Actionable: Buy Axis Bank, Ramco cements, Godrej CP and Cummins

From Advisory Desk : Vikash Sahay

16th June 2021
 
Market outlook: US markets closed half a percent lower, ahead of FED policy announcement. The markets will keenly watch the commentary on inflation and interest rates. Asian markets too started lower by a quarter percent, including SGX Nifty. VIX is below the level of 15 and Nifty managed to close at life high. The broader range for Nifty is expected to be 15200-16000.

Actionable: Buy Axis Bank, Ramco cements, Godrej CP and Cummins

Global market:
DOW:  -94
SGX NIFTY:   -10  (prev.close 15854)
NIFTY 50 : 15869
Sensex : 52773

Institution:
FII:                      +634 Cr
DII:                      -649 Cr

NSE:
Advances: 1896 / Declines: 1328

Currency:
Dollar: $ 73.31
Dollar Index: 90.55

Commodity:
Gold: $1856  per ounce
Crude: $74.60  per barrel

Bonds:
10 year US bond rate: 1.50
10 year Indian Bond rate: 6.04

Derivative:
PCR: 0.90
VIX:  14.60
 
Updates:
 
Dr reddy’s: Company has received an arbitration award from the US based international center for dispute resolution whereby a subsidiary has been asked to pay an amount of Rs.340 crore to Hatchtech pty ltd as part of asset purchase agreement between the two parties in 2015 which has already been accounted for and charged off in the company’s financial statements for the financial year 2020-21.

Wipro: Announced it has extended its partnership with Levi Strauss to support digital commerce. Also, collaborated with FEV to open innovative labs for developing software defined vehicles.

KEC international: Company has secured new orders worth of Rs.937 crores across its various businesses.

Securities in BAN: ADANIPORTS, CANBK, ESCORTS, NALCO, PNB, SUNTV.
 
Derivative View : VIX closed at 14.71. Max Put OI is at 15800 then 15700. Max Call OI is at 16000 then 15900. Option data suggests a trading range between 15700 to 16000.

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