Market looks stable ahead of Russia-Ukraine talks...

WEEKLY EQUITY BULLETIN FROM 14 MAR TO 17 MAR 2022 The Indian market took a break from four consecutive weeks of selling to close more than 2% higher in the week ended March 11. Hopes of de-escalation between Russia and Ukraine, falling crude prices, and the BJP’s convincing win in four of the five state elections aided sentiment. In the week gone by, the Nifty jumped 385 points, or 2.4%, to 16,630, and the Sensex rallied 1,216 points, or 2.2%, to 55,550. The BSE midcap and smallcap indices gained more than 3% each. The weekly rally was supported by metals, infra, IT, energy, FMCG, pharma and oil & gas stocks. As per depositories data, FPIs pulled out Rs 41,168 crore from equities, Rs 4,431 crore from the debt segment and Rs 9 crore from hybrid instruments, taking the total net outflow between March 2-11 to Rs 45,608 crore. This is the sixth consecutive month of FPI outflows from the Indian markets. Nifty Futures On the weekly basis, the Nifty future has resistance around 16850, if it breaks and closes above 16850 will see an upside rally till 17500 and further to 17800 levels in upcoming trading sessions. Major support around 16300, if it breaks and closes below 16300 will see sharp downside panic till 15700 and then to 15350 levels in upcoming trading sessions. Bank Nifty Futures On the weekly basis, the Bank Nifty future has resistance around 35500, if it breaks and closes above 35500 will see an upside rally till 36800 and further to 37500 levels in upcoming trading sessions. Major Support around 33800, if it breaks and close below 33800 will see downside fall till 32200 and further to 31600 levels in upcoming trading sessions. Weekly Top Pick Stock Alkem Laboratories Ltd (ALKEM) Buy ALKEM FUTURE around 3300—3280 with a stop loss below 3100 levels for an upside movement till 3700—3850 levels in days to come. Great Eastern Shipping Company Ltd (GESHIP) Buy GESHIP around 320 with a stop loss below 300 levels for an upside target of 370—-380 +++ levels in days to come.

T&C Apply...