Stock Market Closing Report on 24 March 2021
MAX CALL OI : 15000
MAX PUT OI : 14000
PRICE RANGE : 14350 to 14850
50 DEMA : 14628
200 DEMA : 12600
TREND : Volatile
OVERVIEW : Nifty opened on a very weak 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 failed to surpass the high of previous session and closed below 14600 levels, forming a marubozu on daily chart. It has given a breakdown from the support trend line which indicates that we might witness a fall till 14350 levels but market being highly volatile traders should trade cautiously. The bears are at upper hand compared to bulls and traders are requested to take hedged positions and trade cautiously. The support is at 14450 then 14350 levels while the bulls might be at relief only if the index manages to move above 14950 levels.
MAX CALL OI : 34000
MAX PUT OI : 33000
PRICE RANGE : 32800 to 33800
50 DMA : 34051
200 DMA : 27724
TREND : Volatile
OVERVIEW : Banknifty broke the trading in a range of last three trading sessions and fell below its support trend line. 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 dragging the index lower and is again trading below its 33500 levels. The support is at 33000 then 32800 zones, while on the upside we might see relief only above 34800 zones. India vix jumped by around 8.5% thus giving us clear indication of highly volatile swings and also bulls might be under pressure.
STOCK OF THE DAY
- BIOCON has been in a consolidating since last seven weeks and is now set to give a breakout on the upside towards 420 then 450 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 380 levels and is now all set to head towards 420 and 450 levels .
|in Rs. Crores||FII||DII|
|PHARMA||METAL, MEDIA, FMCG, BANKING, REALTY|
NEWS AND EVENTS
- DR REDDY : Kirill Dmitriev, RDIF: Our partners have submitted data to Indian regulators, from both Russian trial & Indian; expect swift deliveries of SputnikV vaccine in India in April post approval.
- VAKRANGEE : Co. partners with Transunion CBIL , India Largest Credit Information with one of the country s most comprehensive collection of consumer Information
- TVS MOTORS: Announced Rs 1.40 per share as Interim Dividend.. Record date 9 April
- Railway stock : Railways registers 70% loss in passenger earnings
- ADANI ENT : Gets Project worth Rs 1040 cr From NHAI
- CADILA : CADILA launches Remdesiver At Rs 899
- BERGER PAINTS : Co. says Plans to expand biz , will invest Rs 700 cr in Lucknow Plant.
- INDIA GOVT OFFICIAL: SAYS NO EVIDENCE OF NEW SYMPTOMS EMERGING DUE TO NEW COVID STRAINS
- ASTRAZENECA PHARMA: INDIA GOVT OFFICIAL SAYS NO RISK OF BLOOD CLOTTING-RELATED COMPLICATION WITH ASTRAZENECA VACCINE.
- ESCORTS: CO SHALL BE INCREASING THE PRICES OF ITS TRACTORS EFFECTIVE 1ST APRIL 2021.
- IRCON INTERNATIONAL: CO IS IN TALKS WITH MALAYSIA TO EXECUTE A $1-BILLION RAILWAY PROJECT: MONEY CONTROL.
- NOT GOING TO REDUCE FILM THEATRES OCCUPANCY SAYS TELANGANA GOVT CINEMATOGRAPHY MINISTER TALASANI SRINIVAS YADAV, PRESENT 100% OCCUPANCY WILL CONTINUE FURTHER.
- ADANI ENTERPRISES: CO WINS AN ORDER FROM NHAI WORTH 10.4B RUPEES
- Lockdown to be imposed in Beed district of Maharashtra from 26th March to 4th April.
- Sources: ANI