The Nifty opened at 14570.90 with a minor gap up. The index did not sustain there and started drifting downwards. Prices have seen an intraday decline of 311 points and recorded its intraday low at 14264.40. Prices then moved up almost 230 points and then again fell down in the last 30 minutes of trading. The index finally closed at 14324.90 down by 224.50 points. All the sectoral indices have closed with losses led by Auto, FMCG, IT and Media as they have closed lower by more than 2%. We took a short trade around 14700 with a revised stop at breakeven 14700 and a target at 14420. After opening with a minor gap up, the index fell down and reached our target price around 10:00 AM. We have closed our short trade there with a gain of 280 points. This is more than enough as we were in the trade only for two days.
The Nifty traded very volatile. First a decline of more than 300 points then a rally of more than 200 points and then again a decline of more than 200 points. This is a very volatile movement for a single day. Short term trend is still on the downside. The index has started making a bearish pattern of lower highs and lower lows. A resistance is visible around 14700 while support is visible around 14200.
Bank nifty opened at 33420.75 with a minor gap up. The index started moving down from its opening tick and recorded its intraday low at 32415.25. Prices have then seen a sharp upside move to record its intraday high at 33550.15 and finally closed at 33006. PSU Banks have significantly underperformed and closed lower by 2.38%. Private banks also closed lower by 0.73%. Within the index, in terms of points ICICI Bank contributed highest while Axis the lowest. We had suggested a trade in a direction of a breakout. The trade was to buy above 34400 or sell below 33200. The break down of 33200 was seen in the morning so we took a short trade there. Prices have neither touched our stop loss or target.
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|ICICIBANK||571.55||BUY||The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 560 and for the target 585.|
|JINDAL STEEL||309.25||BUY||The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 305 and for the target 317.|
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|STOCK OPTION||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|FEDERAL BANK||76 CE||BUY||4.85||CMP||3.5||7.5||OI increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|HDFC.21.03 Mar||2467.85||0.06||34.8||7365000||CIPLA.21.03 Mar||789.95||-0.03||58.07||6429800|
|ICICIBANK.21.03 Mar||570.8||0.57||16.04||18210500||TITAN.21.03 Mar||1447.25||-2.75||50.31||2568000|
|MFSL.21.03 Mar||845.8||0.27||13.99||709800||MARUTI.21.03 Mar||6782.1||-3.99||48.07||1346800|
|FEDERALBNK.21.03 Mar||76.35||1.06||11.1||18010000||IGL.21.03 Mar||501.75||-2.84||44.1||2318250|
|ICICIPRULI.21.03 Mar||432.25||0.65||11.05||2367000||TECHM.21.03 Mar||966.35||-2.66||39.94||5377200|
|Short Covering||Long Unwinding|
|Stocks||Price||Price%||OI%||OI||Stocks||Price||Price %||OI %||OI|
|ALKEM.21.03 Mar||2650.65||2.89||-40||39600||AMARAJABAT.21.03 Mar||841||-1.89||-59.57||190000|
|GUJGASLTD.21.03 Mar||512.45||0.3||-22.34||265000||CUB.21.03 Mar||160.35||-2.11||-58.68||1202800|
|DEEPAKNTR.21.03 Mar||1545||0.29||-18.56||215000||COFORGE.21.03 Mar||2770||-2.1||-55.63||72375|
|JSWSTEEL.21.03 Mar||439||0.26||-14.19||2727000||CHOLAFIN.21.03 Mar||535.65||-2.35||-54.86||430000|
|SIEMENS.21.03 Mar||1811.6||0.13||-9.76||162800||SHREECEM.21.03 Mar||27426||-1.54||-53.24||14800|
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Top Delivery Percentage
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|Gmr Infrastructure Limit||23.9||-3.43||30681803||30011051||73.35||Nifty Metal||3718.3||0.02||94722|
|Vedanta Limited||222.5||-0.4||30276235||14010357||67.08||Nifty Pharma||11816.8||-0.83||94722|
|Icici Prudential Life In||430.05||0.06||2524740||1319975||66.1||Nifty 50||14324.9||-1.54||94722|
|City Union Bank Ltd.||160.8||-1.86||2878881||1832918||65.8||Nifty it||25237.1||-2.19||94722|
|Nippon Life India Asset||327.2||-2.34||1076561||370946||62.57||Nifty Fmcg||33213.15||-2.28||94722|
|Icici Lombard General In||1388.25||-1.04||506945||261538||60.81||Nifty Realty||323.15||-2.5||94722|
|Hindustan Unilever Ltd||2237.05||-3.52||2495833||1065501||60.45||Nifty Auto||9651.35||-2.76||94722|
|L&t Technology Services||2492.55||-0.24||224277||166370||59.86||Nifty Energy||18133.35||-2.91||94722|
|Britannia Ind Ltd.||3443.85||-2.65||486516||283402||58.96||Nifty Media||1543.65||-3.06||94722|
Upcoming Economic Data
|INR: FX Reserves, USD on 26th March, 2021
INR: Bank Loan Growth on 26th March, 2021
|•USD : US Federal Budget on 27nd March, 2021
•USD: CB Consumer Confidence (Mar) on 30th March, 2021
|•The Reserve Bank has “major concerns” on the cryptocurrencies traded in the market and has conveyed the same to the government, its governor Shaktikanta Das on Thursday said. Underlining that both the government and the RBI are “committed to financial stability”, Das said there are no differences between the central bank and the Finance Ministry on the matter, and “we should now await the final decision on the matter” from the Centre.
•Food services major Jubilant FoodWorks has entered into an exclusive master franchise and development agreement with PLK APAC Pte Ltd, a subsidiary of Restaurant Brands International Inc, to develop, establish, own and operate hundreds of Popeyes restaurants in India, Bangladesh, Nepal and Bhutan.
•Tata Power DDL, a joint venture of Tata Power and the Delhi government, on Thursday announced a partnership with Sun Mobility, an infrastructure provider for electric vehicles, to set up lithium-ion battery swapping stations in the national capital. The Mumbai-based company has been collaborating with electric vehicle manufacturers to set up charging stations across the country. The central government has been promoting lithiuim-ion battery swapping technology to boost the adoption of electric mobility.
•A back-of-the-envelope calculation shows there’s about $9.6 billion worth of daily marine traffic halted by the massive container vessel that lodged in the Suez Canal earlier this week, blocking transit in both directions
Source: Economic Times, Moneycontrol ,Business Today, Livemint, Business Standard, Bloomberg Quint
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|DSSL||Issue Of Warrants;General||26-Mar-21||TECHNOFAB||Quarterly Results||26-Mar-21|
|INDNIPPON||Interim Dividend||26-Mar-21||WARDINMOBI||Voluntary Delisting of Shares||26-Mar-21|
|INDSUCR||Issue Of Warrants;General||26-Mar-21||BGPL||General||27-Mar-21|
|REMITR||Voluntary Delisting of Shares||26-Mar-21||SYNCOMF||General||27-Mar-21|
|Company Name||Ex-Date||Purpose||Company Name||Ex-Date||Purpose|
|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|
|AARTIDRUGS||30-Mar-21||Buy Back of Shares||KDDL||30-Mar-21||Right Issue of Equity Shares|
|ACC||30-Mar-21||Final Dividend – Rs. – 14.00||SUNCLAYLTD||30-Mar-21||Interim Dividend – Rs. – 11.00|
|COLPAL||30-Mar-21||Interim Dividend – Rs. – 20.00||TVSMOTOR||30-Mar-21||Interim Dividend – Rs. – 1.40|
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