Actionable: Buy Axis Bank, SBI, Tech Mahindra, KEC International.

Insight Online News

From Advisory Desk : Vikash Sahay

26th October 2021

Market Outlook: S&P 500 & Dow Jones closed on life highs, powered by rally in Tesla shares after the order flow news and better than expected results. US futures are trading in positive and Asian markets too have started in green, with SGX Nifty is trading up by 50 points. FIIs were continued their selling from last week onwards amounting over Rs.10,000 crore. Yesterday, indian markets witnessed a volatile session and recovered from initial hour lows led by Nifty Bank after strong results from ICICI bank. We expect the Bank Nifty outperformance to continue however may see some profit booking at higher levels after the recent rally. Overall, the short term sentiment remains positive with immediate support at 17950 levels.

Actionable: Buy Axis Bank, SBI, Tech Mahindra, KEC International.

Global market:
DOW:  +64
SGX NIFTY:   +55  (prev.close 18141)
NIFTY 50 : 18125
Sensex : 60967

Institution:
FII:                     -2459 Cr
DII:                    +2390 Cr

NSE:
Advances: 1006 / Declines: 2363

Currency:
Dollar: $ 75.08
Dollar Index: 93.84

Commodity:
Gold: $1806  per ounce
Crude: $85.10  per barrel

Bonds:
10 year US bond rate: 1.64
10 year Indian Bond rate: 6.35

Derivative:
PCR: 0.79
VIX:  17.61

Today’s results announcement: Kotak mahindra bank, Axis bank, Cipla, Bajaj finance, Ambuja cements, Canara bank, Drlalpath labs, MGl, NAM india, Persistant systems, PI industries, torrent pharma, ABB, birlasoft, Central bank, Cera sanitaryware, Gati, Greaves cotton, Hikal, IRB infra, Mahindra life, MRPL, Sanofi, Shalby, Symphony, Zensar.

Results update:
Above estimates: Tech Mahindra, Ramco cements, Coforge, Indus towers, CSB Bank,
Inline estimates: Colpal, HDFC AMC, CEAT
Below estimates: SRF, Kansai nerolac

Securities in BAN: ESCORTS, IBULHSGFIN, NMDC, IEX, SAIL, SUNTV.

Derivative View : VIX closed at 17.61. Max Put OI is at 18000 then 17900. Max Call OI is at 18200 then 18300. Option data suggests a trading range between 17900 to 18300.

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