Stock Market Closing Report on 5 March 2021
MAX CALL OI : 15500
MAX PUT OI : 14000
PRICE RANGE : 14500 to 15250
50 DEMA : 14502
200 DEMA : 12336
TREND : Sideways
OVERVIEW : The index opened with a huge gap of around 100 points but however managed to rebound from the same and headed towards 15100 levels. It has been forming a flag and pole pattern on hourly scale which will confirmed if the index manages to move and close above 15050 levels. Index may continue to witness highly volatile sessions as indiavix is trading around 25.5 levels thus giving opportunities for both the bulls and the bears so maintaining stop losses is very important in current scenario. The support is at 14800 then 14500 while resistance is at 15050 then 15250 levels.
MAX CALL OI : 36000
MAX PUT OI : 34000
PRICE RANGE : 35000 to 36000
50 DMA : 33744
200 DMA : 27119
TREND : Sideways
OVERVIEW : BankNifty underperformed the nifty index and witnessed much sharper fall compared of about 1.60% on friday. Index is near the support of 35000 levels thus a possibility of pull back towards35800-36000 cannot be ruled out. Buy on declines and sell on rise strategy should be followed in the current scenario. The support for the same is at 35000 then 34800 levels while on the upside the resistance is at the psychological 36000 levels.
STOCK OF THE DAY
|in Rs. Crores||FII||DII|
|-------||MEDIA, REALTY, BANKING, AUTO, METAL, FINANCE|
NEWS AND EVENTS
- ON BONUS SHARES : Allotment of bonus shares is not taxable as income from other sources says Karnataka High Court. This is Because when a company allots bonus shares , it doesn't result any change in the capital structure of the company. Also when shareholder recieves bonus Share , the value of the original share that it holds reduces pro-rata .
- BPCL : Fm says BPCL & AIR INDIA Divestment process going in Right way
- ON INDIAN ECONOMY : India Fin Min Says Can't Say Exactly When Economy Will Be Back To Pre-covid Growth Levels Ii India Fin Min Also Says Some Industries Running At Full Capacity While Others Still To Get There.
- Crude hits 2-year high on OPEC, allies' decision. OPEC+ made the unexpected decision to not increase production in April. Crude prices are up 34% in 2021 . WallStreet bets on higher crude oil prices on strong demand estimates
- Kotak Mahindra Bank signs MoU with the Indian Army for salary account, unique benefits designed exclusively for the Indian Army, the bank says
- Big News for PSU Banks - Canara Bank, SBI, PNB In Focus
- Agencies - Lenders CoC vote in Favor of JSW Steel for acquisition of Bhushan Power.
- SBI is the largest lender to Bhushan Power and stands to recover over Rs 4000 crore. , PNB Rs 4399 crore, Canara Bank Rs 2244 crore.
- Canara Bank Market Cap Rs 26500 cr, recovery from Bhushan would be 8% of Market cap and write backs likely in upcoming quarters which shall boost profits.
- PNB is the lead bank in the consortium as well
- JSW Steel to transfer proceeds to escrow account which is likely this mth
- *MTAR Technologies Ltd IPO Oversubscribed by 200 times*
- Company collected 84,000 Crore against IPO requirement of 417 Crore
- Allotment Chances: 5 / 100 in Retail Category