From Advisory Desk : Vikash Sahay
Market Outlook: SGX Nifty has opened higher by 150 points. Nifty is expected to open above 15800 as CPI inflation number at 6.26% was lower than expected and US market closing at record high. However Nifty has been facing resistance for quite sometime at 15900. The quarterly results will determine the next range of Nifty. FIIs continue to sell and Gold above $ 1800. Asian markets started higher by upto one percent.
Actionable: Buy Havells, Sunteck & Tata Chemicals.
SGX NIFTY: +125 (prev.close 15688)
NIFTY 50 : 15692
Sensex : 52372
FII: -746 Cr
DII: +447 Cr
Advances: 2022 / Declines: 1316
Dollar: $ 74.57
Dollar Index: 92.21
Gold: $1809 per ounce
Crude: $75.35 per barrel
10 year US bond rate: 1.37
10 year Indian Bond rate: 6.22
Today’s results announcement: Mindtree, Tata metaliks.
Telecom Sector: As per TRAI’s data, Industry growth slows down in April month due to lockdown impact. Reliance Jio & Bharti airtel added 4.8m & 0.5 million wireless subscribers in April vs 7.9 & 4 million subscribers in March. Vodafone idea additions turned negative after remaining positive for two months in a row, 1.8m subscribers declined in April vs 1.1m addition in March.
Shilpa medicare: Company has approved to spin-off its API business into 100% subsidiary company which contributes around 70% of the total sales of the company.
Securities in BAN: GRANULES, IBULHSGFIN, IDEA, NALCO, NMDC, PNB, SAIL.
Derivative View : VIX closed at 12.99. Max Put OI is at 15700 then 15500. Max Call OI is at 15800 then 15900. Option data suggests a trading range between 15500 to 15900.