Actionable: Buy ICICI Bank, SBIN, M&M, Ultratech Cement.

Insight Online News

From Advisory Desk : Vikas Sahay

9th September 2022
 
Market Outlook: US market recovered smartly from intraday lows despite hawkish comment from Fed chair and an unprecended increase of interest rate by ECB. Asian market started with strong note, SGX nifty indicating gap up opening and US futures showing modest gains. Indian market sentiment boosted by consistent FII’s inflows, Lower crude oil prices, and recovery of global market from lows. Nifty has to hold above 17777 zones, for an up move towards 18000 and 18200 zones whereas support is placed at 17667 and 17550 zones.
 
Actionable: Buy ICICI Bank, SBIN, M&M, Ultratech Cement.
 
Global market:
DOW: +193
SGX NIFTY: +80 (prev.close 17819)
NIFTY 50 : 17798
SENSEX : 59688
 
Institution:
FII: + 2913 Cr
DII: – 213 Cr
 
NSE:
Advances: 2042 / Declines: 1437
 
Currency:
Dollar: $ 79.71
Dollar Index: 109.13
 
Commodity:
Gold: $1727 per ounce
Crude: $89.35 per barrel
 
Bonds:
10 year US bond rate: 3.31
10 year Indian Bond rate: 7.13
 
Derivative:
PCR: 0.97
VIX: 18.30
 
Updates:
 
Rice Stocks – Government to impose 20% tax on exports of non-basmati variety of rice.
 
Samvardhana Motherson International – Company signed a long-term agreement with Daimler India Commercial Vehicles (DICV) for supply of complete frame assembly.
 
PNC Infratech – Company signed concession agreement for a HAM project with NHAI for bid project cost of Rs. 1458.0 cr
 
Securities in Ban: Delta Corp.
 
Derivative View: Immediate max Put OI is at 17000 and 17500 and max Call OI is at 18000 and 18500. Option data suggests a shift in trading range in between 17300 to 18200.

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