OutlookNIFTY:

The Nifty opened at 15002.45 with a gap up of 64 points. The index first rallied and recorded its intraday high at 15111.15. After that prices fell down. Prices have seen a sharp decline of more than 150 points in just one hour of trading. In the second half, prices have traded very narrow and choppy. The index finally closed at 14956.20 near Fridays closing price with minor gain of 18 points. Media and Metals have led the bulls while the Realty and FMCG have led the beards. Banks and Financials were subdued. The Nifty ended flat near 14950 without much of a change. In the first half Prices have traded very volatile while in the second half the index traded very choppy and narrow. Prices have been trading inside a large range within 14650-15200. A breakout in either direction may give us a trading opportunity.

For today we should look for a trading opportunity in the direction of the breakout. Buy above 15200 or sell short if prices break below 14650. Take a stop of 120 points and a target of 300 points. Take this trade after the first 15 minutes around 9.30 am.

BANK NIFTY:

Bank Nifty opened at 35642.45 with a gap up of 124 points. The index rallied further and recorded its intraday high at 35827.30. Around 10:10 AM, prices started moving downwards and recorded its intraday low at 35090.75. The index spends its second half by moving narrow and sideways and finally closed at 35307.05 without much of a change. PSU Banks have outperformed and closed higher by 1.59%. Private Banks closed without much of a change. Within the index, in terms of points, Axis Bank contributed highest while Kotak the lowest. It was a choppy day in the index where prices have moved and finally settled near its opening tick. We have identified a trading range of about 1500 points with 35000 support and 36500 resistance. Take a trade in the direction of the breakout.

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
INFY 1335.75 BUY The stock has given a breakout from a narrow trading range. The stock can be bought bat CMP with a stop at 1315 and for the target 1370
LT 1515.2 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 1495 and for the target 1540

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
JSWSTEEL 410 CE BUY 18.4 CMP 15 24 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

•Tata Motors, Ashok Leyland and Mahindra and Mahindra are among atleast six companies looking to buy government’s 26 per cent stake in state-run defence and construction equipment manufacturer BEML Ltd. Besides, Bharat Forge Ltd and Megha Engineering and Infrastructure Ltd are also likely to submit Expression of Interest (EoI) for acquiring stake in the company, Mint reported citing sources.

•Tata Motors on Monday said its shareholders have approved hiving off its passenger vehicles business into a separate entity. On March 5, the shareholders of the company voted to consider and approve the transfer of the passenger vehicles business unit to TML Business Analytics Services Ltd as a going concern on a slump sale basis for a lump sum consideration.

•Adani Green Energy on Monday said its arm Adani Wind Energy Kutch Three Limited (AWEKTL) has commissioned a 100 megawatt (MW) wind power plant located at Kutch, in Gujarat. With the successful commissioning of this plant, the company has an operational wind generation capacity of 497 MW.

•After tepid growth in January, following two months of consecutive decline, February saw life insurers, 24 in total, recording impressive 21 per cent growth in new business premiums (NBP) to Rs 22,425.21 crore, compared with Rs 18,533.19 crore in the same period, a year ago.

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
AUTOLITIND Preferential Issue ;Quarterly Results 09-Mar-21 IMPEXFERRO General 10-Mar-21
CONFIPET General 09-Mar-21 KALPACOMME General 10-Mar-21
DWL General 09-Mar-21 MACKINN General 10-Mar-21
INDIANB General 09-Mar-21 NDASEC General 10-Mar-21
MCDHOLDING Quarterly Results 09-Mar-21 POLYLINK General 10-Mar-21
MINDSPACE General 09-Mar-21 QUICKHEAL Buy Back ;ESOP 10-Mar-21
OSWALOR General 09-Mar-21 RAJNISH General 10-Mar-21
RSYSTEMINT General 09-Mar-21 RECLTD Interim Dividend;General 10-Mar-21
SBTL General 09-Mar-21 SACHEMT Bonus issue;General 10-Mar-21
HBEL General 10-Mar-21 SCANSTL General 10-Mar-21

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
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.
TRIOMERC 09-Mar-21 Bonus issue 1:6 WEPSOLN 10-Mar-21 Right Issue of Equity Shares
TRIOMERC 09-Mar-21 Stock  Split From Rs.10/- to Rs.2/- COALINDIA 15-Mar-21 Interim Dividend – Rs. – 5.00
DICIND 10-Mar-21 Final Dividend – Rs. – 6.00 SOUTHBANK 15-Mar-21 E.G.M.

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