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© Sumpoorna 2017
Daily Technical Roundup MARCH ‘22TH 2019
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Market Commentary
FII & DII Activity
FII (Cash) in Cr +1771.61
DII (Cash) in Cr -1323.17
FII (Index Futures) in Cr +51.07
FII (Index Options) in Cr +2804.19
FII (Stock Futures) in Cr -1148.32
FII (Stock Options) in Cr +22.67
Benchmark indices ended mixed after they remained range bound throughout Wednesday.
The Sensex was up 23.28 points at 38386.75, while Nifty was down 11.40 points at 11521. About 1104 shares have advanced, 1532 shares declined, and 173 shares are unchanged.
Indiabulls Housing, Hindalco Industries, Infosys, Dr Reddy’s Labs and Wipro were among major gainers, while losers include HPCL, Zee Entertainment, BPCL, NTPC and ONGC on the Nifty.
Except bank, pharma and IT all other sectoral indices are ended in red led by auto, metal, energy, FMCG and infra.
USDINR closed at 68.8200(-0.21%).
Brent Crude is at 67.64$.
In the morning, The Shanghai Composite (-0.47%) Nekkei225 (-0.19%) and the Hang Seng(+0.26%) are showing mixed cues . SGX NIFTY appeared flat (-0.02%)
Tata Steel BSL: Committee of Directors approved allotment of 420 crore - 11.09% non-convertible redeemable preference shares having face value of Rs 10 each for cash aggregating to Rs 4,200 crore to Tata Steel Limited (NCRPS Series II) on private placement basis.
Zee Entertainment Enterprises: Company has redeemed 39,49,105 Series B Unlisted Preference Shares at Rs 10 per share and has paid pro-rata dividend for the period until March 20.
Sun TV Network: Board appointed R Mahesh Kumar as an Additional Director as well as Managing Director; Kaviya Kalanithi Maran as an Additional Director and Executive Director; Sridhar Venkatesh and Desmond Hemanth Theodore as an Additional Directors (Independent). K Vijaykumar resigned from the post of Managing Director and Chief Executive Officer.
IDFC First Bank: Bank sold the entire stake of 2,71,97,743 equity shares comprising approximately 8.37 percent of the share capital of Asset Reconstruction Company (India) Limited [Arcil].
Put-Call Ratio's
Index Options 0.78
Stock Options 0.46
F&O Total 0.76
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Daily Technical Roundup MARCH ‘22TH 2019
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Nifty Outlook
Outlook: Nifty is expected to trade initially in a range 11475 to11575 initially, support 11400 Resistance 11610-660 NSE Overall Advance & Decline
- Advances 690
- Declines 1153
- Unchanged 96
Change in Open Interest (MAR)
- Nifty -7.93lakhsShare (-3.73%)
- Bank Nifty -1.96 Shares (-7.42%)
Nifty PE 28.10
India VIX 16.0325(-2.79%)
Nifty made small red candle after indicating inability to sustain in highly over bought region.
A decisive negative confirmation may trigger a short term profit booking. The initial range of the index seems to be 11475 to 11575. Above this range
momentum may surge the index towards 11610 and next 11660. Inability to cross 11575 may drag the index down.
Below 11475 support seems at 11400. Major support seems around 11240-11200. Oscillators are showing highly
over bought zone and traders are suggested to stay cautious at higher levels. Medium term support and trend decider is at 10970. 50 weeks moving
average is 10888
Chart (Daily): 11521
High 11556
Low 11503 Resistance Levels
- R1 11575
- R2 11610
- R3 11660 Support Levels
- S1 11475
- S2 11400
- S3 11240
NIFTY - BANK Outlook
Outlook: Nifty Bank is expected to trade initially in the range 29600 to 30000; Resistances 30100 Support 29200
Bank Nifty Overall Advance & Decline
- Advances 6
- Declines 6
- Unchanged 0
Bank Nifty Open Interest
-1.96 Shares (-7.42%)
Nifty bank opened with an upside gap and closed with an indecisive
hanging man type candle.
Nifty bank has continuous three indecisive small candles indicating
inability to maintain momentum at highly over bought region.
A negative confirmation would trigger short term corrective fall.
The initial range may be 29600 to 30000.
Resistance seems at 30100 and 30500.
Oscillators are suggesting highly over bought zone and hence
sustaining at higher levels seems difficult.
Below 29600 support seems at 29200 and 29000. 50 SMA is at
17400 while 200 SMA is at 26765.
Traders should stay cautious at higher levels.
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Daily Technical Roundup MARCH ‘22TH 2019
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Bank Nifty Chart (Daily):29832
High 29885
Low 29633
Resistance Levels
- R1 30000
- R2 30100
- R3 30500
Support Levels
- S1 29600
- S2 29200
- S3 29000
Stock Watch
Trends 1 2 3 4 5
Fresh Longs BHEL DLF IDEA OBC TVSMOTORS
Fresh Shorts COALINDIA IOC NTPC ONGC NHPC
Short Coverings NALCO BERGPNT ESCORTS NCC PCJEWLERS
Long Unwinding NMDC AMARAJABAT GAIL MGL JUSTDIAL
STOCK PICKS TECHM
Recommendation SELl
Current Price 789.90
Current Price (Date) 20th Mar 2019
Transaction Price Range
Below 780
Target 755-735
Stop Loss 800
200DMA 717.41
Segment Cash
52-week High (Rs.) 840.10
`52-week low (Rs.) 603.00
Market Cap (Rs. Cr) 77673.85
TECHM has a HNS type pattern and breakdown is expected below 870.
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Daily Technical Roundup MARCH ‘22TH 2019
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M&M
Recommendation SELL
Current Price 679.40
Current Price (Date) 20TH Mar’2019
Transaction Price Range
BELOW 672
Target 660-654
Stop Loss 681
200DMA 660
Segment Cash
52-week High (Rs.) 992
52-week Low (Rs.) 615.75
Market Cap (Rs. Cr) 84668.14
M&M has prepared a HNS pattern and neckline breakdown is expected below 672 for target 660-654.
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Daily Technical Roundup MARCH ‘22TH 2019
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Source: Sumpoorna Research, NSE, BSE, SEBI,
and other publically available documents.
Document prepared by:
Nitesh Aggarwala & Sunil Koul
For further information, please
contact: Sumpoorna Global Markets &
Economics Research
Phone: +91 120 4505200
email:
url: www.sumpoornaonline.com
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