31st December 2020 : Market Outlook ; Markets are welcoming 2021 by closing at record levels. The Mometum seen in last couple of months is likely to sustain in 2021 as well. Today, SGX Nifty is trading flat. Dollar index continue to weaken further and trading at mulit year lows 89.48. Today being a monthly expiry, we expect the range of Nifty to be 13850-14100 and Bank nifty to be 30800-31750.
Actionable: Buy Bajaj Finance, Oberoi Realty, Tata Steel.
SGX NIFTY: -1 (prev.close 13981)
NIFTY 50 : 13981
Sensex : 47746
FII: +1825 Cr
DII: -587 Cr
Advances: 1650 / Declines: 1313
Dollar: $ 73.30
Gold: $1901 per ounce
Crude: $51.50 per barrel
10 year US bond rate: 0.93
10 year Indian Bond rate: 5.90
Vedanta: Company has emerged as the highest bidder for the Radhikapur West coal block in Odisha. The mine has total reserves of 312 million tonnes and an approved per annum extraction capacity of 6 million tonnes.
Securities in Ban: PNB, CANBK.
Derivative View : VIX closed at 21.11. Max Put OI is at 13900 then 13800. Max Call OI is at 14000 then 14100. Option data suggests a trading range between 13800 to 14100.