EquiChain Wealth

Nifty @ 22267 & Banknifty @ 47036 & VIX @ 12.89 Indices seen profit booking from higher level - we will consider this as opportunity to accumulate in case of further correction. Rationale to be bullish / Accumulation zone 1) March End / Year end - selling pressure if any will likely to get exhausted by today or latest by 27-Mar-24 2) View remain bullish with General election view 3) Earnings & guidance - no negative news - Positive with medium term view 4) US Fed meeting outcome - 3 rate cut in 2024 Disclaimer: https://bitly.ws/3a3Tg

KOTAKBANK @ 1803 Technical breakout on cards - View is bullish with positional view We see this as positive sign ahead of next quarterly result season. We will accumulate with positional view with next two quarters......... Disclaimer: https://bitly.ws/3a3Tg

Nifty @ 22302 & Banknifty @ 47133 & VIX @ 12.76 Indices are higher as today march end - selling pressure seems to be over................. We have already mentioned earlier................we do believe that this rally has move steam left. Rationale to be bullish / Accumulation zone 1) March End / Year end - selling pressure if any will likely to get exhausted by today or latest by 27-Mar-24 2) View remain bullish with General election view 3) Earnings & guidance - no negative news - Positive with medium term view 4) US Fed meeting outcome - 3 rate cut in 2024

Rationale to be bullish / Accumulation zone 1) March End / Year end - selling pressure if any will likely to get exhausted by today or latest by 27-Mar-24 2) View remain bullish with General election view 3) Earnings & guidance - no negative news - Positive with medium term view 4) US Fed meeting outcome - 3 rate cut in 2024 Disclaimer: https://bitly.ws/3a3Tg — posted on 22-Mar-24 Major indices at trading at level seen in January 2024 & Mid-cap & Small-cap are trading below / around that level........

Nifty @ 22063 & Banknifty @ 46713 & VIX @ 12.76 Today's 27-Mar-24 will be settled in current FY and today is last working day. Tomorrow's trade will be considered in next financial year & will also start T+0 settlement in select broker with 25 scripts. We maintain our strategy..............use current level to add / buy with next quarterly result season / Election result view.

We strongly believe that next two weeks will be time to accumulate and bring exposure as high as 85% to 90% and key reason for positive view in upcoming general election, globally interest rate heading downward and earnings season. — Nifty @ 22038 & Banknifty @ 46705 & VIX @ 12.90 Any correction in this holiday shorten 3-day week - we will see this as buying opportunity over next two trading week with positional view.

Last week – review Nifty @ 21860 & Banknifty @ 45661 are important support level which and market trend remains positive till these levels hold. Indices manage to hold and give positive trend only to close flat on weekly basis. Technical Insight Nifty @ 21910 to act as support level and 22145 as resistance level. Nifty this week will be attempting fresh break-out above 22145 to test 22290 & 22408. Nifty @ 21910 & 21743 to act as important support level this week. Banknifty @ 45981 to act as support level and 47238 as resistance level. Banknifty range for this week is likely to be positive once Banknifty break above 47238 could test 48161. Approach on Technical: Next trading will be short trading week with trade done on 26th & 27th March to be considered in current financial year and trade done on 28-Mar-24 will be considered in next financial year. Nifty & Banknifty RSI indicates possibility of fresh break-out and indices would attempt towards 22525 & Banknifty towards 48161. We will turn cautious if indices break important support level on Nifty @ 21910 & Banknifty @ 45981. Our view as per technical is bullish and we expect Indices could test higher level this week. Fundamental Insight 1) FY24 Advance Tax Mop-Up Stands at Rs 9.11 Lakh Crore 2) RBI Bulletin: Indicators Suggest GDP Growth Closer To 8% In FY24 3) India's Exports May Reach $450 Billion This Fiscal: New FIEO President Equichain Wealth Advisors: Market View & Strategy We believe that any selling pressure due to year-end factor would be over and now market will be looking forward for next quarterly earnings season and general election. We see strong possibility of healthy rally in next week which is trading on 3-day. Trade done on 28-Mar-24 will be considered in next financial year. We strongly believe that next two weeks will be time to accumulate and bring exposure as high as 85% to 90% and key reason for positive view in upcoming general election, globally interest rate heading downward and earnings season. Click on the attachment to read the full report posted above 👆👆

