Morning-Outlook-Feature-Image
Outlook

NIFTY:

NIFTY opened at 16757.10 with a big gap up of 412 points. The index first moved down and then went up and recorded its intraday high almost at the opening tick. Prices face strong resistance there and then turn on the downside. Prices slowly moved down and then saw a sudden decline in the last afternoon to record its intraday low at 16447.90. The index has seen some recovery in the last one and half hours of trading and finally closed at 16594.90 with a gain of 249.55 points or 1.53% up. All the sectoral indices have seen an upside move today except the IT that ended with a minor loss. FMCG, METAL, and REALTY outperformed today and closed with more than 2% gains.

The short-term trend is sideways now and we have 16800 level as resistance and 16200 level as a support for the NIFTY Index. The NIFTY continued moving in a wide intraday range. The volatility index ‘INDIA VIX’ has seen a significant faII but still trading at a level where the volatility will be high. The first sign of low volatile markets will come when the VIX moves below 20. As mentioned yesterday, “Carry forward traders should step aside:·However, intraday traders should look for a trading opportunity on both sides of the market.

BANK NIFTY:

BANK NIFTY opened at 35153.95 with a big gap up of 1262 points. The index moved further of the upside and recorded its intraday high at 35374.15. Prices finds strong resistance there and then started drifting downwards. A sharp decline brought prices to its intraday low at 34218.05. Prices have consolidated in the last one and half hour of trading and finally closed at 34400.70 with a gain of 509 points. PSU BANKS outperformed today and closed with a gain of 2.33%. PVT BANKS have underperformed today but closed higher with a ga in of 1.80%. Within the index, in terms of points, SBIN contributed the highest while BANDHAN BANK contributed the lowest. The index has been recording wide intraday range from the last few trading days while the short-term trend changed to sideways due to a sharp upside correction. Resistance is now visible around 35500 while support may emerge around 32000.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
JUBLFOOD 2625 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 2550 and for the target of 2780.
TECHM 1538 BUY The  immediate trend of the script is bullish. There is a positive  cross over of moving averages  as well as of the indicators therefore  it can be buy abpve 1540with a stop loss of 1500and target  of 1580.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
Jswsteel 700 CE BUY 17 CMP 14 25 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
BSOFT.Mar 31 470 5.8 27.49 3677700 ZEEL.Mar 31 248.6 -3.44 2.55 74478000
GNFC.Mar 31 788.1 3.55 22.43 3562000 ABBOTINDIA.Mar 31 16740.55 -3.35 1.03 31900
INDHOTEL.Mar 31 209.25 1.43 17.42 20548398 GODREJCP.Mar 31 701.75 -3.08 4.72 9858000
ITC.Mar 31 250.2 2 10.8 1.14E+08 DIXON.Mar 31 4338.7 -2.97 17.43 524750
ONGC.Mar 31 175.75 1.91 9.82 35042700 HINDUNILVR.Mar 31 2000 -2.87 7.21 13191000
                                                                        Short Covering                                                                       Long Unwinding
VEDL.Mar 31 405.65 1.03 -0.09 61566000 GRASIM.Mar 31 1573.5 -3.24 -0.04 10340750
IEX.Mar 31 223.15 0.56 -0.29 32767500 BALKRISIND.Mar 31 2068 -3.14 -0.1 1222400
MARUTI.Mar 31 7786.05 0.68 -1.79 2534000 CHOLAFIN.Mar 31 700.3 -2.79 -0.78 8607500
MOTHERSUMI.Mar 31 136.9 2.55 -2.55 32497500 IBULHSGFIN.Mar 31 157.2 -2.69 -1.85 32481800
BERGEPAINT.Mar 31 700.5 0.6 -0.42 3688300 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
Escorts India Ltd. 1840.65 -0.35 887701 0 72.26 Nifty50 17315.5 1.16 92169
Bharti Airtel Limited 719.25 1.56 3000133 0 69.1 Niftybank 36348.55 0.92 92169
Colgate Palmolive (india 1505.1 -1.06 416218 0 67.9 Nifty it 36070.45 1.96 92169
Abb Limited 2077.15 -0.68 96849 0 66.83 India Vix 24.07 -2.23 92169
Hdfc Bank Ltd. 1494.15 0.51 5230907 0 66.22 Nifty Energy 25359.5 1.7 92169
Infosys Limited 1887.4 1.85 5709382 0 66.07 Nifty Fmcg 35887.05 -0.73 92169
Mah & Mah Ltd. 785.6 0.27 5436875 0 65.82 Nifty Mnc 17949.65 -0.65 92169
Marico Limited 492.1 -2.43 1143012 0 64.48 Nifty Pharma 13513.15 -0.27 92169
Hdfc Ltd. 2402.75 0.45 6357856 0 64.48 Nifty Pse 4064.75 0.83 92169
Hdfc Asset Management Co 2160.35 0.35 277448 0 63.91 Nifty Services Sector 24037.1 1.15 92169
Oracle Fin Serv Soft Ltd 3545.3 -0.23 49645 0 67.52 Nifty Realty 443.1 -1.01 92169

