Actionable: Buy Infoedge & Hindalco

From Advisory Desk : Vikash Sahay

23rd February 2021

Market Outlook: The rise in copper price to a decade high and US bond yield at 1.38% led NASDAQ to close lower by 2.5%. However Dow Jones closed flat. Asian markets are trading flat to positive. SGX Nifty is up by 100 points. Gold & Silver is  up by 2%. Yesterday FIIs and DIIs sold in cash worth Rs 1800 cr. Though Metal counter ended in green but Nifty closed lower by 2%. VIX has spiked to the level of 25. One can place a support of 14500 in Nifty.

Actionable: Buy Infoedge & Hindalco

Global market:
DOW:  +27
SGX NIFTY:   +60  (prev.close 14675)
NIFTY 50 : 14675
Sensex : 49744

Institution:
FII:                     -893 Cr
DII:                     -920 Cr

NSE:
Advances: 1025 / Declines: 2006

Currency:
Dollar: $ 72.50
Dollar Index: 89.98

Commodity:
Gold: $1813  per ounce
Crude: $65.25  per barrel

Bonds:
10 year US bond rate: 1.37
10 year Indian Bond rate: 6.20

Derivative:
PCR: 0.97
VIX:  25.47

Updates:

Bharat Forge: Company & Paramount Group In Pact For Production Of Armoured Vehicles In India, Agreement Signed With Paramount Group During International Defence Expo, Abu Dhabi.

Reliance Industries: Announces carving out O2C business into an 100% subsidiary, says process of getting regulatory approvals has commenced and is expected to be completed by Q2FY22.

Info edge: Zomato raises another round of $250 million at an valuation of $5.4billion, a sharp rise from $3.9 billion in December. Info edge’s effective stake in zomato stands at 18.4 percent.

Securities in Ban: BHEL, CANBK, IDEA, SAIL.

Derivative View : VIX closed at 25.47. Max Put OI is at 14500 then 14700. Max Call OI is at 15000 then 14900. Option data suggests a trading range between 14500 to 15000.

Leave a Reply

Your email address will not be published. Required fields are marked *