Morning-Outlook-Feature-Image
Outlook

NIFTY:

Nifty opened at 17202.90 with a big gap up of 227 points. The index recorded its intraday low at 17175.75 and moved up. However, the raIly fizzled out quickly. The index recorded its intraday high at 17344.60. Prices have seen a decline and came very close to the opening tick. It was more of a choppy movement rather than a rally or decline. The index finally closed at 17285.05 wit h a gain of 311.70 points or 1.84% up. All the sectoral indices have performed well today and closed higher except IT which ended wit h a loss of 0.24%.BANK and FINANCIAL have led the bulls today and outperformed the whole market.

The recent rebound has certainly eased some pressure however lingering geopolitical tension combined wit h a rise in the COVID case in China will continue to keep the participants on the edge. We have been tracking a pattern of Bullish Head & Shoulder on a daily time frame wit h a pattern target of around 17850. This pattern is still in the picture. The target may or may not reach but it suggests the bias is on the upside. 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 short dip to buy.

BANK NIFTY:

BANK NIFTY opened at 36302 with a big gap up of 614 points. The index recorded its intraday low at 36261.65 a few ticks below the opening price and then started moving higher to record its intraday high at 36611.95. Prices then saw a decline and come close to its opening tick. The index finally closed at 36390.10 35688.05 wit ha gain of 702 points.

PVT BANKS have continued its outperformance and closed higher by 1.85%.PSU BANKS have also performed well today and closed higher by 0.90%. Within the index, in terms of points, HDFC BANK contributed the highest while AU BANK contributed the lowest.

The short-term trend is up. I he index has been moving higher since last week and rallied more than 4000 points from its recent swing lows. Resistance is now visible around 37000 while support should emerge around 35000.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
TATACHEM 939 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 930 and for the target of 960.
GUJGAS 504 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
IRCTC 780 CE BUY 21 CMP 15 35 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
TATACHEM.Mar 31 942.15 0.01 0.78 5033000 ABB.Mar 31 2099 -4.36 3.89 220500
IRCTC.Mar 31 769.6 0.03 0.7 10259375 LALPATHLAB.Mar 31 2620 -2.47 15.08 743875
PERSISTENT.Mar 31 4445.5 0.08 57.58 473700 ATUL.Mar 31 9683.8 -2.15 0.92 107175
CUB.Mar 31 121.15 0.08 5.56 10771200 APOLLOHOSP.Mar 31 4857.1 -2.04 4.83 2136125
FSL.Mar 31 126.15 0.08 1.41 14799200 HONAUT.Mar 31 39284.9 -1.45 2.72 9060
                                                                        Short Covering                                                                       Long Unwinding
INDUSINDBK.Mar 31 933.25 0.02 -3.95 24234300 OBEROIRLTY.Mar 31 916.6 -1.32 -0.78 2046800
LAURUSLABS.Mar 31 582.25 0.13 -2.76 5778000 AUBANK.Mar 31 1166.45 -1.24 -1.1 2419500
BHEL.Mar 31 51.6 0.29 -0.71 94416000 BALRAMCHIN.Mar 31 481 -1.2 -0.75 6355200
TECHM.Mar 31 1500 0.38 -0.22 13686600 ABBOTINDIA.Mar 31 17338.6 -0.33 -0.88 30800
MCX.Mar 31 1425 0.39 -1.47 1951250 PNB.Mar 31 35.95 -0.28 -2.23 1.66E+08

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Tata Consultancy Serv Lt 3672.75 0.46 3600452 0 76.85 Nifty50 17287.05 1.84 83916
Gmr Infrastructure Limit 38.15 -0.91 35106874 0 74.93 Niftybank 36428.55 1.9 83916
Alkem 3438.95 0.7 120404 0 71.47 Nifty it 35643.6 -0.24 83916
Escorts India Ltd. 1837.5 0.56 674657 0 69.92 India Vix 22.61 -6.26 83916
Abbott India Limited 17257.9 -0.37 14542 0 68.92 Nifty Fmcg 36782.7 1.4 83916
Bosch Limited 14585.75 3.58 95719 0 68.75 Nifty Pharma 13546.05 1.28 83916
Power Grid Corporation o 211.55 1.05 21348466 0 68.54 Nifty Realty 450.75 3.13 83916
Oracle Fin Serv Soft Ltd 3553.55 0.57 114134 0 66.63 Nifty Auto 10576 2.18 83916
Hdfc Bank Ltd. 1480.05 2.2 7411977 0 66.04 Nifty Metal 6183.8 1.95 83916
Sbi Life Insurance Compa 1128.55 3.94 1867149 0 65.35 Nifty Media 2171.75 1.13 83916
Icici Prudential Life In 492.3 5.08 2725253 0 65.04 Nifty Financial Services 17137.4 2.77 83919