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

  • Zomato Ltd is facing a backlash on social media for its plans to roll out a 10-minute food service that critics say raises road-safety risks for delivery riders. CEO Deepinder Goyal said in a post late on Monday the service “Zomato Instant” would rely on a densely located network of so-called food “finishing stations”, which will house bestseller items from restaurants and use a sophisticated demand prediction algorithm.
  • Indoco Remedies Ltd on Tuesday said it has received final approval from the US health regulator for its generic Lacosamide tablet indicated for prevention and control of seizures. The approval granted by the US Food & Drug Administration (USFDA) for Lacosamide tablets is for strengths of 50 mg, 100 mg, 150 mg and 200 mg. These are the generic version of Vimpat Tablets of UCB Inc, the company said in a regulatory filing.
  • The Rs 18,000-crore share buyback programme of Tata Consultancy Services, India’s second-most valuable firm, has drawn a large number of shareholders. On Tuesday, 220 million shares were tendered, 5.5 times the company intends to repurchase. The Tata group flagship firm will buy back 40 million shares, or 1.08 per cent of its equity. The buyback is being done at Rs 4,500 per share—over 21 per cent premium to current market price. Shares of TCS last closed at Rs 3,701.
  • Jubilant Food Works on Tuesday said it will acquire the remaining 10 per cent share in its joint venture Jubilant Golden Harvest from Golden Harvest. After this, Jubilant Food Works (JFL) would have Golden Harvest’s 49 per cent stake in the JV, making JGHL, which offers domino’s pizza in Bangladesh, a wholly-owned subsidiary.

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

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
BCONCEPTS Employees Stock Option Plan;General 23-Mar-22 GICRE General 24-Mar-22
CREDITACC General 23-Mar-22 IFL Issue Of Warrants;General;Pref. Issue 24-Mar-22
FLUOROCHEM Interim Dividend 23-Mar-22 KOHINOOR General 24-Mar-22
IIFL General 23-Mar-22 LT General 24-Mar-22
MACH General 23-Mar-22 MARG Quarterly Results 24-Mar-22
MDRNSTL Quarterly Results 23-Mar-22 METALFORGE Quarterly Results 24-Mar-22
MMTC Quarterly Results 23-Mar-22 OCEANIC Quarterly Results 24-Mar-22
NIVAKA General 23-Mar-22 RAJTV Increase in Authorised Capital;General 24-Mar-22
PUNJCOMMU General 23-Mar-22 SHANKARA Increase in Auth. Capital;Issue Of Warrants 24-Mar-22
UNITECH Quarterly Results 23-Mar-22 WEBELSOLAR General 24-Mar-22
VANICOM General 23-Mar-22 HPAL General 25-Mar-22
BIRLACAP Quarterly Results 24-Mar-22 ISTRNETWK Issue Of Warrants;General 25-Mar-22
CHLOGIST General 24-Mar-22 JSTL General 25-Mar-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
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.
DJML 24-Mar-22 Bonus issue 1:1 TIJARIA 25-Mar-22 E.G.M.
NDL 24-Mar-22 Bonus issue 2:1 TVSMOTOR 25-Mar-22 Interim Dividend – Rs. – 3.7500
RITES 24-Mar-22 Interim Dividend – Rs. – 7.5000 GOLDIAM 28-Mar-22 Stock  Split From Rs.10/- to Rs.2/-
RVNL 24-Mar-22 Interim Dividend – Rs. – 1.5800 SAIL 28-Mar-22 Interim Dividend – Rs. – 2.5000
VTL 24-Mar-22 Stock  Split From Rs.10/- to Rs.2/- ARCFIN 29-Mar-22 Stock  Split From Rs.10/- to Rs.1/-

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