MARKET OUTLOOK – 01 Mar, 2017

Market Remains Flat; Nifty Hovers Around 8900; Waiting For Next Direction; Support Comes At 8800; Break Below Support Level May Result In Deeper Correction; Bank Nifty Remain Subdued; Avoid For Now;

daily market research analysis

NIFTYNifty opened with positive bias and  traded very choppy  in a range of just 40 points most part of the session but as the day progressed nifty did not sustain the above level and witness of some selling pressure at the end and closed  17 point down from the previous close at 8179.

Market are awaiting  two crucial event GDP data , which is expected to released in the evening and US president speech which might throw light on tax reform and infrastructure spending.

 As we have been already uploaded our view”s in previous report that 8970  is multiple resistance  for the index any sustainability above this level it can move higher upto 9200 mark  .On the other hand if index does not cross this  level we may see some profit booking in the index as index is doing for the same.

As of now 8970 -8820 is a current range of the index either side move will decide further direction .Overall  market trend remains up hence  we will be net buyer on dips.

BANK NIFTYBank Nifty witnessed choppy and narrow range day in the markets; prices started with a minor gap up but traded sideways for remaining part of the day. Eventually, it closed above 20600 with minor gains.

On the daily charts, Bank Nifty has made a pattern of NR7. The NR7 tells us that the Index has gone into deep contraction. The next move in this cycle should be an expansion, which means we can expect a big move soon.

Index had a strong support zone inside 20300-20450. A close below this range would be a signal of deeper correction in the index. Although, Bank Nifty is making a trading range inside 20450-21050.  We do not have any new trades for swing traders but we may get to see new trading opportunity beyond this range.

However, we may get to see a breakout from narrow range tomorrow; so intraday traders can look to take an ORB trade in either side for intraday only. Wait till 9.30 AM. Then buy above the high or sell below the low of the first 15 minutes.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE
TITAN 438 BUY Intermediate trend is up in TITAN. The stock has seen a sharp upside rally and the saw a minor correction. Prices are trading very narrow suggests a big move is ahead. Buy this stock above 439. If this trade executes then place your stop just below 435 and a target near 448.
UBL 775 SELL Intermediate and short term trend is down in UBL. The stock has seen a breakdown from a trading range and closes lower. We may see a decline here. Sell this stock below 775. If this trade executes then place your stop just above 785 and a target near 755.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
BATAINDIA MAR FUT BUY 511 CMP 504 518-523 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI   Stocks Price Price% OI % OI
KTKBANK.17.03 Mar 138.65 7.11 7.48 31579750 HINDPETRO.17.03 Mar 516.75 -3.93 7.95 18769800
KSCL.17.03 Mar 499.7 6.83 13.49 3067500 GRASIM.17.03 Mar 986.1 -3.43 76.3 9266250
RCOM.17.03 Mar 39.1 6.11 4.67 1.07E+08 BPCL.17.03 Mar 670.15 -3.1 18.33 12153600
BHEL.17.03 Mar 162.75 5.99 13.49 25950000 ABIRLANUVO.17.03 Mar 1447 -2.52 1.44 2599200
FEDERALBNK.17.03 Mar 88.05 5.2 14.24 68563000 TECHM.17.03 Mar 492.9 -1.96 88.18 15446200
                                                                           Short covering                                                                               Long Unwinding
ENGINERSIN.17.03 Mar 1.93 -0.98 21819000 150.65 NIFTYMID50.17.03 Mar 4010 -5.62 -50 200
SAIL.17.03 Mar 1.32 -0.12 48888000 61.45 WOCKPHARMA.17.03 Mar 755.15 -1.15 -5.15 3843600
PAGEIND.17.03 Mar 1.08 -1.72 31400 14400 TATAELXSI.17.03 Mar 1509.95 -0.39 -1.12 1054800
TITAN.17.03 Mar 0.63 -0.39 6559500 439.75 NIFTYCPSE.17.03 Mar 2594.9 0 -4.37 87500
HEXAWARE.17.03 Mar 0.25 -0.62 4338000 223.5

