Morning Outlook 31st March, 2022

BANK NIFTY:

BANK NIFTY opened at 35241.55 with a ga p up of 264 points. The index first moved down and recorded its intraday low at 36070.55. Prices then bounced up and saw a sharp rally to record its intraday high at 36421.10. Prices then saw a minor correction and then consolidated to finally closed at 36324.35 with a gain of 347 points. PSU and PVT BANKS both indices have performed almost same today and closed with a gain of 1.20% & 1.48% respectively. Within the index, in terms of points, HDFC BANK contributed the highest while SBIN contributed the lowest.

A trading range inside 35500 – 36500 remained intact and prices rallied and closed near the resistance level. The short-term trend is up and it will be down if index closes below 35500. We may see a breakout here soon.

TECHNICAL PICKS

COMPANY NAME	CMP	B/S	RATIONALE+
SRF	2705	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 2680 and for the target of 2750.
HINDPETRO	264	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 263 with a stop loss of 266 and target  of 255.

DERIVATIVE PICKS

Stock Name	Strike Price	Buy/Sell	CMP	Initiation	Stop Loss	Target	Remarks
ICICIBANK	730 CE	BUY	3.3	CMP	1	7	OI Increase

Long Buildup						Short Buildup
Stocks	Price	Price%	OI %	OI		Stocks	Price	Price%	OI %	OI
BSOFT.Mar 31	455.85	-0.09	-11.7	1549600		ONGC.Mar 31	161.85	-5.49	51.72	34311200
ZYDUSLIFE.Mar 31	356.25	-0.11	-16.88	5934500		HINDALCO.Mar 31	601.55	-4.72	3.04	20316425
NMDC.Mar 31	158.85	-0.19	-27.04	16743300		VEDL.Mar 31	399.9	-2.65	7.93	29902600
NTPC.Mar 31	134.15	-0.22	-8.62	21147000		AUROPHARMA.Mar 31	676.8	-2.63	19.04	6265500
DEEPAKNTR.Mar 31	2219.45	-0.35	-5.89	619500		ABFRL.Mar 31	296.65	-2.22	0.71	3699800
Short Covering						Long Unwinding
FSL.Mar 31	127.05	0	-1.73	6955000		JSWSTEEL.Mar 31	721.15	-4.43	-4.79	13647150
NBCC.Mar 31	36.65	0	-5.06	11700000		NATIONALUM.Mar 31	117	-3.51	-30.49	21726000
POLYCAB.Mar 31	2363.15	0.09	-12.39	218400		JINDALSTEL.Mar 31	519	-3.27	-26.3	8430000
ESCORTS.Mar 31	1627	0.16	-17.58	760650		L&TFH.Mar 31	80.45	-2.78	-39.92	9548680
WHIRLPOOL.Mar 31	1577.9	0.16	-25.16	238750		ITC.Mar 31	249.5	-2.31	-8.96	45251200

TOP DELIVERY PERCENTAGE

Stocks	Price	%Chg	Total Qty	Delivery	Del %			% Change
							Sectors	Price	Change %	Quantity
Tech Mahindra Limited	1496.3	-1.71	3792481	0	76.38		Nifty50	17498.25	1	78813
Tata Consultancy Serv Lt	3731.55	0.71	1583455	0	69.78		Niftybank	36334.3	1.36	78813
Larsen & Toubro Limited	1773.6	1.54	1712835	0	68.56		Nifty it	36463.55	0.88	78813
Torrent Pharma Ltd.	2828.35	0.66	130562	0	68.31		India Vix	20.61	-3.24	78813
Hcl Technologies Ltd.	1165.2	-0.21	3073672	0	67.89		Nifty Fmcg	35858.25	0.61	78813
Oracle Fin Serv Soft Ltd	3551.75	1.99	99049	0	67.4		Nifty Pharma	13745.6	-0.19	78813
Bharat Petroleum Ltd	360.05	0.45	4123566	0	66.91		Nifty Realty	462.35	1.53	78813
Godrej Cons Products Ltd	727.8	4.67	2980050	0	64.88		Nifty Auto	10542.15	1.21	78813
Hdfc Asset Management Co	2163.3	3.31	439542	0	64.3		Nifty Metal	6428.95	-2.17	78813
Hdfc Bank Ltd.	1476.95	1.73	10054871	0	63.78		Nifty Media	2360.5	2.28	78813
Nestleind	17298	2.22	74970	0	62.56		Nifty Financial Services	17167.05	1.96	78813

UPCOMING ECONOMIC DATA

Domestic                                                                                                                                                  International
INR: Federal Fiscal Deficit (Feb) on 31th March, 2022 INR: Infrastructure Output (YoY) (Feb) on 31st Match, 2022	•USD:  Initial Jobless Claims on 31st March, 2022

NEWS UPDATES

• Hero MotoCorp has denied the report of the IT Department finding Rs 1,000 crore false expense claims, saying it is speculative. The company said officials from the Income Tax department visited its offices in the previous week, and it has provided all support and cooperation, necessary documents and data to the authorities and will continue to do so if required.

