On March 15, the market saw a steady five-day boom. The market closed with a fall of over 1 per cent yesterday on selling in banking financials, metals, FMCG, tech and index heavyweight Reliance. In the last 5 trading sessions, the market had seen a rise of more than 6 percent. Weak global cues, rising cases of corona in China and Europe affected the market sentiment badly.
In yesterday’s trade, Sensex closed at 55,777 with a fall of more than 700 points. At the same time, Nifty closed at the level of 16,663, down 200 points. Nifty formed a bearish candle on the daily chart yesterday. In yesterday’s trade, along with the giants, there was weakness in the mid and smallcaps too. Nifty Midcap closed with a fall of 0.9 per cent. At the same time, Smallcap closed with a fall of 1.4 percent.
Where can you earn today?
Here we are giving you some such data, on the basis of which it will be easy for you to catch profitable deals. It should be noted here that the Open Interest (OI) and Volume of Stocks figures in this story are the sum total of three months’ data, not just the current month.
Key support and resistance levels for Nifty
The first support for Nifty is located at 16,503 and after that the second support is located at 16,342. If the index turns upwards, then it may face resistance at 16,875 then 17,088.
The first support for Nifty Bank is located at 34,604 and after that the second support is located at 34,186. If the index turns upwards, then it may face resistance at 35,542 then 36,062.
FII and DII figures
Foreign institutional investors sold Rs 1,249.74 crore in Indian markets on February 15. At the same time, domestic institutional investors bought Rs 98.25 crore on this day.
Stocks coming under F&O ban on NSE
As on March 16, 1 stock Balrampur Chini Mills F&O is under ban on NSE. It is to be noted that the stocks included in the F&O segment are put in the ban category if the positions of the securities exceed their market wide position limits.
Today’s Intraday Calls which can make huge profits
Sumeet Bagadia of Choice Broking Intraday Call
Motherson Sumi: Buy at current price, target Rs -140-145, stop loss Rs -128
Minda Corp: Buy at current price, target Rs.225, stop loss Rs-185
Intraday Call by Anuj Gupta of IIFL Securities
Tata Power: Buy at current price, Target – Rs 470, Stop Loss – Rs 400
Equitas Holdings: Buy at current price, Target – Rs 125, Stop Loss – Rs 90
Intraday Call by Avinash Gorakshakar of Profitmart Securities
ICICI Bank: Buy at current price, Target – Rs 730, Stop Loss – Rs 685
Mahindra & Mahindra: Buy Current Price Target – Rs 790 Stop Loss – Rs 748
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