Morning-Outlook-Feature-Image
Outlook

NIFTY:

Nifty opened at 16876.65 with a big gap up of 213 points. The index recorded its intraday low at 16837.85 and moved up. However. the raIly fizzled out quickly. Prices have seen a decline and came very close to the opening tick. The index finds support there and again bounced up. However, the rally soon converted into a consolidation. The consolidation then broke on the upside and prices have recorded its intraday high at 16987.90. The index finally closed at 16975.35 near its day highs w it h a ga in of 312.35 points or 1.87%u p. All the sectoral indices have performed well today and closed higher. REALTY closed higher by 3.64% while BANK, AUTO,METAL ended with a gain of more than 2%.

A pattern of Bullish Head & Shoulder on the daily time with a pattern target of around 17850 remained intact and it will get canceled if prices close below  16450. For the time being, we should focus on trading intraday only. We should prefer buying on a dip or any intraday consolidation breakouts. Carry forward traders should now wait for a dip towards 16900 to buy.

BANK NIFTY:

BANK NIFTY opened at 35555.75 wit h a big gap up of 611 points. The index continued its bullish momentum after the opening tick and rallied higher to record its intraday high at 35806.35. Prices have recorded its intraday low at 35461.55. Prices have spent almost the whole day moving within these two levels and finally closed at 35688.05 with a gain of 744 points. PVT BANKS have outperformed today and closed higher by 2.44%. PSU BANKS have also performed better today and closed higher by 1.41%. Within the index, in terms of points, AXIS BANK contributed the highest while PNB contributed the lowest. The short-term trend is now up. The index resumes its up move after one day of decline and broken above 35500 resistances. However, we did not see a follow through here. For the next few trading days, we should avoid taking carry forwards trades and shift our focus on trading intraday. For tomorrow, we should look for an Opening range Breakout trade.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
INDHOTEL 211 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 208 and for the target of 220.
GUJGAS 502 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 500 with a stop loss of 510 and target  of 485.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
VOLTAS 1280 CE BUY 37 CMP 25 60 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
MOTHERSUMI.Mar 31 133.8 0 3.94 37530500 MPHASIS.Mar 31 3084 -3.2 22.21 1880375
LTI.Mar 31 6050 0.01 5.83 1025850 PFIZER.Mar 31 4359.6 -1.24 6.22 113125
CUMMINSIND.Mar 31 1031.2 0.11 0.11 1625400 GUJGASLTD.Mar 31 504.5 -1.08 18.45 3411250
POWERGRID.Mar 31 210.65 0.14 3.05 32984605 CHAMBLFERT.Mar 31 404.15 -0.9 6.6 2302500
NAVINFLUOR.Mar 31 3965 0.19 2.52 374625 HONAUT.Mar 31 39928.35 -0.4 10.59 8925
                                                                        Short Covering                                                                       Long Unwinding
DIVISLAB.Mar 31 4409.9 0.26 -0.57 2285200 CIPLA.Mar 31 1056 -0.64 -1.75 9738950
ESCORTS.Mar 31 1735 0.41 -1.93 2456850 PNB.Mar 31 36.05 -0.14 -1.92 1.71E+08
MRF.Mar 31 68450 0.48 -1.77 75510 TATACONSUM.Mar 31 751 -0.03 -0.37 9531000
ABBOTINDIA.Mar 31 17339.55 0.54 -0.87 31400
DRREDDY.Mar 31 3937.35 0.69 -0.68 3035750

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Tata Consultancy Serv Lt 3655.9 1.73 3090475 0 80.46 Nifty50 16975.35 1.87 77433
Escorts India Ltd. 1827.35 0.97 1457895 0 69.88 Niftybank 35748.25 2.07 77433
Crompton Greaves Consume 393.5 0.11 1475668 0 69.27 Nifty it 35729.65 1.8 77433
Icici Lombard General In 1219.2 0.7 1180168 0 68.97 India Vix 24.12 -9.76 77433
Infosys Limited 1889.4 2.72 5233979 0 67.87 Nifty Fmcg 36273.6 1.75 77433
Power Grid Corporation o 209.35 -0.14 8950331 0 66 Nifty Pharma 13374.5 0.42 77433
Hindustan Unilever Ltd 2072.15 1.67 2808685 0 65.28 Nifty Realty 437.05 3.64 77433
Hdfc Bank Ltd. 1448.15 1.7 6682054 0 63.87 Nifty Auto 10350.1 2.16 77433
Icici Bank Ltd. 708 1.53 14621688 0 63.53 Nifty Metal 6065.7 2.63 77433
Itc Ltd. 242.6 2 21629521 0 63.23 Nifty Media 2147.45 0.66 77433

