NIFTY:

The Nifty opened at 14865.30 with a gap up of 104 points. The index rallied further almost 70 points within the first hour of trading and then suddenly fell down. Prices have seen a decline of more than 150 points to record its intraday lowat 14760.80. The index then traded sideways except for the last 30 minutes of trading. Prices moved upagain after 3:00 Pmto record its intraday high at 14959.10 and finally closed at 14919 with a gain of 157 points. All the sectoral indices have performed well and closed with gains. IT and Auto were the outperformers while Banks and Financials were the least performers.  Nifty continued trading volatile. The index held onto its support around 14650. Bulls continued to have control over the markets as prices have recovered from a sharp intraday decline to end at the high of the day.

For today we should lookk to buy above 14950. But if the index opens above 14950 wait for the first 15 minutes of high and then takea long trade above the high. Keep a stop of110 points and target of 15200.

BANK NIFTY:

Bank Nifty opened at 35458.15 with a gap up of 119 points The index first moved up and recorded its intraday high  at 35747. After that prices fell to record its low at 35002.45. Prices again moved up in the second half and finally closed near its opening. Private Banks have continued outperforming and closed with gains. PSU banks have closed higher but with marginally gains. Within the index in terms of points HDFC Bank contributed highest while SBI the lowest. It was a volatile day where prices have moved in both direction. Strong support of 35000.

Buy on a breakout above 35800 or on a dip towards 35100.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
M&M 860 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 844 and for the target 890
MINDTREE 1734 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 1705 and for the target 1780.

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
IGL 515 CE BUY 23.9 CMP 19.8 30 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
MPHASIS.21.03 Mar 1720.5 4.11 394.34 85150 ONGC.21.03 Mar 113.4 -2.7 27.04 56217700
CUB.21.03 Mar 176.65 3.88 290.96 2145200 GRANULES.21.03 Mar 338.9 -1.6 24.81 2269200
LTTS.21.03 Mar 2778.9 7 282.73 106400 DRREDDY.21.03 Mar 4439 -1 14.78 3788250
ALKEM.21.03 Mar 2937.6 3.23 275.47 79600 MANAPPURAM.21.03 Mar 174.9 -0.06 12.53 19776000
PIIND.21.03 Mar 2293 4.64 265.15 220000 TATACHEM.21.03 Mar 738.5 -1.33 11.85 10102000
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
LICHSGFIN.21.03 Mar 442.65 1.48 -1.84 9088000
HDFCLIFE.21.03 Mar 727.8 2.64 -0.58 7724200
TORNTPOWER.21.03 Mar 391.6 0.9 -0.43 3453000

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Piind 2275.2 4.62 651820 162554 68.61 Nifty Auto 10744.05 3.19 100668
Au Small Finance Bank Li 1151.5 0.27 410197 451913 59.92 Nifty it 25301.85 3.04 100668
Icici Lombard General In 1431.2 0.29 458168 243894 58.77 Nifty Fmcg 33250.9 1.38 100668
Hindustan Unilever Ltd 2177.95 1.61 2095135 715403 58.2 Nifty Pharma 12257.3 1.36 100668
Infosys Limited 1304.5 2.96 10461434 3344135 58.1 Nifty 50 14919.1 1.07 100668
Hdfc Ltd. 2564 -1.61 4086134 2059491 57.27 Nifty Media 1708.9 0.81 100668
Dabur India Ltd. 511.25 1.07 1420334 984408 56.2 Nifty Metal 3927.6 0.79 100668
Indus Towers Limited 257.5 2.08 3724070 3026458 53.97 Nifty Realty 357.1 0.75 100668
City Union Bank Ltd. 175.6 4.03 6863895 786957 53.83 Nifty Energy 19303.4 0.75 100668
Larsen & Toubro Infotech 3832.8 6.23 394399 102690 53.8 Nifty Bank 35419.7 0.35 100668

Upcoming Economic Data

   Domestic                                                                                                                                                  International
INR:  Nikkei Services PMI (Feb) on 3rd March, 2021

INR:  FX Reserves, USD on 5th  March, 2021

•USD :   ISM Non-Manufacturing PMI (Feb) on 3rd March, 2021

•USD :  OPEC Meeting  on 3rd March, 2021

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News Updates

•India’s exports declined 0.25% to $27.67 billion in February while imports grew 6.98% to $40.55 billion during the month, according to provisional data released by the commerce ministry. The trade deficit widened to $12.88 billion in February as compared to $10.16 billion in the year-ago period, the ministry said in a statement. However, the trade deficit stood at $14.54 billion in January 2021.

•Jindal Steel & Power Ltd., India’s third-largest producer of the alloy by market value, and two other groups were the latest to express interest in bidding for Reliance Naval & Engineering Ltd., according to people familiar with the matter.

•Bajaj Auto on Tuesday said it has launched the new version of its 102 cc bike Platina 100 Electric Start (ES) priced at Rs 53,920 (ex-showroom Delhi). he bike comes with spring-in-spring suspension that provides more comfort on longer journeys, further strengthening the promise of comfort for both the rider and the pillion.

•In a bid to develop the 7,500 km coastline of India, the Ministry of Port Shipping and Waterways has created a list of 400 projects which have an investment potential of $31 billion (Rs 2.25 trillion). Speaking at the inaugural of ‘Maritime India Summit 2021’ through video conferencing, Prime Minister Narendra Modi invited the world to come to India and be a part of the country’s growth trajectory as it focuses on upgradation of infrastructure and boosting reform journey.

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
ANANTRAJ Preferential Issue of shares 03-Mar-21 YAMNINV General 03-Mar-21
AVL Employees Stock Option Plan;General 03-Mar-21 ANGEL General 04-Mar-21
BCPL General 03-Mar-21 DYNAMICP General 04-Mar-21
DLF General 03-Mar-21 GIRDSGA General 04-Mar-21
KREONFIN Preferential Issue of shares 03-Mar-21 JAYSHREETEA General;Scheme of Arrangement 04-Mar-21
MAGANTR General 03-Mar-21 JUPITERIN General 04-Mar-21
MARICO Interim Dividend 03-Mar-21 KLBRENG-B Preferential Issue of shares 04-Mar-21
OSWALEA Right Issue of Equity Shares 03-Mar-21 QUINT General 04-Mar-21
UNICK General 03-Mar-21 RCRL Half Yearly Results 04-Mar-21
WELSPUNIND General 03-Mar-21 RITHWIKFMS General 04-Mar-21

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
DIGJAMLTD 03-Mar-21 Reduction of Capital KEI 09-Mar-21 Interim Dividend – Rs. – 2.00
BHARATRAS 04-Mar-21 Buy Back of Shares SELMCL 09-Mar-21 Resolution Plan -Suspension
RAJPALAYAM 04-Mar-21 Right Issue of Equity Shares THANGAMAYL 09-Mar-21 Interim Dividend
SOTL 04-Mar-21 Buy Back of Shares TRIOMERC 09-Mar-21 Bonus issue 1:6
HAL 05-Mar-21 Interim Dividend – Rs. – 15.00 TRIOMERC 09-Mar-21 Stock  Split From Rs.10/- to Rs.2/-
RPIL 05-Mar-21 E.G.M. DICIND 10-Mar-21 Final Dividend – Rs. – 6.00
POWERGRID 08-Mar-21 Interim Dividend – Rs. – 4.00 MARICO 10-Mar-21 Interim Dividend
SACHEMT 08-Mar-21 Bonus issue 1:10 WANBURY 10-Mar-21 E.G.M.
TELESYS 08-Mar-21 E.G.M. COALINDIA 15-Mar-21 Interim Dividend

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