NIFTY:
Nifty opened at 15747.75 with a gap down of 116 points. The index first moved up, filled the gap, and then found resistance around 15900. Prices have started moving down after that and recorded its intraday low at 15671.45. The index then consolidated about one and half hours and eventually broke on the upside. A sharp rally begins then and prices break above the early morning high to record its intraday high at 16028.75. The index finally closed at 16013.45 wit h a gain of 150.30 points or 0.95% up. All the sectoral indices have seen an upside move today and closed higher except the METAL and OILGAS. REALTY, IT, and PHARMA outperformed today and closed wit h impressive gains.
The volatility index ‘INDIA VIX’ has seen a minor decline today but still moving around 28 which is very high. The first sign of low volatile markets will come when the V IX moves below 20.The Russia-Ukraine issue is still going on and it is very unlikely that it will resolve soon. we are in an environment of fear, the chances of a low volatile environment are less at least for this week. Support should emerge around 15500 while strong resistance is visible inside the 16800 – 16900 range. A minor resistance should emerge around 16200. We should step aside and not indulge ourselves in any kind of trading.
BANK NIFTY:
BANK NIFTY opened at 32531.90 wit h a big gap down of 383 points. The index first rallied and almost filled the gap. However, the rally fizzled out quickly and prices moved down to record its intraday low at 32155.35. Prices have consolidated there and then bounced up to record its intraday high at 33263.55. The index finally closed at 33206.90 with a gain of 292 points. PSU BANKS have outperformed today and closed wit h a gai n of 2.57%. PVT BANKS have underperformed today and closed wit h a ga in of 1.13%. Within the index, in terms of points, ICICI BANK contributed the highest while SBIN contributed the lowest. 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 should now emerge around 34000 while support may emerge around 32000. Today’s low was very near to the support level.
TECHNICAL PICKS
| COMPANY NAME | CMP | B/S | RATIONALE+ |
| LTI | 6437 | 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 6380 and for the target of 6600. |
| HINDALCO | 589 | 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 587 with a stop loss of 595 and target of 575. |
DERIVATIVE PICKS
| Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| VOLTAS | 1160 CE | BUY | 32 | CMP | 25 | 50 | OI Increase |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| HAL.Mar 31 | 1328.3 | 0.05 | 5.77 | 2002600 | JKCEMENT.Mar 31 | 2189 | -6.27 | 50.43 | 459900 | |
| POWERGRID.Mar 31 | 213 | 0.05 | 8.26 | 29064850 | NATIONALUM.Mar 31 | 121.85 | -4.28 | 0.53 | 82016500 | |
| BAJAJ-AUTO.Mar 31 | 3220.05 | 0.17 | 13.92 | 1903250 | ONGC.Mar 31 | 176.6 | -3.29 | 14.59 | 29213800 | |
| TITAN.Mar 31 | 2394.55 | 0.21 | 4.51 | 5700375 | SAIL.Mar 31 | 95.05 | -2.46 | 2.92 | 1.58E+08 | |
| AXISBANK.Mar 31 | 671.9 | 0.29 | 7.79 | 49946400 | BALRAMCHIN.Mar 31 | 434.3 | -2.38 | 3.2 | 7320000 | |
| Short Covering | Long Unwinding | |||||||||
| MFSL.Mar 31 | 772.05 | 0.08 | -1.42 | 1444950 | HINDALCO.Mar 31 | 593 | -4.08 | -2.13 | 33414225 | |
| FINNIFTY.Mar 29 | 15540 | 0.69 | -33.67 | 2600 | TATASTEEL.Mar 31 | 1268.75 | -2.09 | -0.5 | 34799425 | |
| KOTAKBANK.Mar 31 | 1727.05 | 0.87 | -0.72 | 14846800 | NAVINFLUOR.Mar 31 | 3502 | -1.58 | -3.32 | 380025 | |
| FSL.Mar 31 | 127.95 | 0.91 | -0.05 | 14536600 | ESCORTS.Mar 31 | 1552.75 | -1.19 | -0.23 | 3640450 | |
| LAURUSLABS.Mar 31 | 536.25 | 1.2 | -4.25 | 5113800 | COALINDIA.Mar 31 | 187.7 | -0.16 | -0.88 | 30332400 | |
TOP DELIVERY PERCENTAGE
| Domestic International | |
| INR: Industrial Production (YoY) (Jan) on 11th March, 2022
INR: Manufacturing Output (MoM) (Jan) on 11th March, 2022 |
•USD: JOLTs Job Openings (Jan) on 9th March, 2022
•USD: Crude Oil Inventories on 9th March, 2022 |
UPCOMING ECONOMIC DATA
- Indian Oil Corp, the country’s top refiner, will seek oil for June arrival via tenders after snapping up 9 million barrels of prompt supplies as it delayed maintenance plans for the Paradip refinery, a source familiar with the matter said. The refiner has deferred a 40-day maintenance shutdown of its 300,000 barrels per day Paradip refinery to August-September from April-May to gain from improved margins for oil products, the source said.
- Close on the heels of the resignation of Amritanshu Khaitan as managing director of the country’s largest dry cell battery maker, Eveready Industries India, Suvomoy Saha, has been selected to don the mantle. In an exchange filing, Eveready has informed that the board at its meeting held on March 8, 2022, approved the appointment of Suvomoy Saha as the managing director of the company for a period of three years effective March 8.
