Morning-Outlook-Feature-Image
Outlook

NIFTY:

Nifty opened at 17329.50 with a gap up of 44 points. The index recorded its intraday high at 17353.35 and turned down to fill the gap. Prices have seen a down move of more than 100 points and then again started a process of consolidation. The range again broke on the downside and the index fell 150 points. In the last two hours of trading prices again consolidated, recorded its intraday low at 17096.40, and finally closed at 17117.60 with a loss of 169.45 points or 0.98% down. The METAL sector outperformed today and closed higher by 1.50%. FMCG, AUTO, BANK, and FINANCIAL have led the bears today and closed with a loss of more than 1%.

The short ­term trend is still on the upside as today’s decline is a correction of the last two days of a sharp upside move. The volatility slightly rose today as the India VIX is trading around level 25. We have been looking for a buying opportunity on a dip and it seems that the dip came today. Tomorrow, look to buy on a dip at or below 16900. But if the index did not reach there and started moving higher then we will be buying on a breakout above 17350. In both cases, keep a stop of 110 points and a target of 240 points. Moreover, we have been tracking a pattern of Bullish Head & Shoulder on a daily time frame with a pattern target of around 17 850. This pattern is also suggesting bullishness in the markets.

BANK NIFTY:

BANK NIFTY opened at 36545.85 with a gap up of 155 points. The index recorded its intraday high at 36600 and the started moving on the downside. A consolidation begins afterward but soon it broke down and prices recorded its intraday low at 35900.20. Within the index, in term of points, HDFC BANK contributed the highest while SBIN contributed the lowest.

The short ­term trend is still up and we were looking for a buying opportunity on a dip. The idea here is to buy on a dip at or below 35500 with a stop at 35200 and a target at 36400. But if index started rising before reaching the 35500 then we should look to buy on a breakout above 36600 with a stop at 36300 and a target at 37300.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
POLYCAB 2439 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 2420 and for the target of 2480.
IGL 374 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 373 with a stop loss of 380 and target  of 365.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
RELIANCE 2500 CE BUY 32 CMP 20 55 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
COROMANDEL.Mar 31 852.95 0.01 16.78 1000625 PETRONET.Mar 31 194.9 -5.71 13.98 21813000
INFY.Mar 31 1862.85 0.02 5 29246100 IGL.Mar 31 374.6 -4.78 3.58 14107500
MPHASIS.Mar 31 3119.35 0.07 1.71 1574475 TORNTPHARM.Mar 31 2753.05 -4.6 5.33 850000
DIXON.Mar 31 4465.7 0.16 3.73 458625 INDIGO.Mar 31 1822.85 -4.12 6.83 3036250
TITAN.Mar 31 2718.05 0.19 2.5 4734375 MFSL.Mar 31 775.5 -4.06 6.48 1878500
                                                                        Short Covering                                                                       Long Unwinding
POLYCAB.Mar 31 2444.95 0.15 -2.8 541800 GRASIM.Mar 31 1573.5 -3.24 -0.04 10340750
IRCTC.Mar 31 770 0.17 -1.08 10054625 BALKRISIND.Mar 31 2068 -3.14 -0.1 1222400
NMDC.Mar 31 152.1 0.66 -1.99 58176100 CHOLAFIN.Mar 31 700.3 -2.79 -0.78 8607500
AUBANK.Mar 31 1175.95 0.79 -4.49 2276000 IBULHSGFIN.Mar 31 157.2 -2.69 -1.85 32481800
LTTS.Mar 31 4790 0.86 -1.91 566400 APOLLOTYRE.Mar 31 188.9 -2.55 -0.14 14300000

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

Tata Motors on Monday said it has launched its premium hatchback Altroz with dual-clutch automatic transmission, priced between Rs 8.09 lakh and Rs 9.89 lakh (ex-showroom). Altroz DCA comes equipped with several segment-first features, such as a wet clutch with active cooling technology, machine learning, shift by wire technology, self-healing mechanism, and auto park lock. The model is powered by a 1.2-litre petrol engine.

European aircraft manufacturer Airbus is in talks with Tata Group and Indian carriers for a deal regarding the procurement of its wide-bodied A350XWB planes, President and MD of Airbus India & South Asia, Remi Maillard said on Monday. The Tata Group currently runs four Indian carriers – Air India, Air India Express, Vistara and AirAsia India.

As many as 11 banks have recovered nearly Rs 61,000 crore by way of one-time settlement in nearly four financial years, the government informed Parliament on Monday. The figures are for the last three financial years and up to December 2021 of the current fiscal. As per instructions of the Reserve Bank, banks are required to have a board-approved loan recovery policy, which may cover negotiated settlements through compromise, including one-time settlement (OTS) under which recovery in non-performing assets (NPA) loan accounts are to be effected to the maximum extent possible at minimum expense, Minister of State for Finance Bhagwat Karad said in a written a reply to the Lok Sabha.

Asian Granito files draft papers for its rights issue to raise about Rs500 crore on Monday. Following this, the company shares witnessed massive buying sentiment on stock exchanges. While announcing the filing of the rights issue draft, the company highlighted a mega expansion plan.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
BEML Interim Dividend 22-Mar-22 CREDITACC General 23-Mar-22
DUCON General 22-Mar-22 FLUOROCHEM Interim Dividend 23-Mar-22
HUDCO Interim Dividend;General 22-Mar-22 MACH General 23-Mar-22
IBULHSGFIN General 22-Mar-22 MDRNSTL Quarterly Results 23-Mar-22
KTKBANK General 22-Mar-22 MMTC Quarterly Results 23-Mar-22
MUDUNURU Preferential Issue of shares;General 22-Mar-22 NIVAKA General 23-Mar-22
PHOTOQUP General 22-Mar-22 PUNJCOMMU General 23-Mar-22
ROSSELLIND Preferential Issue of shares 22-Mar-22 UNITECH Quarterly Results 23-Mar-22
SATIN General 22-Mar-22 VANICOM General 23-Mar-22
SBICARD Interim Dividend 22-Mar-22 BIRLACAP Quarterly Results 24-Mar-22
SBILIFE Interim Dividend 22-Mar-22 CHLOGIST General 24-Mar-22
SUNCLAYLTD Interim Dividend 22-Mar-22 GICRE General 24-Mar-22
BCONCEPTS Employees Stock Option Plan;General 23-Mar-22 MARG Quarterly Results 24-Mar-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
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
MIDHANI 22-Mar-22 Interim Dividend – Rs. – 1.5600 RVNL 24-Mar-22 Interim Dividend – Rs. – 1.5800
VSL 22-Mar-22 E.G.M. VTL 24-Mar-22 Stock  Split From Rs.10/- to Rs.2/-
MOLDTEK 23-Mar-22 Interim Dividend – Rs. – 1.7000 CENTEXT 25-Mar-22 E.G.M.
ALLCARGO 24-Mar-22 Interim Dividend – Rs. – 3.0000 DATAINFRA 25-Mar-22 Income Distribution (InvIT)
BEL 24-Mar-22 Interim Dividend – Rs. – 1.5000 DILIGENT 25-Mar-22 E.G.M.

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