OutlookNIFTY:

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:

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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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
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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DERIVATIVE PICKS

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
Sectors Price Change % Quantity
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
Piind 2294.3 -0.47 246052 145079 66.49 Nifty Bank 33006.45 -0.86 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

   Domestic                                                                                                                                                  International
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

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News Updates

•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

Board Meetings

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ABMKNO General 26-Mar-21 RVNL Interim Dividend 26-Mar-21
CEINSYSTECH General 26-Mar-21 SHRIRAMCIT Interim Dividend;General 26-Mar-21
DSSL Issue Of Warrants;General 26-Mar-21 TECHNOFAB Quarterly Results 26-Mar-21
IDBI General 26-Mar-21 VISIONCO General 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
KREONFIN General 26-Mar-21 ENCASH General 27-Mar-21
LUMAXIND General 26-Mar-21 GARNETINT General 27-Mar-21
PASUSPG Quarterly Results 26-Mar-21 NOL General 27-Mar-21
PRIMEFRESH Bonus issue;General 26-Mar-21 STYLAMIND General 27-Mar-21
REMITR Voluntary Delisting of Shares 26-Mar-21 SYNCOMF General 27-Mar-21

Corporate Action

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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