NIFTY:
Nifty opened at 16339.45 with a big gap down of 159 points. Initial prices continued moving lower another 200 points and recorded its intraday low at 16133.80. Prices bounced up from there, saw a sharp rally of more than 300 points, and recorded its intraday high at 16456. The rally fizzled out there and again prices drifted downwards. In the last one and half hours of trading, prices have seen a down move of almost 200 points and finally closed at 16245.35 with a loss of 252.70 points or 1.53% down. All the sectoral indices have seen a down move today and closed lower except the IT that ended with marginal gains. AUTO and METAL have led the bears and ended with a loss of more than 3%.
The index continued recording a wide range day from the last few trading days. The Volatility remained very high as the volatility index ‘INDIA VIX’ is moving around 28. It will be normal when the index moves below 18. The chances of a low volatile environment are less at least for next week also due to the Russia Ukraine issue.” Support is visible around first at 16200, if breach then 15500. Today the index broke down 16200 but ended higher. Strong resistance is visible inside the 16800 16900 range. We should step aside and not indulge ourselves in any kind of trading.
BANK NIFTY:
BANK NIFTY opened at 34526.10 with a big gap down of 440 points. The index further moved down almost 500 points and recorded its intraday low at 34094.10. Prices have bounced up, saw a sharp intraday rally to record its intraday high at 35097.75. However, the index did not sustain long there and again moved down to finally close at 34407.80 with a loss of 536 points. PVT and PSU BANKS have performed almost same today, saw a sharp intraday decline and ended with a loss of 1.66% and 1.59% respectively.
The short term trend is down as the index is making lower high lower lows pattern. We should avoid trading the index and wait markets to stabilize first. Resistance is visible around 36800. Support is visible around 34000.
TECHNICAL PICKS
| COMPANY NAME | CMP | B/S | RATIONALE+ |
| BSOFT | 437 | 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 433 and for the target of 445. |
| EICHERMOTOR | 2339 | 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 2335 with a stop loss of 2360 and target of 2300. |
DERIVATIVE PICKS
| Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| TITAN | 2420 PE | BUY | 78 | CMP | 60 | 120 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| ABB.Mar 31 | 2166.9 | 0 | 5.85 | 339250 | IRCTC.Mar 31 | 726 | -9.38 | 62.84 | 14141750 | |
| UPL.Mar 31 | 716.05 | 0.06 | 1.76 | 26995800 | IDEA.Mar 31 | 10.3 | -7.62 | 2.05 | 8.31E+08 | |
| ABBOTINDIA.Mar 31 | 17430 | 0.1 | 0.81 | 34275 | MCX.Mar 31 | 1265.8 | -6.83 | 5.93 | 1626100 | |
| BRITANNIA.Mar 31 | 3370 | 0.21 | 9.57 | 1859800 | AARTIIND.Mar 31 | 827 | -6.44 | 15.18 | 2650300 | |
| CANFINHOME.Mar 31 | 561.85 | 0.26 | 8.55 | 3427125 | JUBLFOOD.Mar 31 | 2629.2 | -6.36 | 6.6 | 2736250 | |
| Short Covering | Long Unwinding | |||||||||
| PFIZER.Mar 31 | 4335 | 0.24 | -2.11 | 104625 | NATIONALUM.Mar 31 | 123.1 | -4.57 | -1.95 | 87380000 | |
| RECLTD.Mar 31 | 123.75 | 0.61 | -4.84 | 26436000 | ONGC.Mar 31 | 162.7 | -3.64 | -6.35 | 27920200 | |
| MPHASIS.Mar 31 | 3182.25 | 0.85 | -0.2 | 1650425 | GMRINFRA.Mar 31 | 37.2 | -3.38 | -0.26 | 77400000 | |
| DRREDDY.Mar 31 | 3828 | 2.58 | -0.67 | 3306500 | NMDC.Mar 31 | 148.15 | -3.11 | -1.24 | 66008400 | |
| HINDALCO.Mar 31 | 587.15 | -3.08 | -2.02 | 36780050 | ||||||
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Hdfc Ltd. | 2217.5 | -2.44 | 4537842 | 0 | 76.74 | Nifty50 | 16245.35 | -1.53 | 73758 | |
| United Spirits Limited | 825.8 | -5.81 | 2153278 | 0 | 69.21 | Niftybank | 34407.8 | -1.54 | 73758 | |
| Dabur India Ltd. | 539.05 | -4.24 | 2103277 | 0 | 69 | Nifty it | 34177.7 | 0.14 | 73758 | |
| Larsen & Toubro Limited | 1711.75 | -2.31 | 3906731 | 0 | 66.06 | Nifty Metal | 6010.15 | -3.22 | 73758 | |
| Hindustan Unilever Ltd | 2019.5 | -3.42 | 6319982 | 0 | 65.91 | Nifty Media | 1997.1 | -2.87 | 73758 | |
| Infosys Limited | 1723.3 | 0.14 | 9074360 | 0 | 65.03 | India Vix | 27.96 | -0.71 | 73758 | |
| Ultratech Cement Limited | 6050.3 | 1.16 | 1336461 | 0 | 64.88 | Nifty Fmcg | 34627.85 | -1.12 | 73758 | |
| Icici Lombard General In | 1218.3 | -1.79 | 1697979 | 0 | 64.36 | Nifty Auto | 9896.65 | -3.55 | 73758 | |
| Alkem | 3176.6 | -2.25 | 36487 | 0 | 64.2 | Nifty Pharma | 12600.15 | -0.34 | 73758 | |
| Itc Ltd. | 225.5 | 2.78 | 66834381 | 0 | 64.07 | Nifty Realty | 416.45 | -2.93 | 73758 | |
| Nifty Financial Services | 16080.15 | -1.7 | 73758 | |||||||
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: Industrial Production (YoY) (Jan) on 11th March, 2022
INR: Manufacturing Output (MoM) (Jan) on 11th March, 2022 |
•USD: Trade Balance (Jan) on 8th March, 2022
•USD: Crude Oil Inventories on 9th March, 2022 |
NEWS UPDATES
- he fast-moving consumer goods category (FMCG) has recovered in just one month after the third wave of the pandemic compared to the full quarter it took to recover after the second wave in 2021 driven by strong off takes of packaged food products and commodity product (wheat flour, edible oil, grains etc…) sales that have surpassed last year sales numbers.
