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 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.
Trade AnyTime AnyWhere With Elite Empower Mobile App
|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|
Get All Your Mutual Fund Portfolio Returns on Your Mobile by Elite Kuber App
|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|
Top Delivery Percentage
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|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
|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
Get Stock Market Recommendation By Our Research Analysts
|•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
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|AUTOLITIND||Preferential Issue; Results||09-Mar-21||IMPEXFERRO||General||10-Mar-21|
|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.|
Disclosure in pursuance of Section 19 of SEBI (RA) Regulation 2014
Elite Wealth Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only information in making their investment decision and must exercise their own judgment before making any investment decision.
For analyst certification and other important disclosures, see the Disclosure Appendix, or go to www.elitewealth.in. Analysts employed by Elite Wealth Limited are registered/qualified as research analysts with SEBI in India.( SEBI Registration No.: INH100002300)
Analyst Certification (For Reports)
Israil Khan, Elite Wealth Limited, email@example.com
The analyst(s) certify that all of the views expressed in this report accurately reflect my/our personal views about the subject company or companies and its or their securities. I/We also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report. Unless otherwise stated, the individuals listed on the cover page of this report are analysts in Elite Wealth Limited.
As to each individual report referenced herein, the primary research analyst(s) named within the report individually certify, with respect to each security or issuer that the analyst covered in the report, that:
(1) all of the views expressed in the report accurately reflect his or her personal views about any and all of the subject securities or issuers; and
(2) no part of any of the research analyst’s compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed in the report.
For individual analyst certifications, please refer to the disclosure section at the end of the attached individual notes.
This note may include excerpts from previously published research. For access to the full reports, including analyst certification and important disclosures, investment thesis, valuation methodology, and risks to rating and price targets, please visit www.elitewealth.in.Company-Specific Disclosures Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting https://www.elitewealth.in , or e-mailing firstname.lastname@example.org with your request. Elite Wealth Limited may screen companies based on Strategy, Technical, and Quantitative Research. For important disclosures for these companies, please e-mail email@example.com.Options related research:
If the information contained herein regards options related research, such information is available only to persons who have received the proper option risk disclosure documents. For a copy of the risk disclosure documents, please contact your Broker’s Representative or visit the OCC’s website at https://www.elitewealth.in
All research reports made available to clients are simultaneously available on our client websites. Not all research content is redistributed, e-mailed or made available to third-party aggregators. For all research reports available on a particular stock, please contact your respective broker’s sales person. Ownership and material conflicts of interest Disclosure
Elite Wealth Limited policy prohibits its analysts, professionals reporting to analysts from owning securities of any company in the analyst’s area of coverage. Analyst compensation: Analysts are salary based permanent employees of Elite Wealth Limited. Analyst as officer or director: Elite Wealth Limited policy prohibits its analysts, persons reporting to analysts from serving as an officer, director, advisory board member or employee of any company in the analyst’s area of coverage. Country Specific Disclosures India – For private circulation only, not for sale.
Legal Entities Disclosures
Mr. Ravinder Parkash Seth is the Managing Director of Elite Wealth Ltd (EWL, henceforth), having its registered office at Casa Picasso, Golf Course Extension, Near Rajesh Pilot Chowk, Radha Swami, Sector-61, Gurgaon-122001 Haryana, is a SEBI registered Research Analyst and is regulated by Securities and Exchange Board of India. Telephone:011-43035555, Facsimile: 011-22795783 and Website: www.elitewealth.in
EWL Advisory discloses all material information about itself including its business activity, disciplinary history, the terms and conditions on which it offers research report, details of associates and such other information as is necessary to take an investment decision, including the following:
a) EWL Advisory or his associate or his relative has no financial interest in the subject company and the nature of such financial interest;
(b) EWL Advisory or its associates or relatives, have no actual/beneficial ownership of one per cent. or more in the securities of the subject company, at the end of the month immediately preceding the date of publication of the research report or date of the public appearance;
(c) EWL Advisory or its associate or his relative, has no other material conflict of interest at the time of publication of the research report or at the time of public appearance;
(a) EWL Advisory or its associates have not received any compensation from the subject company in the past twelve months;
(b) EWL Advisory or its associates have not managed or co-managed public offering of securities for the subject company in the past twelve months;
(c) EWL Advisory or its associates have not received any compensation for investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(d) EWL Advisory or its associates have not received any compensation for products or services other than investment banking
or merchant banking or brokerage services from the subject company in the past twelve months;
(e) EWL Advisory or its associates have not received any compensation or other benefits from the subject company or third party in connection with the research report.
3 In respect of Public Appearances
(a) EWL Advisory or its associates have not received any compensation from the subject company in the past twelve months;
(b) The subject company is not now or never a client during twelve months preceding the date of distribution of the research report and the types of services provided by EWL Advisory
Provided that research analyst or research entity shall not be required to make a disclosure as per sub-clauses (c), (d) and (e) of clause (ii) or sub-clauses (a) and (b) of clause (iii) to the extent such disclosure would reveal material non-public information regarding specific potential future investment banking or merchant banking or brokerage services transactions of the subject company.
(4) EWL Advisory or its proprietor has never served as an officer, director or employee of the subject company;
(5) EWL Advisory has never been engaged in market making activity for the subject company;
(6) EWL Advisory shall provide all other disclosures in research report and public appearance as specified by the Board under any other regulations.