Month: March 2022

Categories
Daily Reports

Daily Report 30-Mar-22

Russia-Ukraine talks: Russia to sharply cut military operation near KYIV & CHERNIHIV. Globally market as taken this as a first step towards end of war.

Commodity prices cooled off on reaction of this news are covered after initial downward reaction. Gold went below $1900 is now above $1920. Crude Oil recovered around $4 – 5 from yesterday’s low.

Click on the attachment to read the full report:
30th March 2022 – Daily Report.pdf
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Daily Reports

Daily Report 28-Mar-22

Indian Market25-Mar-22
IndicesCloseChange% chg
Nifty17153.00-69.75-0.40%
Sensex57362.20-233.48-0.41%
Banknifty35410.10-117.00-0.33%
Indian Market25-Mar-22
Other IndicesCloseChange% chg
Nifty Mid-Cap 10029274.55-33.80-0.12%
Nifty Small-Cap 10010304.45-51.20-0.49%
India VIX23.43-0.50-2.09%
US Market25-Mar-22
IndicesCloseChange% chg
Dow 3034861.24153.300.44%
S&P 5004543.0422.880.51%
Nasdaq14169.30-22.54-0.16%
Currency / Commodity25-Mar-22
IndicesCurrent
USD/INR76.1950
EUR/INR83.9560
Dollar Index99.115
US 10-year bond2.505%
WTI Crude Oil$ 110.58
Brent Crude Oil$ 114.30
Gold$ 1947
Bitcoin$ 46,862
FII / DII Activity25-Mar-22Rs. (In Crores)
(Provisional)BuySell
FII1507.37
DII1373.02

Trade Setup

  • China begins locking down most of its largest city, Shanghai, to begin mass testing its population of 26 million, reports AP
  • Russia-Ukraine crisis enters 33rd day – any positive news on this front will be taken positively for market, on-going conflict with no other nation getting involved will remain market neutral.
  • Indian market: focus will shift on final F&O expiry for March series and year end NAV management will keep downside limited.
  • Petrol & Diesel prices hiked for sixth time in seven days: 30 paise / Litre in Petrol & 35 paise / Litre in Diesel.
  • SGX Nifty @ 17212.50 up 21.50 points at 8:00 AM

Technical View

  • Nifty: RSI @ 53.74 & RSI average @ 52.63. 200-DMA @ 17036 & 20-DMA @ 16717. We expect Nifty to trade with downward bias and likely to test lower level at 17036 & 16717 and resistance level on Nifty comes at 17339.
  • Banknifty: took support near 20-DMA @ 35170 on Friday at 35203. Banknifty trading near important support level, below this Banknifty could test lower level at 34491 & 33940.
  • VIX @ 23.43: have cooled-off around 30 level in 1st week of March, but still remain above comfort level of 20, we expect volatility to continue.
  • SGX Nifty @ 17212.50: Indicate flat opening after last hour recovery on Friday, whether it was only limited to Friday or this trend can continue – opening hour trade will provide further cues.
  • Nifty & Banknifty trend reversal: Nifty at 17285 & Banknifty at 35957 could act as resistance level and above this could open further upside.

Stock Updates

  • PVR: The multiplex operator has approved a merger with Inox Leisure. Shareholders will get three shares of PVR for every ten shares they hold of Inox. PVR now operates the largest multiplex network in India with 871 screens at 181 properties in 73 cities (India and Sri Lanka).
  • Vedanta: The board of Vedanta approved capital expenditure of $687 million in Cairn Oil & Gas to increase near-term volume. It earmarked a capex of $466 million towards Zinc International’s Gamsberg Phase 2 project. Further, it has set aside $348 million for an expansion project at its subsidiary ESL Steel.
  • Larsen & Toubro: The Ministry of Defence has signed a contract with Larsen & Toubro for acquisition of two multipurpose vessels for Indian Navy at an overall cost of Rs 887 crore.
  • Bharti Airtel: Bharti Airtel to buy 4.7% stake in Indus Towers for Rs 2,388.06 crore.
  • Exide Industries: Exide Industries incorporated a wholly owned subsidiary, Exide Energy Solutions Ltd., to set up a a green field multi-gigawatt Lithium-ion cell manufacturing facility in India with an initial authorised and paid-up equity share capital of Rs 100,000.
Disclaimer: The market view and updates we are sharing are true to the best of our knowledge and sharing just for information purpose and any action would be purely investor’s own responsibility. Investor are advised to take necessary guidance from certified adviser and hence we will not be responsible for any profit or loss incurred due it. We do not have PMS license and we are not recommending anything to buy or sell.
Categories
Weekly Reports

