DAILY NEWS LETTER

Date: 11 .03.2020

Nifty Short Term Trend Bear continued to maintain their stronghold on D-Street on March 9 with benchmark index Nifty tanking nearly 5 percent. Crude war and coronavirus fear forced the index to break its crucial supports of 10,650-10,500 levels. The RSI oscillator has now moved into oversold territory, but no signs of a reversal are visible just yet. The Nifty50 after opening sharply lower at 10,742.05 extended losses and hit an intraday low of 10,294.45. With decent recovery from intraday low of 10,294, there is a possibility of one corrective structure from the highs of 12,430 getting culminated in the form of a FLAT in Elliot Wave terminology, as it is clearly delineating a 3-3-5 corrective structure. In case Nifty fails to hold on to 10,400 then we might see further selling pressure during intraday until 10,350-10,280 while on the higher side immediate resistance can be expected around 10,550-10,620. Bank Nifty opened on a negative note and corrected sharply below 26,000 mark on an intraday trades. Bears were in no mood of mercy and kept the ball in their territory throughout the day. The banking index breached its major support of 26,560 and closed below the same to form a big bearish candle on the daily chart. It settled at 26,462.60, down 1,338.85 points. It is sustaining below its major support of 100 EMA and rising trend line on weekly chart, which is a negative sign for the market. Immediate support

for Bank Nifty can be seen around 26,200-25,800, on the flipside, resistance is shifting lower to 27,100-27,800 levels.

Levels to watch

R1 R2 S1 S2 Outlook for the Day Short term Outlook

NIFTY 10550 10620 10350 10280 Negative Negative

BANK NIFTY 27100 27800 26200 25800 Negative Negative 73.95 74.10 73.58 73.36 USD/INR Negative Negative

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Financial & Economic Wrap Up Indices Performance   India's thermal coal imports rose 12.6 percent to Index LTP Previous Close % Change nearly 200 million tonnes in 2019, government data S&P BSE Sensex 35634.9 37576.62 -5.17% reviewed by Reuters showed, reflecting the second Nifty 50 10451.4 10989.45 -4.90% straight year of growth in shipments of the fuel Nifty Midcap 50 4156.90 4380.20 -5.10% despite attempts by the government to cut imports. Nifty 500 8631.35 9059.95 -4.73% Coal is among the top five commodities imported by Bank Nifty 26462.6 27801.45 -4.82% India, the world's largest consumer, importer and Institutional Flows (Cash Segment) producer of the fuel. Description (Rs in Cr) BUY SELL NET  Finance Minister Nirmala Sitharaman will hold meeting FII Activity 6076.45 12672.01 -6595.56 with chief executives of amalgamating banks on DII Activity 9971.24 4996.44 4974.80 Thursday to review preparedness for the merger

beginning April 1. Earlier this month, the Union FIIs Derivative Statistics Cabinet headed by Prime Minister Narendra Modi BUY SELL approved consolidation of 10 state-owned banks into No. of Amount No. of Amount four. According to sources, the finance minister will Contracts (INR. Cr.) Contracts (INR. Cr.) review planning and preparedness of merging banks Index Futures 158631 11044.15 155246 10822.47 on March 12. Index Options 3243937 216175.30 3214627 214094.92 Stock Futures 361613 20282.02 341331 19688.95  Foreign investors are aggressively selling Asian Stock Options 109410 6913.15 110631 6940.64 equities this month amid worries of a deeper economic fallout from the coronavirus outbreak in the Top OI Gainers region. Overseas investors have sold a net $9 billion % Change % Change worth of regional equities so far in March, after Scrip LTP in Price OI in OI offloading $5.6 billion last month, data from stock HDFCLIFE 519.15 -5.57 3284 23.64 exchanges in India, Indonesia, Philippines, South MINDTREE 885.6 -9.07 2438 19.45 Korea, Taiwan, Thailand, and Vietnam showed. IDEA 4.05 20.90 8882 16.30 Radhika Rao, an economist at DBS Bank, said the BANDHANBNK 375.3 -7.39 4742 10.74 BAJAJ-AUTO 2583.3 -5.57 10334 8.82 outbreak was expected to take an economic toll on