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: FX Reserves, USD on 18th March, 2022 •USD: Building Permits (Feb) on 17th March, 2022

•USD: Initial Jobless Claims on 17th March, 2022

NEWS UPDATES

  • Future Retail said on Wednesday it was committed to taking back its stores which were seized by rival Reliance, saying it had been surprised by the move. Reliance, India’s biggest retailer, stunned Future on Feb 25 with its staff suddenly showing up at many of Future’s biggest stores to assume control, in what was seen as a de facto takeover. The takeover occurred even though Future’s sparring partner, Amazon.com Inc, says it had legal injunctions in place prohibiting such store transfers.
  • India’s Bharat Petroleum Corp has deferred a maintenance shutdown of a crude unit at a 240,000 barrels per day (bpd) Mumbai refinery to May as its seeks to gain from strong fuel cracks, two sources aware of the plan said. India’s second-biggest state refiner had plans to shut a 120,000 bpd crude unit and some secondary units including a diesel hydro desulphuriser and a hydrogen generation unit for 20-25 days from the end of this month, they said.
  • US Coffee chain Starbucks, the company which has a joint venture with Tata Consumer Products in India, has announced that it is planning to open eight airport stores in six cities to expand its network in the country.
  • Tata Motors hot-selling electric SUV, Nexon EV, price has been increased across range. Tata Nexon EV comes in five variants and a maximum hike of ₹25,000 has been imposed on them. There is no official comment from the Mumbai-based automaker on the price hike yet. Tata Nexon EV comes in XM, XZ Plus, XZ Plus Luxury, Dark XZ Plus, and the Dark XZ Plus Luxury variants. Lastly, Tata Nexon EV was priced at ₹14.29 lakh (ex-showroom) but now it will cost ₹14.54 lakh (ex-showroom).

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
BEL Interim Dividend 17-Mar-22 RISHDIGA General 17-Mar-22
CAPACITE General 17-Mar-22 BIRLACAP Quarterly Results 18-Mar-22
DATAINFRA General 17-Mar-22 KABRADG General 18-Mar-22
DHANBANK Right Issue of Equity Shares 17-Mar-22 PUNITCO General 18-Mar-22
DIKSAT General 17-Mar-22 TVSMOTOR Interim Dividend 18-Mar-22
EASTWEST General 17-Mar-22 LACTOSE General 19-Mar-22
EMBASSY General 17-Mar-22 WHITEORG Right Issue of Equity Shares 19-Mar-22
ENCASH General 17-Mar-22 AARTECH General 21-Mar-22
J&KBANK General 17-Mar-22 ALANKIT General 21-Mar-22
KALLAM Right Issue of Equity Shares 17-Mar-22 BENARA General 21-Mar-22
MANAPPURAM General 17-Mar-22 DHAMPURSUG Interim Dividend 21-Mar-22
MISQUITA General 17-Mar-22 DSSL General 21-Mar-22
POWERGRID General 17-Mar-22 FEDDERELEC Audited Results;General 21-Mar-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
ASMTEC 17-Mar-22 Right Issue of Equity Shares VIRINCHI 21-Mar-22 Bonus issue 1:1
AYOME 17-Mar-22 E.G.M. AGIIL 22-Mar-22 Interim Dividend – Rs. – 1.0000
INNOVATIVE 17-Mar-22 E.G.M. BCLIL 22-Mar-22 Interim Dividend – Rs. – 2.0000
SUNTV 17-Mar-22 Interim Dividend – Rs. – 5.0000 DCW 22-Mar-22 E.G.M.
ADVIKLA 21-Mar-22 E.G.M. MIDHANI 22-Mar-22 Interim Dividend – Rs. – 1.5600
BPCAP 21-Mar-22 E.G.M. VSL 22-Mar-22 E.G.M.
GAIL 21-Mar-22 Interim Dividend – Rs. – 5.0000 MOLDTEK 23-Mar-22 Interim Dividend – Rs. – 1.7000
SPVGLOBAL 21-Mar-22 Right Issue of Equity Shares ALLCARGO 24-Mar-22 Interim Dividend – Rs. – 3.0000

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