Nifty opened at 16593.10 with a big gap down of 200 points. Initial prices moved higher and recorded its intraday high at 16678.50 within the first 15 minutes of trading. The index then drifted downwards. A sharp decline of almost 200 points brought prices to its intraday low at 16478.65 and then started a process of consolidation. The index bounced back from 16500,saw a sharp rally in the last hour of trading, and finally closed at 16605.95 near its opening tick wit h a loss of 187.95 points or 1.12% down. METAL continued its outperformance for the second day and ended wit h a gain of 4% followed by MEDIA and OIL GAS which ended wit h a ga in of more than 1%. BANK, FINANCIAL, and AUTO underperformed today and ended with a loss of more than 2%.
A Volatility is very high as the volatility index ‘INDIA VIX’ rose today and is now moving around 30. It will be normal when the index moves below 18.The n chances of a low volatile environment are less at least for this week due to the Russia- Ukraine issue. Support is visible around first at 16200, if breach then 15500. Strong resistance is visible inside the 16800 – 16900 range and the index faces strong resistance there. So we have a range within 16200 – 16800 zones. We are in an environment of fear & uncertainty. In such an environment we should step aside and not indulge ourselves in any kind of trading.
BANK NIFTY opened at 35381.90 with a big gap down of 830 points. The index recorded its intraday high at 35553.70 and moved on the downside. The index added another almost 500 points on the downside and recorded its intraday low at 34897.45 and then finds support there. A rally brought prices near to its opening tick and finally closed at 35474.50 wit h a loss of 737 points. PVT BANKS have underperformed today and closed with a loss of 2.38%. PSU BANKS have also moved down and closed with a loss of 1.06%.
We should avoid trading the index and wait markets to stabilize first. The trend is still on t he downside and it will be down as far as prices are trading below the immediate resistance level around 36800. Support is visible around 34000.
|MUTHOOTFIN||1386||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 1370 and for the target of 1415.|
|NAUKRI||4568||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 4570 with a stop loss of 4500 and target of 4680.|
|Stock Name||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|RELIANCE||2420 CE||BUY||64||CMP||45||90||OI Increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|STAR.Mar 31||321||0.03||1.09||4170600||MARUTI.Mar 31||7837.95||-5.93||17.85||2972700|
|RBLBANK.Mar 31||133.75||0.07||3.36||35545300||CROMPTON.Mar 31||406.7||-5.01||1.66||4107400|
|UBL.Mar 31||1505.15||0.07||8.74||962150||DRREDDY.Mar 31||3870||-5.01||13.29||3243375|
|IDFCFIRSTB.Mar 31||42.2||0.12||2.77||1.37E+08||BANDHANBNK.Mar 31||292.15||-4.76||5.27||23484600|
|WIPRO.Mar 31||558||0.18||3.35||34856000||BAJAJ-AUTO.Mar 31||3367.95||-4.62||8.2||2138500|
|Short Covering||Long Unwinding|
|DELTACORP.Mar 31||263.7||0.02||-0.35||13172100||ALKEM.Mar 31||3264||-0.74||-0.7||256200|
|ADANIENT.Mar 31||1652||0.34||-0.18||20463500||LALPATHLAB.Mar 31||2499||-0.79||-1.32||848625|
|ESCORTS.Mar 31||1795.55||0.35||-2.91||3713050||COFORGE.Mar 31||4497.9||-0.8||-0.45||509800|
TOP DELIVERY PERCENTAGE
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|Dabur India Ltd.||565.25||0.34||1871881||0||74.98||Nifty50||16605.95||-1.12||77778|
|Hdfc Bank Ltd.||1374.25||-3.65||19252780||0||74.01||Niftybank||35372.8||-2.3||77778|
|Hdfc Ltd.||2278.1||-3.65||8890970||0||72.95||Nifty it||33720||-0.38||77778|
|Torrent Pharma Ltd.||2772.15||0.81||110221||0||70.6||Nifty Metal||6136.7||4.07||77781|
