Actionable: Buy  Hcl Tech, Mahindra Life space.

Insight Online News

From Advisory Desk : Vikash Sahay

7th September 2021

 Market Outlook: Today, Nifty is expected to open flat around 17,370 on back of global cues. Yesterday, the indian markets started higher but couldn’t hold on the early gains in the second half of the day due to weakness in Nifty Bank after one of RBI member expressed concern over higher inflation going forward. Nifty Bank’s underperformance over Nifty continues for quite some time and expecting it to reduce if it holds above 37,000 level. Overall, markets are in strong uptrending zone and one should remain very stock selective at this level.

 
Actionable: Buy  Hcl Tech, Mahindra Life space.

INITIATING COVERAGE: APL APOLLO TUBES |The new normal|
(APAT IN, Mkt Cap USD2.9b, CMP INR1702, TP INR2065, 21% Upside, Buy)

Global market:
DOW:  -74 (unchanged)
SGX NIFTY:  -10  (prev.close 17419)
NIFTY 50 : 17377
Sensex : 58296

Institution:
FII:                      -589 Cr
DII:                     +547 Cr

NSE:
Advances: 1643 / Declines: 1686

Currency:
Dollar: $ 73.11
Dollar Index: 92.11

Commodity:
Gold: $1828  per ounce
Crude: $72.40  per barrel

Bonds:
10 year US bond rate: 1.34
10 year Indian Bond rate: 6.17

Derivative:
PCR: 0.90
VIX:  15.10

Securities in BAN: IBUHSGFIN, NALCO.

Derivative View : VIX closed at 15.10. Max Put OI is at 17300 then 17100. Max Call OI is at 17500 then 17400. Option data suggests a trading range between 17100 to 17500.

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