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)
DOW: -74 (unchanged)
SGX NIFTY: -10 (prev.close 17419)
NIFTY 50 : 17377
Sensex : 58296
FII: -589 Cr
DII: +547 Cr
Advances: 1643 / Declines: 1686
Dollar: $ 73.11
Dollar Index: 92.11
Gold: $1828 per ounce
Crude: $72.40 per barrel
10 year US bond rate: 1.34
10 year Indian Bond rate: 6.17
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.