MARKET OUTLOOK – 07 Mar, 2017

market Research analysis

NIFTYThe 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 NIFTYBank 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.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE
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.

DERIVATIVE PICKS

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
Sectors Price Change % Quantity
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

                                      Domestic
•IIP Data (YoY) on 10th March, 2017.

•WPI Data on (Feb) YoY on 14th March , 2017.

CORPORATE NEWS

•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

BOARD MEETINGS

Company Name Purpose Meeting Date Company Name Purpose Meeting Date
BLS Stock Split/Others 6-Mar-17 NMDC Dividend 7-Mar-17
TVSMOTOR Dividend 6-Mar-17 KELLTONTEC Others 7-Mar-17
NET4 Board Meeting Adjourned 6-Mar-17 HEROMOTOCO Dividend 7-Mar-17
EMAMILTD Dividend 6-Mar-17 CADILAHC Dividend 7-Mar-17
BRFL Board meeting Rescheduled 6-Mar-17 AMBICAAGAR Preferential issue 8-Mar-17
COALINDIA Dividend 6-Mar-17 GILLANDERS Others 9-Mar-17
DCBBANK Issue of Securities 7-Mar-17 MOTOGENFIN Others 9-Mar-17

CORPORATE ACTION

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

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

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