Morning-Outlook-Feature-Image
Outlook

NIFTY:

Nifty opened at 16078 with a gap up of 65 points. The index initially went down for the first five minutes of trading and recorded its intraday low at 15990. Prices have started moving up after that. Minor dips in between quickly find support and bulls use these opportunities to buy more. The intraday range was wide today. Prices have moved up more than 400 points from its day low to day high , recorded its intraday high at 16418.05, and finally closed at 16345.35 with a gain of 331.90 points or 2.07% up. All the sectoral indices have seen an upside move today except the METAL that ended with a loss of 0.34%. FINANCIAL,MEDIA, AUTO ,and REALTY outperformed today and closed wit h impressive gains.

The short-term trend is changing to sideways today as the index broke above 16200 resistance and closed higher. The volatility index ‘INDIA VIX’ has seen a minor decline today but still moving around 28 which is very high. The first sign of low volatile markets will come when the VIX moves below 20. Strong support should emerge around 15500 while strong resistance is visible inside the 16800 – 16900 range. Carry forward traders should step aside while intraday traders should look for a buying opportunity.

BANK NIFTY:

BANK NIFTY opened at 33278.90 with a ga p up of just 72 points. The index first consolidated in a narrow range till the afternoon and recorded its intraday low at 32948.90. Prices broke out higher and saw a sharp rally to record its intraday high at 33969.50. The index finally closed at 33891.25 with a gain of 685 points. PVT and PSU BANKS both indices have performed almost same today, saw a sharp intraday rally and closed higher by nearly 2%. Within the index, in terms of points, HDFC BANK contributed the highest on the upside followed by SBIN.

It wiII be sideways if prices closed above 34000. Carry forward traders shouId avoid trading the index and wait markets to stabilize first. However, intraday traders should look for a buying opportunity on a dip or consolidation breakouts.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
NAUKRI 4563 BUY The stock is on the verge of giving the breakout on the intraday as well as the daily chart. The stock can be bought  with a stop loss of 4500 and for the target of 4620.
COFORGE 4556 SELL The  immediate trend of the script is bearish. There is a negative  cross over of moving averages  as well as of the indicators therefore  it can be sell below 4550 with a stop loss of 4600 and target  of 4480.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
RELIANCE 2380 CE BUY 55 CMP 40 85 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
APOLLOHOSP.Mar 31 4738.55 0.06 1.35 2114000 COFORGE.Mar 31 4591.6 -4.57 21.71 602000
IPCALAB.Mar 31 1005.15 0.08 2.09 878400 PETRONET.Mar 31 213.2 -3.83 5.38 17340000
ABB.Mar 31 2142.8 0.11 5.91 331500 BOSCHLTD.Mar 31 14268 -2.34 10.29 143650
ABBOTINDIA.Mar 31 17790 0.12 1.39 32750 ONGC.Mar 31 172.85 -2.29 17.74 32447800
GSPL.Mar 31 269.65 0.13 26.28 1887000 GAIL.Mar 31 151.4 -2.1 11.93 25979900
                                                                        Short Covering                                                                       Long Unwinding
UPL.Mar 31 726.85 0.03 -0.81 23760100 NMDC.Mar 31 152.25 -0.36 -0.28 64018500
ALKEM.Mar 31 3291.5 0.4 -2.29 213600 MGL.Mar 31 762 -0.03 -0.36 3362400
BHEL.Mar 31 50.9 1.19 -0.36 1.01E+08
TATAPOWER.Mar 31 230.25 1.21 -0.39 91482750
GNFC.Mar 31 617.75 1.35 -0.7 2211300

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Marico Limited 492.6 0.4 2526968 0 76.34 Nifty50 16345.35 2.07 77184
Whirlpool 1589.9 1.31 242979 0 70.81 Niftybank 33815.45 1.98 77184
Alkem 3276.6 0.34 122653 0 67.35 Nifty it 35440.55 1.1 77184
Pfizer Ltd. 4424.1 0.95 69144 0 67.12 Nifty Fmcg 34486.95 1.41 77184
Icici Lombard General In 1236.1 1.52 1380187 0 67 Nifty Pharma 13059.25 1.67 77184
Itc Ltd. 229.25 1.04 42294906 0 65.25 Nifty Realty 418.85 3.05 77184
Hindustan Unilever Ltd 1997.9 2.51 2879079 0 64.84 Nifty Auto 9832.35 2.85 77184
Colgate Palmolive (india 1449.05 1.3 607334 0 64.49 Nifty Metal 6024.6 -0.34 77184
Container Corp Of India 594.6 4.42 700987 0 63.86 Nifty Media 2125.35 4.05 77184
Hdfc Ltd. 2194.4 1.98 6114047 0 62.56 Nifty Financial Services 15845.5 2.04 77184

