Equity Big Shot- Indian Market View, Vol 128

Settlement Price

Nifty: 14761.55 (+1.60%)

Bank Nifty: 35296.10 (+1.14%)

USDINR: 73.48 (-0.41%)

FII Data (Approx.)

Institution/Daily Net Position/Monthly Net Position (Derivatives, In Crores...)

FII (+125.15 cr) (++125.15 cr)

DII (-194.88 cr) (-194.85 cr)

Stocks in the news

BPCL, IOC, HPCL: BPCL board approved sale of entire stake in Numaligarh Refinery for Rs 9,875 crore. Oil India, Engineers India and Government of Assam will be picking up the stake.

Shipping Corporation of India: DIPAM Secretary said multiple expressions of interest received for privatisation of Shipping Corporation and the said transaction will now move to the second stage.

Hero MotoCorp: Total sales in February 2020 increased to 5.05 lakh units versus 4.98 lakh units YoY.

UPL: The company signed long-term pact with FMC Corporation for Rynaxypyr active ingredient.

Eicher Motors: Total motorcycle sales in February 2020 rose to 69,659 units versus 68,877 units MoM.

NMDC: Production in February 2020 increased to 3.86 million tonnes from 3.24 million tonnes YoY and sales rose to 3.25 million tonnes from 2.91 million tonnes YoY.

Savita Oil Technologies: Pari Washington India Master Fund reduced stake in the company to 3.21% from 5.33% via open market transaction.

Nifty Spot

Nifty has support at 14500 and resistance at 14800. Break and sustain above 14800 will take it to 14980---15050. More and more upside rally we will see on a close above 15050 mark or else it could test its support level of 14600---14500 again.

Fresh selling we will do on a close below 14500 levels only. Trade safely with levels and wait for confirmation.

Bank Nifty Spot

Bank Nifty has support at 34400 and resistance at 36000.

Above 35300... Target looks 36000. More and more upside rally we will see on a close above 36000 levels.

Fresh selling we will do on a close below 34400.

Trade safely.

Top Pick

Investment Pick- Buy Aarti Industries around 1260. Stop loss 1060. Target 1650.

Buy AIA ENGINEERING above 1825. Stop loss below 1780. Target 1900+++ (Call is active, Maintain stop loss below 1780.

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