Actionable: Buy ITC, BEL.
Insight Online News
From Advisory Desk : Vikash Sahay
27th March 2023 : Market Outlook: US futures were trading higher following a positive week and reassurances from Powell and Yellen amid banking turmoil. Meanwhile, bond yields eased further, which reduced some of the pressure on equity valuations and bank balance sheets by minimizing unrealized losses. Asian markets have started on a mixed note, with SGX Nifty indicating a positive opening. We expect volatility to continue in the market ahead of the truncated week and monthly expiry on Wednesday. We advise traders to remain cautious and be highly selective in the stock investments.
Actionable: Buy ITC, BEL.
Positional Idea: Buy KPIT Tech
Global market:
DOW: + 132
SGX NIFTY: + 110 (prev. close 16920)
NIFTY 50 : 16945
Sensex : 57527
Institution:
FII: – 1720 Cr
DII: + 2556 Cr
NSE:
Advances: 967 / Declines: 2541
Currency:
Dollar: $ 82.48
Dollar Index: 103.13
Commodity:
Gold: $ 1994 per ounce
Crude: $ 74.50 per barrel
Bonds:
10 year US bond rate: 3.37
10 year Indian Bond rate: 7.32
Derivative:
PCR: 1.04
VIX: 15.24
Updates:
Bharat Electronics – Company has signed contracts worth Rs.4,300 crore to supply warfare systems to the Indian Army and Indian Navy.
Alembic Pharma – During the period of March 16-24, 2023, the USFDA conducted an inspection of the Karkhadi facility and subsequently issued a form 483 with two minor procedural observations for the facility.
Zydus Lifesciences – From March 20 to 24, 2023, the USFDA conducted a Pre-Approval Inspection (PAI) and a GMP Audit at the Pharmez manufacturing facility in Ahmedabad SEZ-1, which resulted in three observations.
Lupin – The company said that its Pithampur facilities have undergone a successful inspection by the UK Medicines and Healthcare products Regulatory Agency (UK MHRA) from March 20 to 24, 2023.
Dalmia Bharat – Subsidiary Dalmia Cement has signed an agreement to sell its 42.36% stake in an associate company to Sarvapriya Healthcare Solutions for a total of Rs.800 crore.
Nykaa – Five senior executives, including the Super Store CEO, chief business officer, and chief commercial officer, have tendered their resignations from the company.
Securities in Ban: HAL, IBULHSGFIN.
Derivative View: Weekly Maximum Call OI is at 18000 then 17100 strike while Maximum Put OI is at 17000 then 16500 strike. Option data suggests an immediate trading range in between 16700 to 17150 zones.
