Insight Online News
From Advisory Desk : Vikash Sahay
28th December 2021
Market Outlook: US markets extended last week gains further by upto 1.4% on Monday, with the S&P 500 index closing at record highs after strong holiday sales report. Asian markets have started on positive note, with SGX Nifty is trading higher by 90 points. Crude oil prices rise to one month high as Omicron concern eases. Yesterday, Indian markets recovered smartly from day’s low after a gap down opening and closed in positive territory. Now Nifty has to sustain 17000 level for further upmove.
Actionable: Buy Dixon Tech, Max Healthcare, Deepak Nitrate.
IPO listing: Supriya Lifescience shares to start trading in exchanges today after oversubscribed by 41 times.
INITIATING COVERAGE: ERIS LIFESCIENCES |The Pharma Brand Master (ERIS IN, Mkt Cap USD1.2b, CMP INR685, TP INR870, 27% Upside, Buy)
SGX NIFTY: +90 (prev. close 17106)
NIFTY 50 : 17086
Sensex : 57420
FII: -1038 Cr
DII: +956 Cr
Advances: 2091 / Declines: 1389
Dollar: $ 75.00
Dollar Index: 96.13
Gold: $1810 per ounce
Crude: $78.15 per barrel
10 year US bond rate: 1.47
10 year Indian Bond rate: 6.47
Securities in Ban: ESCORTS, IDEA, IBULHSGFIN, RBL Bank.
Derivative View : VIX closed at 17.11. Immediate max Put OI is at 17000 then 16800. Max Call OI is at 17200 then 17300. Option data suggests a trading range between 16800 to 17300.