| Indian Market | 11-Mar-22 | ||
|---|---|---|---|
| Indices | Close | Change | % chg |
| Nifty | 16630.45 | 35.55 | 0.21% |
| Sensex | 55550.30 | 85.91 | 0.15% |
| Banknifty | 34546.25 | 70.65 | 0.20% |
| Indian Market | 11-Mar-22 | ||
|---|---|---|---|
| Other Indices | Close | Change | % chg |
| Nifty Mid-Cap 100 | 28210.35 | 171.65 | 0.61% |
| Nifty Small-Cap 100 | 10158.40 | 91.90 | 0.91% |
| India VIX | 25.35 | -0.23 | -0.90% |
| US Market | 11-Mar-22 | ||
|---|---|---|---|
| Indices | Close | Change | % chg |
| Dow 30 | 32944.19 | -229.88 | -0.69% |
| S&P 500 | 4204.31 | -55.21 | -1.30% |
| Nasdaq | 12843.81 | -286.15 | -2.18% |
| Currency / Commodity | 11-Mar-22 |
|---|---|
| Indices | Current |
| USD/INR | 76.40 |
| EUR/INR | 84.146 |
| Dollar Index | 99.237 |
| US 10-year bond | 2.037 % |
| WTI Crude Oil | $ 106.27 |
| Brent Crude Oil | $ 109.59 |
| Gold | $ 1976.80 |
| Bitcoin | $ 38,141 |
| FII / DII Activity | 11-Mar-22 | Rs. (In Crores) |
|---|---|---|
| (Provisional) | Buy | Sell |
| FII | 2263.90 | |
| DII | 1686.85 |
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.