| Indian Market | 9-Mar-22 | ||
|---|---|---|---|
| Indices | Close | Change | % chg |
| Nifty | 16345.35 | 331.90 | 2.07% |
| Sensex | 54647.33 | 1223.24 | 2.29% |
| Banknifty | 33815.45 | 657.35 | 1.98% |
| Indian Market | 9-Mar-22 | ||
|---|---|---|---|
| Other Indices | Close | Change | % chg |
| Nifty Mid-Cap 100 | 27785.50 | 586.95 | 2.16% |
| Nifty Small-Cap 100 | 9927.65 | 230.85 | 2.38% |
| India VIX | 27.47 | -1.12 | -3.92% |
| US Market | 9-Mar-22 | ||
|---|---|---|---|
| Indices | Close | Change | % chg |
| Dow 30 | 33286.25 | 653.61 | 2.00% |
| S&P 500 | 4277.88 | 107.26 | 2.57% |
| Nasdaq | 13255.55 | 460 | 3.59% |
| Currency / Commodity | 9-Mar-22 |
|---|---|
| Indices | Current |
| USD/INR | 76.70 |
| EUR/INR | 83.9270 |
| Dollar Index | 98.188 |
| US 10-year bond | 1.936% |
| WTI Crude Oil | $ 109.65 |
| Brent Crude Oil | $ 112.37 |
| Gold | $ 1980.50 |
| Bitcoin | $ 40,877 |
| FII / DII Activity | 9-Mar-22 | Rs. (In Crores) |
|---|---|---|
| (Provisional) | Buy | Sell |
| FII | 4818.71 | |
| DII | 3275.94 |
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.