Weekly Report 26-Mar-22

Indian Market25-Mar-22
Weekly ChangeCloseChange% chg
Nifty17153.00-134.05-0.78%
Sensex57362.20-501.730.87%
Banknifty35410.10-1018.45-2.80%
Indian Market25-Mar-22
Other IndicesCloseChange% chg
Nifty Mid-Cap 10029274.55296.651.02%
Nifty Small-Cap 10010304.4525.400.25%
India VIX23.430.823.63%
US Market25-Mar-22
Weekly ChangeCloseChange% chg
Dow 3034861.24111.880.32%
S&P 5004543.0479.951.79%
Nasdaq14169.30275.461.98%
Currency / Commodity25-Mar-22
IndicesCurrent
USD/INR76.1950
EUR/INR83.9560
Dollar Index98.843
US 10-year bond2.488 %
WTI Crude Oil$ 112.58
Brent Crude Oil$ 117.34
Gold$ 1957.75
Bitcoin$ 44,535
FII / DII Activity25-Mar-22Rs. (In Crores)
(Weekly - Prov)BuySell
FII-5344.39
DII2820.72

Technical Insight

  • Nifty remain range of 17006 – 17442. Nifty took support at 200-DMA on Tuesday and manage to hold to this level, Friday’s session was weak until last hour short covering rally.
  • Nifty 200-DMA @ 17036 will continue to act as important support level and 20-DMA comes at 16717. This week high of 17442 would act is important resistance level going into final F&O expiry.
  • Looking at Nifty's chart – we would remain cautious with and expect 200-DMA to broken next week and 20-DMA could be tested around 16717 level. Trendline support is expected around 16400 level.
  • Banknifty faces resistance at 200-DMA @ 36706, was able to cross intraday but closing was below 200-DMA.
  • Banknifty on Friday took support at 20-DMA @ 35170, made low of 35203 on Friday, remain critical going into final F&O expiry week.
  • Gap between 20-DMA & 200-DMA comes around 1500 points, chart indicates bearish formation and would prefer to go short once 20-DMA on Banknifty is broken.

Fundamental Insight

  • Global factor continues to circle around Russia-Ukraine crisis. US has put further sanctions on Russian law maker and corporates. Russia continues to remain major energy partner for Europe as supply of Natural gas and Crude Oil continues, latest news is US & EU strike LNG deal as Europe seeks to cut dependence on Russian gas.
  • Year end factors keeps downside in market limited, this week ended flat in a volatile trade. Mid-Cap & Small-Cap seen reviewed interest and we see it as year end factor which may continue going into result season.
  • Domestic fuel prices increase 4 times this week as international crude oil prices are back above $110.
  • FII selling pressure has reduced and we believe Indian market remain hostile to FII selling and continue to trade in volatile range going into final F&O expiry.
  • IT stocks bounce back from lows and few names are within 5% of its recent high and companies like TATAELXSI are trading at fresh 52 week high.
  • Russia-Ukraine crisis enters 5th week, Russia started its military operations on 24-Feb-22.
  • We continue to maintain our view mention last week. Even if things get normalize and market may see some relief rally – it could very well be a selling opportunity, as we see change in commodity price, business preference and sanctions on Russia may change business preference.

Market View & Strategy

  • Market had reacted to Russia-Ukraine crisis and as it enter its 5th week, unless major escalation, downside on this news seems to be limited. Indian market going through year-end factor / NAV management keeping Mid-Cap & Small-Cap stocks in focus.
  • Relief rally post US FOMC outcome last week which was followed by volatile session this week, we would prefer to reduce exposure and bet for downward move in final week of F&O expiry and financial year end.
  • In either or case, interest rate is moving higher and US Fed post its post meeting press conference is not ruling out 50 bps rate hike in May 2022 US FOMC meeting. US Fed has already guided for announcement on Balance sheet downsizing in May 2022 meeting which would remain a big overhand on market.
  • We remain highly cautious and would follow strategy – “Sell on Rise” & bring exposure level around 50% of lower as we see major correction even from current level with next 1 – 3 months view which also includes Q4FY22 earnings season.
Disclaimer: The market view and updates we are sharing are true to the best of our knowledge and sharing just for information purpose and any action would be purely investor’s own responsibility. Investor are advised to take necessary guidance from certified adviser and hence we will not be responsible for any profit or loss incurred due it. We do not have PMS license and we are not recommending anything to buy or sell.
Categories
Daily Reports

