Actionable: Buy Hindalco, Jubilant foodworks, LTI.

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.

Global market:
DOW:  +261
SGX NIFTY:   +90  (prev.close 16978)
NIFTY 50 : 16955
Sensex : 56930

Institution:
FII:                    -827 Cr
DII:                   +1593 Cr

NSE:
Advances: 2419 / Declines: 928

Currency:
Dollar: $ 75.55
Dollar Index: 96.06

Commodity:
Gold: $1807  per ounce
Crude: $75.50  per barrel

Bonds:
10 year US bond rate: 1.45
10 year Indian Bond rate: 6.46

Derivative:
PCR: 0.94
VIX:  16.58

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.

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