NIFTY:
Nifty opened at 17181.85 with a gap up of just 28 points. The index continued its bearish momentum from the last week and moved down to record its intraday low at 17003.90. Prices found strong support there and formed a narrow trading range. That range soon broke on the upside and prices have rallied higher to record its intraday high at 17235.10. The index again went into a process of consolidation towards the end of today’s trading session and finally closed at 17222 near its intraday highs with a gain of 69 points or 0.40% up. The PHARMA and IT have underperformed today and closed with a loss of less than half percent. BANK and METAL have outperformed today and closed with a gain of nearly 1%.
A trading range inside 17000 17500 remained intact and today’s fall found strong support around 17000 and bounced up. The short term trend is up and it will remain up as far as prices are trading above 17000. We are suggesting the same trade for tomorrow as well. Look for a shorting opportunity on a breakdown below 17000 support or look for a buying opportunity on a breakout above 17300. For both cases, place a stop of 110 points and a target of 280 points. Take both trades if the first one gets stopped out.
BANK NIFTY:
BANK Nifty opened at 35488.70 without much of a gap. The index first moved down, recorded its intraday low at 35016.30 and then went into a narrow trading range. Prices then broke out and rallied higher to record its intraday high at 35770.80. The index again consolidated towards the end of todays trading session and finally closed at 35749.25 with a gain of 213 points. PSU and PVT BANKS both indices have performed well today, saw an upside move and closes with a gain of 1.22% & 0.70% respectively.
A trading range inside 35500 36500 remained intact and prices are now trading at the support levels. Tomorrow, we should look for a buying opportunity on a breakout above 35800 with a stop of 300 points and a target of 800 points from your entry price.
TECHNICAL PICKS
| COMPANY NAME | CMP | B/S | RATIONALE+ |
| BHARTIARTL | 733 | 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 725 and for the target of 748. |
| IGL | 366 | 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 365 with a stop loss of 370 and target of 360. |
DERIVATIVE PICKS
| Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| TITAN | 2580 CE | BUY | 16 | CMP | 10 | 30 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| COLPAL.Mar 31 | 1517.85 | -0.02 | -4.73 | 1932000 | MFSL.Mar 31 | 706.5 | -3.88 | 21.99 | 2314650 | |
| BRITANNIA.Mar 31 | 3098.5 | -0.05 | -0.64 | 1572000 | BHEL.Mar 31 | 50 | -3.47 | 7.84 | 80136000 | |
| BOSCHLTD.Mar 31 | 14035.05 | -0.19 | -3.54 | 160800 | NAUKRI.Mar 31 | 4403.55 | -2.37 | 14.98 | 1582125 | |
| IRCTC.Mar 31 | 766.4 | -0.27 | -1.54 | 9345000 | SBILIFE.Mar 31 | 1069.5 | -2.36 | 6.75 | 6947250 | |
| M&MFIN.Mar 31 | 158.4 | -0.28 | -18.39 | 22240000 | GLENMARK.Mar 31 | 447.45 | -2.31 | 2.12 | 6690700 | |
| Short Covering | Long Unwinding | |||||||||
| GODREJPROP.Mar 31 | 1627.55 | 0.02 | -2.31 | 3798925 | CONCOR.Mar 31 | 660.5 | -4.39 | -2 | 4900800 | |
| HEROMOTOCO.Mar 31 | 2386.4 | 0.04 | -3.33 | 2468400 | POLYCAB.Mar 31 | 2360.9 | -3.87 | -8.64 | 418800 | |
| INTELLECT.Mar 31 | 862.85 | 0.12 | -14.6 | 780750 | FSL.Mar 31 | 127.7 | -3.29 | -1.71 | 10756200 | |
| TATAMOTORS.Mar 31 | 434.15 | 0.12 | -1.82 | 56954400 | NBCC.Mar 31 | 37.05 | -3.26 | -5.77 | 18408000 | |
| MANAPPURAM.Mar 31 | 114.7 | 0.13 | -5.01 | 19971000 | IDFCFIRSTB.Mar 31 | 38.65 | -3.13 | -3.01 | 1.57E+08 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Escorts India Ltd. | 1698.75 | -5.56 | 825891 | 0 | 12.75 | Nifty50 | 17222 | 0.4 | 77961 | |
| Container Corp Of India | 659.95 | -4.33 | 3716271 | 0 | 12.71 | Niftybank | 35710.5 | 0.85 | 77961 | |
| Max Financial Services l | 703.05 | -3.97 | 995173 | 0 | 41.35 | Nifty it | 36026.05 | -0.35 | 77961 | |
| Polycab India Limited | 2352.15 | -3.87 | 303521 | 0 | 20.17 | India Vix | 22.61 | -3.5 | 77961 | |
| Firstsource Solutions Li | 127.3 | -3.56 | 4064441 | 0 | 30.42 | Nifty Fmcg | 35659.45 | 0.38 | 77958 | |
| Nbcc (india) Limited | 36.9 | -3.53 | 6962297 | 0 | 45.64 | Nifty Pharma | 13562.25 | -0.33 | 77958 | |
| Bharat Heavy Elect Ltd. | 49.85 | -3.48 | 28281264 | 0 | 18.61 | Nifty Realty | 451 | 0.41 | 77958 | |
| Idfc First Bank Limited | 38.45 | -3.39 | 63705552 | 0 | 47.83 | Nifty Auto | 10421.6 | 0.65 | 77964 | |
| Steel Authority Of India | 99.85 | -3.15 | 28885917 | 0 | 40.7 | Nifty Metal | 6559.4 | 0.91 | 77964 | |
| Lalpathlab | 2564.65 | -2.73 | 214638 | 0 | 41.28 | Nifty Media | 2336.45 | 0.59 | 77964 | |
| Amara Raja Batt Ltd | 541.8 | -2.61 | 876632 | 0 | 39.22 | Nifty Financial Services | 16667.95 | 0.31 | 77964 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: Federal Fiscal Deficit (Feb) on 31th March, 2022
INR: Infrastructure Output (YoY) (Feb) on 31st Match, 2022 |
•USD: JOLTs Job Openings (Feb) on 29th March, 2022
•USD: CB Consumer Confidence (Mar) on 29th March, 2022 |
NEWS UPDATES
- India has no plans to pay in rupees for the Russian oil its public sector companies buy, Parliament was informed on Monday. India buys less than one per cent of its total oil imports from Russia. But western sanctions against Russia for its invasion of Ukraine have given way to talk of a rupee trade for the oil and gas purchases.