Daily Report 25-Mar-22

Indian Market24-Mar-22
IndicesCloseChange% chg
Nifty17222.75-22.90-0.13%
Sensex57595.68-89.14-0.15%
Banknifty35527.10-620.25-1.72%
Indian Market24-Mar-22
Other IndicesCloseChange% chg
Nifty Mid-Cap 10029308.35171.050.59%
Nifty Small-Cap 10010355.6544.650.43%
India VIX23.93-0.82-3.31%
US Market24-Mar-22
IndicesCloseChange% chg
Dow 3034707.95349.441.02%
S&P 5004520.1663.921.43%
Nasdaq14191.84269.231.93%
Currency / Commodity24-Mar-22
IndicesCurrent
USD/INR76.3250
EUR/INR83.8970
Dollar Index98.532
US 10-year bond2.372%
WTI Crude Oil$ 112.22
Brent Crude Oil$ 119.19
Gold$ 1964.70
Bitcoin$ 44,049
FII / DII Activity24-Mar-22Rs. (In Crores)
(Provisional)BuySell
FII1740.71
DII2091.07

Trade Setup

  • Indian market ended the day flat, but Banknifty ended with cut of 1.72% on back of KOTAKBANK block deal. IT continue its upward momentum and Mid-Cap & Small-Cap seeing some build up ahead of FY end.
  • NATO emergency summit: U.S. imposed new sanctions on over 400 political figures, oligarchs & defense cos. Biden said that he believed Russia should be ousted from Group of 20
  • U.S. expected to announce on Friday measures to enhance European energy security & cut its dependence on Russian gas
  • NATO Summit: France President MACRON – We are entering in an unprecedented food crisis; situation will be worse in in 12 to 18 months as Ukraine cannot sow.
  • OMC hikes fuel prices 3rd time in last 4 days. Crude Oil cooled off around $3 yesterday.

Technical View

  • Nifty: RSI @ 55.21 & RSI average @ 52.35, showing signs of tiredness and supply at higher level. Nifty may attempt to test recent high 17442 & 17515 level. Nifty support remains at 17024 & 16765.
  • Banknifty: 200-DMA @ 36707 & 20-DMA @ 35270. Banknifty continue to remain in range with negative bias, Banknifty after yesterday’s move is in oversold zone rally going into final F&O expiry not ruled out.
  • VIX @ 23.93: continue to trade above comfort level of 20, expect volatility to continue ahead of final F&O expiry and financial year end.
  • SGX Nifty: indicate opening around 100 points up, first up may get sold into and real strength has to come from Banking stocks.

Stock Updates

  • Tata Consumer: The company will consider preferential issue of equity shares representing 1.5% of the paid-up share capital to a foreign company on March 29.
  • Gulshan Polyols: The company approved allotment of 24,16,000 equity shares to five QIBs at the issue price of Rs 326.48 per share (including a premium of 325.48 at the face value of Rs 1 per share) which is at a discount of 5% to the floor price of Rs 343.66 per share.
  • Zen Technology: The company received a project order sanction from the Indian Army for design and development of a prototype of the Integrated Air Defence Combat Simulator. The equipment will help in imparting training to gunners at unit level.
  • Lupin: The company has received approval from the United States Food and Drug Administration for Sildenafil for oral suspension, 10 mg/ml to market a generic equivalent of Revatio for oral suspension. The drug will be manufactured at company’s facility in Goa.
  • NTPC: The company commissioned 42.5 MW of 100 MW Ramagundam Floating Solar PV Project in Telangana, taking the company’s total commercial capacity to 54,494.68 MW.
Disclaimer: The market view and updates we are sharing are true to the best of our knowledge and sharing just for information purpose and any action would be purely investor’s own responsibility. Investor are advised to take necessary guidance from certified adviser and hence we will not be responsible for any profit or loss incurred due it. We do not have PMS license and we are not recommending anything to buy or sell.
Categories
Daily Reports

Daily Report 14-Mar-22

Indian Market11-Mar-22
IndicesCloseChange% chg
Nifty16630.4535.550.21%
Sensex55550.3085.910.15%
Banknifty34546.2570.650.20%
Indian Market11-Mar-22
Other IndicesCloseChange% chg
Nifty Mid-Cap 10028210.35171.650.61%
Nifty Small-Cap 10010158.4091.900.91%
India VIX25.35-0.23-0.90%
US Market11-Mar-22
IndicesCloseChange% chg
Dow 3032944.19-229.88-0.69%
S&P 5004204.31-55.21-1.30%
Nasdaq12843.81-286.15-2.18%
Currency / Commodity11-Mar-22
IndicesCurrent
USD/INR76.40
EUR/INR84.146
Dollar Index99.237
US 10-year bond2.037 %
WTI Crude Oil$ 106.27
Brent Crude Oil$ 109.59
Gold$ 1976.80
Bitcoin$ 38,141
FII / DII Activity11-Mar-22Rs. (In Crores)
(Provisional)BuySell
FII2263.90
DII1686.85

Trade Setup

  • Russia-Ukraine crisis: News over the weekend continue to remains a concern as military operation enters the 19th day.
  • In a latest update on Russia-Ukraine crisis: Ukrainian negotiator & presidential adviser - "We will not concede in principle on any positions. Russia now understands this & is beginning to talk constructively. I think that we will achieve some results in a matter of days"
  • Global market hopeful of latest peace talk, Crude Oil cooled-off further around $3 down on WTI & Brent crude, gold trading below $2000.
  • In a holiday shorten week, where US FOMC meeting outcome on 16-Mar-22, US 10-year bond yield back above 2.00%. SGX Nifty indicates opening around 16600 level.
  • SGX Nifty @ 16572.50 down 77 points at 8:00 AM.

