Actionable: Buy ICICI Bank, Bharti Airtel

Insight Online News

From Advisory Desk : Vikash Sahay

25th November 2021

Market Outlook: Asian Markets have started in mix, with SGX Nifty indicating a flat opening inspite of recovery in US markets led by tech companies. US dollar index continues its relentless surge and trading near 97 levels which is a concern for emerging markets. FIIs intensified their selling in cash segment amounting over Rs.5,000 yesterday and Rs.18,000 crores since last week. Yesterday, Indian markets witnessed selling pressure at higher level leads to sharp correction in the second of the day. Today being a monthly expiry, we expect volatility to be higher with Nifty’s range to be 17250-17550 and Bank Nifty’s range to be 36750-38000.

Actionable: Buy ICICI Bank, Bharti Airtel

Global market:
DOW:  -9
SGX NIFTY:   -30  (prev.close 17410)
NIFTY 50 : 17415
Sensex : 58340

Institution:
FII:                    -5123 Cr
DII:                   +3810 Cr

NSE:
Advances: 1982 / Declines: 1308

Currency:
Dollar: $ 74.40
Dollar Index: 96.78

Commodity:
Gold: $1794  per ounce
Crude: $82.25  per barrel

Bonds:
10 year US bond rate: 1.64
10 year Indian Bond rate: 6.37

Derivative:
PCR: 0.91
VIX:  17.09

Updates:

Dixon technologies: Acer india, the leading PC brand and Dixon technologies have partnered for the manufacturing of laptops under Make in India initiative at Dixon’s manufacturing facility at Noida. The factory will have the capacity to produce up to 5lakhs laptops annually.

Reliance industries: Company plans to restructure and repurpose gasification assets. The company has decided to implement a scheme of arrangement to transfer Gasification undertaking into a wholly owned subsidiary. The scheme will also enable company to evaluate unlocking the value of syngas.

Securities in Ban:  ESCORTS, IBULHSGFIN.

Derivative View : VIX closed at 17.09. Max Put OI is at 17300 then 17200. Max Call OI is at 17500 then 17600. Option data suggests a trading range between 17200 to 17600.

Leave a Reply

Your email address will not be published. Required fields are marked *