- TCS is planning to revamp the organisation structure to align with customers more closely, as it aims to achieve USD 50 billion (about Rs 3.89 lakh crore) revenue by 2030, a source aware of the development said on Tuesday. The company had garnered USD 25 billion in revenue in 2021. “TCS has now charted its roadmap and long-term strategy to reach the next USD 25 billion revenue. It aims to get to USD 50 billion by the close of the decade,” the source told PTI.
- Hero MotoCorp on Tuesday provided 108 motorbikes to the Himachal Pradesh police here under its corporate social responsibility (CSR) programme. Union Minister for Information and Broadcasting Anurag Thakur, former Chief Minister Prem Kumar Dhumal and Director General of Police Sanjay Kundu were present on the occasion.
Source: Economic Times, Indian Express ,Business Today, Livemint, Business Standard, Bloomberg Quint.
NEWS UPDATES
| Company Name | Purpose | Ex-Date | Company Name | Purpose | Ex-Date |
| AKSHAR | General | 09-Mar-22 | INDINFO | General | 10-Mar-22 |
| BALPHARMA | Amalgamation;General | 09-Mar-22 | INDLEASE | General | 10-Mar-22 |
| BRANDBUCKT | Increase in Authorised Capital | 09-Mar-22 | JINDALSTEL | Interim Dividend | 10-Mar-22 |
| DILIGENT | Stock Split | 09-Mar-22 | KABRADG | General | 10-Mar-22 |
| DWL | General | 09-Mar-22 | MOTOGENFIN | General | 10-Mar-22 |
| HATSUN | General | 09-Mar-22 | PARACABLES | General | 10-Mar-22 |
| MANGIND | General | 09-Mar-22 | RAMSARUP | Audited Results;Quarterly Results | 10-Mar-22 |
| PENIND | Buy Back of Shares;General | 09-Mar-22 | SAMPRE | Right Issue;Preferential Issue | 10-Mar-22 |
| PNBHOUSING | General | 09-Mar-22 | SPANDANA | General | 10-Mar-22 |
| TOYAMIND | General | 09-Mar-22 | WARDINMOBI | General | 10-Mar-22 |
| BCLIL | Interim Dividend | 10-Mar-22 | GAIL | Interim Dividend;General | 11-Mar-22 |
| DSSL | Employees Stock Option Plan | 10-Mar-22 | KESARPE | General | 11-Mar-22 |
| HKG | General | 10-Mar-22 | MIRCH | Increase in Authorised Capital;Pref.l Issue | 11-Mar-22 |
BOARD MEETINGS
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| VEDL | 09-Mar-22 | Interim Dividend – Rs. – 13.0000 | ULTRACAB | 10-Mar-22 | Bonus issue 1:2 |
| 7TEC | 10-Mar-22 | Interim Dividend – Rs. – 1.0000 | ULTRACAB | 10-Mar-22 | Stock Split From Rs.10/- to Rs.2/- |
| ADVIKCA | 10-Mar-22 | Right Issue of Equity Shares | VISHAL | 10-Mar-22 | Bonus issue 2:1 |
| BCLENTERPR | 10-Mar-22 | Stock Split From Rs.10/- to Rs.1/- | SRTRANSFIN | 11-Mar-22 | Interim Dividend – Rs. – 12.0000 |
| BCLENTERPR | 10-Mar-22 | Bonus issue 1:1 | ARIHCAPM | 14-Mar-22 | Interim Dividend – Rs. – 0.7500 |
| EIDPARRY | 10-Mar-22 | Interim Dividend – Rs. – 5.5000 | DICIND | 14-Mar-22 | Final Dividend – Rs. – 3.0000 |
| MUL | 10-Mar-22 | Stock Split From Rs.10/- to Rs.1/- | DICIND | 14-Mar-22 | Special Dividend – Rs. – 2.0000 |
| RAINBOWF | 10-Mar-22 | Right Issue of Equity Shares | INFIBEAM | 14-Mar-22 | Bonus issue 1:1 |
CORPORATE ACTION
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| VEDL | 09-Mar-22 | Interim Dividend – Rs. – 13.0000 | ULTRACAB | 10-Mar-22 | Bonus issue 1:2 |
| 7TEC | 10-Mar-22 | Interim Dividend – Rs. – 1.0000 | ULTRACAB | 10-Mar-22 | Stock Split From Rs.10/- to Rs.2/- |
| ADVIKCA | 10-Mar-22 | Right Issue of Equity Shares | VISHAL | 10-Mar-22 | Bonus issue 2:1 |
| BCLENTERPR | 10-Mar-22 | Stock Split From Rs.10/- to Rs.1/- | SRTRANSFIN | 11-Mar-22 | Interim Dividend – Rs. – 12.0000 |
| BCLENTERPR | 10-Mar-22 | Bonus issue 1:1 | ARIHCAPM | 14-Mar-22 | Interim Dividend – Rs. – 0.7500 |
| EIDPARRY | 10-Mar-22 | Interim Dividend – Rs. – 5.5000 | DICIND | 14-Mar-22 | Final Dividend – Rs. – 3.0000 |
| MUL | 10-Mar-22 | Stock Split From Rs.10/- to Rs.1/- | DICIND | 14-Mar-22 | Special Dividend – Rs. – 2.0000 |
| RAINBOWF | 10-Mar-22 | Right Issue of Equity Shares | INFIBEAM | 14-Mar-22 | Bonus issue 1:1 |
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