Actionable: Buy HCL tech, JSW steel, Cummins.

From Advisory Desk : Vikash Sahay

11th August 2021
 
Market Outlook: Dow Jones closed on life high, after Senate approved $ 1.2 trillion infrastructure package. Metal sector will be benefited from this bill. However Asian markets have started in mix, with SGX Nifty trading slightly higher by 35 points. Small cap index has witness some profit booking over the last couple of trading session. Overall the market breadth is weak and one has to be very stock selective in this market. Nifty is expected to open around 16300.

Actionable: Buy HCL tech, JSW steel, Cummins.

Global market:
DOW:  +162
SGX NIFTY:   +25  (prev.close 16277)
NIFTY 50 : 16280
Sensex : 54554

Institution:
FII:                        -179 Cr
DII:                       +689 Cr

NSE:
Advances: 709 / Declines: 2559

Currency:
Dollar: $ 74.42
Dollar Index: 93.08

Commodity:
Gold: $1731  per ounce
Crude: $70.65  per barrel

Bonds:
10 year US bond rate: 1.35
10 year Indian Bond rate: 6.23

Derivative:
PCR: 0.91
VIX:  12.70
 
Today’s results announcement: Cadila healthcare, Bata india, Endurance, Pidilite industries, India cements, IDFC, Equities holdings, Force motors, Antony waste, Bajaj electricals, CESC, Credit access grameen, Cummins India, Greaves cotton, HEG, Kolte patil developers, MAS financials, New india assurance, Lemon tree hotels, praj industries, PTC india, PNC infratech, VIP industries, Wabag.

Results update:
Above estimates: JSPL, Coal india, power grid, IRB Infra, Ashoka buildcon
Inline estimates: Godrej Agrovet, Galaxy surfactants, V-mart
Below estimates:Motherson Sumi, Whirlpool, Manappuram finance, Siemens, Lupin

Updates:
 
Sugar stocks: Raw sugar futures on ICE surged to more than four years high on tuesday due to sugar production in the key centre south region of brazil dented by severe frosts and the worst drought, will lead to significant losses in sugar production which will support the prices.

Securities in BAN: CANBK, IBULHSGFIN, NALCO, PNB, RBL BANK, SUNTV, SAIL.
 
Derivative View : VIX closed at 12.70. Max Put OI is at 16000 then 16200. Max Call OI is at 16300 then 16400. Option data suggests a trading range between 16000 to 16400.

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