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: Industrial Production (YoY) (Jan) on 11th March, 2022

INR: Manufacturing Output (MoM) (Jan) on 11th March, 2022

•USD:  Core CPI (MoM) (Feb) on 10th March, 2022

•USD:  Initial Jobless Claims on 10th March, 2022

NEWS UPDATES

  • Zydus Lifesciences on Wednesday said it has received approval from the US health regulator to market Nitroglycerin Sublingual tablets, used to treat chest pain, in the American market. The company has received approval from the US Food and Drug Administration (USFDA) for the drug in strengths of 0.3 mg, 0.4 mg and 0.6 mg, Zydus Lifesciences said in a statement.
  • L&T Construction has won a significant order from Delhi Metro Rail Corporation (DMRC) to design and construct the underground metro project of Phase-IV of Delhi MRTS. L&T Construction is the construction arm of infrastructure major Larsen & Toubro (L&T). The major scope of work for the project includes design and construction of a 5-km twin tunnel, cut and cover tunnel box, underground ramp and four underground stations namely Chhatarpur, Chhatarpur Mandir, IGNOU and Neb Sarai with associated works of Aerocity to Tughlaqabad corridor.
  • Kajaria Ceramics on Wednesday announced the launch of its largest store in the country to sell tiles and bathware products. The 100th Kajaria Eternity World showroom, which has come up in an 11,000 square feet area in Lajpat Nagar, offers tiles and Kerovit bathware products under one roof.
  • Indian pharmaceutical major Dr. Reddy’s Laboratories Ltd said on Wednesday it was focused on business continuity in and around Russia, as Indian drug exporters brace for temporary disruptions to sales due to the Ukraine crisis.

Source: Economic Times,  Indian Express  ,Business Today, Livemint, Business Standard, Bloomberg Quint.

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
BCLIL Interim Dividend 10-Mar-22 WARDINMOBI General 10-Mar-22
DSSL Employees Stock Option Plan 10-Mar-22 AMARJOTHI General 11-Mar-22
HKG General 10-Mar-22 DHANVARSHA Preferential Issue of shares 11-Mar-22
INDINFO General 10-Mar-22 GAIL Interim Dividend;General 11-Mar-22
INDLEASE General 10-Mar-22 HVL General 11-Mar-22
JINDALSTEL Interim Dividend 10-Mar-22 KESARPE General 11-Mar-22
KABRADG General 10-Mar-22 MIRCH Preferential Issue of shares 11-Mar-22
MOTOGENFIN General 10-Mar-22 RACE General 11-Mar-22
PARACABLES General 10-Mar-22 SHREYASI General 11-Mar-22
RAMSARUP Audited Results;Quarterly Results 10-Mar-22 DATASOFT General 12-Mar-22
SAMPRE Right Issue of Equity Shares;Pref. Issue 10-Mar-22 GGENG General 12-Mar-22
SPANDANA General 10-Mar-22 MDRNSTL Quarterly Results 12-Mar-22
TARC General 10-Mar-22 NBL General 12-Mar-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
7TEC 10-Mar-22 Interim Dividend – Rs. – 1.0000 ULTRACAB 10-Mar-22 Bonus issue 1:2
ADVIKCA 10-Mar-22 Right Issue of Equity Shares VISHAL 10-Mar-22 Bonus issue 2:1
BCLENTERPR 10-Mar-22 Stock  Split From Rs.10/- to Rs.1/- SRTRANSFIN 11-Mar-22 Interim Dividend – Rs. – 12.0000
BCLENTERPR 10-Mar-22 Bonus issue 1:1 ARIHCAPM 14-Mar-22 Interim Dividend – Rs. – 0.7500
EIDPARRY 10-Mar-22 Interim Dividend – Rs. – 5.5000 DICIND 14-Mar-22 Final Dividend – Rs. – 3.0000
MUL 10-Mar-22 Stock  Split From Rs.10/- to Rs.1/- DICIND 14-Mar-22 Special Dividend – Rs. – 2.0000
RAINBOWF 10-Mar-22 Right Issue of Equity Shares INFIBEAM 14-Mar-22 Bonus issue 1:1
ULTRACAB 10-Mar-22 Stock  Split From Rs.10/- to Rs.2/- NLCINDIA 14-Mar-22 Interim Dividend – Rs. – 1.5000

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