Actionable: Buy ICICI Bank, SAIL, Infosys

From Advisory Desk : Vikash Sahay

29th July 2021

Market Outlook: FED continues its monthly bond buying of $120 bn and maintain it’s dovish stand on interest rates. Asian markets have started higher by a half a percent. SGX Nifty is flat. Today being monthly expiry, Nifty is expected to be in the range of 15600-15850 and Bank Nifty in the range of 34000-35000. Stock commodities like textile, paper and sugar are in momentum and should do well.

Actionable: Buy ICICI Bank, SAIL, Infosys

IPO Listing: Tatva Chintan Pharma shares to start trading in exchanges today after oversubscribed by 180 times.

Global market:
DOW:  -127
SGX NIFTY:   +10  (prev.close 15707)
NIFTY 50 : 15709
Sensex : 52443

Institution:
FII:                      -2275 Cr
DII:                      +921 Cr

NSE:
Advances: 1375 / Declines: 1842

Currency:
Dollar: $ 74.38
Dollar Index: 92.25

Commodity:
Gold: $1815  per ounce
Crude: $73.80  per barrel

Bonds:
10 year US bond rate: 1.23
10 year Indian Bond rate: 6.19

Derivative:
PCR: 0.92
VIX:  13.69

Today’s results announcement: Tech mahindra, TVs motors, Colgate, Lic housing, PVR, Ajanta pharma, Aavas financiers, Container corp, Dwarikesh sugar  Eris Eris lifesciences, Future retail, Indus towers, JK lakshmi cement, Jindal stainless, Jyothy labs, Laurus labs, Mahindra holidays, Motilal oswal financial services, Oberoi realty, Raymond, Shoppers stop, Shriram city union finance, welspun corp.

Results update:
Above estimates: Coforge, SRF, MGL, United Breweries, Teamlease, sagar cements, UTI AMC,
Inline estimates: ABB india Happiest minds, Birlasoft
Below estimates: Maruti suzuki, Nestle india, ramco systems

Updates:

IT Companies: Cognizant, a leading global IT services, announced a strong Q2 results led by financial and health segments and also increased CC revenue guidance to 9-10% vs 5.5-7.5% earlier, including 300 bps from acquisitions.

Biocon: USFDA approves first interchangeable Biosimilar insulin product( Semglee) for the treatment of diabetes to Mylan pharma. Semglee is interchangeable with its reference product Labtus( insulin glargine), a long acting insulin analog. Approval of these insulin can provide patients with additional safe, high quality and cost effective options without the intervention of the prescriber. Mylan is Biocon’s partner.

Securities in BAN: IDEA, SUNTV.
 
Derivative View : VIX closed at 13.69. Max Put OI is at 15700 then 15600. Max Call OI is at 15900 then 15800. Option data suggests a trading range between 15600 to 15900.

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