outlook

NIFTY:

The Nifty opened at 14977.95 with a gap down of 103 points. The index first rallied and recorded its intraday high at 15092.35.After that prices fell down. From 11:00 AM to 1:30 PM, prices traded sideways and narrows and then again fell down to record its intraday low at14862.10. The Nifty has seen some recovery in the late hour of trading and finally closed at 14938.10 with a loss of 142.65 points. All the sectoral indices have closed with a loss led by Metals and Banks. Back to Back gap down and then intraday weakness forced the index to close below 15000. It was a volatile day where prices have seen moves in both directions. A trading range inside 14650-15200 remained intact so far. Prices are trading very volatile and random within these boundaries and did not give us any clear sense of direction. But since the overall nature of the markets is more bullish so traders can look to buy on dips if they find support intraday. As far as prices are trading within these levels we should avoid any carry forward trades. We should wait for prices to give us a sense of the likely next move. That sign may emerge if Nifty breaks above 15200 or comes close to 14650.

BANK NIFTY:

Bank Nifty opened at 35458.50 with a big gap down of 376 points. The index traded very random and volatile intraday. In this process prices have recorded first its intraday high at 35616.08 and then its intraday low at 34893.25 and finally closed at 35338.80 with a loss of 496 points. PSU Banks have significantly underperformed and closed lower by more than 4%. Private Banks also closed lower by almost 2%. Within the index, in terms of points Kotak Bank contributed highest while SBIN the lowest.

Bank Nifty opened with a gap down for the second consecutive day and closed lower. Intraday movement was very volatile and random. We have identified a trading range of about 1500 points within 35000 support and 36500 as resistance. We should wait for a decisive breakout from this range for any carry forward trades.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
JINDAL STEEL 322.25 BUY The stock has given a breakout from a narrow trading range. The stock can be bought bat CMP with a stop at 318 and for the target 330
MARUTI 7249 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 7160 and for the target 7400

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
SBIN 385 PE BUY 17.90 CMP 14.5 23 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
ULTRACEMCO.21.03 Mar 6804 0.26 14.38 1689600 FINNIFTYW.21.03 Mar 16397.45 -1.15 335 3480
KOTAKBANK.21.03 Mar 1913 0.97 8.66 14838800 WIPRO.21.03 Mar 421.65 -4.07 34.73 38585600
GAIL.21.03 Mar 146.2 1.49 8.26 31488200 PIIND.21.03 Mar 2241.05 -1.46 29.13 307000
COLPAL.21.03 Mar 1639.4 0.72 7.56 3485300 CUMMINSIND.21.03 Mar 838.95 -5.56 24.34 1796400
VEDL.21.03 Mar 221.55 3.29 5.73 110267000 APOLLOHOSP.21.03 Mar 2895.15 -5.39 22.21 1694500
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
PFIZER.21.03 Mar 4645 0.38 -9.02 30250 BHEL.21.03 Mar 52.8 -3.21 -12.43 114681000
ICICIGI.21.03 Mar 1500 1.56 -2.06 888250 NAM-INDIA.21.03 Mar 353 -2.74 -10.89 1806400
MARUTI.21.03 Mar 7270 1.66 -0.23 2848300 TRENT.21.03 Mar 881.25 -5.13 -7.14 433550
NESTLEIND.21.03 Mar 16816.85 0.68 -0.17 324850 BOSCHLTD.21.03 Mar 14990 -2.27 -5.37 92550
RECLTD.21.03 Mar 140.85 -1.64 -5.02 17928000

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Pfizer Ltd. 4634.75 0.52 38709 25726 61.3 Nifty Fmcg 33360.3 -0.25 81042
Hindustan Unilever Ltd 2201.1 0.19 2129837 1404059 61.29 Nifty Energy 19428.2 -0.41 81042
Alembic Pharmaceuticals 917 -0.62 295260 287030 61.26 Nifty Media 1732.15 -0.86 81042
Britannia Ind Ltd. 3491.75 -0.29 612423 322909 60.1 Nifty Auto 10524.4 -0.95 81042
Hdfc Ltd. 2543.9 -1.51 4254126 3086674 58.07 Nifty 50 14938.1 -0.95 81042
Icici Lombard General In 1495.55 1.65 741576 176055 57.97 Nifty Pharma 12192.75 -1.29 81042
Godrej Cons Products Ltd 691.3 -0.15 1304207 791052 57.5 Nifty Realty 357.7 -1.42 81042
Dabur India Ltd. 524.4 0.04 3785627 2479918 57.47 Nifty it 25229.6 -1.57 81042
Kotak Mahindra Bank Limi 1922.5 1.31 5407986 2293432 57.01 Nifty Bank 35228.15 -1.6 81042
Icici Prudential Life In 483.5 -2.84 1777392 1689798 56.1 Nifty Metal 3869.4 -2.7 81042

