Stock Market Closing Report on 8 March 2021


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  • by Stocktry Expert
  • 08th Mar 2021

Stock Market Closing Report on 8 March 2021

NIFTY

MAX CALL OI : 15500

MAX PUT OI : 14500

PRICE RANGE : 14700 to 15200

50 DEMA : 14520

200 DEMA : 12343

TREND : Sideways

OVERVIEW : Nifty kick started the day under the dominance of the bulls and surpassed the previous sessions high, however it failed to sustain it and drifted below it's 15000 zones. It is forming an inverted head and shoulder on daily chart and thus to complete the pattern it has to head towards 15200 the 15300 levels, while support is at 14900 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 : 33804

200 DMA : 27102

TREND : Sideways

OVERVIEW : BankNifty traded in line with the Nifty index after a volatile session ended day on a flattish note. Index is near the support of 34800 levels thus a possibility of pull back towards 35800-36000 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

  • HDFCLIFE formed a candle similar to DOJI candle at the support levels and is forming a triangle on daily chart thus a possibility of breakout towards 750 then 780 cannot be ruled out.
  • The stock is witnessing huge volumes increase with huge built up of long position and is performing in spite instability in the broader market, thus a possibility of rise towards 750 levels is seen with support being intact at 718 and 715 levels.
    • in Rs. Crores FII DII
    CURRENT PREVIOUS CURRENT PREVIOUS
    CASH -1494 -2014 484 -1191
    GAINERS LOSERS
    BANKING, MEDIA, PHARMA, IT AUTO, FMCG, REALTY

    NEWS AND EVENTS

    • ON INFRA: Raamdeo Agrawal says Opportunity to invest in Infra companied now coming up and ON BANKS : Raamdeo Agrawal say Expect to see some stress on the corporate books for lenders to come down.
    • CADILA HEALTHCARE ; Renuka Ramnath-led homegrown private equity firm Multiples Alternate Asset Management and Canadian pension fund giant CPPIB (Canada Pension Plan Investment Board) have teamed up to emerge as the lead contenders to acquire Cadila Healthcare’s (also known as Zydus Cadila) animal healthcare business, people with knowledge of the development told Moneycontrol.
    • ALCHOL STOCKS : Maharashtra Govt. raises VAT on alcohol to 65 % from 60 % (Negative) while Karnataka Govt. Keeps liquor excise tax unchanged in budget 2021
    • GODREJ AGRO , PRABHAR DIARY , VENKYS : Govt may give Rs 50,000 cr special package to dairy , poultry & animal husbandaty sectors says sources (Possitive)
    • SBI CARDS : Board Meeting on 12 march for Rs 2000 cr fund raisng via NCD
    • TATA MOTORS : From PTI: Tata Motors shareholders approve hiving off passenger vehicle business into a separate entity
    • EASEMYTRIP.COM IPO
    • Subscription:
    • Qualified institution: 0 Times
    • Non-Retail: 0.13 Times
    • Retail investment: 8.95 Times
    • BPCL : BPCL to sell 7% treasury shares tomorrow
    • BPCL to sell its Rs 7000 cr worth treasury shares
    • BPCL to decide on special dividend post deal tomorrow
    • BPCL to sell treasury shares via block deal
    • Kotak, Citi Brokers to deal
    • *SEC. IN F&O BAN FOR 09.MAR,2021 :*
    • *1. BK. BARODA 2. BHEL 3. PNB 4. SAIL 5. SUNTV*

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