Nifty has barely moved in the past eight days
MARKET OUTLOOK – 07 Mar, 2017
NIFTY: The Nifty has barely moved in the past eight days. This is neither bearish nor bullish. It suggests that market is in a contraction. This narrow range move will eventually come to an end with a break above 8980 or below 8860.
Prices bounced back from support and rallied towards 8900. Due to last half an hour recovery and the fact that index closed at the highs made today’s price action slightly bullish. On the daily charts, the index traded in a range of just 42 points which made another NR 7 (2nd in last four trading days).
Follow through on Monday may provide a directional move which we are seeking from last few days now.
We do not know in which direction the break out will be but momentum will pick up once again only when Nifty breaks out of this range of 120 points. Traders should wait patiently for a sustained breakout out of this range before making large directional bets.
BANK NIFTY: Bank Nifty traded very choppy and narrow. The index closes at 20507 with a loss of just 35 points. Today price traded inside a range of just 157 points.
The index is trading inside 20400 – 21100 from last two weeks. Today the index traded near the lower level of this range and closes there.
Banking sector is underperforming the Nifty. This trading range has given us a trading opportunity in the index.
Buy if Bank Nifty breaks above 21100; OR; Sell if a price breaks below 20400.
If index opens beyond this range then apply the 15 min rule. Take one trade only whichever executes first and stops in either case would come at 20750.
|ABIRLANUVO||1482||BUY||Intermediate trend is up in ABIRLANUVO. The stock has seen a minor correction. That correction seems over now as price find support near 1440 and closes higher. Buy this stock above 1485. If this trade executes then place your stop just below 1465 and a target near 1525.|
|ARVIND||388||BUY||Intermediate and short term trend is up in ARVIND. The stock has seen an upside rally and then started trading range bound. Prices have seen a breakout today. Buy this stock above 389. If this trade executes then place your stop just below 385 and a target near 397.|
|Stock Name||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|GRASIM||MAR FUT||BUY||1026.95||BET(1015-1016)||1000||1050||OI Increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|BIOCON.17.03 Mar||1077.95||4.09||2.44||3146400||APOLLOHOSP.17.03 Mar||1249.6||-5.21||36.85||1028000|
|GAIL.17.03 Mar||515.75||3.61||15.05||16969500||JISLJALEQS.17.03 Mar||90.25||-2.59||4.25||40203000|
|SINTEX.17.03 Mar||98.1||3.54||12.06||37612875||BOSCHLTD.17.03 Mar||21281.7||-1.98||3.84||89875|
|ABIRLANUVO.17.03 Mar||1494.6||3.36||3.82||2554000||NCC.17.03 Mar||79.95||-1.6||4.5||30080000|
|SUNTV.17.03 Mar||726.7||2.53||4.62||8056000||EICHERMOT.17.03 Mar||23186.3||-1.51||1.49||200975|
|Short covering||Long Unwinding|
|INFRATEL.17.03 Mar||6.08||-9.57||9875200||308.7||HDFC.17.03 Mar||1376.1||-1.69||-1.67||11010500|
|HINDALCO.17.03 Mar||4.3||-5.18||47250000||198.95||AMBUJACEM.17.03 Mar||225.6||-1.38||-1.81||11520000|
|JUSTDIAL.17.03 Mar||3.56||-2.25||2395200||538.55||ITC.17.03 Mar||262.75||-1.24||-0.15||50030400|
|GMRINFRA.17.03 Mar||3.13||-0.36||1.89E+08||16.45||ASIANPAINT.17.03 Mar||1019.2||-1.16||-3.62||4397400|
|GRASIM.17.03 Mar||3.13||-0.34||6526500||1026.95||PAGEIND.17.03 Mar||14306.25||-0.72||-0.95||25950|
