Outlook

NIFTY:

NIFTY opened at 16757.10 with a big gap up of 412 points. The index first moved down and then went up and recorded its intraday high almost at the opening tick. Prices face strong resistance there and then turn on the downside. Prices slowly moved down and then saw a sudden decline in the last afternoon to record its intraday low at 16447.90. The index has seen some recovery in the last one and half hours of trading and finally closed at 16594.90 with a gain of 249.55 points or 1.53% up. All the sectoral indices have seen an upside move today except the IT that ended with a minor loss. FMCG, METAL, and REALTY outperformed today and closed with more than 2% gains.

The short-term trend is sideways now and we have 16800 level as resistance and 16200 level as a support for the NIFTY Index. The NIFTY continued moving in a wide intraday range. The volatility index ‘INDIA VIX’ has seen a significant faII but still trading at a level where the volatility will be high. The first sign of low volatile markets will come when the VIX moves below 20. As mentioned yesterday, “Carry forward traders should step aside:·However, intraday traders should look for a trading opportunity on both sides of the market.

BANK NIFTY:

BANK NIFTY opened at 35153.95 with a big gap up of 1262 points. The index moved further of the upside and recorded its intraday high at 35374.15. Prices finds strong resistance there and then started drifting downwards. A sharp decline brought prices to its intraday low at 34218.05. Prices have consolidated in the last one and half hour of trading and finally closed at 34400.70 with a gain of 509 points. PSU BANKS outperformed today and closed with a gain of 2.33%.PVT BANKS have underperformed today but closed higher with a gain of 1.80%. Within the index, in terms of points, SBIN contributed the highest while BANDHAN BANK contributed the lowest.

The index has been recording wide intraday range from the last few trading days while the short-term trend changed to sideways due to a sharp upside correction.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
TATASTEEL 1308 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 1290 and for the target of 1340.
GUJGAS 509 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 508 with a stop loss of 515 and target  of 496.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
TCS 3600 PE BUY 71 CMP 55 100 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
ASHOKLEY.Mar 31 106.95 0.05 13.87 45540000 COFORGE.Mar 31 4254.95 -6.8 205.74 1700500
IDFC.Mar 31 56.25 0.09 2.31 81390000 GAIL.Mar 31 144.95 -4.58 22.88 31774900
M&M.Mar 31 736.5 0.12 6.05 16417100 GUJGASLTD.Mar 31 509.35 -4.53 27.51 3621250
WIPRO.Mar 31 585.3 0.16 3.69 33824800 COALINDIA.Mar 31 179.35 -3.89 14.75 35326200
MPHASIS.Mar 31 3231.45 0.23 1.64 1665475 INDHOTEL.Mar 31 200.05 -3.59 13.64 17926054
                                                                        Short Covering                                                                       Long Unwinding
MGL.Mar 31 762.3 0.11 -0.63 3294000 ABBOTINDIA.Mar 31 17577.4 -1.9 -0.08 32650
MIDCPNIFTY.Mar 29 6875.1 0.15 -4.76 1500 AUROPHARMA.Mar 31 630.45 -1.14 -0.43 14055750
SUNPHARMA.Mar 31 871.15 0.21 -0.06 20507200 MANAPPURAM.Mar 31 121 -0.94 -0.82 23805000
TRENT.Mar 31 1150.1 0.26 -0.66 2832575 PFIZER.Mar 31 4427.15 -0.35 -1.61 99125
GLENMARK.Mar 31 445.3 0.42 -0.25 7300200 DELTACORP.Mar 31 273.2 -0.24 -0.7 13008800

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Marico Limited 500.8 1.66 1022074 0 79.43 Nifty50 16594.9 1.53 80631
Pfizer Ltd. 4390.2 -0.77 41330 0 76.6 Niftybank 34475.6 1.95 80631
Abb Limited 2157.95 0.71 145468 0 76.4 Nifty it 35399.1 -0.12 80631
Colgate Palmolive (india 1496.95 3.31 745076 0 73.06 India Vix 25.58 -6.88 80631
Godrej Cons Products Ltd 710.85 1.26 2212776 0 71.97 Nifty Fmcg 35530.3 3.03 80631
Icici Lombard General In 1260.15 1.95 1099064 0 71.38 Nifty Pharma 13077.05 0.14 80631
Alembic Pharmaceuticals 722.8 0.09 149939 0 71.32 Nifty Realty 428.2 2.23 80631
Itc Ltd. 232 1.2 36132245 0 69.19 Nifty Auto 10019.35 1.9 80631
Dabur India Ltd. 545.7 3.33 1658773 0 66.91 Nifty Metal 6161.95 2.28 80631
Kotak Mahindra Bank Limi 1754.35 0.88 4188469 0 65.38 Nifty Media 2132.25 0.32 80631
Nifty Financial Services 16134.95 1.83 80634