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: FX Reserves, USD on 25th March, 2022 •USD: API Weekly Crude Oil Stock on 23rd March, 2022

•USD:  New Home Sales (Feb) on 23rd March, 2022

NEWS UPDATES

  • SBI has lined-up a dozen non-performing assets (NPAs) on sale to recover loan dues of over Rs 820 crore, as per the bank’s notifications. In terms of the bank’s policy on sale of financial assets, in line with the regulatory guidelines, SBI said it has placed these accounts for sale to asset reconstruction companies (ARCs)/banks/Non-Banking Financial Companies (NBFCs)/financial institutions (FIs), on the terms and conditions indicated there against.
  • Tata Motors, the country’s biggest automotive company by revenue, is in advanced negotiations to take over Ford India’s Sanand plant in Gujarat, several people aware of the talks told ET. The US carmaker had announced its exit from the local automobile market in September last year. Tata Motors is the leading contender in the race to acquire one of the two Ford factories in India. Its rivals for the manufacturing facility include MG Motor and Bhavish Aggarwal-promoted Ola.
  • India’s oil imports from the United States will rise by 11% this year, officials said on Saturday, as the severely energy-deficient country looks to secure supplies from producers around the world, including heavily sanctioned Russia. The surge in oil prices following Russia’s invasion of Ukraine last month threatens to fan Indian inflation, stretch public finances and hurt growth just when it was emerging from a pandemic-induced slowdown.
  • Suzuki Motor Corporation on Sunday said it will invest around 150 billion yen (about Rs 10,445 crore) by 2026, for local manufacturing of Battery Electric Vehicles (BEV) and BEV batteries in Gujarat The company, a leader in the mass market segment, has maintained that at the current prices it would be difficult to sell affordable EVs at mass scale.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
ALANKIT General 21-Mar-22 RITHWIKFMS General 21-Mar-22
BENARA General 21-Mar-22 SRINACHA General 21-Mar-22
DHAMPURSUG Interim Dividend 21-Mar-22 TELECANOR Preferential Issue of shares;General 21-Mar-22
DSSL General 21-Mar-22 BEML Interim Dividend 22-Mar-22
FEDDERELEC General;Audited Results 21-Mar-22 DUCON General 22-Mar-22
HEXATRADEX Voluntary Delisting of Shares 21-Mar-22 HUDCO Interim Dividend;General 22-Mar-22
INDRANIB Preferential Issue of shares;General 21-Mar-22 IBULHSGFIN General 22-Mar-22
ISWL General 21-Mar-22 MUDUNURU Preferential Issue of shares;General 22-Mar-22
MADHAV General 21-Mar-22 PHOTOQUP General 22-Mar-22
NAVODAYENT General 21-Mar-22 PRECISION General 22-Mar-22
PROFINC Bonus issue;Stock  Split 21-Mar-22 ROSSELLIND Preferential Issue of shares 22-Mar-22
RECLTD General 21-Mar-22 SATIN General 22-Mar-22
REGTRUS Buy Back of Shares 21-Mar-22 SBICARD Interim Dividend 22-Mar-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
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
VIRINCHI 21-Mar-22 Bonus issue 1:1 BEL 24-Mar-22 Interim Dividend
AGIIL 22-Mar-22 Interim Dividend – Rs. – 1.0000 DJML 24-Mar-22 Bonus issue 1:1
BCLIL 22-Mar-22 Interim Dividend – Rs. – 2.0000 NDL 24-Mar-22 Bonus issue 2:1
DCW 22-Mar-22 E.G.M. RITES 24-Mar-22 Interim Dividend – Rs. – 7.5000

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