NIFTY:
The NIFTY opened at 1711180 with a gap up of 126 points. The index could not sustain at the higher levels and started drifting downwards after the opening tick. Prices have recorded its intraday high at 17145.80 in its initial trades, filled the gap quickly, and then started a consolidation process. The index broke down but soon found support again. The NIFTY started moving higher after recording its intraday low at 16958.15 and almost reached the opening tick. The index finally closed at 17100.05 with a gain of 114.45 points or 0.67% up. REALTY and METAL outperformed today and closed with a gain of 3.03% & 2.39% followed by BANK, FINANCIAL & IT. MEDIA PHARMA, AUTO, and FMCG underperformed today and closed with a loss. The short-term trend is down. On the weekly timeframe chart, the NIFTY has recorded a wide range of days and ended the week negatively. The weekly candle made a long lower shadow suggesting a pullback in the coming week. The volatility is now cooling off as the INDIA VIX moved down today and is moving below level 15, supporting the bulls. We are expecting a relief rally or a brief consolidation here. We should look for a trading opportunity on an intraday basis.
BANK NIFTY:
The BANK NIFTY opened at 39442.40 with a gap up of 232 points. The index initially moved lower and filled the gap quickly. Prices moved further on the downside and then found support around 39000. The index recorded its intraday low at 38926.80 and then started moving higher. Prices breaks above early morning highs and recorded its intraday high at 39699.85. The index finally closed at 39688.95 with a gain of 478 points. PVT and PSU BANKS both indices have performed almost the same today, saw an intraday rally, and closed with a gain of 1.13% & 0.83% respectively Within the index, in terms of points, HDFC BANK contributed the highest on the upside while IDFC FIRST BANK contributed the lowest. On the weekly timeframe chart, the index ended this week on a negative note. However, prices have made a long lower shadow suggesting there are buyers on the lower levels and we may see some upside move in the coming week. Support is visible around 38500 while resistance is visible around 40000. The trend is still down and the volatility is also high. We should avoid taking carry-forward trade as far as the index is trading within these two levels and shift our focus to intraday trading only.
TECHNICAL PICKS
| COMPANY NAME | CMP | B/S | RATIONALE |
| CHOLAMANDALAM INVESTMENT | 763.70 | BUY | The stock is about to give a breakout on the intraday and the daily chart. The stock can be bought above 766.25 with a stop loss of 754.80 and a target of 789.20. |
| BALKRISHNA IND | 1962.55 | SELL | The stock has given a breakdown on the intraday as well as the daily chart. The stock can be sold below 1951.45 with a stop loss of 1989.45 and a target of 1878.80. |
DERIVATIVE PICKS
| Stock Name | Strike Price | Buy/Sell | CMP | Initiation | Stop Loss | Target | Remarks |
| ITC | 385 CE | SELL | 2.75 | CMP | 4.40 | 1 | BREAKDOWN |
| Long Buildup | Short Buildup | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| ABCAPITAL.23.03 Mar | 154.7 | 3.65 | 8.84 | 35040600 | BIOCON.23.03 Mar | 207.75 | -6.9 | 18.01 | 41947400 | |
| HAL.23.03 Mar | 2790.55 | 2.79 | 1.23 | 3045600 | M&MFIN.23.03 Mar | 236.75 | -2.67 | 4.62 | 24200000 | |
| GMRINFRA.23.03 Mar | 42.95 | 2.75 | 3.41 | 130185000 | INDIACEM.23.03 Mar | 189.4 | -2.19 | 5.54 | 15039400 | |
| LTIM.23.03 Mar | 4693.65 | 2.54 | 0.93 | 1174950 | LALPATHLAB.23.03 Mar | 1837.45 | -2.13 | 4.25 | 822250 | |
| HDFCLIFE.23.03 Mar | 474 | 2.2 | 0.4 | 23294700 | EICHERMOT.23.03 Mar | 2991.55 | -1.7 | 1.08 | 2988125 | |
| Short Covering | Long Unwinding | |||||||||
