From Advisory Desk : Vikash Sahay
30th October 2020 : Market Outlook: US market recovered from an intraday low and closed in green by half a percent. Asian markets starts lower by a percent and SGX Nifty is down by 40 points. Despite correction in last few days, long rollover has taken place in Nifty. Nifty rollover has been above quaterly average, whereas Bank nifty which had outperform nifty in October series has seen lower rollover than the quaterly average. November series will be driven by US election outcome, festive consumption demand & news on Covid vaccine development. One should remain stock specific during this series.
Actionable: Buy Havells, Asian Paints, Pidilite
SGX NIFTY: -35 (prev.close 11665)
NIFTY 50 : 11670
Sensex : 39749
FII: -421 Cr
DII: -253 Cr
Advances: 998 / Declines: 1610
Dollar: $ 74.10
Gold: $1874 per ounce
Crude: $38.55 per barrel
10 year US bond rate: 0.82
10 year Indian Bond rate: 5.88
Today’s results announcement: Reliance industries, IOC, UPL, Indusind bank, DLF, JSPL, Max financial services, Deepak nitrite, Dixon technologies, IFB industries, NIIT ltd, LT Foods, Dhanuka Agri, Just dial, Quess corp, Rain industries, Suven pharma.
Above estimates: Laurus labs, Havells india, BPCL, TVS motors
Inline estimates: Indigo
Below estimates: Strides pharma, Maruti, Tata chemicals
Tata Group stocks: Mistry family proposes share swap in listed entities of Tata group in lieu of SP group stake in Tata sons.
HPCL: Board to consider share buyback on November 4.
Securities in Ban: NIL
Derivative View : VIX closed at 24.02. Max Put OI is at 11600 then 11500. Max Call OI is at 11200 then 11900. Option data suggests a trading range between 11500 to 12000.