Technical View

  • Nifty witness sharp bounce back from oversold zone, Nifty RSI & RSI average on 7-Mar EOD was 30.47 & 37.70 respectively, and as on 11-Mar-22 – RSI @ 46.37 & RSI average @ 40.76.
  • Comparing RSI from 7-Mar & 11-Mar, witnessing sharp bounce back will get sold into at the same pace. Nifty is very much is down trend and taking support around 15700 to be closely watched.
  • Banknifty could test 32155 (recent low) & 31504 level in case further weakness. Banknifty 200-`DMA @ 36685 could act as strong resistance level.
  • Banknifty counter trade opportunity: US FOMC event will have direct impact on Banknifty and 10-Mar-22 high of 35374 – cross over this level could provide good entry opportunity.

Stock Updates

  • GAIL India: The company approved second interim dividend of Rs 5 per equity share, 50% of the paid up share capital.
  • Lupin: The company received U.S. FDA approval for its Abbreviated New Drug Application (ANDA), Vigabatrin for Oral Solution USP, 500 mg to market a generic equivalent of Sabril for Oral Solution, 500 mg of Lundbeck Pharmaceuticals.
  • HDFC Bank: The Reserve Bank of India has allowed HDFC Bank to resume new digital initiatives, removing all previous curbs.
  • One 97 Communications: The Reserve Bank of India has barred Paytm Payments Bank from adding new customers.
  • Tech Mahindra: Acquires Thirdware Solutions for $42 million.
  • Torrent Power: The company has completed acquisition of Surya Vidyut that operates 156 MW Wind power plants spread across the states of Gujarat, Rajasthan, and Madhya Pradesh.
Disclaimer: The market view and updates we are sharing are true to the best of our knowledge and sharing just for information purpose and any action would be purely investor’s own responsibility. Investor are advised to take necessary guidance from certified adviser and hence we will not be responsible for any profit or loss incurred due it. We do not have PMS license and we are not recommending anything to buy or sell.
Categories
Weekly Reports

Weekly Report 12-Mar-22

Indian Market11-Mar-22
Weekly ChangeCloseChange% chg
Nifty16630.45385.102.37%
Sensex55550.301216.492.24%
Banknifty34546.25138.450.40%
Indian Market11-Mar-22
Other IndicesCloseChange% chg
Nifty Mid-Cap 10028210.35693.252.52%
Nifty Small-Cap 10010158.40406.454.17%
India VIX25.35-2.61-9.33%
US Market11-Mar-22
Weekly ChangeCloseChange% chg
Dow 3032944.19-670.61-1.99%
S&P 5004204.31-124.56-2.88%
Nasdaq12843.81-469.63-3.53%
Currency / Commodity11-Mar-22
IndicesCurrent
USD/INR76.40
EUR/INR84.1460
Dollar Index99.115
US 10-year bond1.997 %
WTI Crude Oil$ 109.20
Brent Crude Oil$ 112.42
Gold$ 1992.25
Bitcoin$ 38,452
FII / DII Activity11-Mar-22Rs. (In Crores)
(Weekly - Prov)BuySell
FII24,688.44
DII17,729.12

Technical Insight

  • Nifty witness sharp bounce back from oversold zone, Nifty RSI & RSI average on 7-Mar EOD was 30.47 & 37.70 respectively, and as on 11-Mar-22 – RSI @ 46.37 & RSI average @ 40.76.
  • Comparing RSI from 7-Mar & 11-Mar, witnessing sharp bounce back will get sold into at the same pace. Nifty is very much is down trend and taking support around 15700 to be closely watched.
  • Nifty 200-DMA comes @ 16966 & 20-DMA @ 16766, both this level to act is resistance level and support could be 15702 & in case of major fall 15344 could act is important support level. Lower levels are derived from Fibonacci extension.
  • Banknifty chart looks very different from Nifty, what is the difference – it is very weak compare to Nifty.
  • Banknifty recent high was post Budget at 39424 on 3-Feb-22, post this correction in Banknifty – there has never been any significant bounce back.
  • Banknifty could test 32155 (recent low) & 31504 level in case further weakness. Banknifty 200-`DMA @ 36685 could act as strong resistance level.
  • Banknifty counter trade opportunity: US FOMC event will have direct impact on Banknifty and 10-Mar-22 high of 35374 – cross over this level could provide good entry opportunity.

