Stock Market Closing Report on 1 March 2021


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  • by Stocktry Expert
  • 01st Mar 2021

Stock Market Closing Report on 1 March 2021

NIFTY

MAX CALL OI : 15000

MAX PUT OI : 14500

PRICE RANGE : 14450 to 15000

50 DEMA : 14408

200 DEMA : 12234

TREND : Sideways to positive

OVERVIEW : The index is in the process of making higher top higher bottom formation and is currently near its 50 EMA, thus giving us a better risk reward ratio for the bulls. It formed a bullish harami pattern on daily chart which indicates rebound in the index. The support for the same is at 14400 then 14250 levels while on the upside the resistance is at the psychological 15000 levels. Index may continue to witness highly volatile sessions as india vix is trading around 26 levels thus giving opportunities for both the bulls and the bears so maintaining stop losses is very important in current scenario.

BANKNIFTY

MAX CALL OI : 37000

MAX PUT OI : 34500

PRICE RANGE : 34500 to 37000

50 DMA : 33405

200 DMA : 26807

TREND : Sideways to positive

OVERVIEW : BankNifty witnessed a relief rally after the profit booking seen in previous session. The liquidity played a major role in pulling index higher and reclaimed its 35000 zones. Index is trading in a wider range with high volatility thus giving opportunity to the bulls and bears both. Buy on declines and sell on rise strategy should be followed in the current scenario. The support for the same is at 34800 then 34500 levels while on the upside the resistance is at the psychological 36000 then 36500 levels.

STOCK OF THE DAY

  • EICHERMOTOR is consolidating after the strong profit booking of last 12 sessions and also surpassed its 2562 levels the immediate resistance of last five sessions.
  • RSI is indicating a reversal in the stock thus we might see it moving towards 2700 then 2750 levels. With buying being witnessed across the auto index a possibility of rise towards 2750 cannot be ruled out. On the downside support is at 2500 levels.
    • in Rs. Crores FII DII
    CURRENT PREVIOUS CURRENT PREVIOUS
    CASH 125 -8295 -195 1500
    GAINERS LOSERS
    MEDIA, AUTO, METAL, REALTY PSUBANK

    NEWS AND EVENTS

    • February AutoSales | Ashok Leyland total sales at 13,703 units.Total sales up 4.4% at 13,703 units Vs 13,126 units (MoM). Total exports up 7.4% at 927 units Vs 863 units (YoY).
    • Auto sales – Maruti Feb sales 1.64lakh unit, up 11.8% (YoY) while up 2% on MoM – expectation 1.66lakh unit
    • February AutoSales | M&M's total tractor sales at 28,146 units.Domestic sales up 24% YoY at 27,170 units.
    • February AutoSales | TVS Motor total sales at 2.98 lakh units.Motorcycle sales up 16% at 1.37 lk units Vs 1.18 lk units (YoY)
    • TATA MOTORS: FEB TOTAL SALES 58,470 UNITS VS 38,002 (YOY); 57,742 (MOM); EST 60,500
    • Bank credit set to grow 400-500 bps higher at 9-10% next fiscal: Crisil
    • Road Secretary says VehicleScrappagePolicy to be unveiled within a week; will release notifications on scrappage centres & incentives
    • RITES secures orders amounting to approximately Rs 93 cr
    • BPCL approves sale of Numaligarh Refinery share; to sell entire Numaligarh stake to OilIndia, EIL consortium for Rs 9,880 cr (From Agencies)
    • Feb Total GST mop-up at Rs 1.13 lk cr vs Rs 1.19 lk cr in Jan. GST collections have surpassed Rs 1 lk cr mark for the 5th month in a row
    • Reliance Jio’s new Jiophone offer provides for a device, free calling, and 2GB data per month. Thus expecting the launch of the ‘New Jiophone 2021 offer’ to accelerate subscriber addition for Mukesh Ambani’s telecom venture, but weaken the prospects of a tariff hike in the near term.
    • Tranport Minister nitin_gadkari says-
    • transport ministry has constructed 11,035 km of highways in FY21 so far
    • Highways ministry has achieved 33 km per day road construction in FY21 so far, Aim to reach 40 km per day highway construction in FY21

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