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Actionable: Buy ICICI Bank, Glenmark, Bata India Investment: Buy Britania

June 03
08:58 2020

From the Advisory Desk : Vikaah Sahay

03rd June 2020

Market Outlook: Dow Jones ended 250 points higher and Dow future is up by another 100 points in early trades. Asian markets are up by 1-2% and SGX Nifty was up by 85 points. VIX is at the level of 30. We have witnessed a stellar run on Nifty for more than 10% in one trading week and it has crossed the previous top of 9900 which shows the strength of the rally. We expect the next resistance at 10200-300.

Actionable: Buy ICICI Bank, Glenmark, Bata India
Investment: Buy Britania

Results Today: BPCL, Auro Pharma, Chola Investment and Finance
Results update:
Above estimates: Motherson Sumi, Britannia
Inline estimates: Granules India

Global market:
DOW: +267
SGX NIFTY: +100 (prev close 9979)
NIFTY 50 : 9979
Sensex : 33825

Institution:
FII: +7498 Cr
DII: +441 Cr

NSE:
Advances: 1732 / Declines: 725

Currency:
Dollar: $ 75.36

Commodity:
Gold: $1733 per ounce
Crude: $40.2 per barrel (up 1.60 %)

Bonds:
10 year US bond rate: 0.71
10 year Indian Bond rate: 6.00

Update:

Reliance Industries: As per media reports, Abu Dhabi’s Mubadala Investment is nearing a deal to invest about $1 billion into Jio Platforms. An announcement could come as soon as this week.

Derivative View – VIX closed at 30.11. Max Put OI is at 9900 then 9800 while Max Call OI is at 10000 then 10200 strike. Options data indicates a wider range between 9800 to 10200 zone.

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Fayim Md

Fayim Md

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