• Axis Bank on Wednesday announced acquisition of Citigroup’s India consumer business in a Rs 12,325-crore deal. Acquisition of 3 million unique customers of Citibank India to enhance Axis Bank’s presence in the key identified growth segments, the Mumbai-headquartered lender said. Axis Bank said its Cards balance sheet will grow by 57% with an additional 2.5 million Citibank cards, making it one of the top 3 Cards businesses in the country.

• In a bonanza for gas producers, Reliance Industries is set to get a record price of around USD 10 per MMBtu for the KG gas. The rate paid for gas produced from fields given to state-owned Oil and Natural Gas Corporation (ONGC) on nomination basis is likely to rise to USD 5.93 per million British thermal units from current USD 2.9.

• Oil And Natural Gas Corporation’s (ONGC’s) offer for sale (OFS) garnered 303 million bids from investors–1.6 times of 188.7 million shares put on the block by the government. The share sale will add over Rs 3,000 crore to the government’s disinvestment kitty. Most of the bids in the OFS came around Rs 160 per share, slightly above the base price of Rs 159 set by the government.

Source: Economic Times,  Indian Express  ,Business Today, Livemint, Business Standard, Bloomberg Quint

BOARD MEETINGS

Company Name	Purpose	Ex-Date	Company Name	Purpose	Ex-Date
ASIACAP	General	31-Mar-22	ASIACAP	General	31-Mar-22
BHARATAGRI	General	31-Mar-22	BHARATAGRI	General	31-Mar-22
BMW	Interim Dividend	31-Mar-22	BMW	Interim Dividend	31-Mar-22
CITYONLINE	General	31-Mar-22	CITYONLINE	General	31-Mar-22
CRESSAN	Issue Of Warrants	31-Mar-22	CRESSAN	Issue Of Warrants	31-Mar-22
CRSTCHM	General	31-Mar-22	CRSTCHM	General	31-Mar-22
EASEMYTRIP	General	31-Mar-22	EASEMYTRIP	General	31-Mar-22
EASTRED	General	31-Mar-22	EASTRED	General	31-Mar-22
GAIL	Buy Back of Shares;General	31-Mar-22	GAIL	Buy Back of Shares;General	31-Mar-22
GIANLIFE	Bonus issue;General	31-Mar-22	GIANLIFE	Bonus issue;General	31-Mar-22
J&KBANK	General	31-Mar-22	KHAITANLTD	General	31-Mar-22
KHAITANLTD	General	31-Mar-22	KINGSINFR	General	31-Mar-22
KINGSINFR	General	31-Mar-22	MARIS	General	31-Mar-22

CORPORATE ACTION

Company Name	Ex-Date	Purpose	Company Name	Ex-Date	Purpose
FLUOROCHEM	31-Mar-22	Interim Dividend – Rs. – 2.0000	EKI	07-Apr-22	Interim Dividend – Rs. – 20.0000
ACC	04-Apr-22	Final Dividend – Rs. – 58.0000	FILATEX	07-Apr-22	Buy Back of Shares
KAMAHOLD	04-Apr-22	Interim Dividend – Rs. – 111.0000	JOHNPHARMA	07-Apr-22	Bonus issue 1:10
NIRMITEE	04-Apr-22	E.G.M.	NARAYANI	07-Apr-22	Resolution Plan -Suspension
WIPRO	05-Apr-22	Interim Dividend – Rs. – 5.0000	VIPULORG	07-Apr-22	Bonus issue 1:4
DISAQ	07-Apr-22	Interim Dividend – Rs. – 150.0000	ANGELONE	08-Apr-22	Interim Dividend
DWARKESH	07-Apr-22	Interim Dividend – Rs. – 2.0000	DATASOFT	08-Apr-22	E.G.M.
EDELWEISS	07-Apr-22	Interim Dividend – Rs. – 0.2500	PCBL	11-Apr-22	Stock  Split From Rs.2/- to Rs.1/-

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