Fundamental Insight

  • Global factor continues to circle around Russia-Ukraine crisis. This week US fed is expected to increase federal fund rate by 25 bps and comment on future steps to taken or guidance is keenly watched by market participants.
  • Commodity price, Nickel touched $100,000 in a short squeeze and LME banned trading in Nickel. Crude Oil cooed-off from high as initial reaction to US sanctions on Russian oil and Natural gas got absorbed.
  • Market witness relief rally from oversold zone once, on back of some diplomatic solution to Russia-Ukraine crisis.
  • News has been back-an-forth on Russia-Ukraine crisis, as latest news on Friday is – Ukraine foreign minister denied any positive development in 3rd round of talk.
  • Stagflation: is currently key fear that market is factoring into, due to war, sanctions and uncertain geo-political situation will impact global economic recovery.
  • Even if things get normalize and market may see some relief rally – it could very well be a selling opportunity, as we see change in commodity price, business preference and sanctions on Russia may change business preference.

Market View & Strategy

  • Central bank’s policy was moving towards higher interest rate and balance sheet shrinking and now Russia-Ukraine crisis will make business environment suffer as high commodity will be a big challenge – we call this as “Double whammy”.
  • In case there was no escalation on Russia-Ukraine crisis, US Fed was on set to increase rate by 50 bps in upcoming FOCM meeting on 15 – 16 March. But due this crisis US Fed will be watchful and guided for rate hike of 25 bps points.
  • Even in case of ceasefire, sanctions on Russia will remain and commodity prices will remain at elevated level unless there some dramatic change in fundamentals or ground level reality, we believe commodity prices will remain at elevated level for some time for now.
  • In either or case, interest rate is moving higher but pace of increase may vary base on changing geo-political circumstances. Prolong escalation may impact decision making process for international business may get impacted. Indices around 10 – 12% off from recent high with more correction seen in broader market. Russia-Ukraine crisis may end sooner rather than later as NATO have intended not to joint militarily and convert into NATO vs Russia war.
  • We remain highly cautious and would follow strategy – “Sell on Rise” & bring exposure level around 50% of lower as we see major correction even from current level with next 1 – 3 months view which also includes Q4FY22 earnings season.
Disclaimer: The market view and updates we are sharing are true to the best of our knowledge and sharing just for information purpose and any action would be purely investor’s own responsibility. Investor are advised to take necessary guidance from certified adviser and hence we will not be responsible for any profit or loss incurred due it. We do not have PMS license and we are not recommending anything to buy or sell.
Categories
Daily Reports

Daily Report 11-Mar-22

Indian Market10-Mar-22
IndicesCloseChange% chg
Nifty16615.90270.551.66%
Sensex55545.57898.241.64%
Banknifty34542.50727.052.15%
Indian Market10-Mar-22
Other IndicesCloseChange% chg
Nifty Mid-Cap 10028038.70253.200.91%
Nifty Small-Cap 10010066.50138.851.40%
India VIX25.58-1.89-6.88%
US Market10-Mar-22
IndicesCloseChange% chg
Dow 3033174.07-112.18-0.34%
S&P 5004259.20-18.36-0.43%
Nasdaq13129.96-125.58-0.95%
Currency / Commodity10-Mar-22
IndicesCurrent
USD/INR76.38
EUR/INR84.3620
Dollar Index98.517
US 10-year bond1.967%
WTI Crude Oil$ 106.02
Brent Crude Oil$ 108.95
Gold$ 1999.90
Bitcoin$ 38,426
FII / DII Activity10-Mar-22Rs. (In Crores)
(Provisional)BuySell
FII1981.15
DII945.71

Trade Setup

  • Indian market had huge gap-up on news of Russia-Ukraine looking towards diplomatic solution and election result in 5 state assembly election. Indian market ended off from day’s high on a weekly options expiry day. Nifty gained 1.66% & Banknifty was up 2.15%.
  • Russia-Ukraine foreign minister’s press conference after the talk in Turkey – failed to reach on any solution or ceasefire, Military operation continues on 15th day.
  • US CPI & Core CPI data came at 4-decade high, in line with expectation, US 10-year bond yield crossed 2.00% mark and current trading below this level.
  • Crude Oil & metal and other commodity cooled-off after initial reaction on Russia-Ukraine talk ended inconclusive.
  • SGX Nifty @ 16514.50 down 55.50 points at 8:25 AM.

