Stock Market Closing Report on 2 March 2021


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  • by Stocktry Expert
  • 02nd Mar 2021

Stock Market Closing Report on 2 March 2021

NIFTY

MAX CALL OI : 15200

MAX PUT OI : 14800

PRICE RANGE : 14800 to 15200

50 DEMA : 14425

200 DEMA : 12260

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 a better risk reward ratio for the bulls. It formed a doji candle on daily chart after forming bullish harami which indicates rebound in the index. The support for the same is at 14800 then 14400 levels while on the upside the resistance is at the psychological 15000 levels then 15200 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 : 36000

MAX PUT OI : 35000

PRICE RANGE : 35200 to 36150

50 DMA : 33484

200 DMA : 26893

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. The index also formed a doji candle thus we might see the rebound in the same till 36000 zones.

STOCK OF THE DAY

  • INDIABULL HOUSING FINANCE has surpassed Its falling supply trend line after consolidating in a range of 214 to 225 for 6 trading sessions and is giving signs to pull back towards 250 levels.
  • RSI is indicating a reversal in the stock thus we might see it moving towards 250 then 275 levels. With buying being witnessed across the financial index a possibility of rise towards 250 cannot be ruled out. On the downside support is at 224 levels.
    • in Rs. Crores FII DII
    CURRENT PREVIOUS CURRENT PREVIOUS
    CASH 125 -8295 -195 1500
    GAINERS LOSERS
    IT, MEDIA, AUTO, METAL, REALTY PSUBANK

    NEWS AND EVENTS

    • PVC Pipes: Price Hike | PVC pipe prices have been hiked by Rs 6/kg, or by 4.9% according to an ICICI Sec report. Remember, this would be the third price hike in Q4FY21
    • WSJ: CHINA INCREASES PAPER PRICES
    • Karsanbhai Patel of Nirma Ltd to make a come back in IPO Market. Plans to List Nirma Cement with IPO of Rs 5000 Crs.
    • We will encourage private investment in port sector, says Prime Minister Narendra Modi at Maritime Summit
    • AUTO : Union Minister Nitin Gadkari agrees to examine request for deferment of CAFE norms.
    • Gadakri said that if auto sector is adhering to stringent emission standards for exports then same standards must be followed in India.
    • Telecom Secretary: Bharti Airtel acquired spectrum worth 18,699 crs
    • Jio acquired 4,488Mhz Spectrum worth Rs 57,122 crs
    • VodafoneIdea has acquired 11.8 MHz spectrum worth 1993 crs
    • : #Update On #SpectrumAuction:-
    • Percentage of spectrum Sold
    • 800 - 65.22% of spectrum sold
    • 900 - 38 87%
    • 1800 - 42.87
    • 2100 - 8.57%
    • 2300 - 89.29%
    • Spectrum Usage Charge levied on the spectrum sold will be 3%
    • If you exclude 700, 2500 MHz spectrum, 60% of total #spectrum is sold

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