From Advisory Desk : Vikash Sahay
30th September 2021
Market Outlook: US markets ended in mix. Asian markets too have started in mix, with SGX Nifty is trading lower by 50 points. Dollar index surged to one year high which is at 94.30 on expectations of early bond tapering and possible interest rate hikes in 2022. FIIs have been the net sellers in last three sessions amounting over Rs.4,000 cr. Today being a monthly expiry, we expect volatility to be higher with Nifty’s range to be 17600-17850 and Bank Nifty’s range to be 37300-38000. Auto stocks will be in focus a head of monthly sales number.
Actionable: Buy Coal india, Sun pharma, Tata chemicals.
Investment Idea: Buy Birla Corporation
Smart Technical basket ( Travel & Tourism): Buy Indian Hotels, United Spirits, Lemon Tree Hotels, Varun Beverages, VIP Industries, Mahindra Holidays, Easy Trip planners.
SGX NIFTY: -50 (prev.close 17705)
NIFTY 50 : 17711
Sensex : 59413
FII: -1896 Cr
DII: +3262 Cr
Advances: 1854 / Declines: 1432
Dollar: $ 74.15
Dollar Index: 94.31
Gold: $1730 per ounce
Crude: $77.85 per barrel
10 year US bond rate: 1.51
10 year Indian Bond rate: 6.21
HAL: Defence acquisition council has approved the acquisition of defense equipments worth total Rs 13,165 crore including 25 ALH Mark III helicopters worth Rs.3,850 crore and other proposals worth Rs.4,353 crore under the make in india plan.
Persistant systems: Company has entered into an agreement to acquire Software Corporation and its affiliate Fusion360 for about $53 Million and also acquired Shree Partners for approx $7 million, thereby expanding its cloud capabilities. Revenue contribution from the both the companies would be around 5%.
Zee entertainment: Invesco, the largest investor in the company has moved to NCLT for failing to announce a date for EGM seeking removal of the MD&CEO and reconstitution of the board. NCLT to hear the case today.
Securities in BAN: SUNTV.
Derivative View : VIX closed at 18.83. Max Put OI is at 17500 then 17600. Max Call OI is at 17900 then 17800. Option data suggests a trading range between 17500 to 17900.