NIFTY:
Nifty opened at 16900.65 with a gap up of 29 points. The index first, consolidated, recorded its intraday high at 16927.75 and then broke on the downside. A breakdown from a tight narrow range led prices to a decline of more than 350 points. The index recorded its intraday low at 16555 towards the end of today’s trading session. A minor recovery came in the last 30 minutes of trading of about 150 points and the index finally closed at 16663 near its day lows with a loss of 208.30 points or 1.23% down. AUTO, FMCG outperformed today and closed with gains. All the other sectoral indices have seen a decline today and closed lower led by the METAL which ended with a loss of more than 4%.
NIFTY broke its five days of a higher closing streak and ended below 16700. Yesterday, we mentioned a strong resistance zone inside 16800 16900. Prices have respected this and turned down. A pattern of Bullish Head & Shoulder on the daily time with a pattern target of around 17850 will get canceled if prices close below 16450. This will also suggest us taking a short trade while holding 16450 levels will give us a buying opportunity.
BANK NIFTY:
BANK NIFTY opened at 35467.95 with a gap up of 124 points. The index first moved down filled the gap and then rallied higher to record its intraday high at 35643.80. Prices then saw a steep fall of more than 900 points to record its intraday low at 34706.05. A minor recovery came in the last 30 minutes of trading and the index finally closed at 34944.85 with a loss of 399 points. PSU and PVT BANKS both indices have performed almost same today, saw a sharp intraday decline and closed lower by nearly 1%. Within the index, in terms of points, BANDHAN BANK contributed the highest while HDFC BANK contributed the lowest.
We have mentioned a resistance is around 35500 and prices have respected that level today. The short term trend remained sideways. A minor support is visible around 34000. We should look for buying if this support holds.
TECHNICAL PICKS
| COMPANY NAME | CMP | B/S | RATIONALE+ |
| ICICIBANK | 694 | 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 685 and for the target of 715. |
| TATASTEEL | 1229 | 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 1228 with a stop loss of 1240 and target of 1200. |
DERIVATIVE PICKS
| Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| POLYCAB | 2400 CE | BUY | 87 | CMP | 70 | 120 | OI Increase |
Long Unwinding
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| DIVISLAB.Mar 31 | 4403 | 0.07 | 1.96 | 2346600 | JINDALSTEL.Mar 31 | 448.85 | -5.9 | 0.9 | 35847500 | |
| INDIGO.Mar 31 | 1841.55 | 0.07 | 0.84 | 3141500 | CROMPTON.Mar 31 | 386.85 | -4.75 | 2.63 | 4375800 | |
| ICICIBANK.Mar 31 | 697.3 | 0.07 | 2.49 | 1.27E+08 | NMDC.Mar 31 | 148.55 | -4.71 | 1.29 | 62718700 | |
| GODREJPROP.Mar 31 | 1497 | 0.15 | 1.64 | 4828525 | SAIL.Mar 31 | 92.4 | -4.55 | 3.83 | 1.6E+08 | |
| DEEPAKNTR.Mar 31 | 2224.6 | 0.16 | 6.6 | 1781500 | TATASTEEL.Mar 31 | 1247.15 | -4.25 | 0.89 | 37193875 | |
| Short Covering | ||||||||||
| AUBANK.Mar 31 | 1171.85 | 5 | -7.7 | 2745500 | BALRAMCHIN.Mar 31 | 468.1 | -6.96 | -12.14 | 8384000 | |
| METROPOLIS.Mar 31 | 1938.15 | 2.41 | -3.68 | 758600 | ONGC.Mar 31 | 162 | -5.68 | -0.95 | 32209100 | |
| VOLTAS.Mar 31 | 1214 | 1.96 | -2.82 | 4290500 | GNFC.Mar 31 | 692.25 | -5.03 | -7.91 | 2740400 | |
| ATUL.Mar 31 | 9647.5 | 1.58 | -3.73 | 116175 | HINDALCO.Mar 31 | 561.45 | -5.01 | -0.78 | 31464175 | |
| INDIACEM.Mar 31 | 207 | 1.47 | -0.02 | 12783200 | CHAMBLFERT.Mar 31 | 406.5 | -4 | -7.88 | 2314500 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Abb Limited | 2068 | -0.51 | 93246 | 0 | 78.99 | Nifty50 | 16706.5 | -0.98 | 54261 | |
| Marico Limited | 510.35 | 0.64 | 716626 | 0 | 72.31 | Niftybank | 35094.95 | -0.62 | 54261 | |
| Dabur India Ltd. | 554.25 | 2.52 | 1884009 | 0 | 70.02 | Nifty it | 35433.55 | -1.65 | 54261 | |
| Icici Bank Ltd. | 696.95 | 0.11 | 19681525 | 0 | 67.62 | India Vix | 26.52 | 3.25 | 54261 | |
