From Advisory Desk : Vikash Sahay
9th July 2021
Market Outlook: SGX Nifty has started 75 points lower, indicating Nifty to open slightly above 15600 as concerns of Delta variant of virus emerges in different part of the world. VIX spiked by 11% to 13.5 level. Asian markets are trading lower by 1-2%. Dow slided 0.75% and Dow futures is trading another 0.3% lower. In midst of Delta variant, Investors found confidence in gold, hence its trading above $ 1800. Nifty’s crucial support is at 15400.
Actionable: Buy CDSL & Tata Chemical.
SGX NIFTY: -50 (prev.close 15709)
NIFTY 50 : 15727
Sensex : 52568
FII: -555 Cr
DII: -949 Cr
Advances: 1360 / Declines: 1831
Dollar: $ 74.70
Dollar Index: 92.41
Gold: $1806 per ounce
Crude: $73.95 per barrel
10 year US bond rate: 1.31
10 year Indian Bond rate: 6.12
Today’s results announcement: Delta corp
Inline estimates: TCS
Life insurance industry update : Industry reported overall APE growth of 10% YoY in June Month. Among listed players, IPRU & Max Life reported strong growth of 43% YoY and 17% YoY, respectively. SBI Life grew at 12.5% YoY. On the other hand, HDFC Life posted flattish growth.
Securities in BAN: IBULHSGFIN, NALCO, NMDC, PNB, SAIL.
Derivative View : VIX closed at 13.56. Max Put OI is at 15500 then 15600. Max Call OI is at 15800 then 15900. Option data suggests a trading range between 15500 to 15900.