NIFTY:
Nifty opened at 17094.95 with a gap down of 151 points. The index recorded its intraday low at the opening tick and started moving on the upside. A rally first fills the gap and then moved further higher to record its intraday high at 17291.75. Prices found strong resistance there and saw a sharp dip of almost 150 points but remained above the opening tick. The index then consolidated about three hours and finally closed at 17222.75 almost at the middle of today’s range with a loss of just 22.90 points or 0.13% down. The BANK & FINANCIAL have underperformed today and closed lower by more than 1.50%. MEDIA outperformed by closing 5.91% higher. METAL, PHARMA, IT, and OIL GAS also did well today and ended more than 1% higher.
Yesterday, we have mentioned a strong support zone inside the 17000 – 17100 range. Today prices have respected this zone and remained above after opening a few ticks below 17100. Strong resistance is visible inside the 17400 – 17500 range. For the last five trading days, the index is moving within these support and resistance levels and respecting the boundaries as well. So, our focus should be on an intraday basis only as far as this range is intact. Our approach should be buying on a dip towards 17000 if finds support and selling on a rally towards 17500 if finds resistance.
BANK NIFTY:
BANK NIFTY opened at 35633.70 with a ga p down of 569 points. The index first consolidated and then moved up to fill the gap. The rally fizzled out after recording its intraday high at 35957.70 and then saw a sharp intraday decline of more than 500 points to record its intraday low at 35421.70. The index then consolidates towards the end of today’s trading session and finally closed at 35526.85 with a loss of 558 points. PVT BANKS have underperformed today and closed lower by 1.79%. PSU BANKS have also seen a decline today and closed with a loss of 0.445%. The short-term trend is still on the upside and current decline should be looked as a correction of a rally from 32100 to 36800. Support is visible around 35000. A close below this support will change the short-term trend to sideways.
TECHNICAL PICKS
| COMPANY NAME |
CMP |
B/S |
RATIONALE+ |
| LTI |
6177 |
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 6100 and for the target of 6380. |
| TITAN |
2618 |
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 2615 with a stop loss of 2640 and target of 2540. |
DERIVATIVE PICKS
| Stock Name |
Strike Price |
Buy/Sell |
CMP |
Initiation |
Stop Loss |
Target |
Remarks |
| RELIANCE |
2600 CE |
BUY |
27 |
CMP |
15 |
55 |
OI Increase |
| Long Buildup |
|
Short Buildup |
| Stocks |
Price |
Price% |
OI % |
OI |
|
Stocks |
Price |
Price% |
OI % |
OI |
| LT.Mar 31 |
1772.5 |
0.03 |
0.15 |
12050275 |
|
L&TFH.Mar 31 |
78.75 |
-6.25 |
4.59 |
54721968 |
| MCDOWELL-N.Mar 31 |
907.85 |
0.08 |
1.58 |
12125000 |
|
HINDPETRO.Mar 31 |
274.7 |
-3.82 |
4.89 |
13610700 |
| DABUR.Mar 31 |
525.2 |
0.13 |
0.09 |
11983750 |
|
MFSL.Mar 31 |
746.95 |
-3.33 |
6.67 |
2046850 |
| WIPRO.Mar 31 |
612 |
0.17 |
3.22 |
25016800 |
|
CROMPTON.Mar 31 |
