Morning-Outlook-Feature-Image
Outlook

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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