TOP DELIVERY PERCENTAGE
|Stocks||Price||%Chg||Vol||Delivery||Del %||% Change|
|Kotak Mahindra Bank Limi||809.5||-0.81||1317035||3755391||84.29||Nifty 50||8897.55||-0.02||24725947|
|NTPC Limited||156.1||0.1||8147364||11265337||82.49||Nifty Bank||20495.6||-0.31||10711492|
|TECH MAHINDRA LIMITED||503.7||0.76||2136886||1934418||80.86||Nifty IT||10806.2||0.6||769968|
|Godrej Cons Products Ltd||1600.3||-0.49||257911||661453||79.81||INDIA VIX||13.35||-0.07||1.64E+08|
|Lupin Limited||1476.1||1.04||465086||1179044||75.63||Nifty Pharma||10614.05||0.69||20755455|
|HDFC Ltd.||1371.2||-1.99||1137208||1994293||74.64||Nifty Realty||198.2||1.02||1.11E+09|
|GAIL (India) Limited||520.25||3.72||6031027||2426424||74.61||Nifty Infrastructure||2965.55||0.42||74247633|
|Power Grid Corporation o||190.85||0.58||4755417||4450868||74.44||Nifty Auto||9680.5||-0.26||22689394|
|Container Corp of India||1233.45||0.46||177274||250269||73.46||Nifty Metal||3187.1||0.66||69132991|
|Cipla Ltd||588.6||-0.11||759454||1153937||73.42||Nifty Commodities||3407||0.52||17505913|
UPCOMING ECONOMIC DATA
|•IIP Data (YoY) on 10th March, 2017.
•WPI Data on (Feb) YoY on 14th March , 2017.
|•Larsen & Toubro has bagged orders worth Rs 2,170 crore for construction jobs from various sectors. The orders include Rs 1169 crores jobs from the power transmission and distribution sector. L&T picked up these jobs in Oman and in the domestic market from the West Bengal State Electricity Distribution Compan
•GAIL (India) Ltd has signed a time-swap deal with Swiss trader Gunvor to sell some of its U.S. liquefied natural gas (LNG), sources said, as the Indian firm tries to ease the burden of its costly foreign LNG supplies.
•Assam chief minister Sarbanada Sonowal has asked NTPC to prepare a detailed project report (DPR) for the proposed 1600 MW thermal power project at Margherita in Upper Assam.
•Coal India registered a healthy 6.5 per cent growth in coal production to clock 54.30 million tonnes in February, this year compared to 50.98 million tonnes achieved in the corresponding period, last year. Source: Economic Times, Business Standard
|Company Name||Purpose||Meeting Date||Company Name||Purpose||Meeting Date|
|NET4||Board Meeting Adjourned||6-Mar-17||HEROMOTOCO||Dividend||7-Mar-17|
|BRFL||Board meeting Rescheduled||6-Mar-17||AMBICAAGAR||Preferential issue||8-Mar-17|
|DCBBANK||Issue of Securities||7-Mar-17||MOTOGENFIN||Others||9-Mar-17|
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|ASHFL||Bonus issue 1:1||7-Mar-17||ZYDUSWELL||Interim Dividend – Rs. – 6.5000||9-Mar-17|
|CASTROLIND||Special Dividend – Rs. – 2.0000||7-Mar-17||BHAGYNAGAR||Reduction of Capital||10-Mar-17|
|TEJNAKSH||Bonus issue 1:1||8-Mar-17||BHAGYNAGAR||Spin Off||10-Mar-17|
|GAIL||Bonus issue 1:3||9-Mar-17||MIENT||Bonus issue 1:1||10-Mar-17|
|KINGFA||Right Issue of Equity Shares||9-Mar-17||DICIND||Dividend – Rs. – 4.0000||14-Mar-17|
|NATIONALUM||Interim Dividend – Rs. – 2.8000||9-Mar-17||VGUARD||Bonus issue 2:5||15-Mar-17|
|PHILIPCARB||Interim Dividend – Rs. – 6.0000||9-Mar-17||ACC||Dividend – Rs. – 6.0000||16-Mar-17|
|SOTL||Interim Dividend – Rs. – 13.5000||9-Mar-17||AMBUJACEM||Final Dividend – Rs. – 1.2000||16-Mar-17|
|VIAANINDUS||Stock Split From Rs.10/- to Rs.1/-||9-Mar-17||CRISIL||Dividend – Rs. – 9.0000||21-Mar-17|
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