| Stocks | Price | Price% | OI % | OI | Stocks | Price | Price% | OI % | OI | |
| DLF.23.03 Mar | 376.5 | 4.01 | -4.51 | 41297850 | PETRONET.23.03 Mar | 234 | -1.85 | -1.91 | 13437000 | |
| INTELLECT.23.03 Mar | 418.45 | 3.73 | -5.49 | 4216000 | INDUSTOWER.23.03 Mar | 151.15 | -1.63 | -3.58 | 26502000 | |
| JINDALSTEL.23.03 Mar | 575.4 | 3.45 | -3.05 | 16832500 | BERGEPAINT.23.03 Mar | 595.45 | -1.59 | -2.31 | 6935500 | |
| HCLTECH.23.03 Mar | 1111.45 | 3.38 | -0.77 | 10805900 | LUPIN.23.03 Mar | 660.75 | -1.22 | -1.84 | 6981900 | |
| SAIL.23.03 Mar | 87.9 | 3.17 | -0.47 | 103552000 | SHREECEM.23.03 Mar | 25172.5 | -1.2 | -4.31 | 341200 | |
TOP DELIVERY PERCENTAGE
| Stocks | Price | %Chg | Total Qty | Delivery | Del % | % Change | ||||
| Sectors | Price | Change % | Quantity | |||||||
| Itc Ltd. | 375.55 | -1.55 | 48904254 | 12278731 | 78.16 | Nifty50 | 17100.05 | 0.67 | 38084343 | |
| Marico Limited | 486.1 | -0.51 | 2448223 | 858545 | 77.72 | Niftybank | 39598.1 | 1.19 | 16465232 | |
| Hero Motocorp Limited | 2355.15 | -0.67 | 628419 | 430004 | 74.45 | Nifty it | 28854.45 | 1.18 | 1980933 | |
| Bharti Airtel Limited | 757.25 | 1.51 | 9306857 | 5510241 | 73.81 | India Vix | 14.77 | -8.94 | 420714304 | |
| Power Grid Corporation o | 229.7 | -1.06 | 25283269 | 10059871 | 72.75 | Nifty Fmcg | 44858.3 | -0.25 | 847652 | |
| Ultratech Cement Limited | 7289.95 | 2.61 | 383505 | 334040 | 72.65 | Nifty Pharma | 11676.15 | -0.57 | 55531591 | |
| Hdfc Ltd. | 2564.15 | 1.29 | 4979214 | 2765696 | 70.18 | Nifty Realty | 399 | 3.03 | 1641482429 | |
| Samvardhana Motherson | 67.8 | -1.02 | 28490207 | 291141724 | 69.33 | Nifty Auto | 12245.95 | -0.48 | 52879198 | |
| Tata Consultancy Serv Lt | 3179.3 | -0.18 | 6739966 | 1312156 | 69.02 | Nifty Metal | 5602.6 | 2.39 | 116533909 | |
| Infosys Limited | 1420.7 | 1.18 | 9090018 | 5020178 | 68.55 | Nifty Financial Services | 17671.4 | 1.19 | 5413202 | |
UPCOMING ECONOMIC DATA
| Domestic International | |
| INR: Federal Fiscal Deficit (Feb) 31st March, 2023
INR: Infrastructure Output (YoY) (Feb) 31st March, 2023 |
USD: Existing Home Sales (Feb) on 21st March, 2023
USD: Fed Interest Rate Decision on 22nd March, 2023 |
NEWS UPDATES
-
Benchmark indices ended higher in the volatile session on March 17 with Nifty at 17,100. At close, the Sensex was up 355.06 points or 0.62% at 57,989.90, and the Nifty was up 114.40 points or 0.67% at 17,100. About 2008 shares advanced, 1407 shares declined, and 118 shares unchanged.
-
Shares of Nykaa owner FSN E-Commerce Ventures rose 3 percent on Friday after bulk deals totaling 6.57 million shares or 0.23 percent equity worth Rs 93.2 crore at Rs 141.90 apiece.
-
There was some rebound in metal stocks on March 17 after Thursday’s selloff. Investors rushed to buy steel stocks today with steel manufacturers signing contracts with the Government for PLI scheme.
-
The National Company Law Tribunal (NCLT) on March 17 approved the merger of HDFC and HDFC Bank, which is deemed to be the biggest merger in corporate history. India’s largest housing finance company HDFC Ltd will merge with country’s largest private lender HDFC Bank to create a banking behemoth.
Source: Economic Times, Indian Express, Business Today, Livemint, Business Standard, Bloomberg Quint
BOARD MEETINGS
| Company Name | Purpose | Meeting Date | Company Name | Purpose | Meeting Date |
| ANANDRATHI | General | 20-Mar-23 | SBICARD | Interim Dividend | 21-Mar-23 |
| BCONCEPTS | Employees Stock Option Plan;Interim Dividend;General | 20-Mar-23 | SHRINIWAS | Right Issue of Equity Shares;General | 21-Mar-23 |
| BRANDBUCKT | Increase in Authorised Capital | 20-Mar-23 | TWL | Employees Stock Option Plan | 21-Mar-23 |
| CINEVISTA | General | 20-Mar-23 | ASSOCER | General | 22-Mar-23 |