the region given its proximity and strong trade and Top OI Losers production linkages with China. % Change % Change  State-owned Union Bank of India on Monday Scrip LTP in Price OI in OI announced reduction in its marginal cost of funds- CHOLAFIN 273.9 -2.58 2446 -15.01 based lending rate (MCLR) by 10 basis points across all COALINDIA 158.4 -5.04 20662 -12.98 tenors, effective March 11. This is the ninth NTPC 102.45 0.15 14725 -12.12 consecutive rate cut announced by the Mumbai-based POWERGRID 175.8 -3.17 12,639 -12.01 RAMCOCEM 706.6 -2.93 1088 -10.08 bank since July 2019. It reduced one-year MCLR to 8

percent from 8.10 percent, according to a release. Volume Spurt: Cash Segment  With oil erasing over a third of its value overnight after Quantity Price Scrip LTP a messy breakup of the OPEC+ alliance, OPEC Change (%) Change (%) members are bleeding over half a billion dollars a day YES BANK LIMITED 21.25 18.65 31.58 in lost revenue, according to Reuters calculations. For VODAFONE IDEA LIMITE 4 29.46 21.21 the most part, oil is a top income source for members Hindustan Petroleum 212.6 35.13 5.69 of the Organization of the Petroleum Exporting WELSPUN CORP LIMITED 124.45 49.28 -19.94 Countries and such a dramatic fall in prices will put BLISSGVS 97.95 88.83 -19.98 **Change from average Quantity, rest other % are over previous day’s strain on their economies, some of which such as Iran close unless otherwise mentioned and Venezuela, are already on the brink.

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Nifty OI – Call Put Analysis

w Open Interest-Call/Put Change in Open Interest - Call/Put 3,000,000 1,000,000

2,000,000 500,000 1,000,000 0 0 Change IO in Change Open Interest Open 10000 10200 10400 10600 10800 11000 -500,000 Strike Price 10000 10100 10200 10300 Strike10400 Price10500 10600 10700 10800 10900 11000

CE-OI PE-OI Change in OI-CE Change in OI-PE

Put Call Ratios OI Wise Volume wise

INDIGO 1.38 BEARISH RAMCOCEM 7.00 BEARISH SRF 1.06 BEARISH SRF 1.65 BEARISH RAMCOCEM 1.04 BEARISH TORNTPOWER 1.63 BEARISH JUBLFOOD 1.01 BEARISH ADANIENT 1.58 BEARISH EXIDEIND 0.97 BEARISH WIPRO 1.55 BEARISH

F&O Wrap-up • Nifty March series future closed at 10447 Discount 4.45 Point compared to Nifty spot which closed at 10451.45 • The Nifty OI wise Put-Call ratio stood at 1.18 and volume wise put-call ratio stood at 0.93 • India VIX has increased by 20.11 percent and closed at 30.8000 • The open interest in Nifty Futures increased from 17,00,560 to 18,39,357

Quarterly Results Today

ARIES AGRO LTD. JINDAL WORLDWIDE LTD.

ATUL LTD. KABRA EXTRUSIONTECHNIK LTD.

CONTROL PRINT LTD. MENON PISTONS LTD.

EICHER MOTORS LTD. MOLD-TEK TECHNOLOGIES LTD.

Eris Lifesciences Ltd NCL INDUSTRIES LTD.

FIEM INDUSTRIES LTD. NESCO LTD.

FUTURA POLYESTERS LTD. OIL AND NATURAL GAS CORPORATION LTD.

Geojit Financial Services Ltd PERSISTENT SYSTEMS LTD.

Indian Energy Exchange Ltd TORRENT PHARMACEUTICALS LTD.

IOL CHEMICALS & PHARMACEUTICALS LTD. UNITED DRILLING TOOLS LTD.

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