Actionable: Buy Havells & Berger paints.

From Advisory Desk : Vikash Sahay

22nd July 2021
 
Market Outlook: Nifty is expected to open around 15700 on back of smart recovery in global markets and strong quaterly numbers. Today for weekly expiry, we expect Nifty’s range to be 15600-15850 and Bank Nifty’s range to be 34000-35000. Asian markets too are trading upto one percent. FIIs have sold over in cash 12000 cr in the month so far. However retail participation has been overwhelming in primary and secondary markets. As quarterly results unfold, markets will shape accordingly.

Actionable: Buy Havells & Berger paints.

Global market:
DOW:  +286
SGX NIFTY:   +100  (prev.close 15610)
NIFTY 50 : 15632
Sensex : 52198

Institution:
FII:                      -2835 Cr
DII:                     +873 Cr

NSE:
Advances: 1099 / Declines: 2147

Currency:
Dollar: $ 74.62
Dollar Index: 92.83

Commodity:
Gold: $1800  per ounce
Crude: $71.90  per barrel

Bonds:
10 year US bond rate: 1.29
10 year Indian Bond rate: 6.12

Derivative:
PCR: 0.90
VIX:  13.20

Today’s results announcement: HUL, Ultratech cement, Bajaj auto, Biocon, Can fin homes, CSB bank, Hindustan zinc, Heidelberg cement, ICICI lombard, IIFL securities, India mart, Mphasis, Persistant systems, Chennai petroleum corporation, IEX, India pesticides, Mahindra EPC, south Indian bank, sterlite technologies, wockhardt.

Updates:

Wipro: Announced the launch of Wipro FullStride Cloud Services and its commitment to invest $1 billion in cloud technologies, capabilities, acquisitions and partnerships over the next three years.

IDFC: RBI has allowed the company to exit as a promoter of IDFC First Bank ltd which will pave the way for a potential reverse merger between IDFC and IDFC first bank leads to collapse of holding structure. This five year lock-in period ended on Sep 30th, 2020.

Cadila healthcare: Receives tentative approval from the USFDA for Ibrutinib Tablets( Treats certain types of cancer) which had sales of more than $ 3 billion in 12 months period including both Capsules and Tablets forms. Also, European medicines agency Grant’s Orphan Drug designation to Saroglitazer Mg for the treatment of patients with primary biliary cholangitis.

Glenmark pharma: Glenmark life sciences, subsidiary of the glenmark pharma, will open its IPO for subscription on July 27th and closes on July 29 th. The Rs.1514 crore IPO issued at a price band of Rs.695- 720 per share.

Securities in BAN: CANBK, CADILAHC, IBULHSGFIN, NMDC, NALCO, SUNTV.

Derivative View : VIX closed at 13.20. Max Put OI is at 15500 then 15600. Max Call OI is at 15800 then 15700. Option data suggests a trading range between 15500 to 15800.

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