Stock Market Closing Report on 5 March 2021


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  • by Stocktry Expert
  • 05th Mar 2021

Stock Market Closing Report on 5 March 2021

NIFTY

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.

BANKNIFTY

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

  • KOTAKBANK has surpassed its previous resistance of 1910 levels, thus giving a perfect example of resistance becoming support and is now set for a positive price action towards 1980 levels.
  • The stock is witnessing huge volumes increase and is performing in spite of selling seen across the board thus a possibility of rise towards 1980 levels is seen with support being intact at 1900 and 1880 levels.
    • in Rs. Crores FII DII
    CURRENT PREVIOUS CURRENT PREVIOUS
    CASH -2014 -223 -1191 -788
    GAINERS LOSERS
    ------- 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

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