Actionable: Buy DLF, Federal Bank, ABFRL, Titan.

Insight Online News

From Advisory Desk : Vikash Sahay

3rd November 2021

Market Outlook: US markets closed at record highs for a third consecutive day ahead of FED decision on bond tapering. Asian markets have started in mix, with SGX Nifty is trading higher by 60 points. FIIs have turned net buyers yesterday, after ten consecutive days as sellers in cash. Yesterday, Nifty opened positive but failed to hold initial gains and then witnessed profit booking, majorly dragged by metal stocks. Consumer demand during the ongoing festive season is pretty strong for sectors like Gold, Real estate, clothing and retail segments. Today being weekly expiry and ahead of long truncated week, we expect volatility to be higher with Nifty’s range to be 17700-18100 and Banknifty’s range to be 39500-40500.

Actionable: Buy DLF, Federal Bank, ABFRL, Titan.

Global market:
DOW:  +138
SGX NIFTY:   +60  (prev.close 17921)
NIFTY 50 : 17888
Sensex : 60029

Institution:
FII:                    +245 Cr
DII:                    -6 Cr

NSE:
Advances: 1936 / Declines: 1332

Currency:
Dollar: $ 74.68
Dollar Index: 94.08

Commodity:
Gold: $1784  per ounce
Crude: $83.40  per barrel

Bonds:
10 year US bond rate: 1.55
10 year Indian Bond rate: 6.36

Derivative:
PCR: 0.92
VIX:  17.06

Today’s results announcement: SBI, Eicher motors, ABFRL, Bata, GSPL, Pfizer, DCM Shriram industries, Mold-tek packaging, Uflex.

Results update:
Above estimates: Dabur, Sun pharma, Bharti airtel, Trent
Inline estimates: Union bank of india, HPCL
Below estimates: Jyothy labs, PNB housing finance

Updates:

HAL, BEL, BHEL: The Defence Acquisition Council has approved acquisition proposals for modernisation and operational needs of the forces amounting to Rs 7,965 crore, including 12 LUH helicopters, Lynx U2 naval gunfire control system and upgraded super rapid gun mount.

HDFC Life & Exide Life: CCI approves acquisition of 100% equity share capital of Exide Life Insurance Company Limited by HDFC Life Insurance Company Limited and the subsequent merger of Exide Life with HDFC Life.

Securities in BAN: ESCORTS, PNB.

Derivative View : VIX closed at 17.06. Max Put OI is at 17800 then 17700. Max Call OI is at 18000 then 18100. Option data suggests a trading range between 17700 to 18100.

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