Indian Stock Markets are in a Bull Run, Trend Is Up
Market Outlook 15 Mar 2017
Markets Breakout From Three Week Trading Range; Bank Nifty, Nifty Record New Lifetime Highs; Indian Stock Markets Are In A Bull Run; Trend Is Up, Traders And Investors Should Remain Only On The Buy Side
Nifty has seen a breakout from a trading range (8860-8980) with a handsome gap up register today due the outcome from election results. Nifty has made a new lifetime highs at 9122 but eventually closed below 9100 level. After a move like this, markets do consolidate and even retrace after such moves, a dip should be a buying opportunity in that scenario.
Traders are carrying long position should take profit from their positions tomorrow morning (both call and future).
Short term trend is up, but fresh buying should be done when new setups or patterns come in. Till then, buy on intraday dips, avoid carrying positions.
Option Trade in NIFTY
We had bought 8900 Call Options March Expiry at the price of 160 in Wednesday’s trading session.
Now it is a gamble that paid off as we had purchased this level for the election result only.
Now, as we got a significant gain from this breakout; we are advising traders to book profit from these positions at tomorrow morning price.
Bank Nifty opened with a big gap up of more than 400 points at 21189 and initial rally took prices to lifetime highs of 21274. After that, prices consolidated inside hundred points and made a low at 21060. Eventually, index closed near the lows but with a gain of 300 points (thanks to enormous gap up).
On the daily charts, prices broke out from more than three week trading range (20400 – 21100). We had anticipated a big move as prices were in a contraction phase and expansion was imminent.
We had suggested a trade in the Bank Nifty according to the breakout or breakdown.
Buy if Bank Nifty breaks above 20950; OR; Sell if a price breaks below 20450. However, we had also suggested applying first 15 min rule if index opens beyond this range.
Bank Nifty opened above 20950 and prices did not cross first 15 min high, so trade was not executed. Now, after a gap up like this, we may see some consolidation within the index. Therefore, swing traders should wait for the new trading opportunity. However, intraday traders can look to trade only on the buying side on dips or consolidation patterns
|LICHSGFIN||580||BUY||Intermediate and short term trend is up in LICHSGFIN. The stock has seen a breakout from a bullish head and shoulder pattern. We may see higher levels. Buy this stock above 581. If this trade executes then place your stop just below 559 and a target near 625.|
|VOLTAS||384||BUY||Intermediate and short term trend is up in VOLTAS. The stock has seen sustain up move and now trading in a range. We may see a breakout on the upside. Buy this stock above 388. If this trade executes then place your stop just below 378 and a target near 408.|
|Stock Name||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|CEAT LTD||MAR FUT||BUY||1233||CMP||1215||1260||OI Increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|CEATLTD.17.03 Mar||1236||6.56||34.94||2555000||BHARATFIN.17.03 Mar||814.2||-2.25||8.26||17947000|
|SRTRANSFIN.17.03 Mar||1023.65||6.49||6.14||3195600||IDEA.17.03 Mar||103.1||-1.58||1.26||83986000|
|IBULHSGFIN.17.03 Mar||907.6||5.82||4.81||14222400||BOSCHLTD.17.03 Mar||22400||-1.44||5.1||89125|
|DHFL.17.03 Mar||344.9||5.54||3.74||19989000||BHARTIARTL.17.03 Mar||360.65||-1.1||3.07||40371600|
|ICICIBANK.17.03 Mar||286.9||5.52||5.27||71120000||UPL.17.03 Mar||701.5||-0.82||8.75||6604800|