UPCOMING ECONOMIC DATA

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

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

•USD:  Federal Budget Balance (Feb) on 11th March, 2022

NEWS UPDATES

  • RattanIndia Enterprises has forayed into the drone business in the country through its wholly-owned subsidiary NeoSky and expects the commercial rollout of products in the first quarter of 2023, a senior company official said on Thursday. The company has earmarked an initial investment of Rs 100 crore in NeoSky, which will design, manufacture and sell consumer micro drones across India, RattanIndia Enterprises Business Chairperson Anjali Rattan Nashier told PTI.
  • India Infrastructure Finance Company Ltd (IIFCL) on Thursday said it has raised Rs 6,000 crore in debt to provide impetus to government’s infrastructure vision. With a view to promote long term infrastructure finance in India, IIFCL after a span of eight years has raised funds from the domestic market through privately placed Non-Convertible Debt Securities for an amount of Rs 5,000 crore with a greenshoe option of Rs 1,000 crore, the company said in a statement.
  • Zydus Lifesciences on Thursday said the US health regulator has issued three observations after inspecting its Jarod (Vadodara) based manufacturing facility. The US Food and Drug Administration (USFDA) inspected the injectable facility from February 24 to March 10, 2022. The inspection closed with three observations, the drug firm said in a regulatory filing.
  • NMDC on Thursday said it has conducted an e-auction of 8,337 carats rough diamonds produced at its Panna diamond mines in Madhya Pradesh. In a statement, the state-owned miner said the e-auction process received an overwhelming response from Diamond merchants of Surat, Mumbai and Panna.

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

 BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
AMARJOTHI General 11-Mar-22 NBL General 12-Mar-22
DHANVARSHA Preferential Issue of shares 11-Mar-22 NIRMITEE Increase in Authorised Capital;Bonus issue 12-Mar-22
GAIL Interim Dividend;General 11-Mar-22 RPEL General 12-Mar-22
HVL General 11-Mar-22 ZPRBHSTE General 12-Mar-22
KESARPE General 11-Mar-22 20MICRONS General 14-Mar-22
MIRCH Increase in Authorised Capital;Pref. Issue 11-Mar-22 AGIIL Interim Dividend 14-Mar-22
RACE General 11-Mar-22 AYOME General 14-Mar-22
SHREYASI General 11-Mar-22 BBOX Stock  Split 14-Mar-22
DATASOFT General 12-Mar-22 JIGAR General 14-Mar-22
GGENG General 12-Mar-22 MIDHANI Interim Dividend 14-Mar-22
GORANIN Issue Of Warrants 12-Mar-22 NDASEC General 14-Mar-22
MDRNSTL Quarterly Results 12-Mar-22 PCS General 14-Mar-22
MIC General 12-Mar-22 PILITA General 14-Mar-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
SRTRANSFIN 11-Mar-22 Interim Dividend – Rs. – 12.00 BCG 15-Mar-22 Bonus issue 2:3
ARIHCAPM 14-Mar-22 Interim Dividend – Rs. – 0.7500 RAJGLOWIR 15-Mar-22 Stock  Split From Rs.10/- to Rs.2/-
DICIND 14-Mar-22 Final Dividend – Rs. – 3.00 TVSELECT 15-Mar-22 Interim Dividend – Rs. – 2.00
DICIND 14-Mar-22 Special Dividend – Rs. – 2.00 DRCSYSTEMS 16-Mar-22 Stock  Split From Rs.10/- to Rs.1/-
INFIBEAM 14-Mar-22 Bonus issue 1:1 JINDALSTEL 16-Mar-22 Interim Dividend – Rs. – 1.00
NLCINDIA 14-Mar-22 Interim Dividend – Rs. – 1.50 KMSUGAR 16-Mar-22 E.G.M.
RKFORGE 14-Mar-22 Stock  Split From Rs.10/- to Rs.2/- METROBRAND 16-Mar-22 Interim Dividend – Rs. – 1.50
AIML 15-Mar-22 Stock  Split From Rs.10/- to Rs.1/- RELTD 16-Mar-22 E.G.M.

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