Actionable: Buy Bharat forge

From Advisory Desk : Vikash Sahay

3rd December 2020

Market Outlook: US markets recovered from a intraday low of 1% and closed flat. Asian markets is trading flat to positive. SGX Nifty is up by mere 20 points. Yesterday Metal, Realty and Auto were the gainers. However Banks and financial were the draggers. Today being a weekly expiry, Nifty is expected to be in the range of 13000-13250 and Bank Nifty to be in the range of 29000-30000.

Actionable: Buy Bharat forge

IPO: Burger King India
Date: 2 to 4 Dec.
Price Band: ₹ 59 – ₹ 60
Lot: 250 Shares

Global market:
DOW: +59
SGX NIFTY: +15 (prev.close 13154)
NIFTY 50 : 13113
Sensex : 44618

Institution:
FII: +357 Cr
DII: -1636 Cr

NSE:
Advances: 1693 / Declines: 1237

Currency:
Dollar: $ 73.80

Commodity:
Gold: $1831 per ounce
Crude: $48.10 per barrel

Bonds:
10 year US bond rate: 0.94
10 year Indian Bond rate: 5.92

Updates:

Wipro: Company announced that it has won a multi year contract from Verifone, a global leader in payments and commerce solutions, for its cloud services.

HDFC Life: UK’s Standard Life is looking to sell 2.78 crore shares in HDFC Life through block deals to raise up to 1680 crore at a price range of Rs.605-635.5 per share, which implies a discount of 0.03-5% to yesterday’s closing price.

Bharat forge: North America class 8 truck sales increased 3x YoY in November and MOM up by 31 % at 52,600.

Securities in Ban: NIL

Derivative View : VIX closed at 19.90. Max Put OI is at 13000 then 12900. Max Call OI is at 13200 then 13300. Option data suggests a trading range between 12900 to 13300

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