NIFTY:
Nifty opened at 16515.65 with a big gap up of 268 points on the back of a rally in global equity indices. The index recorded its intraday low at 16478.30 within the first five minutes of trading. Prices then started moving upwards. The rally continued till afternoon and prices have bounced up more than 200 points to record its intraday high at 16748.80. The index faces strong resistance there. Prices have moved volatile and sideways in the latter half within a narrow range and finally closed at 16658.40 with a gain of 410.45 points or 2.53% up. All the sectoral indices have seen an upside move today and closed higher. METAL,REAL1Y outperformed by closing more than 5% higher. BANK, FINANCIAL, and PHARMA followed by closing more than 3% higher.
A Volatility is very high as the volatility index ‘INDIA VIX’ is moving above 25. However, it has seen a sharp decline as it was moving above 30 yesterday. It will be normal when the index moves below 18. Support is visible around first at 16200, if breach then 15500. As we have mentioned yesterday, “We are in an environment of fear. In such an environment we should step aside and not indulge ourselves in any kind of trading:
BANK NIFTY:
BANK NIFTY opened at 35901.70 with a big gap up of 806 points. The index recorded its intraday low at 35768.20 within the first five minute of trading and then continued moving higher. A sharp rally brought prices to its intraday high at 36684.65 and then faces strong resistance there. The index built a narrow trading range there and finally closed at 36485.40 with a gain of 1390 points. PSU and PVT BANKS both indices have seen sharp intraday rally today and closed higher by 4.69% and 3.75% respectively. Within the index, in terms of points, ICICI BANK contributed the highest on the upside followed by HDFC BANK.
The trend is still on the downside and it will be down as far as prices are trading below the immediate resistance level around 36800. Support is visible around 34000. We should avoid trading the index and wait markets to stabilize first.
TECHNICAL PICKS
| COMPANY NAME | CMP | B/S | RATIONALE+ |
| COFORGE | 4501 | 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 4450 and for the target of 4600. |
| DMART | 4190 | 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 above 4200 with a stop loss of 4140 and target of 4300. |
DERIVATIVE PICKS
| Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| TITAN | 2500CE | BUY | 69.50 | CMP | 55 | 90 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| HINDUNILVR.Mar 31 | 2175.1 | 0.16 | 2459.22 | 10372500 | INDIAMART.Mar 31 | 4317.75 | -9.58 | 955.2 | 319725 | |
| EICHERMOT.Mar 31 | 2624.2 | 0.27 | 2275 | 2959250 | NAM-INDIA.Mar 31 | 301.5 | -2.44 | 3414 | 2811200 | |
| IOC.Mar 31 | 110.5 | 0.32 | 159.11 | 34846500 | PFC.Mar 31 | 108.9 | -2.24 | 481.71 | 41403600 | |
| COLPAL.Mar 31 | 1399.8 | 0.35 | 354.81 | 1771700 | HINDPETRO.Mar 31 | 268.35 | -1.4 | 155.59 | 10179000 | |
| BPCL.Mar 31 | 333.95 | 0.39 | 411.42 | 22820400 | AMBUJACEM.Mar 31 | 303.9 | -0.8 | 2133.1 | 19126500 | |
| Short Covering | Long Unwinding | |||||||||
| MIDCPNIFTY.Mar 29 | 6949 | 3.72 | -10 | 1350 | ||||||
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Marico Limited | 494.85 | 2.36 | 1460932 | 0 | 71.81 | Nifty 50 | 16658.4 | 2.53 | 83433 | |
| Hindustan Unilever Ltd | 2170.7 | -0.03 | 2193728 | 0 | 71.53 | Nifty Bank | 36430.75 | 3.41 | 83433 | |
| Dabur India Ltd. | 544.85 | 2.09 | 1284779 | 0 | 69.75 | Nifty it | 33476.95 | 2.85 | 83433 | |
| Icici Lombard General In | 1272.3 | 2.53 | 402028 | 0 | 69.17 | Nifty Pharma | 12899.85 | 3.2 | 83436 | |
| Hdfc Ltd. | 2401.35 | 2.49 | 2731176 | 0 | 68.99 | Nifty Auto | 10895.3 | 2.69 | 83436 | |
| Infosys Limited | 1694.6 | 0.98 | 9737281 | 0 | 68.79 | India Vix | 26.74 | -16.39 | 83433 | |
| Hcl Technologies Ltd. | 1129.7 | 2.84 | 3213276 | 0 | 67.08 | Nifty Metal | 5618.7 | 5.74 | 83436 | |
| City Union Bank Ltd. | 124.85 | 1.67 | 2756667 | 0 | 65.4 | Nifty Fmcg | 35292.55 | 1.6 | 83436 | |
| Indus Towers Limited | 214.6 | 4.17 | 20941909 | 0 | 65.35 | Nifty Media | 1997.1 | 4.69 | 83436 | |
| Max Financial Services l | 817.8 | 0.99 | 608971 | 0 | 65.32 | Nifty Financial Services | 17028.9 | 3.01 | 83436 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: Infrastructure Output (YoY) (Jan)on 28th February, 2022
INR: GDP Quarterly (YoY) (Q3) on 28th February, 2022 |
•USD: ISM Manufacturing PMI (Feb) on 1st March, 2022
•USD: API Weekly Crude Oil Stock on 2nd March, 2022 |
NEWS UPDATES
- Indian Oil Corp (IOC) is planning three new plants in the Northeast to increase its LPG bottling capacity by nearly 53 per cent to eight crore cylinders annually by 2030 to meet the growing demand in the region. IOC Executive Director (Indian Oil-AOD) G Ramesh said the proposed new LPG bottling plants will come up in Mizoram, Meghalaya and Arunachal Pradesh at a total investment of Rs 325-350 crore in a combination of wholly-owned and public-private-partnership (PPP) models.
