1.41||81171|
|Icici Lombard General In||1402.85||-2.45||430059||282311||66.79||Nifty 50||14549.4||-1.79||81171|
|Vedanta Limited||223.4||-0.16||20887559||11502620||63.36||Nifty Media||1592.35||-2.48||81171|
|Hindustan Unilever Ltd||2318.6||-0.8||1762743||1219523||61.89||Nifty Auto||9925.25||-2.58||81171|
|Hdfc Ltd.||2465.75||-1.76||3165420||2450626||61.56||Nifty Bank||33293.25||-2.61||81171|
|Infosys Limited||1353.75||-1.3||6134303||4362930||60.89||Nifty Realty||331.45||-2.94||81171|
|Indraprastha Gas Limited||515||-0.84||2439619||1965428||59.59||Nifty Metal||3717.55||-3.24||81171|
Upcoming Economic Data
|INR: FX Reserves, USD on 26th March, 2021
INR: Bank Loan Growth on 26th March, 2021
|•USD : Initial Jobless Claims on 25nd March, 2021
•USD: GDP (QoQ) (Q4) on 25th March, 2021
Get Stock Market Recommendation By Our Research Analysts
The Adani Road Transport Ltd (ARTL) on Wednesday said it has won a Rs 1039.90 crore highway project from NHAI in Telangana. The bid cost of the project is Rs 1,039.90 crore, it added. The construction period of the project is two years, while the operation period is 15 years, it noted. ARTL is a wholly-owned subsidiary of Adani Enterprises Limited (AEL), part of Adani Group.
Amid a spike in COVID-19 infections in some parts of the country, the Centre on Wednesday asked states and union territories to consider imposing local restrictions in public observance of the upcoming festivals and limit or do away with mass gatherings for effective control of the pandemic.
Escorts Limited’s Escorts Agri Machinery (EAM) division announced hike in prices of all its tractors with effect from 1 April, 2021. The price hike, the company said in a regulatory filing, is due to a steady rise in commodity prices.
Cadila Healthcare on Wednesday said the company and its subsidiary Zydus Pharmaceuticals (USA) Inc have reached a settlement with US-based firm Celgene Corporation, a wholly owned subsidiary of Bristol Myers Squibb, over patents for the anti-cancer drug Revlimid.
Privatisation of two public sector banks can impact their ratings as the government support to the two entities will disappear, India Ratings and Research said on Wednesday.
Source: Economic Times, Moneycontrol ,Business Today, Livemint, Business Standard, Bloomberg Quint
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|CGPOWER||General;Preferential Issue of shares||25-Mar-21||TERRASCOPE||General||25-Mar-21|
|GOVINDRU||Reduction of Capital||25-Mar-21||DSSL||Issue Of Warrants;General||26-Mar-21|
|JAYIND||General||25-Mar-21||INDSUCR||Issue Of Warrants;General||26-Mar-21|
|Company Name||Ex-Date||Purpose||Company Name||Ex-Date||Purpose|
|BPCL||25-Mar-21||Interim Dividend – Rs. – 5.00||AARTIDRUGS||30-Mar-21||Buy Back of Shares|
|HUDCO||25-Mar-21||Interim Dividend – Rs. – 0.7500||ACC||30-Mar-21||Final Dividend – Rs. – 14.00|
|RELTD||25-Mar-21||E.G.M.||COLPAL||30-Mar-21||Interim Dividend – Rs. – 20.00|
|GFLLIMITED||26-Mar-21||Spin Off||CRISIL||30-Mar-21||Final Dividend – Rs. – 14.00|
|INDIGRID||26-Mar-21||Right Issue of Equity Shares||EASTWEST||30-Mar-21||Stock Split From Rs.10/- to Rs.2/-|
|SPACEAGE||26-Mar-21||E.G.M.||EASTWEST||30-Mar-21||Bonus issue 1:4|
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