|Short covering||Long Unwinding|
|APOLLOTYRE.17.03 Mar||3.84||-1.3||15462000||186.75||NIFTYMID50.17.03 Mar||4010||-5.62||-50||200|
|ADANIENT.17.03 Mar||3.23||-0.25||19176000||97.5||JPASSOCIAT.17.03 Mar||14.25||-5||-1.02||1.39E+08|
|CG POWER AND INDUSTRIAL||3.06||-7.41||17088000||70.75||JINDALSTEL.17.03 Mar||124.5||-1.23||-7.53||38034000|
|L&TFH.17.03 Mar||2.96||-2.16||19953000||121.55||DJIA.17.03 Mar||20850||-0.33||-6.34||43020|
|JSWSTEEL.17.03 Mar||2.83||-2.35||43107000||181.7||S&P500.17.03 Mar||2372.5||-0.07||-10.79||533500|
TOP DELIVERY PERCENTAGE
|Stocks||Price||%Chg||Vol||Delivery||Del %||% Change|
|Hindustan Unilever Ltd||913.75||4.4||2763421||1370915||89.38||Nifty 50||9087||1.71||86058|
|Dabur India Ltd.||273.6||0.07||2533256||1031652||83.91||Nifty Bank||21102.7||1.81||86058|
|IndusInd Bank Ltd.||1354.2||1.38||930423||1226152||75.93||INDIA VIX||12.4||-11.17||86058|
|United Breweries Limited||774.5||0.8||143093||237617||74.72||Nifty Pharma||10648.05||1.72||86058|
|HDFC Ltd.||1424.15||3.67||6249576||1196665||74.44||Nifty Realty||203.4||2.6||86058|
|Kirloskar Cummins Ltd.||847.1||-0.98||400592||177163||74.02||Nifty Infrastructure||3049.65||2.09||86058|
|GAIL (India) Limited||375.8||-0.65||10797125||4349409||73.75||Nifty Auto||9910.4||1.34||86058|
|HDFC Bank Ltd.||1410.7||0.76||1788755||1044220||71.27||Nifty Metal||3032.1||-0.08||86058|
|Power Grid Corporation o||193.65||0.57||6686042||6538901||70.93||Nifty Commodities||3397.95||0.97||86058|
UPCOMING ECONOMIC DATA
|US Existing Home Sales (Feb) on 22nd March, 2017.||•|
|•Tata Power Solar has expanded the capacity of its cell and module manufacturing facility in Bengaluru.
•NTPC, the largest Indian power generation company plans to set up fair price pharmacies near its power plants. To begin, it would be setting up 10 such pharmacies which would later be increased.
•Hindustan Zinc, a producer of zinc-lead-silver, will commission its first Zinc fumer plant at the cost of Rs. 570 crore to extract metals from the waste
•DiSTI Corporation has announced a strategic partnership with Tata ElxsiBSE 0.98 % to deliver DiSTI’s GL Studio UI products with Tata Elxsi software services.
Source: Economic Times, Business Standard
|Company Name||Purpose||Meeting Date||Company Name||Purpose||Meeting Date|
|SGFL||Board Meeting Adjourned||15-Mar-17||SANDESH||Dividend||16-Mar-17|
|SBIN||Raising of Funds||15-Mar-17||FARMAXIND||Others||16-Mar-17|
|KALPATPOWR||Raising of Funds||15-Mar-17||ABMINTLTD||Bonus||17-Mar-17|
|UNIPLY||Raising of Funds||16-Mar-17||SURANAT&P||Issue of Securities||17-Mar-17|
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|KPEL||Bonus issue 1.501||15-Mar-17||NMDC||Interim Dividend – Rs. – 4.1500||16-Mar-17|
|VGUARD||Bonus issue 2:5||15-Mar-17||SBBJ||Amalgamation||16-Mar-17|
|ACC||Dividend – Rs. – 6.0000||16-Mar-17||SBT||Amalgamation||16-Mar-17|
|AMBUJACEM||Final Dividend – Rs. – 1.2000||16-Mar-17||SUNCLAYLTD||Interim Dividend – Rs. – 16.5000||20-Mar-17|
|BEL||Stock Split From Rs.10/- to Rs.1/-||16-Mar-17||CRISIL||Dividend – Rs. – 9.0000||21-Mar-17|
|CADILAHC||Interim Dividend – Rs. – 3.2000||16-Mar-17||SHILPAMED||Interim Dividend – Rs. – 0.6000||21-Mar-17|
|HEROMOTOCO||Interim Dividend – Rs. – 55.0000||16-Mar-17||BEARDSELL||Interim Dividend – Rs. – 1.5000||22-Mar-17|
|KUSHAL||Bonus issue 1:1||16-Mar-17||PHL||Interim Dividend – Rs. – 7.5000||22-Mar-17|
|MYSOREBANK||Amalgamation||16-Mar-17||SUNTV||Interim Dividend – Rs. – 5.0000||22-Mar-17|
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