• by Stocktry Expert
• 25th Mar 2021

Stock Market Closing Report on 25 March 2021

NIFTY

MAX CALL OI : 15000

MAX PUT OI : 14000

PRICE RANGE : 14000 to 14800

50 DEMA : 14616

200 DEMA : 12617

TREND : Sideways to negative

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 14350 levels, forming lower high lower lows on daily chart. It has given a breakdown from the support trend line which indicates that we might witness a fall till 14000 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 ahead of the result season. The support is at 14000 then 13800 levels while the bulls might be at relief only if the index manages to close above 14800 levels.

BANKNIFTY

MAX CALL OI : 34000

MAX PUT OI : 32000

PRICE RANGE : 32800 to 33800

50 DMA : 34010

200 DMA : 27767

TREND : Sideways to negative

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. Although it made an attempt tobounce back failed and closed around its 33000 zones. It was the leader of the pack in dragging the index lower and is again trading below its 33000 levels. The support is at 32800 then 32500 zones, while on the upside we might see relief only above 34800 zones. India vix jumped is around 22 levels thus giving us clear indication of highly volatile swings and also bulls might be under pressure.

STOCK OF THE DAY

• BHARTIARTL broke its support of 514 levels after consolidating for last two weeks and was under the dominance of bears even when market was witnessing buying interest.
• It failed to take support around its multiple support of 514 levels and is now all set to drift towards 480 and 450 levels .

NEWS AND EVENTS

• Hathway Cable: Promoter launches OFS to sell 19.1% stake; floor price at Rs 25.25/share OFS for non-retail investors on March 26 & for retail on March 30 (Negative).
• IDFC: Received a letter from Ministry of Finance informing about the withdrawal of the nomination of Anshuman Sharma & Soumyajit Ghosh as Nominee Directors from the Board of IDFC Limited with immediate effect.
• CG Power: Defers issuance of equity shares on preferential basis to Standard Chartered Bank.
• BPCL : #JustIn | @BPCLimited's extraordinary general meeting on Numaligarh stake sale concludes, the co has said results of the vote will be out in 48 hours
• STEEL STOCKS : Steel prices may increases by Rs 2000-3000 /ton says Report (Possitive)
• ADANI PORTS : CCI dismisses complaint alleging contravention of Competition Act provisions against Adani Ports
• COAL INDIA : coal Minister says next 10 years, India Energy demand will double
• KEC INTERNATIONAL: CONCOR ADDS KEC EXPORT CONATINER RAKE AT MIHAN
• RAMCO SYSTEMS: CO HAS SIGNED WITH A LEADING GLOBAL TECHNOLOGY COMPANY TO UNIFY AND TRANSFORM ITS PAYROLL OPERATIONS ACROSS JAPAN, CHINA, PHILIPPINES AND MALAYSIA
• MAX HEALTHCARE : Diagnostic cos have seen a strong surge in COVID testing in the past 10 days in Maharashtra. There is also a rise in COVID occupancies in hospitals. Abhay Soi, of Max Healthcare & Anand K, CEO at SRL Diagnostics join us to highlight the situation in the state