Insight Online News
From Advisory Desk : Vikash Sahay
23rd December 2021
Market Outlook: US markets closed higher for the second straight day after upbeat economic data and the white house said it was resuming talks with a holdout senator to clear the social spending bill. Asian markets have started on positive note, with SGX Nifty is trading higher by 90 points. FIIs continued their selling in cash, however yesterday reduced the amount to below 1000cr. So far we have seen a good recovery in the markets led by short covering and now follow-up buying required for further up move from hereon. Today being weekly expiry, we expect the Nifty’s range to be 16850-17150 and Bank nifty’s range to be 34600-35500 .
Actionable: Buy Hindalco, Jubilant foodworks, LTI.
IPO listing: Medplus Health services shares to start trading in exchanges today after oversubscribed by 52 times.
SGX NIFTY: +90 (prev.close 16978)
NIFTY 50 : 16955
Sensex : 56930
FII: -827 Cr
DII: +1593 Cr
Advances: 2419 / Declines: 928
Dollar: $ 75.55
Dollar Index: 96.06
Gold: $1807 per ounce
Crude: $75.50 per barrel
10 year US bond rate: 1.45
10 year Indian Bond rate: 6.46
Securities in Ban: ESCORTS, IDEA, IBULHSGFIN, ZEE Entertainment.
Derivative View : VIX closed at 16.58. Immediate max Put OI is at 16800 then 16900. Max Call OI is at 17200 then 17100. Option data suggests a trading range between 16800 to 17200.