377.1 |
-2.81 |
2.09 |
4456100 |
| BHEL.Mar 31 |
51.4 |
0.19 |
1.6 |
89376000 |
|
KOTAKBANK.Mar 31 |
1721.25 |
-2.72 |
24.53 |
15238800 |
| Short Covering |
|
Long Unwinding |
|
|
|
|
|
|
|
|
|
|
|
| HAVELLS.Mar 31 |
1143 |
0.01 |
-1.43 |
4506500 |
|
SYNGENE.Mar 31 |
590.2 |
-2.66 |
-0.75 |
901000 |
| HONAUT.Mar 31 |
38892.95 |
0.07 |
-5.89 |
8145 |
|
BANDHANBNK.Mar 31 |
298.2 |
-1.92 |
-1.52 |
26181000 |
| POWERGRID.Mar 31 |
210.8 |
0.12 |
-1.69 |
31592692 |
|
JUBLFOOD.Mar 31 |
2611.95 |
-1.65 |
-0.37 |
2346500 |
| UPL.Mar 31 |
798.2 |
0.28 |
-0.52 |
18973500 |
|
RECLTD.Mar 31 |
125.45 |
-1.03 |
-0.27 |
24558000 |
| AUBANK.Mar 31 |
1244 |
0.35 |
-0.24 |
2063500 |
|
BPCL.Mar 31 |
363.3 |
-1.01 |
-0.1 |
17424000 |
TOP DELIVERY PERCENTAGE
| Stocks |
Price |
%Chg |
Total Qty |
Delivery |
Del % |
|
|
% Change |
|
|
|
|
|
|
|
Sectors |
Price |
Change % |
Quantity |
| Hdfc Bank Ltd. |
1442.65 |
-2.47 |
10080022 |
0 |
80.91 |
|
Nifty50 |
17222.75 |
-0.13 |
79215 |
| Godrej Cons Products Ltd |
695 |
0.09 |
2017206 |
0 |
70.57 |
|
Niftybank |
35527.1 |
-1.72 |
79218 |
| Coromandel International |
808.85 |
-1.67 |
440707 |
0 |
70.07 |
|
Nifty it |
36516.75 |
1.2 |
79218 |
| Marico Limited |
482.4 |
-0.45 |
2941035 |
0 |
69.83 |
|
India Vix |
23.93 |
-3.31 |
79215 |
| United Breweries Limited |
1454 |
1.18 |
259931 |
0 |
64.84 |
|
Nifty Fmcg |
35797.15 |
0.02 |
79218 |
| Escorts India Ltd. |
1858.1 |
0.09 |
493126 |
0 |
64.84 |
|
Nifty Pharma |
13724.5 |
1.14 |
79218 |
| Power Grid Corporation o |
210.75 |
0.31 |
8391719 |
0 |
64.73 |
|
Nifty Realty |
443.75 |
0.5 |
79218 |
| Crompton Greaves Consume |
378.25 |
-2.2 |
2043527 |
0 |
64.67 |
|
Nifty Auto |
10412.4 |
-0.49 |
79218 |
| Infosys Limited |
1886.7 |
0.76 |
3784303 |
0 |
64.49 |
|
Nifty Metal |
6498.2 |
1.54 |
79218 |
| Icici Lombard General In |
1244.15 |
-0.67 |
532228 |
0 |
64.2 |
|
Nifty Media |
2321.75 |
5.91 |
79218 |
| Dabur India Ltd. |
523.75 |
0.17 |
2528645 |
0 |
64.12 |
|
Nifty Financial Services |
16672 |
-1.56 |
79218 |
UPCOMING ECONOMIC DATA
| Domestic International |
| INR: FX Reserves, USD on 25th March, 2022
INR: Banks Loan and Deposit Growth on 25th Match, 2022 |
•USD: Retail Inventories Ex Auto (Feb) on 28th March, 2022 |
NEWS UPDATES
- JK Tyre & Industries on Thursday said it has come up with the country’s first puncture guard technology in tyres for four-wheelers. The technology, with specially engineered self-healing elastomer inner coat, applied inside the tyres through an automated process, heals the punctures. The company plans to build in the technology in its range of tyres for four-wheelers. With this technology, tyres can self-repair multiple punctures, due to nails or other sharp objects, up to 6 mm in the tread area instantly, the tyre maker said in a statement.
- India’s top fuel retailers IOC, BPCL and HPCL have together lost around USD 2.25 billion (Rs 19,000 crore) in revenue between November and March by keeping petrol and diesel prices unchanged despite a sharp rise in crude oil prices, Moody’s Investors Service said on Thursday.
