March F&O Series Ends With Cheer, Indian Stock Markets in a Bull Run
Market Outlook – 31 March 2017
March F&O Series Ends With Cheer; Bank Nifty Closed On A Lifetime High; Indian Stock Markets Are In A Bull Run; Trend Is Up, Traders And Investors Should Remain Only On The Buy Side.
Nifty saw choppy price actions but ultimately managed to close near the intraday high at 9175. For the first time Nifty has closed above 9170 levels which shows gaining strength in the index. March F&O expiry was a fruitful one which produces approximately 2.60 percent gains this month.
The Nifty is slowly but steadily moving higher from last three consecutive sessions. Besides that, the index consistently found buyers on dips at regular intervals (another sign of solidity). Additionally, Nifty is inching towards resistance level of 9200 and now it is at the brink of a new lifetime high.
On the other hand, Bank Nifty has made a new lifetime high almost crossing 21700 but finally closed above 21550. PSU Banks and financial stocks continue to attract buyers.
All in all bulls will be happy as there is no sign of weakness in the Nifty yet. Short term up trend is alive and kicking. Positional traders who have long positions should protect them with a proper stop loss.
Trend remains up; so intraday traders should look for a buying opportunity only on dips and consolidation patterns.
Bank Nifty has made a new lifetime high today near 21700. Prices started with minor gap down and made a low near 21330 initially. Index had found support there and rallied before entering in a narrow range. However, last half an hour surge on upside took index towards new highs.
March Expiry closed on a joyful note attaining 3 percent this month. Bank Nifty broke out from a trading range and traders went long above 21300 yesterday. Trend remains up in the index and we are gaining worthy amount from this trade. Now we are advising traders to hold these positions with a revised stop loss of 21300.
PSU Banking stocks like PNB, SBIN and Financial stocks like RECLTD, HDFCBANK are in a strong uptrend. Traders can also look for a buying opportunity in these stocks on dips and consolidation.
|KOTAKBANK||862||BUY||Intermediate and short term trend is up in KOTAKBANK. The stock has seen a minor correction and now building a pattern of Bullish Flag. We may see a breakout here. Buy this stock above 865. If this trade executes then place your stop just below 855 and a target near 885.|
|BEML||1319||BUY||Intermediate and short term trend is sideways in BEML. The stock has seen and upside rally and then started a process of consolidation from last two and half months. Prices are now trading very narrow suggests a breakout is very near. Buy this stock above 1322. If this trade executes then place your stop just below 1302 and a target near 1362.|
|Stock Name||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|ABIRLANUVO||APR FUT||BUY||1543.5||CMP||1525||1570||OI Increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|HDFCBANK.17.03 Mar||1466.5||2.65||14.2||20504000||ONGC.17.03 Mar||183.9||-1.84||3.99||25395000|
|PTC.17.03 Mar||91.9||2.62||5.38||7528000||IDFCBANK.17.03 Mar||59.65||-1.65||8.06||34008000|
|EICHERMOT.17.03 Mar||25656.8||2.53||11.06||153325||Bharat Electronics Limit||153.5||-1.57||5.44||14040000|
|BHARTIARTL.17.03 Mar||351.15||2.06||6.95||16743300||COALINDIA.17.03 Mar||289.5||-1.51||0.16||9698500|
|CASTROLIND.17.03 Mar||429||1.6||27.39||4023600||BOSCHLTD.17.03 Mar||22598.55||-1.5||15.02||77325|