|Escorts India Ltd.||1868.55||0.95||2077119||0||68.56||India Vix||29.23||2.31||77778|
|Marico Limited||512.55||-0.42||1985091||0||68.17||Nifty Realty||431.25||-1.18||77781|
|Colgate Palmolive (india||1447.5||-0.2||394137||0||67.64||Nifty Fmcg||35364.45||-0.43||77781|
|Icici Lombard General In||1251.55||-0.97||915621||0||67.38||Nifty Media||2048.2||1.87||77781|
|Hdfc Life Insurance Comp||560.8||7.19||41081069||0||66.47||Nifty Pharma||12689.55||-1.84||77781|
|Hdfc Life Insurance Comp||560.8||7.19||41081069||0||66.47||Nifty Financial Services||16551.9||-2.27||77781|
UPCOMING ECONOMIC DATA
|INR: Nikkei Services PMI (Feb) on 4th March, 2022
INR: FX Reserves, USD on 4th March, 2022
|•USD: Initial Jobless Claims on 3rd March, 2022
•USD: ISM Non-Manufacturing PMI (Feb) on 3rd March, 2022
- The financial services company Religare Enterprises on Wednesday announced the company has become debt-free after repaying Rs 185.5 crore to its subsidiary Religare Finvest. “We are pleased to announce that REL is completely debt free now. As a holding company, REL is providing the necessary growth capital to all its businesses and REL is all set to expand in new BFSI verticals, having synergies with existing businesses,” Rashmi Saluja, Chairperson of the company said in a regulatory filing to the exchanges on Wednesday.
- Since the fight between Ashneer Grover and BharatPe’s board began two months back, the company for the first officially accused the embattled founder’s family and relative of misappropriating funds on Wednesday. “The Grover family and their relatives engaged in extensive misappropriation of company funds, including, but not limited to, creating fake vendors through which they siphoned money away from the company’s account and grossly abused company expense accounts in order to enrich themselves and fund their lavish lifestyles,” said BharatPe.
- Tata Consumer Products is looking to ramp up its workforce by 8-10% this year as it remains bullish about hiring in the next several months. The company, which has 3,300-odd employees on its rolls, will be ramping up talent across functions – including marketing, digital and technology, sourcing and commercial areas in the business, among others.
- The Indian FMCG industry witnessed a consumption slowdown in urban markets and de-growth in rural areas in 2021, as the sector was hit hard by higher inflation levels forcing companies to go for successive price increases, said data analytics firm Nielsen.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint.
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|ARIHCAPM||General;Interim Dividend;Stock Split||03-Mar-22||RITCO||General||03-Mar-22|
|IDEA||General||03-Mar-22||ADVIKCA||General;Right Issue of Equity Shares||04-Mar-22|
|MODULEX||Right Issue of Equity Shares;Rights Issue||03-Mar-22||CONTCHM||General||05-Mar-22|
|PRIMECAPM||General||03-Mar-22||IFL||Issue Of Warrants;InAuth. Cap.;Pref. Issue||05-Mar-22|
|Company Name||Ex-Date||Purpose||Company Name||Ex-Date||Purpose|
|ARSHIYA||03-Mar-22||Spin Off||DEEP||08-Mar-22||Bonus issue 3:4|
|CONTAINER||03-Mar-22||Stock Split From Rs.10/- to Rs.5/-||VIPIND||08-Mar-22||Interim Dividend|
|JAYSHREETEA||07-Mar-22||E.G.M.||BCLENTERPR||10-Mar-22||Bonus issue 1:1|
|NOUVEAU||07-Mar-22||Stock Split From Rs.10/- to Rs.1/-||BCLENTERPR||10-Mar-22||Stock Split From Rs.10/- to Rs.1/-|
Disclosure in pursuance of Section 19 of SEBI (RA) Regulation 2014
Elite Wealth Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only information in making their investment decision and must exercise their own judgment before making any investment decision.