- Hero MotoCorp expects the two-wheeler segment to make a strong comeback next financial year with Omicron wave subsiding and a broader economic recovery in sight, according to a senior company official. The company, which reported sales of 12.92 lakh units in the December quarter, also expects the various announcements made in the Union Budget this year to trigger a cycle not only of employment and income but also capex in the private sector.
- Central Bank of India and Punjab & Sind Bank will get the lion’s share of the Rs 15,000 crore earmarked for capital infusion in state-owned banks for the current fiscal. This will help these public sector banks (PSBs) meet regulatory requirements. The capital infusion of Rs 15,000 crore would go mostly to banks which had got money through non-interest-bearing bonds in the previous year as the RBI had raised some concerns on the fair valuation of these instruments, sources said.
- OPEC+ revised down its forecast for an oil market surplus this year by about 200,000 barrels per day (bpd) to 1.1 million bpd, according to a base scenario in a technical committee report seen by Reuters on Sunday.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint.
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| AAPLUSTRAD | General | 28-Feb-22 | INDSUCR | Quarterly Results | 28-Feb-22 |
| AJRINFRA | Quarterly Results | 28-Feb-22 | KAILASH | General | 28-Feb-22 |
| ASHNI | General | 28-Feb-22 | LESHAIND | General | 28-Feb-22 |
| COLINZ | General | 28-Feb-22 | MANYAVAR | Quarterly Results | 28-Feb-22 |
| EIDPARRY | Interim Dividend | 28-Feb-22 | OBCL | General | 28-Feb-22 |
| GETALONG | General | 28-Feb-22 | PFC | General | 28-Feb-22 |
| GNRL | General | 28-Feb-22 | VIPULORG | Bonus issue;Employees Stock Option Plan | 28-Feb-22 |
| HUHTAMAKI | Audited Results;Final Dividend | 28-Feb-22 | WORL | Bonus issue | 28-Feb-22 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| EASEMYTRIP | 28-Feb-22 | Bonus issue 1:1 | NOUVEAU | 07-Mar-22 | Stock Split From Rs.10/- to Rs.1/- |
| GLITTEKG | 28-Feb-22 | E.G.M. | DEEP | 08-Mar-22 | Bonus issue 3:4 |
| DATAINFRA | 02-Mar-22 | Income Distribution (InvIT) | VIPIND | 08-Mar-22 | Interim Dividend |
| FACORALL | 02-Mar-22 | E.G.M. | VEDL | 09-Mar-22 | Interim Dividend |
| PRISMX | 02-Mar-22 | Right Issue of Equity Shares | VISHAL | 10-Mar-22 | Bonus issue 2:1 |
| TANAA | 02-Mar-22 | Interim Dividend – Rs. – 0.50 | DICIND | 14-Mar-22 | Final Dividend – Rs. – 3.00 |
| ARSHIYA | 03-Mar-22 | Spin Off | DICIND | 14-Mar-22 | Special Dividend – Rs. – 2.00 |
| CONTAINER | 03-Mar-22 | Stock Split From Rs.10/- to Rs.5/- | BCG | 15-Mar-22 | Bonus issue 2:3 |
| PGFOILQ | 03-Mar-22 | E.G.M. | KMSUGAR | 16-Mar-22 | E.G.M. |
| JAYSHREETEA | 07-Mar-22 | E.G.M. | RELTD | 16-Mar-22 | E.G.M. |
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