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Vol Delivery Del % % Change
Sectors Price Change % Quantity
HDFC Ltd. 1370.05 -0.41 2318175 2398787 85   Nifty 50 8879.6 -0.19 81324
IndusInd Bank Ltd. 1312.6 -0.51 704053 1587689 82.72 Nifty Bank 20607.25 -0.03 81321
NTPC Limited 162.95 -1.48 14041822 6005813 81.43 Nifty IT 10680.95 -0.24 81321
Kotak Mahindra Bank Limi 802.1 0.2 972189 1928829 80.99   INDIA VIX 13.79 0.82 81321
COALINDIA 321.9 -2.44 5247380 4443580 79.08   Nifty Pharma 10585.15 0.13 81321
GAIL (India) Limited 516.9 0.31 2127130 3597602 78.82   Nifty Realty 197.2 1.21 81321
Mah & Mah Ltd. 1312.15 1.41 675015 585579 78.33   Nifty Infrastructure 2997.85 0.75 81321
Dabur India Ltd. 276.9 1.54 1541960 1584713 77.18   Nifty Auto 9654.65 -0.13 81321
OIL 327.1 -0.34 541507 716853 76.51   Nifty Metal 3127.3 0.53 81321
Colgate Palmolive (India 900.25 1.17 561745 295375 74.9   Nifty Media 2996.35 0.91 81321

UPCOMING ECONOMIC DATA

                                      Domestic                                                                                                              
•Nikkei Manufacturing PMI (Feb) on  01st March, 2017.

•IIP Data (YoY) on 10th March, 2017.

CORPORATE NEWS

•Tata Steel’s Rs 542-crore ferro-chrome plant in Odisha has started production.

•Tata Power has announced a generation capacity increase of over 8 per cent in the third quarter of the current fiscal compared to the year-ago period.

• Larsen & Toubro has signed a five year-framework agreements with Shell Global Solutions International B.V., for providing engineering, procurement and construction management services for the latter’s projects in the Middle East, South East Asia and India.

•Hindalco Industries (HIL), the flagship company of Aditya Birla Group, has received the environment clearance for setting up of a new cast copper rod plant in Gujarat’s Bharuch district at a cost of Rs 240 crore.

Source: Economic Times, Business Standard

BOARD MEETINGS

Company Name Purpose Meeting Date Company Name Purpose Meeting Date
ZYDUSWELL Dividend 1-Mar-17 RUCHIRA Preferential issue 3-Mar-17
PHILIPCARB Dividend 1-Mar-17 MOTOGENFIN Others 3-Mar-17
MANDHANA Results 1-Mar-17 DIAPOWER Appointment 4-Mar-17
NATIONALUM Dividend 2-Mar-17 BLS Stock Split/Others 6-Mar-17
TATAMTRDVR Meeting Updates 2-Mar-17 TVSMOTOR Dividend 6-Mar-17
HARITASEAT Dividend 3-Mar-17 EMAMILTD Dividend 6-Mar-17
BRFL Board meeting Rescheduled 6-Mar-17

CORPORATE ACTION

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
HINDPETRO Interim Dividend – Rs. – 22.5000 1-Mar-17 VISHAL Right Issue of Equity Shares 2-Mar-17
MINDACORP Interim Dividend – Rs. – 0.2000 1-Mar-17 EIDPARRY Interim Dividend – Rs. – 4.0000 3-Mar-17
SUNDARMFIN Interim Dividend – Rs. – 5.0000 1-Mar-17 NAUKRI Interim Dividend – Rs. – 1.5000 3-Mar-17
AADHAARVEN Consolidation of Shares 2-Mar-17 ASHFL Bonus issue 1:1 7-Mar-17
HEXAWARE Interim Dividend – Rs. – 1.0000 2-Mar-17 CASTROLIND Special Dividend – Rs. – 2.0000 7-Mar-17
MODISNME Interim Dividend – Rs. – 1.0000 2-Mar-17 GAIL Bonus issue 1:3 9-Mar-17
ROHLTD Interim Dividend – Rs. – 1.0000 2-Mar-17 SOTL Interim Dividend – Rs. – 13.5000 9-Mar-17
SYMPHONY Interim Dividend – Rs. – 1.0000 2-Mar-17 VIAANINDUS Stock  Split From Rs.10/- to Rs.1/- 9-Mar-17
TECHNO Buy Back of Shares 2-Mar-17 BHAGYNAGAR Reduction of Capital 10-Mar-17

DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014

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