Morning-Outlook-Feature-Image
Outlook

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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