From Advisory Desk ; Vikash Sahay
19th July 2021
Market Outlook: SGX Nifty has opened lower by over 200 points due to concern of rising inflation. Nifty is expected to open around 15700 and the crucial support stands at 15400. FIIs continues to sell, amounting to Rs 7000 cr so far in the month. Asian markets too have started in red with over one percent. Overall, the markets may remain on lower end, but stock specific action will continue. Going forward, quarterly results will determine the next trend for markets.
Actionable: Buy Clean science, Havells, Tata steel
IPO Listing: Clean science and GR infraprojects shares to start trading in exchanges today after oversubscribed by 93 times and 103 times respectively.
INITIATING COVERAGE| Burger king : Whopper of an opportunity
( CMP INR168.95, TP INR210, 24% Upside, Buy)
SGX NIFTY: -230 (prev.close 15936)
NIFTY 50 : 15923
Sensex : 53140
FII: – 466 Cr
DII: +666 Cr
Advances: 1724 / Declines: 1485
Dollar: $ 74.56
Dollar Index: 92.73
Gold: $1815 per ounce
Crude: $72.65 per barrel
10 year US bond rate: 1.27
10 year Indian Bond rate: 6.13
Today’s results announcement: ACC, HCL technologies, Hdfc life, NAM- India, Indian bank, Mastek, Alok industries, PSP projects.
Tata power: Signs an agreement with HPCL to set up end-to-end EV charging stations at its petrol pumps in multiple cities and highways across the country. HPCL has over 18000 retail outlets as of date.
Just dial & Reliance industries: Reliance retail to acquire 67% stake in just dial for over Rs.5,720 crore including 25.3% of preferential issue, 15.6% from the promoters and 26% through open offer at a price of 1020 per share. Reliance retail holds 40.95% stake in the company and would make an open offer to acquire upto 26% stake in accordance with take over regulations.
Securities in BAN: IBULHSGFIN, IDEA, NMDC, PNB, SUNTV, SAIL.
Derivative View : VIX closed at 11.70. Max Put OI is at 15800 then 15600. Max Call OI is at 16000 then 15900. Option data suggests a trading range between 15600 to 16000.