- The government Thursday said Adani Enterprises Limited and L&T are part of two consortia led by State-run enterprises that have evinced interest in building the Polar Satellite Launch Vehicle (PSLV), the ISRO’s warhorse rocket to put satellites in orbit. In a bid to encourage private sector participation in the space sector, New Space India Limited (NSIL), a company under the Department of Space, had invited proposals from the Indian industry to build five PSLVs.
- The combined annual turnover of Patanjali Ayurved group and its subsidiary Ruchi Soya is around Rs 35,000 crore and the target is to become India’s number one food, FMCG and agriculture company in the next five years, Baba Ramdev said at a press conference on Thursday.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint.
BOARD MEETINGS
| Company Name |
Purpose |
Ex-Date |
Company Name |
Purpose |
Ex-Date |
| APOLLO |
General |
25-Mar-22 |
WIPRO |
Interim Dividend |
25-Mar-22 |
| ASRL |
General |
25-Mar-22 |
AFEL |
General |
26-Mar-22 |
| HPAL |
General |
25-Mar-22 |
AINFRA |
Preferential Issue of shares |
26-Mar-22 |
| ISTRNETWK |
Issue Of Warrants;General |
25-Mar-22 |
CANOPYFIN |
Amalgamation;General |
26-Mar-22 |
| JINDHOT |
General |
25-Mar-22 |
CEINSYSTECH |
ESOP;Increase in Authorised Capital;General |
26-Mar-22 |
| JSTL |
General |
25-Mar-22 |
COMSYN |
General |
26-Mar-22 |
| JYOTISTRUC |
Increase in Authorised Capital;Results |
25-Mar-22 |
EMERALD |
General |
26-Mar-22 |
| MIC |
General |
25-Mar-22 |
EUROTEXIND |
General |
26-Mar-22 |
| NGIL |
Right Issue of Equity Shares;General |
25-Mar-22 |
FLOMIC |
General |
26-Mar-22 |
| POLYSPIN |
General |
25-Mar-22 |
MANAPPURAM |
General |
26-Mar-22 |
| PUNJCOMMU |
General |
25-Mar-22 |
MUZALI |
General |
26-Mar-22 |
| SAGCEM |
Preferential Issue of shares |
25-Mar-22 |
PURITY |
General |
26-Mar-22 |
| TRANSCOR |
General |
25-Mar-22 |
RSYSTEMINT |
General |
26-Mar-22 |
CORPORATE ACTION
| Company Name |
Ex-Date |
Purpose |
Company Name |
Ex-Date |
Purpose |
| CENTEXT |
25-Mar-22 |
E.G.M. |
BEML |
29-Mar-22 |
Interim Dividend – Rs. – 5.0000 |
| DATAINFRA |
25-Mar-22 |
Income Distribution (InvIT) |
GIANLIFE |
29-Mar-22 |
Bonus issue 6:5 |
| DILIGENT |
25-Mar-22 |
E.G.M. |
HUDCO |
29-Mar-22 |
Interim Dividend – Rs. – 0.7500 |
| TIJARIA |
25-Mar-22 |
E.G.M. |
NEPTEXP |
29-Mar-22 |
Amalgamation |
| TVSMOTOR |
25-Mar-22 |
Interim Dividend – Rs. – 3.7500 |
NORTHPR |
29-Mar-22 |
Amalgamation |
| GOLDIAM |
28-Mar-22 |
Stock Split From Rs.10/- to Rs.2/- |
SBILIFE |
29-Mar-22 |
Interim Dividend – Rs. – 2.0000 |
| SAIL |
28-Mar-22 |
Interim Dividend – Rs. – 2.5000 |
SUNCLAYLTD |
29-Mar-22 |
Interim Dividend – Rs. – 44.0000 |
| ARCFIN |
29-Mar-22 |
Stock Split From Rs.10/- to Rs.1/- |
TEATIME |
29-Mar-22 |
Amalgamation |
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