Morning-Outlook-Feature-Image

Outlook

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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