NIFTY:
Nifty opened at 16633.70 without much of a gap. The index first moved down but soon the decline found support. Prices have recorded its intraday low at 16606.50. The index bounced up, recovered all the losses that came in the morning, and then moved further on the upside. Minor dips in between were used to add or create fresh long positions. The index recorded its intraday high at 16887.95 towards the end of today’s trading session and finally closed at 16871.30 near its day highs with a gain of 240.85 points or 1.45% up . BANK and FINANCIAL have led the bulls today, ending with a gain of more than 2% followed by the IT sector that ended with a gain of nearly 2%. REALTY, METAL, and PHARMA underperformed today and closed lower.
The NIFTY continued its bullish momentum started last week and closed higher for the fourth consecutive trading day. Moreover, a strong resistance around 16800 broke decisively on the upside and the index closed higher. However, a zone inside 16800 16900 had acted as strong support previously on many occasions so we may see some choppiness around this zone. A pattern of Bullish Head & Shoulder also confirmed today that gives us a pattern target around 17850. The shortterm trend is up and today was a trend day on the upside. We should look for buying only on any dips and consolidation breakout as far as the index is moving above 16800.
BANK NIFTY:
BANK NIFTY opened at 34660.25 with a gap up of 114 points. The index first consolidated about 45 minutes, recorded its intraday low at 34625.05 and then broke on the upside. Prices have kept on moving higher and recorded its intraday high at 35435.10. The index finally closed at 35343.65 with a gain of 797 points. PSU and PVT BANKS both indices have performed almost same today, saw a sharp intraday rally and closed higher by nearly 2%. Bullish momentum from the last week continued today and prices have continued its higher closing streak. A resistance is visible around 35500 and prices have come very close to this level. A close above 35500 will turned the shortterm trend to up which sideways as of now. We should stay long and look for buying only.
TECHNICAL PICKS
| COMPANY NAME | CMP | B/S | RATIONALE+ |
| GODREJCP | 710 | 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 700 and for the target of 730. |
| HINDPETRO | 279 | 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 278 with a stop loss of 282 and target of 270. |
DERIVATIVE PICKS
| Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| LAURUSLABS | 590 CE | BUY | 20 | CMP | 12 | 45 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| GODREJCP.Mar 31 | 713.35 | 0.06 | 0.1 | 9253000 | AUBANK.Mar 31 | 1116 | -6.83 | 32.2 | 2974500 | |
| LAURUSLABS.Mar 31 | 581.2 | 0.07 | 13.55 | 6138000 | HINDPETRO.Mar 31 | 280.5 | -5.06 | 2.18 | 14661000 | |
| GUJGASLTD.Mar 31 | 513.45 | 0.21 | 9.61 | 3080000 | NATIONALUM.Mar 31 | 117.85 | -3.64 | 3.02 | 91443000 | |
| ADANIPORTS.Mar 31 | 733.65 | 0.29 | 0.01 | 81193750 | HINDCOPPER.Mar 31 | 120.1 | -3.38 | 2.23 | 15578900 | |
| POWERGRID.Mar 31 | 214.05 | 0.4 | 2.12 | 31310043 | IOC.Mar 31 | 119.3 | -3.01 | 2.41 | 35659000 | |
| Short Covering | Long Unwinding | |||||||||
| MIDCPNIFTY.Mar 29 | 6900.3 | 0 | -4.55 | 1575 | JUBLFOOD.Mar 31 | 2520.05 | -12.23 | -5.27 | 2578500 | |
| HINDALCO.Mar 31 | 591.05 | 0.02 | -0.18 | 31710350 | IEX.Mar 31 | 220.1 | -2.72 | -2.84 | 34237500 | |
| AMARAJABAT.Mar 31 | 578.4 | 0.05 | -0.05 | 6373000 | SAIL.Mar 31 | 96.8 | -2.52 | -1.24 | 1.55E+08 | |
| TORNTPHARM.Mar 31 | 2840.2 | 0.17 | -1.21 | 793750 | IDEA.Mar 31 | 10.25 | -2.38 | -0.55 | 7.45E+08 | |
| ADANIENT.Mar 31 | 1742.55 | 0.18 | -0.82 | 19679000 | ABB.Mar 31 | 2083.35 | -2.15 | -2.06 | 202500 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Gmr Infrastructure Limit | 38.75 | -1.52 | 14545197 | 5692532 | 74.75 | Nifty50 | 16871.3 | 1.45 | 36024536 | |
| Oracle Fin Serv Soft Ltd | 3523.7 | 1.59 | 74228 | 41967 | 74.19 | Niftybank | 35312.15 | 2.22 | 17219794 | |
| Icici Lombard General In | 1257.1 | 0.09 | 454323 | 273851 | 72.13 | Nifty it | 36028 | 1.92 | 1341249 | |
| Pfizer Ltd. | 4373.5 | -2.24 | 24644 | 12391 | 68.29 | India Vix | 25.68 | 1.34 | 2.35E+08 | |
| Infosys Limited | 1890.7 | 3.77 | 10289724 | 6666093 | 67.14 | Nifty Fmcg | 35589.4 | -0.07 | 594044 | |
| Godrej Cons Products Ltd | 710 | 0.08 | 1006751 | 622276 | 66.77 | Nifty Pharma | 13351.9 | -0.35 | 45228059 | |
| Itc Ltd. | 239 | 1.12 | 35113638 | 22869875 | 66.5 | Nifty Realty | 422.95 | -1.69 | 1.42E+09 | |
| Hindustan Unilever Ltd | 2059.3 | -1.68 | 1730325 | 1104239 | 65.09 | Nifty Auto | 10074.3 | 0.95 | 60271399 | |
| Bata India Ltd. | 1844.3 | 2.02 | 236219 | 58083 | 64.46 | Nifty Metal | 6161.05 | -0.47 | 98045627 | |
| Tata Consultancy Serv Lt | 3643 | 1.22 | 1765688 | 947609 | 61.47 | Nifty Financial Services | 16514.25 | 2.16 | 5560185 | |
| Nifty Financial Services | 16165.2 | 0.19 | 77337 | |||||||
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: Trade Balance on 15th March, 2022
INR: FX Reserves, USD on 18th March, 2022 |
•USD: PPI (MoM) (Feb) ) on 15th March, 2022
•USD: Retail Sales (MoM) (Feb) on 16th March, 2022 |
NEWS UPDATES
- N Chandrasekaran, the chairman of Tata Sons, has been officially appointed as the chairman of Air India, reported news agency ANI on Monday. The appointment was cleared at a board meeting held today by Air India. Alice GeeVarghese Vaidyan, former CMD of General Insurance Corporation, will also be inducted as an independent director on board, reported Economic Times on Monday.