Upcoming Economic Data

   Domestic                                                                                                                                                  International
INR: Industrial Production (YoY) (Jan) on 12th  March, 2021

INR: CPI (YoY) (Feb) on 12th  March, 2021

•USD : EIA Short-Term Energy Outlook on 9th March, 2021

•USD:  Core CPI (MoM) (Feb) on 10th March, 2021

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News Updates

•Lenders to Bhushan Power & Steel Ltd. have agreed to terms set by JSW Steel Ltd. for purchasing the assets of the insolvent steelmaker, according to two people with direct knowledge of the matter. A majority of the financial creditors on March 5 voted in favour of accepting JSW Steel’s Rs 19,350-crore offer for the sale, on a provisional basis, the people cited above told BloombergQuint on the condition of anonymity. A proposal needs at least 66% votes to be cleared by the committee of creditors.

•Investment trust IndiGrid on Friday inked an agreement to acquire 100 per cent equity stake in NER II Transmission from Sterlite Power for about Rs 4,625 crore.

•Multiplex major PVR on Friday announced the launch of a new six-screen property in Mysuru, Karnataka. “PVR Cinemas with this launch strengthens its presence in Karnataka with 109 screens in 16 properties and 292 screens across 47 properties in South. Located in the heart of India’s silk city, the new PVR Cinemas spreads across an area of 32,240 sq feet and can accommodate a total of 1,078 audiences,” the company said in a statement.

•New models of all cars will have to provide airbags for the front passenger seat from April 1 while all existing models can be sold after August 31 this year, only after being fitted with this safety gear. This mandatory provision was notified by the road transport ministry on Tuesday. “This has been mandated as an important safety feature, and is also based on the suggestions of the Supreme Court Committee on Road Safety,” the ministry said.

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
ANKITMETAL General 08-Mar-21 CONFIPET General 09-Mar-21
BIRLATYRES Quarterly Results 08-Mar-21 DWL General 09-Mar-21
GOODLUCK General 08-Mar-21 INDIANB General 09-Mar-21
INDINFO General 08-Mar-21 MCDHOLDING Quarterly Results 09-Mar-21
MOLDTEK Interim Dividend 08-Mar-21 MINDSPACE General 09-Mar-21
MOLDTKPAC Interim Dividend 08-Mar-21 OSWALOR General 09-Mar-21
NAGTECH General 08-Mar-21 RSYSTEMINT General 09-Mar-21
PTIL A.G.M.;General 08-Mar-21 SBTL General 09-Mar-21
RLF General 08-Mar-21 HBEL General 10-Mar-21
AUTOLITIND Preferential Issue; Results 09-Mar-21 IMPEXFERRO General 10-Mar-21

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
POWERGRID 08-Mar-21 Interim Dividend – Rs. – 4.00 TRIOMERC 09-Mar-21 Bonus issue 1:6
SACHEMT 08-Mar-21 Bonus issue 1:10 TRIOMERC 09-Mar-21 Stock  Split From Rs.10/- to Rs.2/-
TELESYS 08-Mar-21 E.G.M. DICIND 10-Mar-21 Final Dividend – Rs. – 6.00
KEI 09-Mar-21 Interim Dividend – Rs. – 2.00 KIRLFER 10-Mar-21 Interim Dividend – Rs. – 2.00
SELMCL 09-Mar-21 Resolution Plan -Suspension MARICO 10-Mar-21 Interim Dividend – Rs. – 4.50
THANGAMAYL 09-Mar-21 Interim Dividend – Rs. – 6.00 WANBURY 10-Mar-21 E.G.M.

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