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Buy on Dips: Buy Voltas, Bharti Airtel, ICICI bank & Infosys.

Buy on Dips: Buy Voltas, Bharti Airtel, ICICI bank & Infosys.
February 26
05:14 2020
Vikash Sahay
Vikash Sahay

From Advisory Desk : Vikash Shay

26th February 2020

Market Outlook: Corona Virus continues to haunt the global markets. Dow Jones ended 800 points lower, Asian markets were trading in red for more than a percent and SGX Nifty was trading 100 points lower. FIIs were sellers with 2315 cr. Gold was trading at $ 1645 per ounce.

Buy on Dips: Buy Voltas, Bharti Airtel, ICICI bank & Infosys.

Motilal Oswal

SBI Cards IPO: SBI Cards IPO will open for subscription on March 2nd and close on March 5th at a price band of Rs.750-755 per share.

Global market:
DOW: -879
SGX NIFTY: -97 (prev.close 11818)
NIFTY 50 : 11797
Sensex : 40281

Institution:
FII: -2315 Cr
DII: +1565 Cr

NSE:
Advances: 542 / Declines: 1037

Currency:
Dollar: $ 71.88

Commodity:
Gold: $1643 per ounce
Crude: $54.75 per barrel

Bonds:
10 year US bond rate: 1.35
10 year Indian Bond rate: 6.37

Updates:

Bandhan Bank: RBI lifts branch opening restrictions on Bandhan Bank, subject to condition that bank ensures at least 25% of total banking outlets opened in the year are in unbanked rural areas.

Derivative View : VIX closed at 16.89. Max Put OI is at 11700 then 11600 strike while Max Call OI is at 11900 then 12000 strike. Option data indicates a trading range between 11600 to 11900 zone.

Stock

Nifty formed a Bullish Harmonic Pattern called Bullish Bat around major support of 200 DMA.

11670 – 11677 spot is major reversal zone for the index and positional traders can look for buying opportunity with a stop-loss of 11600 for an upmove towards 11950 – 12050 (All spot levels).

Vikash Ranjan Sahay, Founder & CEO , Value Management Solution P Ltd, (Exclusive Business Partner of MotiLal Oswal)

Mr. Vikash Sahay can be contacted at +91 9471133334

Actionable: Buy Bharti Airtel, MindTree, Tata Global,
TBZ
G.E.L Shop Association
Novelty Fashion Mall
Krsna Restaurant
Motilal Oswal
Chotanagpur Handloom
Kamalia Sales
Home Essentials
Raymond

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Fayim Md

Fayim Md

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