Day trading guide for Friday

　　Due to the sudden jump in the long-term bond yields in the US, we again witnessed a sharp decline in the market on Thursday.

　　Technically, the market recovered from lower levels, but due to the pressure of the weekly expiration of Index contracts, the Nifty/Sensex came back from the highs of 15,200/51,260. On Friday, 15,050/50,750 and 14,950/50,400 levels will be decisive for the market. The Nifty/Sensex could fall to 14,850/50,100 or 14,750/49,800 on a decisive dismissal of 14,950/50,400. On the upside, the 15,250/51,300 level would be a big hurdle for the index.

　　Tech Picks

　　Analyst: Shrikant Chouhan, Executive Vice President - Technical Research

　　Amara Raja NSE 0.53 % Batteries: BUY

　　CMP: Rs 919

　　Target: Rs 950

　　Stop loss: Rs 900

　　Rounding bottom formation near important support zones with incremental volume activity on daily chart.

　　Ambuja Cements: BUY

　　CMP: Rs 292

　　Target: Rs 305

　　Stop loss: Rs 285

　　The stock is trading in a rising channel and with a higher top higher bottom formation, the up move is likely to sustain in the near term.

　　FSL: BUY

　　CMP: Rs 107.95

　　Target: Rs 114

　　Stop loss: Rs 105

　　A fresh breakout is evident from an inverse head and ..

　　Grasim: BUY

　　CMP: Rs 1,350.4

　　Target: Rs 1,390

　　Stop loss: Rs 1,330

　　Higher high and higher low chart formation indicates bullish momentum in stock to remain in the near term.

　　F&O Strategy

　　Analyst: Sahaj Agrawal, Head of Research - Derivatives

　　Futures: BUY SBI Life Future-March at 915

　　Stop loss: 886

　　Target: 960

　　Descending Triangle breakout seen above 910 on spot.

　　Options: Nifty Bull Call Spread: 25 Mar-21 SERIES

　　Buy 15100 CE @ 350 and Sell 15500 CE @ 165

　　Premium outflow (Cost): 185

　　Stop loss: 80

　　Target: 350/400

　　Nifty continues to trade in an uptrend, after it made a putative swing low of 14,467. A fresh momentum has built up above 15,000 and with market breadth remaining strong, we expect Nifty to retest 15,500 levels.

　　Forex & Interest Rate Technical

　　Anindya Banerjee, DVP, Currency Derivatives & Interest Rate Derivatives

　　USD-INR: Buy 73.00 Put and Sell 74.00 Call option; March 26th expiry @ 22 paise.

　　Stop loss: Exit strategy if USD-INR March fut trade above 73.55

　　Commodity Calls

　　Ravindra Rao, VP- Head Commodity Research