| Colgate Palmolive (india | 1526.95 | 0.53 | 310656 | 0 | 67.55 | Nifty Fmcg | 35636.6 | 0.13 | 54258 | |
| Alkem | 3380 | -0.02 | 65524 | 0 | 67.11 | Nifty Pharma | 13345.5 | -0.05 | 54258 | |
| City Union Bank Ltd. | 121 | 0.54 | 1447629 | 0 | 66.9 | Nifty Realty | 422.9 | -0.01 | 54258 | |
| Itc Ltd. | 236.9 | -0.88 | 26145167 | 0 | 65.13 | Nifty Auto | 10180.8 | 1.06 | 54258 | |
| Voltas Ltd. | 1214.85 | 1.96 | 992624 | 0 | 64.91 | Nifty Metal | 5929.8 | -3.75 | 54258 | |
| Infosys Limited | 1847.9 | -2.26 | 4584814 | 0 | 64.78 | Nifty Financial Services | 16401.6 | -0.68 | 54258 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: FX Reserves, USD on 18th March, 2022 | •USD: Fed Interest Rate Decision on 16th March, 2022
•USD: Retail Sales (MoM) (Feb) on 16th March, 2022 |
NEWS UPDATES
- Tata Motors is planning to invest Rs 15,000 crore in the EV segment in the next five years, a top company official has said. The company, which is a leader in the newly emerging EV segment with offerings such as Nexon, is also planning to develop around 10 more new offerings in the segment, President for Passenger Vehicles Business of Tata Motors Shailesh Chandra said. The company had raised USD 1 billion in funding from private equity major TPG in its EV division, valuing the business at USD 9.1 billion.
- Ratan Tata-backed BlueStone, a leading omnichannel jewellery retailer, has raised over $30 million in funding at a valuation of $410 million. The funding round was led by Sunil Kant Munjal, Chairman, Hero Enterprise, who is an acknowledged go-to investor for many startups across stages. BlueStone is India’s largest omnichannel precious jewellery brand with a design-led approach and with fresh collections being updated every month.
- Breaking his silence over the Essel group’s dispute with Yes Bank, group patriarch Subhash Chandra said the bank should decide its role as shareholder of satellite TV broadcaster Dish TV India, or a lender, so that the group can accordingly take steps to settle the pending issues with the bank. In an interview, the founder of Zee group said the family’s settlement offer is in Yes Bank’s court and the lender has not taken any steps yet to take the matter forward.
- In a bid to provide battery swapping stations for Greaves electric vehicles in India, domestic smart mobility solution Bounce Infinity on Tuesday announced that it plans to set up 300 charging stations each in 10 cities across the country.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint.
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| ADFFOODS | General | 16-Mar-22 | URJAGLOBA | General | 16-Mar-22 |
| ALLCARGO | Interim Dividend | 16-Mar-22 | YASHCHEM | Interim Dividend | 16-Mar-22 |
| ATHARVENT | General | 16-Mar-22 | YASHO | General | 16-Mar-22 |
| COSPOWER | General | 16-Mar-22 | BEL | Interim Dividend | 17-Mar-22 |
| LANDMARC | General | 16-Mar-22 | CAPACITE | General | 17-Mar-22 |
| MYSPAPE | Quarterly Results | 16-Mar-22 | DATAINFRA | General | 17-Mar-22 |
| RAJNISH | General | 16-Mar-22 | DHANBANK | Right Issue of Equity Shares | 17-Mar-22 |
| RVNL | Interim Dividend | 16-Mar-22 | DIKSAT | General | 17-Mar-22 |
| SAIL | Interim Dividend | 16-Mar-22 | EASTWEST | General | 17-Mar-22 |
| SHRICON | General | 16-Mar-22 | EMBASSY | General | 17-Mar-22 |
| SIMPLEX | Quarterly Results | 16-Mar-22 | ENCASH | General | 17-Mar-22 |
| SMAUTO | General | 16-Mar-22 | KALLAM | Right Issue of Equity Shares | 17-Mar-22 |
| UNJHAFOR | General | 16-Mar-22 | MANAPPURAM | General | 17-Mar-22 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| 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. |
| RELTD | 16-Mar-22 | E.G.M. | BPCAP | 21-Mar-22 | E.G.M. |
| SHIVMED | 16-Mar-22 | Resolution Plan -Suspension | GAIL | 21-Mar-22 | Interim Dividend – Rs. – 5.0000 |
| SHRIRAMCIT | 16-Mar-22 | Interim Dividend – Rs. – 27.0000 | VIRINCHI | 21-Mar-22 | Bonus issue 1:1 |
| ASMTEC | 17-Mar-22 | Right Issue of Equity Shares | AGIIL | 22-Mar-22 | Interim Dividend – Rs. – 1.0000 |
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