Stock Market Closing Report on 16 March 2021


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  • by Stocktry Expert
  • 16th Mar 2021

Stock Market Closing Report on 16 March 2021

NIFTY

MAX CALL OI : 16000

MAX PUT OI : 14500

PRICE RANGE : 14750 to 15250

50 DEMA : 14611

200 DEMA : 12461

TREND : Sideways

OVERVIEW : Index witnessed a lacklustre day as it witnessed swings on both side as it traded inside the range of previous session and closed on a flattish note. However, in the last part of the session it took support around 50 EMA on hourly chart so a possibility of opening on the green side may be seen but still bulls and bears both are at loggerheads to drag the index on either side. 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 14750 then 14500 while resistance is at 15250 levels.

BANKNIFTY

MAX CALL OI : 37000

MAX PUT OI : 34000

PRICE RANGE : 34800 to 36000

50 DMA : 34071

200 DMA : 27331

TREND : Sideways

OVERVIEW : BankNifty witnessed a strong selling pressure and played an important rule in dragging index lower. It formed a Marubozu candle on daily chart and closed at day’s low levels. It is indicating that we might witness a further selling pressure towards 34740 levels. The volatility index remained flat, thus, giving a sense of relief among the bulls but a possibility of further negative price action cannot be ruled out. The support for the same is at 34500 levels while on the upside the resistance is at the psychological 35500 then 35800 levels.

STOCK OF THE DAY

  • HINDUNILVR is moving after long consolidation after taking support at the rising support trend line and is set for astrong positive move towards 2300 levels may be seen.
  • The stock took support around its 50 DMA and is expected to head towards 2300 then 2350 and higher levels. Every decline is a buying opportunity in the stock and RSI is also trading in the bullish zone.
    • in Rs. Crores FII DII
    CURRENT PREVIOUS CURRENT PREVIOUS
    CASH 1692 -1101 -1169 -750
    GAINERS LOSERS
    IT, FMCG, CONSUMPTION, AUTO PHARMA, REALTY, BANKING, METAL

    NEWS AND EVENTS

    • IOC : Announces Rs 3 / share as interm Dividend
    • GMM PHAUDLER : Co. Acquires assets of HDO tech. for Rs 584 million.
    • This acquisition will enhance capacity and augment our capabilities in Heavy engineering. (POSSITIVE)
    • BHARAT FORGE : Kalyani Rafael Advanced system i.e Group Co. Kalyani group joint ventures with Rafael Advanced Defence systems rolls out First delivery of 1000 MRSM missile kits for Indian army & Air force (Positive)
    • BEML : Co. recieved Order worth $ 23 million from Bangladesh & Cameroon to supply construction equipments under make in India (Possitive)
    • LAXMI ORGANICS IPO DAY 2 : IPO Subscribed 6.05 times
    • Qualified Inst. : 1.15 Times
    • Non Retail : 2.48 Times
    • Retail: 6.05 times
    • KALYAN JWELLERS IPO DAY 1 : IPO subscribed 60 %
    • Qualified Inst. :0 times
    • Non Retail : 0.20 times
    • Retail : 1.10 timesCRAFTSMAN IPO DAY 2 : IPO subscribed 1.26 times
    • Qualified Inst. :0.56 times
    • Non Retail : 0.19 times
    • Retail : 2.11 times

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