Actionable: Buy Bharti Airtel, Coforge

Insight Online News

From Advisory Desk : Vikash Sahay

26th November 2021
 
Market Outlook: US Futures is trading lower by 1 % and Asian markets have started trading in red, with SGX Nifty is indicating a weak opening as concerns of new variant of virus emerges in different parts of the world. Nov Nifty rollover was at 82% which is in line with three months average but seems more on the short side. Yesterday, Nifty recovered smartly from first hour lows and closed above 17500 mark with strong positive bias, majorly led by Reliance industries. Bank nifty’s under performance over Nifty continues for quite some time and expected it to reduce going forward. However, we remain cautious on markets and advice very selective stock picking.
 
Actionable: Buy Bharti Airtel, Coforge.
 
IPO Listing: Tarsons Products shares to start trading in exchanges today after oversubscribed by 77 times.
 
Global market:
DOW:  35804 (unchanged)
SGX NIFTY:   -85  (prev.close 17577)
NIFTY 50 : 17536
Sensex : 58795

Institution:
FII:                    -2301 Cr
DII:                   +1368 Cr

NSE:
Advances: 2082 / Declines: 1215

Currency:
Dollar: $ 74.51
Dollar Index: 96.70

Commodity:
Gold: $1791  per ounce
Crude: $81.25  per barrel

Bonds:
10 year US bond rate: 1.59
10 year Indian Bond rate: 6.37

Derivative:
PCR: 0.95
VIX:  16.66
Securities in Ban:  NIL.
 
Derivative View : VIX closed at 16.66. Max Put OI is at 17400 then 17300. Max Call OI is at 17600 then 17700. Option data suggests a trading range between 17300 to 17700.

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