Outlook

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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