Global Market – Week of Global Central Banks – BOJ, US Fed & BOE This week, we will discuss the outcome on Global central banks and their impact on market. What will be the course of interest rate globally. Globally interest rate expectation is different from different central banks as economic or the domestic situation of different countries demand different approach from their respective central banks. Bank of Japan – 19-Mar-24 – Policy outcome The BOJ will raise the short-term rate to the 0%-0.1% range, the report said. The development reflects growing confidence among policymakers that a virtuous cycle of wage growth and price hikes is in motion following this year’s labor-management pay negotiations which saw average wages increase to a 33-year high of 5.28%. U.S. FOMC Meeting 20-Mar-24 - Outcome A solid majority of survey respondents see Fed officials penciling in three or more cuts in 2024, while more than a third expect two or fewer. Bank of England policy 21-Mar-24 – Outcome Two of the Bank of England’s most ardent hawks withdrew their support for interest rate hikes, as the UK’s central bank voted for a fifth-straight meeting to keep policy unchanged. Equichain Wealth Advisors: Market View & Opinion BOJ policy was in-line with market estimate as Japan moves out of negative interest rate still interest rate remains from 0 to 0.1%, that is way below developed economies as well as emerging markets. US Fed maintain on its expectation of 3 rate cut in 2024 and first rate cut of this cycle is expected to come in June 2024 and market reacted positively to US Fed chair Jerome Powell post press conference. We believe, current global market conditions are supportive of growth and inflation still remains concern. We expect global market will continue to trade with positive bias going into quarterly earnings season. We remain positive as stick inflation and stable growth can be seen as sign of stable growth and no stress in economy. Interest rate globally will come down gradually and its is a matter of time, and expectation is currently building around June 2024. Click on the attachment to read the full report posted above 👆👆

Rationale to be bullish / Accumulation zone 1) March End / Year end - selling pressure if any will likely to get exhausted by today or latest by 27-Mar-24 2) View remain bullish with General election view 3) Earnings & guidance - no negative news - Positive with medium term view 4) US Fed meeting outcome - 3 rate cut in 2024 Disclaimer: https://bitly.ws/3a3Tg

Our strategy would be to add in case of any major correction as we expect market could remain under pressure but that could be seen as buying opportunity with medium term view. Key event next week will be on global interest rate. Once March end effect is seen – market will be driven by earnings season from 2nd week of April and sentiment on election result back home. — from weekly report Nifty @ 21955 & Banknifty @ 46803 & VIX @ 12.56 As mentioned we remain is accumulation zone & will find opportunity to bring exposure to around 85% by 10-Apr-24. IT stocks - We are accumulating on dip - next quarterly result season will be key driven - even though ACCENTURE guidance was week. Defense, IT & Banks - We are in accumulation zone. Disclaimer: https://bitly.ws/3a3Tg

Nifty @ 21872 & Banknifty @ 46496 & VIX @ 14.04 US Fed meeting tonight - Indian market will react to it tomorrow. Our strategy would be to add in case of any major correction as we expect market could remain under pressure but that could be seen as buying opportunity with medium term view. Key event next week will be on global interest rate. Once March end effect is seen – market will be driven by earnings season from 2nd week of April and sentiment on election result back home. — We will be reviewing buy opportunity once there is clarity from US Fed meeting outcome & market reaction tomorrow.

Our strategy would be to add in case of any major correction as we expect market could remain under pressure but that could be seen as buying opportunity with medium term view. Key event next week will be on global interest rate. Once March end effect is seen – market will be driven by earnings season from 2nd week of April and sentiment on election result back home. — from weekly report Nifty @ 21862 & Banknifty @ 46372 & VIX @ 14.37 Nifty trading around 21860 - important support level - can expect further downside once below this level. FY year end factor is near term uncertainty - any buying opportunity to be review by Friday or next week or in case of any major fall without any reason. US Fed meeting on 20-Mar-24 - Indian market will react to it on 21-Mar-24.

OJ ENDS WORLD'S LAST NEGATIVE POLICY RATE, BOJ SETS POLICY RATE IN RANGE BETWEEN 0% TO 0.1%. BOJ ALSO SCRAPS YIELD CURVE CONTROL AND ETF PURCHASE, TO KEEP BUYING BONDS. $USDJPY https://twitter.com/Sino_Market/status/1769931779765674480

Nifty @ 22044 & Banknifty @ 46654 & VIX @ 14.22 Indices in green.........we expect volatility to continue.............. Strategy remains same..............only buy on Dip.

Nifty @ 21983 & Banknifty @ 46239 & VIX @ 14.28 This week is full trading week for FY2023 - 24, next week there are only 3-day trading week as next week - Monday & Friday will be holiday. 27-Mar-24 will be last working for current FY. Trade done on 28-Mar-24 will be settled in next FY. So whatever selling pressure due to year end - we expect this selling pressure to get over by this week. We are following strategy to utilize any major correction to deploy fund with positional view / Quarterly result view / General Election.

Our strategy would be to add in case of any major correction as we expect market could remain under pressure but that could be seen as buying opportunity with medium term view. Key event next week will be on global interest rate. Once March end effect is seen – market will be driven by earnings season from 2nd week of April and sentiment on election result back home. — Nifty @ 22016 & Banknifty @ 46559 & VIX @ 14.43 1) Bank of Japan 19-Mar-24 - meeting outcome tomorrow morning 2) US Fed - 20-Mar-24 - Indian market will react to it on 21-Mar-24 Any correction this week - we would consider this as buying opportunity