From Advisory Desk ; Vikash Sahay
2nd November 2020 : Market Outlook: Strong resurgence in covid cases which is creating rout in US and European Capital Markets. Asian markets are trading in mix with SGX Nifty holding gain of 35 points which is supported by strong auto sales number for October which is ahead of expectations and GST collections has crossed 1 lac mark 1st time after pandemic. Since this is the week wherein US elections is taking place, hence one can expect volatility as the voltility index in US & India are near to break out level.
Actionable: Buy ICICI Bank, Max Financial, CDSL, Godrej Properties
SGX NIFTY: +30 (prev.close 11635)
NIFTY 50 : 11642
Sensex : 39614
FII: -871 Cr
DII: +631 Cr
Advances: 1319 / Declines: 1271
Dollar: $ 74.10
Gold: $1882 per ounce
Crude: $36.80 per barrel (down 2.90 %)
10 year US bond rate: 0.86
10 year Indian Bond rate: 5.88
Today’s results announcement: HDFC Ltd, NTPC, Bandhan bank, Cadila healthcare, Escorts, PNB, Ramco cements, Zee entertainment, Coromandal international, CUB, KEI industries, NH, OFSS, Pfizer, Shilpa medicare, Shriram city union finance, TCI Express, Whirlpool.
Above estimates: ICICI bank, DCB bank, IOC, Indusind bank, DLF, JSPL
Inline estimates: Reliance industries, Quess corp, UPL
Auto sales data: Heromotocop reported strong volumes in October while Maruti, M&M and Escorts announced inline with expected volumes. However, Eicher motors dispatches were below estimates.
Securities in Ban: NIL
Derivative View : VIX closed at 24.75. Max Put OI is at 11600 then 11500. Max Call OI is at 12000 then 11700. Option data suggests a trading range between 11500 to 12000.