Actionable: Buy ICICI Bank, Hindalco, Tata motors.

Insight Online News

From Advisory Desk : Vikash Sahay

4th January 2022

Market Outlook: US markets closed at record high’s led by rally in Tesla shares after the strong deliveries in Q3 and easing investors worries about the new variant. Asian markets have started on a flat to positive note, with SGX Nifty is indicating a flat opening. Both FIIs and DIIs remained as net buyer for the second consecutive day. Yesterday, Indian markets began the new year on a high note with strong market breadth. Bank Nifty setup is looking good and expected to move further towards 37500 levels. We expect the positive momentum to continue however profit booking may not be ruled out at higher levels after the recent rally. Overall, the trend changing level for Nifty to remain at 17200.

Actionable: Buy ICICI Bank, Hindalco, Tata motors.

Global market:
DOW:  +246
SGX NIFTY:   -10  (prev.close 17697)
NIFTY 50 : 17625
Sensex : 59183

Institution:
FII:                    +903 Cr
DII:                   +803 Cr

NSE:
Advances: 2672 / Declines: 894

Currency:
Dollar: $ 74.26
Dollar Index: 96.18

Commodity:
Gold: $1804  per ounce
Crude: $79.15  per barrel

Bonds:
10 year US bond rate: 1.63
10 year Indian Bond rate: 6.46

Derivative:
PCR: 0.85
VIX:  16.45

Updates:

Marico Q3 Update: Co says domestic revenue growth in the quarter was in double digits with flat volume growth. However, consolidated revenue grew in low teens aided by high teen constant currency growth in International business. And also says Q3 was characterized by slowing consumption patterns which affected sector as a whole. Slowing consumption was mainly due to continuing inflation impacting overall disposable income.

M&M financial services: Company had given monthly business update for Dec month. The total disbursements at Rs.2750 crore delivered 42% YoY growth and collection efficiency improved to 100% from 94% in November month. This resulted in further reduction in the NPA contracts during the month and expecting the downward trajectory to continue in coming months.

Securities in Ban: Nil.

Derivative View : VIX closed at 16.45. Immediate max Put OI is at 17500 then 17600. Max Call OI is at 17800 then 17700. Option data suggests a trading range between 17500 to 17800.

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