Technical View

  • Nifty witness V-shape recovery and tested around 16750 level high made yesterday and on 28-Feb-22 after initial recovery from news first came on 24-Feb-22.
  • Nifty 200-DMA now @ 16959, now it will be important to watch whether market continues its lower top / lower bottom formation or not?
  • Banknifty gave a surprise move yesterday, Banknifty 200-DMA comes at 36686 – around 2000 points away from current level.
  • VIX @ 25.50, cooled-off from high, but still trading at elevated level.
  • Market had been reacting to geo-political news flow and now market is not getting knee-jerk reaction on news from this end. Technical setup indicates – market recovered from oversold zone and now trading in range it could go either way. US FOMC meeting event is a key event to watch out for.

Stock Updates

  • Wipro: The company has announced a long-term partnership with Pandorum Technologies for development of technologies that shorten time-to-market and maximise patient outcome during R&D and clinical trials of regenerative medicine.
  • Indraprastha Gas: Received a letter of intent from the Petroleum and Natural Gas Regulatory Board for for development of CGD network in Banda, Chitrakoot and Mahoba in Uttar Pradesh.
  • Infosys: Announced a multi-year transformational collaboration with International Tennis Hall of Fame, making the company ITHF’s official digital innovation partner and title sponsor of the annual ATP Tour tournament — the Infosys Hall of Fame Open.
Disclaimer: The market view and updates we are sharing are true to the best of our knowledge and sharing just for information purpose and any action would be purely investor’s own responsibility. Investor are advised to take necessary guidance from certified adviser and hence we will not be responsible for any profit or loss incurred due it. We do not have PMS license and we are not recommending anything to buy or sell.
Categories
Daily Reports

Daily Report 10-Mar-22

Indian Market9-Mar-22
IndicesCloseChange% chg
Nifty16345.35331.902.07%
Sensex54647.331223.242.29%
Banknifty33815.45657.351.98%
Indian Market9-Mar-22
Other IndicesCloseChange% chg
Nifty Mid-Cap 10027785.50586.952.16%
Nifty Small-Cap 1009927.65230.852.38%
India VIX27.47-1.12-3.92%
US Market9-Mar-22
IndicesCloseChange% chg
Dow 3033286.25653.612.00%
S&P 5004277.88107.262.57%
Nasdaq13255.554603.59%
Currency / Commodity9-Mar-22
IndicesCurrent
USD/INR76.70
EUR/INR83.9270
Dollar Index98.188
US 10-year bond1.936%
WTI Crude Oil$ 109.65
Brent Crude Oil$ 112.37
Gold$ 1980.50
Bitcoin$ 40,877
FII / DII Activity9-Mar-22Rs. (In Crores)
(Provisional)BuySell
FII4818.71
DII3275.94

Trade Setup

  • Indian market recovered with a broad base rally; Indices gain over 2% followed by 2% from Tuesday’s low. Market in oversold zone & positive news flow on Russia-Ukraine front kept market upbeat.
  • Russia-Ukraine crisis now enter 15th Day, yesterday news flow of Russia-Ukraine to reach out for diplomatic solution kept market mood upbeat.
  • Wall Street rallied on geo-political news, S&P500 was up 2.57% & Nasdaq was up 3.59%. Crude Oil down more than 10% as UAE & IRAQ talk of production increase to OPEC nations.
  • Important US Inflation data ahead of US FOMC meeting next week: CPI & Core CPI data to be released today and it will be much importance and market will take cues from it.
  • Election result today: Uttar Pradesh election result – is seen as semi-final to General election 2024, no of seats for NDA above 300 could trigger another round of rally in our market.
  • SGX Nifty @ 16646 up 301 points at 8:05 AM.

Technical View

  • Nifty RSI @ 41.02 compared to 30.47 as on Monday’s closing and RSI Average @ 37.77 compared to 37.70 as on Monday’s closing. We have mentioned a possibility of technical bounce back after Monday’s end of day data.
  • Nifty technical bounce could take to 200-DAM @ 16947, Nifty could anywhere test 16800 – 16900 level.
  • Banknifty 200-DMA comes at 36776, around 3000 points away from yesterday’s closing. Banknifty has been underperforming Nifty since 24-Feb-22 due to inflation fear.
  • VIX @ 27.47, cooled-off and today’s rally could further cool VIX around 22 – 24 level. But VIX above 20 – we remain cautious, as we see this rally as short covering or technical bounce back.
  • Fast up move after a sharp fall is to be seen as technical bounce back and short covering rally only. We mentioned such possibility of bounce back as per 7-Mar-22 EOD data.