- Allaying fears of coal supply shortage, state-owned Coal India on Monday said it is concentrating its efforts to meet the projected demand of the power sector on priority basis. The state-owned coal miner in this fiscal till March 24 has supplied an all-time high of 528 million tonnes (MT) of coal to the country’s power utilities. This is 98.5 per cent of the pro-rated demand of 536 MT projected by the Ministry of Power and the Central Electricity Authority.
- Kalyan Jewellers India Ltd on Monday appointed former CAG Vinod Rai as its Chairman and independent non-executive director. The appointment will be subject to regulatory and shareholders’ approvals, the company said in a stock exchange filing.
- The Adani Group on Monday announced a multi-year, cloud-first partnership with Google Cloud to drive the next phase of digital innovation across its diversified business portfolio. Specifically, the strategic collaboration will tap each organisation’s expertise across best-in-class infrastructure, technology, and industry solutions to modernise the Adani Group’s IT operations at scale, Google Cloud said in a statement.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint.
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| ADVANIHOTR | General | 29-Mar-22 | PNB | General | 29-Mar-22 |
| AML | General | 29-Mar-22 | PSB | General | 29-Mar-22 |
| ANG | General | 29-Mar-22 | RISHIROOP | General | 29-Mar-22 |
| ATAM | In. in Auth. Cap.;Pref. Issue ;Warrants | 29-Mar-22 | SUPREME | Issue Of Warrants | 29-Mar-22 |
| CANFINHOME | General | 29-Mar-22 | SURINDL | General | 29-Mar-22 |
| COASTCORP | Right Issue of Equity Shares;General | 29-Mar-22 | SURJIND | General | 29-Mar-22 |
| DWARKESH | Interim Dividend | 29-Mar-22 | TATACONSUM | Preferential Issue of shares | 29-Mar-22 |
| EDELWEISS | Interim Dividend | 29-Mar-22 | VIDLI | General | 29-Mar-22 |
| FILATEX | Buy Back of Shares | 29-Mar-22 | 3MINDIA | General | 30-Mar-22 |
| HITTCO | General | 29-Mar-22 | INANI | General | 30-Mar-22 |
| IDBI | General | 29-Mar-22 | JINDCAP | General | 30-Mar-22 |
| KATRSPG | General | 29-Mar-22 | KREONFIN | General | 30-Mar-22 |
| ONEGLOBAL | General | 29-Mar-22 | LELAVOIR | General | 30-Mar-22 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| ARCFIN | 29-Mar-22 | Stock Split From Rs.10/- to Rs.1/- | CRISIL | 30-Mar-22 | Final Dividend – Rs. – 15.0000 |
| BEML | 29-Mar-22 | Interim Dividend – Rs. – 5.0000 | CRISIL | 30-Mar-22 | Special Dividend – Rs. – 7.0000 |
| GIANLIFE | 29-Mar-22 | Bonus issue 6:5 | DHAMPURSUG | 30-Mar-22 | Interim Dividend – Rs. – 6.0000 |
| HUDCO | 29-Mar-22 | Interim Dividend – Rs. – 0.7500 | GILADAFINS | 30-Mar-22 | Bonus issue 1:1 |
| SBILIFE | 29-Mar-22 | Interim Dividend – Rs. – 2.0000 | GILADAFINS | 30-Mar-22 | Stock Split From Rs.10/- to Rs.5/- |
| SUNCLAYLTD | 29-Mar-22 | Interim Dividend – Rs. – 44.0000 | NEPTEXP | 30-Mar-22 | Amalgamation |
| 7NR | 30-Mar-22 | Stock Split From Rs.10/- to Rs.1/- | NGIL | 30-Mar-22 | Right Issue of Equity Shares |
| AMBUJACEM | 30-Mar-22 | Final Dividend – Rs. – 6.3000 | NORTHPR | 30-Mar-22 | Amalgamation |
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