From Advisory Desk : Vikash Sahay
14th July 2021
Market Outlook: Nifty is expected to open slightly below 15800 as SGX Nifty is trading 50 points lower. Nifty continues to face resistance at 15900 level. Gold surged above $ 1810 and crude is trading at 3 years high. US markets closed a quarter percent lower as bond yield spiked above 1.40% due to concern over consumer inflation data. Asian markets too have started half a percent lower.
Actionable: Buy ICICI Bank, Greaves cotton, Grasim & Shobha developers.
Zomato Ltd ( Subscribe for listing gains): IPO opens today for subscription and closes on 16th July, 2021. IPO issued at a price band of Rs.72-76 per share.
SGX NIFTY: -40 (prev.close 15834)
NIFTY 50 : 15812
Sensex : 52769
FII: +114 Cr
DII: +344 Cr
Advances: 1818 / Declines: 1419
Dollar: $ 74.49
Dollar Index: 92.75
Gold: $1809 per ounce
Crude: $76.35 per barrel
10 year US bond rate: 1.40
10 year Indian Bond rate: 6.10
Today’s results announcement: Infosys, LTTS, Dodla dairy, Hatsun agro, Tinplate.
Inline Estimates: Mindtree
NMDC: Board has approved demerger between the company and NMDC steel in the ratio of 1:1 subject to approval from shareholders and SEBI.
Auto sector: Maharashtra govt unveils revised EV policy in a move for clear environment. Govt aims at 10% of newly registered vehicles by 2025. Also, sets target to have around 1500 charging stations in mumbai itself by 2025 along with converting 15% of MSRTC buses to electric. Govt announced demand and supply side incentives to generate demand, incentives will include Rs. 5,000 per kwh of battery and max incentives for two wheelers is Rs.10,000 and Rs.30,000 for three wheelers over and above FAME II incentives.
Securities in BAN: GRANULES, IDEA, NALCO, NMDC, PNB, SUNTV, SAIL.
Derivative View : VIX closed at 12.62. Max Put OI is at 15700 then 15600. Max Call OI is at 16000 then 15900. Option data suggests a trading range between 15600 to 16000.