Markets ended lower amid excessive volatility - Religare Broking
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2021/03/cc2bdfa969eccc854ccb4837c60f992a.jpg)
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Nifty Outlook
Markets ended lower amid excessive volatility, in continuation to the prevailing consolidation phase. Initially, the benchmark opened firm, tracking upbeat global cues however surge in bond yields impacted sentiment as the day progressed. Consequently, Nifty retraced almost 380 points from the day’s high and ended with losses of nearly 1% at 15,031 levels. The broader indices too witnessed profit-taking but managed to outperform the benchmark. Amongst the sectors, except Oil & Gas and Consumer Durables which ended higher, all the other indices ended with losses wherein Auto, Banking and Realty were the top losers.
Markets will react to the macroeconomic data viz. IIP and CPI inflation on Monday. Besides, global cues and COVID-19 related updates will remain in focus. Amid all, we reiterate our cautious view on markets until we see either side's decisive break in Nifty(14,900-15,300 range) and suggest keeping a check on leveraged positions.
News
Jindal Steel & Power announced that its steel production grew by 18% YoY in February 2021. Its sales were up 14% YoY in February 2021.
Ramco Cement announced the commissioning of Phase ll of Waste Heat Recovery Plant at its Jayanthipuram plant.
Wipro announced that it has been positioned as a Leader in the NelsonHall’s NEAT vendor evaluation for SAP Cloud Migration Services 2021 report.
Derivative Ideas
BPCL FUTS added around 5% in open interest addition as long buildup was seen in it till closing time. Current chart pattern also indicates further up move in its price. We suggest buying BPCL as per below levels.
Strategy:- BUY BPCL BETWEEN 451-453 SL 445 TARGET 468.
Investment Pick - Kansai Nerolac Paints Ltd.
Established in 1920, Kansai Nerolac Paints Limited (KNPL) is a subsidiary of Kansai Paint Co. Ltd., Japan. It is the second largest coating company in India and a market leader in Industrial Coatings. KNPL has well established products in both the decorative and industrial segments. It has pan-India presence with 6 manufacturing plants, 104 depots and 27,500+ customer network. In international markets it expanded in Nepal, Bangladesh and Sri-lanka.
Going ahead, its strategy is to grow in both segments as well as gain market share from unorganised players on the back of positive sector trends, innovative products, focus on non-auto segments, increase distribution network and expand in newer geographies and in semi-urban and rural areas. Moreover its recent foray into adhesives and construction chemicals segment would aid benefits in the coming quarters. We have a positive view on KNPL hence we are initiating with a Buy rating on the stock with a target price of Rs. 705
Buy Kansai Nerolac Paints Ltd @ 9-12 Months CMP 574 TGT 705
To Read Complete Report & Disclaimer Click Here
Please refer disclaimer http://ex.religareonline.com/disclaimer
SEBI Registration number is INZ000174330
Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer
![](https://portfolio.investmentguruindia.com/uploads/news/Axis Securities Ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Indiateam57.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/munishakhatwal57.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/geojit Financial Services.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/tatapower57.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/MP Ahammed.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Fintech Pre-budget expectation.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/uttarpradesh57.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Budget_3.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Cyberpeace.jpg)
Tag News
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/cc796169e4f7c012914c95f4a8efe430.jpg)
Weekly Market Analysis : Markets strengthened recovery and gained nearly 2% in the passing w...
![Weekly market outlook : The market is eagerly awaiting data on inflation and industrial production to provide further guidance Says Vinod Nair, Geojit Financial Services](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/5f1fa5f12be5ac87ff9258ea3909f0f8.jpg)
![Market Quote : Benchmark Indices ended the week today just a few percentage away from record highs Says S Ranganathan, LKP securities](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/f33c3d1dad571464e55a94475ae32892.jpg)
![Daily Market Commentary : Nifty closed higher for the sixth straight day with gains of 93 points (+0.5%) at 19820 levels Says Mr. Siddhartha Khemka, Motilal Oswal](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/009b2b15289ce4f7e143526434c946d5.jpg)