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Actionable – Buy ICICI Bank, HDFC Ltd & HUL.

Actionable – Buy ICICI Bank, HDFC Ltd & HUL.
October 17
05:29 2019

From Advisory Desk : Vikash Sahay

17 Oct 2019 : Market Outlook – US closed flat after US President Donald Trump said trade deal with China probably will not be signed until he meets with Chinese President Xi Jinping at the APEC summit in next month.

Motilal Oswal

Asian Market are trading mixed, Back in local markets trend would be very stock specific and driven largely as per the quarterly numbers. FII have become net buyers for last couple of days and bought stocks worth around 3000 Cr in last 4 session. Outlook for the day remains range bound with positive bias within the range of 11300-11550.

Actionable – Buy ICICI Bank, HDFC Ltd & HUL.

Results today: TVS Motors, Zee Entertainment, South Indian Bank, PVR.

Results update:
Federal Bank: Q2 results misses the estimates, weak loan growth ,NIMs and higher provisions impacted profits, asset quality deteriorates further to 3.07% GNPA and fresh slippages may increase due to high exposure to NBFC,HFC and real companies which is around 18% of the wholesale book .

Mind tree: Reported largely inline results with expectations in Q2.Revenue beats the estimates while margins and high attrition levels are a concern for the company in near term.

Global market:
DOW: -22
SGX NIFTY: -5 (prev.close 11486)
NIFTY 50 : 11464
Sensex : 38598

Institution:
FII: +686 Cr
DII: +1605 Cr

Currency:
Dollar: $ 71.36

Commodity:
Gold: $1492 per ounce
Crude: $59 per barrel

Bonds:
10 year US bond rate: 1.75
10 year Indian Bond rate: 6.65

Updates –

US based Aluminum company ALCOA reduced the global aluminum demand outlook from 1.2% growth to -0.6% due to week macroeconomic and trade war issues. Negative for hindalco and nalco.

Derivative View – VIX closed at 16.36. Max Put OI is at 11400 then 11300 strike while Max Call OI is at 11500 then 11600 strike. Option data suggests a wider trading range in between 11300 to 11600 zone.

Vikash Ranjan Sahay, Founder & CEO , Value Management Solution P Ltd, (Exclusive Business Partner of MotiLal Oswal)

Mr. Vikash Sahay can be contacted at +91 9471133334

Actionable: Buy ICICI Bank, Asian Paints, HUL Results Today: Mindtree , Federal Bank

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