For analyst certification and other important disclosures, see the Disclosure Appendix, or go to www.elitewealth.in. Analysts employed by Elite Wealth Limited are registered/qualified as research analysts with SEBI in India.( SEBI Registration No.: INH100002300)
Analyst Certification (For Reports)
Israil Khan, Elite Wealth Limited, firstname.lastname@example.org
The analyst(s) certify that all of the views expressed in this report accurately reflect my/our personal views about the subject company or companies and its or their securities. I/We also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report. Unless otherwise stated, the individuals listed on the cover page of this report are analysts in Elite Wealth Limited.
As to each individual report referenced herein, the primary research analyst(s) named within the report individually certify, with respect to each security or issuer that the analyst covered in the report, that:
(1) all of the views expressed in the report accurately reflect his or her personal views about any and all of the subject securities or issuers; and
(2) no part of any of the research analyst’s compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed in the report.
For individual analyst certifications, please refer to the disclosure section at the end of the attached individual notes.
This note may include excerpts from previously published research. For access to the full reports, including analyst certification and important disclosures, investment thesis, valuation methodology, and risks to rating and price targets, please visit www.elitewealth.in.
Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting https://www.elitewealth.in, or emailing email@example.com with your request. Elite Wealth Limited may screen companies based on Strategy, Technical, and Quantitative Research. For important disclosures for these companies, please e-mail firstname.lastname@example.org.
Options related research:
If the information contained herein regards options related research, such information is available only to persons who have received the proper option risk disclosure documents. For a copy of the risk disclosure documents, please contact your Broker’s Representative or visit the OCC’s website at https://www.elitewealth.in
All research reports made available to clients are simultaneously available on our client websites. Not all research content is redistributed, e-mailed or made available to third-party aggregators. For all research reports available on a particular stock, please contact your respective broker’s sales person.
Ownership and material conflicts of interest Disclosure
Elite Wealth Limited policy prohibits its analysts, professionals reporting to analysts from owning securities of any company in the analyst’s area of coverage. Analyst compensation: Analysts are salary based permanent employees of Elite Wealth Limited. Analyst as officer or director: Elite Wealth Limited policy prohibits its analysts, persons reporting to analysts from serving as an officer, director, board member or employee of any company in the analyst’s area of coverage.
Country Specific Disclosures
India – For private circulation only, not for sale.
Legal Entities Disclosures
Mr. Ravinder Parkash Seth is the Managing Director of Elite Wealth Ltd (EWL, henceforth), having its registered office at Casa Picasso, Golf Course Extension, Near Rajesh Pilot Chowk, Radha Swami, Sector-61, Gurgaon-122001 Haryana, is a SEBI registered Research Analyst and is regulated by Securities and Exchange Board of India. Telephone:011-43035555, Facsimile: 011-22795783 and Website: www.elitewealth.in
EWL discloses all material information about itself including its business activity, disciplinary history, the terms and conditions on which it offers research report, details of associates and such other information as is necessary to take an investment decision, including the following:
a) EWL or his associate or his relative has no financial interest in the subject company and the nature of such financial interest;
(b) EWL or its associates or relatives, have no actual/beneficial ownership of one per cent. or more in the securities of the subject company, at the end of the month immediately preceding the date of publication of the research report or date of the public appearance;
(c) EWL or its associate or his relative, has no other material conflict of interest at the time of publication of the research report or at the time of public appearance;
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) EWL or its associates have not managed or co-managed public offering of securities for the subject company in the past twelve months;
(c) EWL or its associates have not received any compensation for investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(d) EWL or its associates have not received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(e) EWL or its associates have not received any compensation or other benefits from the Subject Company or third party in connection with the research report.
3 In respect of Public Appearances
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) The subject company is not now or never a client during twelve months preceding the date of distribution of the research report and the types of services provided by EWL