Actionable: Actionable: Buy ACC, ABFRL, India bulls real estate, Pidilite industries.

Insight Online News

From Advisory Desk : Vikash Sahay

8th Nov 2021

Market outlook: US markets ended the week on a positive note after better than expected jobs data. However, futures are trading in lower despite of US congress passed much delayed $1.2 trillion infrastructure bill. Asian markets have started in mix, with SGX Nifty trading higher by 70 points to Thursdays closing. As per initial reports from CAIT, Diwali sales crossed 1.2 lakh crore which is highest in 10 years, much needed breather to revival the economy. Indian markets closed strong on muhurat trading supported by all sectors. We expect the ongoing pullback to continue. Now, Nifty has to cross the immediate resistance zone of 17,950-18,050 levels for further upmove.

Actionable: Actionable: Buy ACC, ABFRL, India bulls real estate, Pidilite industries.

PAYTM: IPO will open today for subscription and closes on 10th Nov, 2021. IPO issued at a price band of Rs.2080-2150 per share.

Global market:
DOW: +203
SGX NIFTY: +45 (prev close 17940)
NIFTY 50 : 17916
Sensex : 60067

Institution:
FII: -328 Cr
DII: +38 Cr

NSE:
Advances: 2563 / Declines: 566

Currency:
Dollar: $ 74.46
Dollar Index: 94.33

Commodity:
Gold: $1820 per ounce
Crude: $83.75 per barrel

Bonds:
10 year US bond rate: 1.47
10 year Indian Bond rate: 6.36

Derivative:
PCR: 0.75
VIX: 15.74

Today’s results announcement: Britannia, Aurobindo pharma, Sobha, Balrampur chini, EID parry, Elgi equipments, HG Infra, KRBL, MM Forgings, Talbros, Ujjivan small finance bank, V-mart, Vijaya diagnostics, Wockhardt.

Updates:

Oil marketing companies: Govt of India reduced excise duty on petrol by Rs.5 & diesel by Rs.10 and also there has been matching cuts from most of the states which will increase the probability of increasing prices when global crude oil price rises.

Securities in BAN: ESCORTS, PNB.

Derivative View : VIX closed at 16.12 Max Put OI is at 17800 then 17700. Max Call OI is at 18000 then 18100. Option data suggests a trading range between 17700 to 18100.

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