Stock Market Closing Report on 23 March 2021
MAX CALL OI : 15000
MAX PUT OI : 14500
PRICE RANGE : 14500 to 14950
50 DEMA : 14631
200 DEMA : 12581
TREND : Volatile
OVERVIEW : Nifty opened on a very strong note but as the day progressed it witnessed volatile swings as bulls and bears both made their share of attempts to drag the index on either side. It surpassed the high of previous session and managed to close above 14800 levels, forming a DOJI on daily chart. It has formed a flag and pole pattern on hourly chart which indicates that we might witness a bounce till 15000 levels but market being highly volatile traders should trade cautiously. The bears and bulls are at tug of war and traders are requested to take hedged positions and trade cautiously. The support is at 14500 then 14350 levels while the bulls might be at relief only if the index manages to move above 14950 levels.
MAX CALL OI : 36000
MAX PUT OI : 33500
PRICE RANGE : 33800 to 34500
50 DMA : 34082
200 DMA : 27668
TREND : Volatile
OVERVIEW : Banknifty has been trading in a range since last three trading sessions around the support levels. It has been making lower top lower bottom formation since last 6 weeks and this being the expiry week taking cautious trades is very important. It was the leader of the pack in pulling the index higher and is again trading above its 34000 levels. The support is at 33800 zones which is at its rising support trend line, while on the upside we might see relief only above 34800 zones.
STOCK OF THE DAY
- AXISBANK has been in a consolidating since last three sessions and is now set to give a breakout on the upside towards 755 and higher levels. It managed to hold its positive stance and has taken strong support around its 50 DMA.
- •It took support around its multiple support of 700 levels and is now all set to head towards 755 and 780 levels .
|in Rs. Crores||FII||DII|
|FMCG, BANKING, REALTY, PHARMA, IT||METAL, MEDIA, FMCG|
NEWS AND EVENTS
- RVNL : .DIPAM Says Offer for Sale in RVNL opens tomorrow for Non Retail investors. Retail investors can bid on Thursday. Govt would divest 10% equity with a 5% Green Shoe option. (negative)
- BANKS : Former SBI boss Rajnish Kumar saysSC verdict ends uncertainty on actual NPAs in the system Govt should pay for extension of interest on interest waiver to all borrowers
- BANKS : With SC lifting the stay on #NPA classification, banks expected to report additional gross NPA of Rs 1.3 lakh cr in the March quarter. ICRA Research shows that additional interest on interest would be over Rs 7,000-7,500 cr. says REPORT
- IDBI BANK : IDBI Bank: On March 26, to consider #Rupee #Bond borrowings limit of Rs 8,000 cr for FY22
- ITC & GODFREY PHILIPS : Trade association appeals Not to Increase Gst in tabacco products ( possitive)
- BHARTI AIRTEL : Bharti Airtel Africa sells 2 telcome tower to Hellios twrs for $10.8 cr