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 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.
|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.|
|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|
|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|
|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
|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
- 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.
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|DHAMPURSUG||Interim Dividend||21-Mar-22||TELECANOR||Preferential Issue of shares;General||21-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|
|PROFINC||Bonus issue;Stock Split||21-Mar-22||ROSSELLIND||Preferential Issue of shares||22-Mar-22|
|REGTRUS||Buy Back of Shares||21-Mar-22||SBICARD||Interim Dividend||22-Mar-22|
|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|
|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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