Indices recover from day's low to end flat, PSU Bank stocks gain over 1.5%

All that happened in the markets today.

9:21 AM

Sectoral Trend

9:19 AM

BSE Sensex gainers and losers

9:16 AM

Market at open

 

At 9:16 am, the S&P BSE Sensex was trading at 33,734, down 123 points while the broader Nifty50 was ruling at 10,393, down 34 points.

9:04 AM

STOCKS IN NEWS

Future Retail to launch FBB brand in Oman, other states of GCC

Government to sell 10% stake in HAL through Rs 4,230-cr public offer; IPO opens on 16th March

Blue Star launches 100 new ACs, eyes 12.5% market share in FY19

Shoppers Stop shuts HomeStop store in Vijaywada

Winsome Diamonds loan default: Hasmukh Shah remanded in CBI custody

IRB Infra in consortium with Modern Road Makers Pvt Ltd bags two road projects from NHAI in Tamil Nadu

Hero Motocorp launches Passion PRO, Passion XPRO

NTPC launches $400 million bonds; it has also commissioned third unit of Kudgi Super Thermal Power Station

NSE has fined Gitanjali Gems, ABG Shipyard, Amtek Auto, DS Kulkarni Developers, Bharati Defence and Infrastructure, Educomp Solutions, Shree Renuka Sugars, Moser-Baer (I) and Sterling Biotech for failing to file December quarter results

Fortis Healthcare: Malaysia’s IHH Healthcare Bhd is set to launch a voluntary open offer to buy the non-promoter shares of Fortis Healthcare in the next few days, nine months after walking out of bilateral negotiations with promoters Malvinder and Shivinder Singh who were then in control

Bharti Airtel is believed to be looking to sell a higher stake in Bharti Telemedia, its DTH arm, to raise funds for building a war chest to fight Reliance Jio Infocomm 

(Source: Nirmal Bang report)

9:02 AM

Markets at pre-open

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	33,872.37	+15.59	+0.05
S&P BSE SENSEX 50	10,883.81	+4.62	+0.04
S&P BSE SENSEX Next 50	33,334.35	+374.44	+1.14
S&P BSE 100	10,773.76	+22.58	+0.21
S&P BSE Bharat 22 Index	3,572.90	+18.68	+0.53

9:01 AM

Technical calls from HDFC Securities

 

BUY: Chambal Fert 

CMP: Rs 161.10 

SL: Rs 155 

Target: Rs 168

 

On 26th Feb 2018, Stock registered new 52 week and all time high with jump in volumes. Stock price has formed multiple bottoms at the similar level of 150 in last 1 month. Stock price currently placed above 20, 50, 100 and 200 DMA, indicating bullishness on all time frames. Stock is one of the few fertilizer stocks, which is hovering around its all-time high.

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8:58 AM

Nifty outlook by HDFC Securities

 

Nifty ended flat and formed indecisive “Doji” pattern on the daily chart during yesterday’s session to close at 10426. Nifty has shown a recovery of more than 330 points in last four sessions. Nifty managed to hold above its 200 DMA support and reversed northward. The meaningful resistance from here seems at 10638, which happened to be the intermediate top on the daily charts.

 

Considering the evidences discussed above, We believe that Nifty could extend this pullback and Longs should be held for the upside target of 10600, keeping SL at 10300.

8:53 AM

Stocks in News

 

L&T: NHAI awards INR10.5b contract for Dwarka Expressway to Larsen.
 

Yes Bank : Acquires 17.3 per cent of Fortis on pledge invocation.
 

Torrent Pharma: May raise Rs1,500 crore in bid for Sanofi generics business.
 

Balrampur Chini: CRISIL rated total bank facilities worth Rs 2,283 as AA/Stable for the long term rating.
 

IRB Infra bags two road projects from NHAI in Tamil Nadu

 

(Source: Geojit Financial Services)

8:51 AM

Ashok Leyland: Reco Price (Rs) 122, Previous Target (Rs) 150, New Target (Rs) 166

 

We had upgraded our recommendation on Ashok Leyland to BUY in our Q3 FY18 result update dated Feb 05, 2018 for a target price of Rs150. The target was achieved in yesterday’s trading session with the stock delivering a return of 23%. The outlook for commercial vehicles demand continues to be positive as highlighted in our report Auto Sector – Commercial Vehicles released on March 09, 2018.

Ashok Leyland has been gaining market share in this segment. Also, strong demand trends are expected to surface in LCV segment where Ashok Leyland is launching new products. Its focus on defense, exports and spare parts are likely to yield strong results over the medium term. We advise investors to hold the stock for a revised target of Rs166.

(Source: IIFL)

 

8:51 AM

DERIVATIVE INSIGHTS: BankNifty – Consolidation likely

 

BankNifty’s recent fall has breached key support of its half yearly mean (currently near 25,300), which would now likely act as an immediate hurdle point with crucial gann number placed at 25,700. This week’s rally, post a sharp downtick, implies possible rangebound action to digest previous fall of ~3,600 points from the record high.

 

For the current series, we suggest Short Strangle on BankNifty (March series: Monthly expiry 28th)

 

Sell Bank Nifty 24000 put and Sell 25500 call 1 lot each for 28th March. 

 

Current Spread: 250 points, Target spread: 120/60 point.

 

Stop loss on spread of 350 points, BEP on downside 23750 and 25750 on upside.

(Source: IIFL)

 

8:50 AM

Top trading ideas by Prabhudas Lilladher

 

BUY HDFC LIFE

CMP : Rs 442.10

TARGET : Rs 475

STOP LOSS : Rs 426

 

The stock has made a double bottom formation at around 422 levels and has indicated a bullish candle pattern in the daily chart to signify strength and potential for further rise in the coming days. The RSI has reversed its trend from the oversold zone and has signaled a buy to indicate a positive bias.

 

With good volume activity visible, we recommend a buy in this stock for an upside target of 475 keeping a stop loss of 426.

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8:48 AM

Chart check: Nifty (Image source: Geojit Financial)

8:47 AM

Nifty view by Prabhudas Lilladher

 

Nifty on intraday basis breached 10,435 levels for which a high of 10,478 was made however closed below 10,435 whereby market is likely to consolidate at these levels with near term support at 10,350 levels. The support for the day is seen at 10360 while the resistance would be seen at 10,480 levels.

8:44 AM

Bharat Dynamics IPO sees 32% subscription on Day 1

 

The Rs 960 crore initial public offering (IPO) of public sector unit (PSU) Bharat Dynamics Ltd witnessed an overall subscription of 32% on Tuesday, the first day of the share sale, data from stock exchanges showed, Mint reported.

 

Bharat Dynamics has priced its shares in a band of Rs 413-428 per share. The IPO will close on 15 March. The initial share sale of Bharat Dynamics is a pure offer for sale that will see the government selling a total of 22.45 million shares, representing a stake dilution of about 12 per cent.

8:41 AM

Government to sell 10% stake in HAL through Rs 42.30 billion IPO

 

As part of the divestment process, government will divest 10 per cent of its stake in the public sector chopper-maker Hindustan Aeronautics, which today launched a Rs 42.30 billion initial public offer.

 

As part of the IPO that hits the market on March 16, the Maharatna company will also sell 10.20 per cent of its equity through and offer-for-sale route.

 

The firm, which gets over 91 per cent of its sales from the defence sector including the Coast Guard, has fixed a price band at Rs 1,215-1,240 per equity share for the offer that will hit the market on March 16 and close on March 20. READ MORE