Stock Updates

  • Jindal Stainless (Hisar): Became the first company producing coils, sheets and plates in the country to be certified with AS 9100D Certification—a quality management system for aviation, space and defence organisations.
  • Bharti Airtel: The telecom firm has agreed to aquire a little over 9% equity stake in Avaada CleanTN Project, a special purpose vehicle for owning and operating the captive power plant. The deal value is pegged at Rs 7.88 crore.
  • Future Lifestyle: The company has received termination notices on sub-leased properties from Reliance entities. Notices pertain to 34 Central stores and 78 Brand Factory stores that contribute 55-65% of retail revenue operations.
  • NTPC: Unit-3 of the 660 MW Nabinagar Power Generating Co. Ltd. has completed trial and operation and has been consequently included in the installed capacity of NTPC Group. The total installed capacity of Nabinagar Power and NTPC Group now stands at 1,980 MW and 68,567.18 MW, respectively.
  • Tata Power: Resurgent Power, in which the Tata Group firm holds 26% stake, has emerged as the successful bidder for South East UP Power Transmission Co.
  • Zydus Lifesciences: Gets final U.S. FDA approval for Nitroglycerin Sublingual Tablets.
Disclaimer: The market view and updates we are sharing are true to the best of our knowledge and sharing just for information purpose and any action would be purely investor’s own responsibility. Investor are advised to take necessary guidance from certified adviser and hence we will not be responsible for any profit or loss incurred due it. We do not have PMS license and we are not recommending anything to buy or sell.
Categories
Daily Reports

Daily Report 9-Mar-22

Indian Market8-Mar-22
IndicesCloseChange% chg
Nifty16013.45150.300.95%
Sensex53424.09581.341.10%
Banknifty33158.10286.850.87%
Indian Market8-Mar-22
Other IndicesCloseChange% chg
Nifty Mid-Cap 10027198.55332.651.24%
Nifty Small-Cap 1009696.80144.201.51%
India VIX28.59-0.74-2.52%
US Market8-Mar-22
IndicesCloseChange% chg
Dow 3032632.64-184.74-0.56%
S&P 5004170.62-30.47-0.73%
Nasdaq12795.55-35.41-0.28%
Currency / Commodity8-Mar-22
IndicesCurrent
USD/INR76.98
EUR/INR83.8440
Dollar Index99.050
US 10-year bond1.847%
WTI Crude Oil$ 125.74
Brent Crude Oil$ 130.55
Gold$ 2053.40
Bitcoin$ 39,223
FII / DII Activity8-Mar-22Rs. (In Crores)
(Provisional)BuySell
FII8142.60
DII6489.59

Trade Setup

  • Indian market recovered from lows, Nifty below 15700 to close around 16000 level from oversold zone. Banknifty continues to underperform.
  • US bans import of Russian Oil, UK also ban import of Russian import. However, no decision is taken on Natural gas. Not all European nations are keen on putting ban on import of Crude Oil & Natural gas – as Europe is much dependent on low-cost import from Russia.
  • Wall street ended the volatile session with minor cuts, as Ukraine president in an interview told – he is not long interested in NATO membership.
  • Russia-Ukraine crisis enters 14th day. Crude Oil at fresh high after oil import ban from Russia. Gold comfortably above $2000 mark, now trading at fresh life time high.
  • SGX Nifty @ 15933.50 down 8 points at 8:25 AM.

Technical View

  • Nifty holding on to level of 15743 on closing basis given hope of bounce back, Nifty however had broken this level on intraday basis.
  • Nifty continue to trade near oversold zone, Nifty important support level at 15743 and resistance at 16391 & 16810 level.
  • Banknifty important support level at 31502 and resistance level at 34309. Banknifty continue to trade near oversold zone.
  • VIX @ 28.59, continue to trade at elevated level. Recovery from oversold zone started in 2nd half yesterday is expected to continue and indices may test higher level.

Stock Updates

  • Dish TV: The company has disclosed the results of its annual general meeting held on Dec. 30, after SEBI's order directing it to do so. All three resolutions put to shareholder vote by the company have been defeated, according to its exchange filing.
  • Zydus Lifesciences: Subsidiaries entynl Therapeutics and BridgeBio Pharma executed an asset purchase agreement for sale of BridgeBio’s Nulibry (Fosdenopterin) for injection. Nulibry is approved by the U.S. Food and Drug Administration.
  • Bharat Forge: Subsidiary Kalyani Strategic Systems has incorporated Sagar-Manas Technologies, a joint venture with Open Joint Stock Company Dastan Transnational for upgradation and manufacturing/ providing solutions for marine and defense products.
  • ISGEC: The company received order from Shree Cement for cement waste heat recovery boilers for their 3.8 MTPA clinker capacity, integrated cement plant in Nawalgarh, Rajasthan. The scope of work includes designing, manufacturing, and supplying of PH Boiler in the pre-heater exhaust and AQC boiler in the cooler exhaust.
  • Brookfield India: The company has approved allotment of 52,800,000 units at an Issue price of Rs 110.46 per unit to Westwood Business Consultancy. The transaction is part of its Space Teleinfra deal.
Disclaimer: The market view and updates we are sharing are true to the best of our knowledge and sharing just for information purpose and any action would be purely investor’s own responsibility. Investor are advised to take necessary guidance from certified adviser and hence we will not be responsible for any profit or loss incurred due it. We do not have PMS license and we are not recommending anything to buy or sell.
Categories
Daily Reports