- India is looking for a electricity-based technology for mass rapid transportation that is cost effective and such as can be made in the country, Union minister Nitin Gadkari has said. The ministry plans to undertake the development of ropeways as an alternate transport solution in the hill and congested, urban areas.
- Even as the Centre is staring at the prospect of the public listing of Life Insurance Corporation of India (LIC) spilling over into the next financial year, the government will go ahead and file the offer documents soon after it receives the market regulator’s approval for the draft red herring prospectus (DRHP), said a senior government official.
- Oil-to-telecom conglomerate Reliance Industries on Friday announced the opening of India’s largest convention centre at Jio World Centre in Mumbai. The convention centre has three exhibition halls spanning over an area of more than 1.61 lakh square feet and two convention halls of 1.07 lakh square feet. The convention centre has “hybrid and digital experiences enabled by 5G network.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint.
BOARD MEETINGS
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| AAVAS | General | 07-Mar-22 | MPL | General | 08-Mar-22 |
| DECIPHER | General | 07-Mar-22 | SHALPAINTS | General | 08-Mar-22 |
| GANESHBE | General | 07-Mar-22 | SHRIRAMCIT | Interim Dividend;General | 08-Mar-22 |
| KCLINFRA | Right Issue of Equity Shares | 07-Mar-22 | AKSHAR | General | 09-Mar-22 |
| METROBRAND | Interim Dividend;General | 07-Mar-22 | BALPHARMA | Amalgamation;General | 09-Mar-22 |
| NLCINDIA | Interim Dividend | 07-Mar-22 | BRANDBUCKT | Increase in Authorised Capital | 09-Mar-22 |
| PRECISION | General | 07-Mar-22 | DILIGENT | Stock Split | 09-Mar-22 |
| RAINBOWF | General;Rights Issue | 07-Mar-22 | DWL | General | 09-Mar-22 |
| SHREEGANES | Bonus issue | 07-Mar-22 | PENIND | Buy Back of Shares;General | 09-Mar-22 |
| SPMLINFRA | Preferential Issue of shares | 07-Mar-22 | TOYAMIND | General | 09-Mar-22 |
| SUNTV | Interim Dividend | 07-Mar-22 | BCLIL | Interim Dividend | 10-Mar-22 |
| TRADWIN | A.G.M.;Audited Results;Quarterly Results | 07-Mar-22 | INDINFO | General | 10-Mar-22 |
| CORALAB | General | 08-Mar-22 | INDLEASE | General | 10-Mar-22 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| 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/- | EIDPARRY | 10-Mar-22 | Interim Dividend – Rs. – 5.5000 |
| DEEP | 08-Mar-22 | Bonus issue 3:4 | MUL | 10-Mar-22 | Stock Split From Rs.10/- to Rs.1/- |
| VIPIND | 08-Mar-22 | Interim Dividend – Rs. – 2.5000 | ULTRACAB | 10-Mar-22 | Stock Split From Rs.10/- to Rs.2/- |
| WOCKPHARMA | 08-Mar-22 | Right Issue of Equity Shares | ULTRACAB | 10-Mar-22 | Bonus issue 1:2 |
| VEDL | 09-Mar-22 | Interim Dividend – Rs. – 13.0000 | VISHAL | 10-Mar-22 | Bonus issue 2:1 |
| 7TEC | 10-Mar-22 | Interim Dividend – Rs. – 1.0000 | SRTRANSFIN | 11-Mar-22 | Interim Dividend |
| BCLENTERPR | 10-Mar-22 | Stock Split From Rs.10/- to Rs.1/- |
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