Morning-Outlook-Feature-Image
Morning-outlook-31stmarch

NIFTY:

Nifty opened at 17468.15 with a big gap up of 143 points. The index first moved down and found support quickly and recorded its intraday low at 17387.20. Prices have bounced up, saw a sharp rally of more than 100 points, and then started a process of consolidation. That consolidation continued for the rest of the day. Prices have recorded its intraday high at 17522.50 and finally closed at 17498.25 near its intraday highs with a gain of 172.95 points or 1% up. The FINANCIAL and MEDIA outperformed today and closed with a gain of nearly 2%. The METAL sector underperformed today and closed with a loss of more than 2%.

A trading range inside 17000 – 17500 remained intact as the index has closed a few ticks below the resistance at 17500. The short-term trend is up and we may see a breakout soon here. The index already has rallied 500 points so if a breakout came t hen it is also possible that we may see a retest of the breakout point. The summary here is, the view is bullish and we should position ourselves on the long side of the markets on any dips or consolidation breakouts.

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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