Actionable: Buy in INFY, ITC, HDFC BANK.

Insight Online News

From Advisory Desk : Vikash Sahay

22nd June 2022

Market Outlook: Globally market rebounded sharply yesterday with major US indexes ending up more than 2%. Following positive global markets, Indian market went up second successive session due to technical pullback and short covering at lower levels. Asian markets trading mixed while SGX nifty indicating opening with minor cut. Crude oil prices given up early gains and down by nearly 3.5% as US president pushes for fuel cost cut measures and traders also eyeing the progress of the Iran nuclear deal negotiation and Venezuela’s oil exports to Europe. Nifty has a major resistance at16000 level, and for further up move need to sustain above hurdle of 15735.

Actionable: Buy in INFY, ITC, HDFC BANK.

Global market:
DOW: +641
SGX NIFTY: -20 (prev.close 15622)
NIFTY 50 : 15638
Sensex : 52532
Institution:
FII: – 2701 Cr
DII: + 3066 Cr

NSE:
Advances: 2477 / Declines: 853

Currency:
Dollar: $ 78.07
Dollar Index: 104.61
Commodity:
Gold: $1829 per ounce
Crude: $112.25 per barrel
Bonds:10 year US bond rate: 3.26
10 year Indian Bond rate: 7.48

Derivative:

PCR: 0.83

VIX: 21.14
Updates:

HDFC Bank – HDFC Bank’s plan to double its network in the next 3-5 years. To take the initiative ahead, the bank will open up to 2,000 branches every year.

PVR/INOX – Company get ‘No Objection’ from exchanges for proposed merger. As per the agreement, INOX will merge with PVR in a share swap ratio of 3 shares of PVR for every 10 shares of INOX

M&M – As per reports, OTPP Plans buying 49% in Mahindra Susten for Rs.2300 Cr.

Securities in Ban: Indiabulls Housing Finance, RBL Bank.

Derivative View : VIX closed at 21.14. Immediate Max Put OI is at 15500 and 15000 and Max Call OI is at 16000 and 16500. Option data suggests an immediate trading range between 15400 to 15850.

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