- On the back of a successful electrification of 1000 kms across multiple national highways with its unmanned electric vehicle (EV) charging points, Vadodara-based CHARGE+ZONE is now looking to raise $100 million for network expansion. Having set up 20 such EV charging points, including 15 company-owned company-operated (COCO), across 1000 kms on national highways like Ahmedabad-Rajkot, Mumbai-Nashik, Mumbai-Pune and Delhi-Jaipur, CHARGE+ZONE is now looking to cover over 10000 kms in the country.
- Hindustan Aeronautics Limited (HAL) has signed an MoU with Bengaluru-based company SASMOS to work together on advanced electronics, electrical and fibre optic interconnections in the aerospace domain. The a memorandum of understanding was signed between the two companies on March 11. HAL’s subsidiary Naini Aerospace Limited (NAeL) was also a signatory to the MoU, SASMOS’ statement noted.
- Paytm Payments Bank, which processes transactions for India’s digital payments giant Paytm, was barred from taking on new customers because it violated rules by allowing data to flow to servers abroad and didn’t properly verify its customers, according to a person familiar with the matter.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint.
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| ALSL | General | 15-Mar-22 | COSPOWER | General | 16-Mar-22 |
| ARIES | General | 15-Mar-22 | LANDMARC | General | 16-Mar-22 |
| CONTCHM | General | 15-Mar-22 | MYSPAPE | Quarterly Results | 16-Mar-22 |
| DEVIT | General | 15-Mar-22 | RAJNISH | General | 16-Mar-22 |
| KRANTI | General | 15-Mar-22 | RVNL | Interim Dividend | 16-Mar-22 |
| MODULEX | Right Issue of Equity Shares;Rights Issue | 15-Mar-22 | SHRICON | General | 16-Mar-22 |
| MOLDTEK | Interim Dividend | 15-Mar-22 | SIMPLEX | Quarterly Results | 16-Mar-22 |
| ODYCORP | General | 15-Mar-22 | SMAUTO | General | 16-Mar-22 |
| SPVGLOBAL | General;Rights Issue | 15-Mar-22 | UNJHAFOR | General | 16-Mar-22 |
| STCORP | General | 15-Mar-22 | URJAGLOBA | General | 16-Mar-22 |
| ADFFOODS | General | 16-Mar-22 | YASHCHEM | Interim Dividend | 16-Mar-22 |
| ALLCARGO | Interim Dividend | 16-Mar-22 | YASHO | General | 16-Mar-22 |
| ATHARVENT | General | 16-Mar-22 | BEL | Interim Dividend | 17-Mar-22 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| AIML | 15-Mar-22 | Stock Split From Rs.10/- to Rs.1/- | RELTD | 16-Mar-22 | E.G.M. |
| BCG | 15-Mar-22 | Bonus issue 2:3 | SHIVMED | 16-Mar-22 | Resolution Plan -Suspension |
| RAJGLOWIR | 15-Mar-22 | Stock Split From Rs.10/- to Rs.2/- | SHRIRAMCIT | 16-Mar-22 | Interim Dividend – Rs. – 27.0000 |
| TVSELECT | 15-Mar-22 | Interim Dividend – Rs. – 2.0000 | ASMTEC | 17-Mar-22 | Right Issue of Equity Shares |
| DRCSYSTEMS | 16-Mar-22 | Stock Split From Rs.10/- to Rs.1/- | AYOME | 17-Mar-22 | E.G.M. |
| JINDALSTEL | 16-Mar-22 | Interim Dividend – Rs. – 1.0000 | INNOVATIVE | 17-Mar-22 | E.G.M. |
| KMSUGAR | 16-Mar-22 | E.G.M. | SUNTV | 17-Mar-22 | Interim Dividend – Rs. – 5.0000 |
| METROBRAND | 16-Mar-22 | Interim Dividend – Rs. – 1.5000 | ADVIKLA | 21-Mar-22 | E.G.M. |
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