Morning-Outlook-Feature-Image
Outlook

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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