Daily Report 8-Mar-22

Indian Market7-Mar-22
IndicesCloseChange% chg
Nifty15863.15-382.20-2.35%
Sensex52842.75-1491.06-2.74%
Banknifty32871.25-1536.55-4.47%
Indian Market7-Mar-22
Other IndicesCloseChange% chg
Nifty Mid-Cap 10026865.90-651.20-2.37%
Nifty Small-Cap 1009552.60-199.35-2.04%
India VIX29.331.374.90%
US Market7-Mar-22
IndicesCloseChange% chg
Dow 3032817.38-797.42-2.37%
S&P 5004201.09-127.78-2.95%
Nasdaq12830.96-482.48-3.62%
Currency / Commodity7-Mar-22
IndicesCurrent
USD/INR77.10
EUR/INR83.4650
Dollar Index99.080
US 10-year bond1.796%
WTI Crude Oil$ 119.08
Brent Crude Oil$ 123.21
Gold$ 1991.40
Bitcoin$ 38,188
FII / DII Activity7-Mar-22Rs. (In Crores)
(Provisional)BuySell
FII7482.08
DII5331.03

Trade Setup

  • Indian market opened gap-down and was reacting to oil-shock over the weekend. Brent crude oil tested $130 in Monday’s opening trade, Banknifty underperformed with 4.47% down compared to Nifty with 2.35% cut.
  • Wall street ended with 2.37% - 3.63% cut on major indices. Geo-political continues to nerve the market as sanctions on Russia have sky rocketed commodity prices.
  • Nickel was up around 70% in yesterday’s trade. WTI & Brent crude oil cooled off from yesterday’s high, but still trading around $120. High commodity prices trigger the fear of stagflation.
  • Exit poll of 5 state assembly was out yesterday with Uttar Pradesh in focus, exit-poll giving Yogi led BJP government to retain power. AAP expected to form government in Punjab, BJP may retain Manipur. Goa & Uttarakhand is showing neck-to-neck fight as per exit poll.
  • SGX Nifty @ 15745 down 98 points at 8:25 AM.

Technical View

  • Nifty RSI @ 30.47 & RSI average @ 37.70 is currently in over-sold zone, Nifty could take support at 15729 level.
  • Nifty below 15729 could test 15379 and in case of technical bounce back – Nifty could test at 16447.
  • Banknifty continues to underperform, RSI @ 27.04 RSI average @ 37.05. Banknifty now enter critical level, where technical bounce on chart is possible.
  • VIX @ 29.33 – continues to remain at elevated level, we remain cautious and are seeing one strong bounce from Nifty holding on 15729 & Banknifty holding on to 31500 level.

Stock Updates

  • Dish TV: SEBI passed an interim order against the company, promoter, and MD Jawahar Goel, and the board of directors for alleged violation of listing regulations. The capital markets regulator also directed the compliance officer to disclose the voting results of the AGM and told depositories to freeze the demat accounts of Dish TV’s directors and compliance officer until they are out.
  • Natco Pharma: The company first generic version of Revlimid (Lenalidomide capsules) in the U.S. market for treatment of multiple myeloma in combination with the medicine dexamethasone, certain myelodysplastic syndromes, and mantle cell lymphoma following specific prior treatment. The capsules are available in 5 mg, l0 mg, 15 mg, and 25 mg strengths.
  • NLC India: The company declared interim dividend of Rs 1.5/share.
  • Metro Brands: The company declared interim dividend of Rs 1.5 per share. Chief Operating Officer Sahel Kamdar resigned.
  • Axis Bank: Report on Citi India retail deal speculative. Lender denies taking any such decision.
  • Future Retail: Shareholders, creditors to meet on April 20-21 to discuss the Reliance deal.
Disclaimer: The market view and updates we are sharing are true to the best of our knowledge and sharing just for information purpose and any action would be purely investor’s own responsibility. Investor are advised to take necessary guidance from certified adviser and hence we will not be responsible for any profit or loss incurred due it. We do not have PMS license and we are not recommending anything to buy or sell.