|Short covering||Long Unwinding|
|IBREALEST.17.03 Mar||8.52||-14.9||11250000||87.25||IDEA.17.03 Mar||87.05||-2.25||-6.52||53718000|
|TORNTPOWER.17.03 Mar||5.82||-6.37||1455000||236.35||BHEL.17.03 Mar||164.4||-2.23||-19.65||13225000|
|HDIL.17.03 Mar||5.26||-8.16||12160000||82.05||IDBI.17.03 Mar||74.5||-2.04||-30.82||15280000|
|BATAINDIA.17.03 Mar||4.22||-7.57||1449800||569.55||JUSTDIAL.17.03 Mar||542.8||-1.99||-31.87||1174800|
|JETAIRWAYS.17.03 Mar||3.51||-26.06||1983000||532.3||M&MFIN.17.03 Mar||314.85||-1.98||-5.38||6817500|
Top Delivery Percentage
|Stocks||Price||%Chg||Vol||Delivery||Del %||% Change|
|Torrent Pharma Ltd.||1497.15||2.55||215975||8949636||99.06||Nifty 50||9173.75||0.33||79995|
|HAVELLS INDIA LIMITED||471||2.2||2556202||19357038||96.11||Nifty Bank||21620.7||1.07||79995|
|IndusInd Bank Ltd.||1422.3||1.72||1430611||7916496||94.3||Nifty IT||10730.75||-0.1||79995|
|Biocon Limited||1139.05||-0.99||303780||2105796||86.35||INDIA VIX||12.15||0.5||79995|
|Kotak Mahindra Bank Limi||865.15||0.88||3534385||4088951||85.02||Nifty Energy||11377.65||0.34||79995|
|Sun Pharma Ltd||687.05||-0.09||2558208||4274679||82.96||Nifty Pharma||10407.3||-0.12||79998|
|HCL Technologies Ltd.||875.85||-0.2||1463739||1743125||82.17||Nifty Realty||215.3||1.84||79998|
|Bharti Airtel Limited||351.2||1.84||3916104||7207668||81.39||Nifty Infrastructure||3082.6||0.31||79998|
|HDFC Ltd.||1519.95||-0.14||8057156||2911900||80.99||Nifty PSU Bank||3514.35||0.78||79998|
|NTPC Limited||163.1||-0.52||8013105||3058551||79.83||Nifty Auto||9860.3||0.15||79998|
Upcoming Economic Data
|•Nikkei Manufacturing PMI on 03rd April , 2017.
•IIP Data on 12th April , 2017. (Tentative)
|•Axis Bank has tied up with Wells Fargo, the third largest American bank by assets, to offer real time remittances from the Indian diaspora to their relatives back home.
•Dilip Buildcon has received letter of award from the National Highways Authority of India for three projects in a single stretch in the state of Maharashtra. Dilip Buildcon has been awarded three projects valued at Rs 3,269 crore.
•Larsen & Toubro (L&T) ‘s construction arm has recently bagged orders worth Rs 1,725 crore across two of its business segments. In the transportation infrastructure business, the company bagged contracts worth Rs 725 crore.
•Aurobindo Pharma has received final approval from the US health regulator to manufacture abacavir sulfate and lamivudine tablets, used in the treatment of HIV.
Source: Economic Times, Business Standard .
|Company Name||Purpose||Meeting Date||Company Name||Purpose||Meeting Date|
|MONNETISPA||Board Meeting Postponed||31-Mar-17||PRIMESECU||Results||6-Apr-17|
|MIC||Allotment of Securities||31-Mar-17||GMBREW||Results/Dividend||6-Apr-17|
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|ASHARI||Bonus issue 4:1||31-Mar-17||AEL||Interim Dividend – Rs. – 0.1500||7-Apr-17|
|INFRATEL||Interim Dividend – Rs. – 12.0000||31-Mar-17||BOCINDIA||Dividend – Rs. – 0.7500||7-Apr-17|
|SFCL||Amalgamation||31-Mar-17||MINDTREE||Interim Dividend – Rs. – 2.0000||7-Apr-17|
|OIL||Buy Back of Shares||3-Apr-17||KSBPUMPS||Dividend – Rs. – 5.5000||12-Apr-17|
|CONCOR||Bonus issue 1:4||5-Apr-17||SANOFI||Final Dividend – Rs. – 50.0000||25-Apr-17|
|COLPAL||Interim Dividend – Rs. – 3.0000||6-Apr-17||MERCK||Dividend – Rs. – 11.0000||27-Apr-17|
|SKFINDIA||Buy Back of Shares||6-Apr-17||ABB||Dividend – Rs. – 4.0000||28-Apr-17|
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