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Actionable : Buy ICICI Bank , Voltas , Bata , Bajaj Finance

Actionable : Buy ICICI Bank , Voltas , Bata , Bajaj Finance
June 24
05:20 2019
Vikash Sahay

Vikash Sahay

From Advisory Desk: Vikash Sahay

24-June:

Market Outlook : Global market cues are of flat opening. Last week crude prices spiked due to issues in Middle East. On Friday Nifty failed to hold previous day’s gain and corrected towards 11700 levels. We expect Indian markets to remain in the range of 11650 to 11850. Only a breakout on the higher end of the range would give a strong upmove. Markets would watch developments at G20 Submit this week, Union Budget scheduled on 5th July and the progress of Monsoon.

Motilal Oswal

The GST Council reduced Tax Rates on Electric Vehicle Charger from 18 % to 12 % . There were no change in slab for cement sector as was being expected and this can build some pressure on Cement stocks .

Actionable : Buy ICICI Bank , Voltas , Bata , Bajaj Finance

IPO Alert : IndiaMart Intermesh Ltd . Price band Rs 970- Rs 973 . issue date : 24th June to 26th June .

Global market:
DOW: -34
SGX NIFTY: +5
NIFTY 50: 11724
Sensex : 39194

Institution:
FII: -731 Cr
DII: +445 Cr

Currency:
Dollar: 69.57

Commodity:
Gold: $ 1410 per ounce ( up by $110 in one month)
Crude: $ 65.47 per barrel

Bonds:
10 year US bond rate: 2.05 percent
10 year Indian Bond rate: 6.85 percent

Updates :

RBI will Purchase Rs 13500 cr Govt securities via OMO on 25th June. this is in addition to Rs 12500 Cr and Rs 15000 Cr purchased on 20th June and 13th June respectively .

USA denies any plan to place a cap on H-1B visa . Positive for IT sector .

CCI approves IndiaBulls housing and Laxmi Vilas Bank . Shareholders of Bank will get 14 shares for every 100 held.

Derivative View – VIX closed at 14.61. Call writing is seen at 12000 then 11800 strike while Put writing is seen at 11650 then 11500 strike. Option data suggests a trading range in between 11600 to 11900 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 L&T, ICICI Bank, Titan, Bajaj Finance, Bata India.

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