outlook

NIFTY

The Nifty opened at 15064.40 with a big gap up of 145 points. The index initially moved down a little bit and recorded its intraday low at 14995.80. After that prices have rallied throughout the day. A rally of more than 250 points helped the index to close at 15245.60 with a gain of 326.50 points. All sectoral indices have closed with gains except the Auto. The Metal, Bank and Financial have led the bulls and closed with a gain of more than 2.50%.

We had suggested a long trade. The trade was to buy above 14950. But if the index opens with a gap up above 14950 then we should buy above the first 15 minutes high. Nifty opened well above 14950 and recorded the first 15 minutes of high around 15065. Prices broke that high around 10:30 AM so we took a long trade there. We have suggested a target of 15200. A strong intraday rally helped prices to reach the target. So our long position closed with a gain of 135 points. It was a trend day in the index on the upside where the opening tick was near the intraday low and closing tick near the intraday high. Rally continued for the third day in the Nifty with more strong momentum in the prices. Prices are now heading towards its lifetime high. Today is the weekly expiry and we could see some choppy action.

BANK NIFTY

Bank Nifty opened at 35754.55 with a gap up of 281 points. For the first 30 minutes of trading, the index moved sideways. After that prices have seen one way of journey on the upside & finally closed at 36368. PSU & Private Banks both have performed well and closed higher by more than 2% of gains. Within the index,in terms of points ICICI Bank contributed highest followed by Axis Bank. We had suggested a long trade. The trade was to buy above 35750 or high of first 15 minutes. The index crossed its high of 35850 immediately. Prices neither touched the stop nor the target. But are trading very close to the target of 36500. Book profits in the morning.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
GRANLUES 364.40 BUY The stock has given a breakout from a narrow trading range. The stock can be bought between 358-360 with a stop at 352 and for the target 377
BANDHAN BANK 354.90 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 347 and for the target 370

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
AMARAJABAT 910CE BUY 39.40 CMP 35 50 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
CUB.21.03 Mar 183.3 3.68 188.96 6575100 LTTS.21.03 Mar 2722.6 -0.97 69.32 199800
NAM-INDIA.21.03 Mar 366.85 5.43 122.83 1640000 MPHASIS.21.03 Mar 1699 -0.37 48.83 144625
GRANULES.21.03 Mar 370.4 9.42 86.47 4271800 ALKEM.21.03 Mar 2864.95 -2.44 43.41 119600
FINNIFTYW.21.03 Mar 16890.5 2.94 63.85 8520 APLLTD.21.03 Mar 934.1 -0.8 28.76 216700
AUBANK.21.03 Mar 1223.85 5.36 49 298000 PFIZER.21.03 Mar 4680.1 -0.18 15 31625
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
TRENT.21.03 Mar 915 0.34 -7.07 342925 SAIL.21.03 Mar 79 -0.32 -5.44 133304000
DIVISLAB.21.03 Mar 3571.65 1.24 -2.64 3059800 PAGEIND.21.03 Mar 29399.95 -0.47 -2.81 72690
ESCORTS.21.03 Mar 1347.2 2.09 -1.83 2809950 IRCTC.21.03 Mar 1903.65 -0.33 -0.74 1268150
CONCOR.21.03 Mar 582.5 1.07 -1.83 5859687
PIDILITIND.21.03 Mar 1773.95 2.22 -1.66 2160000

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Hindustan Unilever Ltd 2193.5 0.71 2031893 1336750 63.8 Nifty Metal 4058.6 3.34 81600
Infosys Limited 1343.55 2.99 9056399 6551888 62.63 Nifty Bank 36368.05 2.68 81600
Icici Lombard General In 1496.9 4.59 576058 286501 62.53 Nifty 50 15245.6 2.19 81600
Britannia Ind Ltd. 3481.15 0.96 409493 234884 61.17 Nifty Energy 19670.05 1.9 81600
Torrent Pharma Ltd. 2497.35 1.1 401553 277696 61.06 Nifty it 25772.65 1.86 81600
Kotak Mahindra Bank Limi 1899.5 2.97 2875618 2253657 58.73 Nifty Realty 362.45 1.5 81600
Alembic Pharmaceuticals 929.65 -0.6 452319 155582 57.39 Nifty Pharma 12379.6 1 81600
Hdfc Ltd. 2654.9 3.55 5640063 2300989 56.31 Nifty Media 1719.75 0.63 81600
Max Financial Services l 923.95 3.47 2547802 1334376 55.45 Nifty Fmcg 33454.4 0.61 81600
Piind 2279.25 0.18 389444 352677 54.11 Nifty Auto 10673.1 -0.66 81600

Upcoming Economic Data

   Domestic                                                                                                                                                  International
INR:  FX Reserves, USD on 5th  March, 2021 •USD : Initial Jobless Claims on 4th March, 2021

•USD : Nonfarm Payrolls (Feb) on 5th March, 2021

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News Updates

•As pent-up demand is pushing up volumes, Berger Paints, country’s second largest paints maker in the decorative segment, , is aiming to accelerate and expand its manufacturing capacity. Berger is in the process of setting up a Rs 700-crore plant in Uttar Pradesh and the commissioning of the plant is now being brought forward on account of high capacity utilization at its existing facilities.

•Mumbai-based drug major Cipla said its Gulf subsidiary is expanding its partnership with Alvotech for the marketing and distribution of four biosimilar medicines in Australia and New Zealand that had an aggregate sales of $700 mn in 2020 in Australia.

•Tata Motors is all set to challenge Tesla before the latter begins manufacturing in India. The company’s Jaguar Land Rover India on Wednesday said it has set up charging infrastructure across 22 retail outlets in the country as it prepares to launch its all-electric SUV, Jaguar I-PACE, later this month.

•Easy Trip Planners Pvt., the holding company for online travel portal easemytrip.com, will sell shares at Rs 186-187 apiece through an initial public offering next week. The company will launch its Rs 510-crore maiden float on March 8, according to its red herring prospectus. It comprises an offer-for-sale of 2.72 crore shares, amounting to 25.10% of the paid-up equity. At the upper end of the price band, Easy Trip will be valued at Rs 2,031 crore.

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
ANGEL General 04-Mar-21 ADDIND General 05-Mar-21
DYNAMICP General 04-Mar-21 AKI General 05-Mar-21
GIRDSGA General 04-Mar-21 BINDALEXPO General 05-Mar-21
JAYSHREETEA General;Scheme of Arrangement 04-Mar-21 COALINDIA Interim Dividend 05-Mar-21
JUPITERIN General 04-Mar-21 CYBERMAT A.G.M.;General 05-Mar-21
KLBRENG-B Preferential Issue of shares 04-Mar-21 ICICIGI Interim Dividend 05-Mar-21
QUINT General 04-Mar-21 KIRLOSENG Interim Dividend 05-Mar-21
RCRL Half Yearly Results 04-Mar-21 MSRINDIA General 05-Mar-21
RITHWIKFMS General 04-Mar-21 PRITHVIEXCH General 05-Mar-21
WARDINMOBI General 04-Mar-21 SCTL Scheme of Arrangement 05-Mar-21

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
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 – Rs. – 6.00
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 KIRLFER 10-Mar-21 Interim Dividend – Rs. – 2.00
SACHEMT 08-Mar-21 Bonus issue 1:10 MARICO 10-Mar-21 Interim Dividend
TELESYS 08-Mar-21 E.G.M. WANBURY 10-Mar-21 E.G.M.
KEI 09-Mar-21 Interim Dividend – Rs. – 2.00 COALINDIA 15-Mar-21 Interim Dividend

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