| DATASOFT | Quarterly Results;Audited Results | 20-Mar-23 | UNICK | General | 22-Mar-23 |
| DWARKESH | Interim Dividend | 20-Mar-23 | ZDHJERK | General | 22-Mar-23 |
| GFIL | General | 20-Mar-23 | AARTECH | General | 23-Mar-23 |
| INDSOYA | General | 20-Mar-23 | METROBRAND | General | 23-Mar-23 |
| JOINDRE | General | 20-Mar-23 | RADHIKAJWE | Stock Split | 23-Mar-23 |
| LOKESHMACH | General | 20-Mar-23 | RNBDENIMS | General | 23-Mar-23 |
| MKVENTURES | Right Issue of Equity Shares | 20-Mar-23 | SKIFL | General | 23-Mar-23 |
| NIHARINF | Preferential Issue of shares;General | 20-Mar-23 | WARDINMOBI | General | 24-Mar-23 |
| SBGLP | General | 20-Mar-23 | CONCORD | General | 27-Mar-23 |
| SYLPH | Stock Split;General | 20-Mar-23 | MYSPAPE | Quarterly Results | 27-Mar-23 |
| ANUBHAV | Increase in Authorised Capital;Issue Of Warrants;General | 21-Mar-23 | GAL | Preferential Issue of shares;Issue Of Warrants;General | 28-Mar-23 |
| ARAMBHAN | General | 21-Mar-23 | IFCI | Preferential Issue of shares | 28-Mar-23 |
| CILSEC | General | 21-Mar-23 | ADROITINFO | A.G.M. | 29-Mar-23 |
| CORNE | Right Issue of Equity Shares;Increase in Authorised Capital;General | 21-Mar-23 | EMAMIREAL | General | 31-Mar-23 |
| CRANESSOFT | Quarterly Results | 21-Mar-23 | EMPOWER | Consolidation of Shares;General | 04-Apr-23 |
| HIMATSEIDE | General | 21-Mar-23 | INFY | Final Dividend;Audited Results | 13-Apr-23 |
| HINDZINC | Interim Dividend | 21-Mar-23 | COFORGE | Audited Results;Interim Dividend | 27-Apr-23 |
| INDOWIND | General | 21-Mar-23 | ULTRACEMCO | Final Dividend;Audited Results | 28-Apr-23 |
Corporate Action
| Company Name | Ex-Date | Purpose | Company Name | Ex-Date | Purpose |
| CSL | 20-Mar-23 | Stock Split From Rs.10/- to Rs.2/- | GROWINGTON | 24-Mar-23 | Bonus issue 24:100 |
| HAL | 20-Mar-23 | Interim Dividend – Rs. – 20.0000 | SAIL | 24-Mar-23 | Interim Dividend – Rs. – 1.0000 |
| SRUSTEELS | 20-Mar-23 | Interim Dividend – Rs. – 0.1000 | STYRENIX | 24-Mar-23 | Interim Dividend – Rs. – 80.0000 |
| UJJIVAN | 20-Mar-23 | Interim Dividend – Rs. – 5.0000 | SUNCLAYLTD | 24-Mar-23 | Scheme of Arrangement |
| AFEL | 21-Mar-23 | Right Issue of Equity Shares | VIVANZA | 24-Mar-23 | Stock Split From Rs.10/- to Rs.1/- |
| AGIIL | 21-Mar-23 | Interim Dividend – Rs. – 1.0000 | VKAL | 24-Mar-23 | E.G.M. |
| GAIL | 21-Mar-23 | Interim Dividend – Rs. – 4.0000 | BHARATAGRI | 29-Mar-23 | Stock Split From Rs.10/- to Rs.1/- |
| HUDCO | 21-Mar-23 | Interim Dividend – Rs. – 0.7500 | HINDZINC | 29-Mar-23 | Interim Dividend |
| KAMAHOLD | 21-Mar-23 | Interim Dividend – Rs. – 84.0000 | SBICARD | 29-Mar-23 | Interim Dividend |
| KDDL | 21-Mar-23 | Interim Dividend – Rs. – 2.0000 | SYMPHONY | 29-Mar-23 | Buy Back of Shares |
| MCLOUD | 21-Mar-23 | Bonus issue 3:1 | CRISIL | 31-Mar-23 | Final Dividend – Rs. – 23.0000 |
| NATIONALUM | 21-Mar-23 | Interim Dividend – Rs. – 2.5000 | DWARKESH | 31-Mar-23 | Interim Dividend |
| PODARPIGQ | 21-Mar-23 | Interim Dividend – Rs. – 3.5000 | SCHAEFFLER | 11-Apr-23 | Final Dividend – Rs. – 24.0000 |
| STANCAP | 21-Mar-23 | E.G.M. | HUHTAMAKI | 20-Apr-23 | Dividend – Rs. – 2.0000 |
| SUNTV | 21-Mar-23 | Interim Dividend – Rs. – 2.5000 | JETINFRA | 21-Apr-23 | Bonus issue 1:1 |
| MIDHANI | 23-Mar-23 | Interim Dividend – Rs. – 1.6800 | NESTLEIND | 21-Apr-23 | Final Dividend – Rs. – 75.0000 |
| ABSLAMC | 24-Mar-23 | Interim Dividend – Rs. – 5.0000 | VESUVIUS | 26-Apr-23 | Final Dividend – Rs. – 8.2500 |
| AJANTPHARM | 24-Mar-23 | Buy Back of Shares | ABB | 27-Apr-23 | Dividend – Rs. – 5.5000 |
| BEL | 24-Mar-23 | Interim Dividend | KSB | 28-Apr-23 | Final Dividend – Rs. – 15.0000 |
| GLS | 24-Mar-23 | Interim Dividend – Rs. – 21.0000 | SANOFI | 28-Apr-23 | Final Dividend – Rs. – 194.0000 |
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