Stock Market Closing Report on 10 March 2021


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  • by Stocktry Expert
  • 10th Mar 2021

Stock Market Closing Report on 10 March 2021

NIFTY

MAX CALL OI : 16500

MAX PUT OI : 14000

PRICE RANGE : 14800 to 15500

50 DEMA : 14567

200 DEMA : 12398

TREND : Sideways to positive

OVERVIEW : Nifty started the day on very high note but remained lacklustre for most part of the session as the volatility index cooled down and drifted towards 20.75 levels. It is forming an inverted head and shoulder on hourly chart and thus to complete the pattern it has to move above 15200 then 15300 levels, while support is at 15000 levels. Index has been giving opportunities for both the bulls and the bears so maintaining stop losses is very important in current scenario. The support is at 15000 then 14800 while resistance is at 15300 levels.

BANKNIFTY

MAX CALL OI : 36000

MAX PUT OI : 35000

PRICE RANGE : 35800 to 36500

50 DMA : 33965

200 DMA : 27276

TREND : Sideways to positive

OVERVIEW : BankNifty traded in line with the Nifty index as after opening on a very strong note remained subdued and ended the session with the minor gains of around 80 points. Index is all set to break the barrier of 36000 levels on closing basis and head towards 36500 while support being intact at 35800 levels. A cool down in volatility index supported the bulls to move above 36000 zones. The support for the same is at 35800 then 35500 levels while on the upside the resistance is at the psychological 36500 levels.

STOCK OF THE DAY

  • GODREJCP is all set tosurpass the falling supply trend line after a long consolidation of last seven weeks and is now all set to perform under the dominance of the bulls.
  • The stock witnessed built up of long position and now set to surpass its 700 levels and move towards 750 zones. It is also taking support at the trend line connecting the previous lows made in November and August. Thus, a possibility of rise towards 750 levels is seen with support being seen at 678 levels.
    • in Rs. Crores FII DII
    CURRENT PREVIOUS CURRENT PREVIOUS
    CASH -15.69 2802 447.67 1250
    GAINERS LOSERS
    BANKING, FMCG, IT, AUTO, METAL, PHARMA ENERGY, PSUBANK

    NEWS AND EVENTS

    • BPCL : Board To consider Interim Dividend on 16 March.
    • STERLITE TECH , ITI : .@DoT_India amends license conditions, Govt will have power to impose conditions for telecom equipment procurement on grounds of defence, national security.
    • EaseMyTrip.com IPO subscribed 159 times:

    • Qualified Inst.: 77.53 times
    • Non Retail: 382.21 times
    • Retail: 70.40 times
    • KALYAN JWELLERS IPO : Kalyan Jewellers IPO to open from 16-18 March 2021
    • HDFC LIFE , SBI LIFE , ICICI PRU ; Cabinet approves amendment to the insurance act paving the way for 74% FDI limit says Sources.
    • Do note : FM already announced this FDI limit in Budget 21 (Possitive)
    • SUN PHARMA : Sun Pharma's arm acquires 12.5% stake in WRS Bioproducts for AUD 2 million.
    • HEG & GRAPHITE : Graphite Electrode Producers are in the process of revising price contracts; prices may be revised 15-20% higher: Sources (Posstive).
    • COAL INDIA : Coal Minister says No Proposal for Privatisation in Coal India (Negative).
    • DR REDDY : Expert commitee will Review Tomorrow Dr Reddys Sputnik Vaccine says sources
    • IDBI BANK : IDBI Bank taken out of Prompt Corrective Action
    • (PCA) framework subject to conditions, continuous monitoring
    • Board for Financial Supervision (BFS) finds IDBI Bank not in breach of PCA parameters on capital, Net NPA and Leverage Ratio (Possitive)

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