Actionable : Buy HUL, Grasim, Bajaj Electrical

From Advisory Desk : Vikash Sahay

13th November 2020 : Market Outlook: Few states and cities in US are witnessing new restrictions due to resurgence in COVID-19 cases. Hence Dow Jones and NASDAQ ended a percent lower and Dow future is trading 100 points lower. Asian markets too are trading a percent lower due to pressure from US and Europe new lockdown. SGX Nifty is down by 100 points as the market had run a lot in last 8 days and hence some profit booking is expected. Also, CPI is at 7.61% which is higher than the normal average.

Actionable: Buy HUL, Grasim, Bajaj Electrical

Global market:
DOW: -317
SGX NIFTY: -100 (prev.close 12747)
NIFTY 50 : 12690
Sensex : 4335

Institution:
FII: +1514 Cr
DII: -2239 Cr

NSE:
Advances: 1521 / Declines: 1176

Currency:
Dollar: $ 74.65

Commodity:
Gold: $1878 per ounce
Crude: $42.75 per barrel

Bonds:
10 year US bond rate: 0.88
10 year Indian Bond rate: 5.90

Today’s results announcement: ONGC, Tata steel, HAL, GIC, Eveready holdings, Repco home finance, india bulls real estate.

Updates:

Grasim industries: Board approved the disinvestment of the company’s fertilisers business, for a cash consideration of Rs. 2,649 cr to Indorama corporation ltd. Co says the divestment of the fertiliser business is a significant value unlocking exercise and it will further enable the company to pursue growth opportunities in its core businesses.

Results update:
Above estimates: IPCA labs, MGL, Jubilant food works, Grasim industries, page industries

Securities in Ban: JINDALSTEL, BHEL, CANARA BANK, IBULHSGFIN, LIC HOUSING FINANCE, SAIL, SUN TV, TATA MOTORS.

Derivative View : VIX closed at 20.62. Max Put OI is at 12600 then 12500. Max Call OI is at 13000 then 12700. Option data suggests a trading range between 12500 to 13000.

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