Actionable: Buy Infosys & Biocon

From Advisory Desk : Vikash Sahay

16th September 2020b: Market Outlook: Ahead of the FED policy announcement, Dow Jones ended flat after losing an intraday gain of half a percent. Asian markets too were trading flat, including SGX Nifty which is down by mere 15 points. FIIs have been the buyers in the last four trading sessions amounting to Rs 3500 cr. VIX hovers around the level of 20. In midst of rising COVID cases in India, We expect the markets to remain sideways.

Actionable: Buy Infosys & Biocon

Global market:
DOW: +2
SGX NIFTY: -20 (prev.close 11531)
NIFTY 50 : 11521
Sensex : 39044

Institution:
FII: +1171 Cr
DII: -896 Cr

NSE:
Advances: 1544 / Declines: 1194

Currency:
Dollar: $ 73.64

Commodity:
Gold: $1964 per ounce
Crude: $40.95 per barrel

Bonds:
10 year US bond rate: 0.68
10 year Indian Bond rate: 6.02

Update:

Infosys: Company announced that it has been selected by US based Essential Utilities – one of the largest publicly traded water, wastewater and natural gas providers in the U.S., as a strategic partner to drive its digital transformation.

Aurobindo pharma: Announced a collaboration with CISR to develop COVID-19 Vaccine. Aurobindo will undertake clinical development and commercialization of the vaccines.

Bharti Airtel: Company announces partnership with Sterlite Technologies to build a modern optical fibre network for itself across 10 telecom circles.

Security in Ban : ADANIENT, ESCORTS, IBULHSGFIN, CANBK, BHEL, IDEA, TATACHEM, JINDALSTEL, BANKBARODA, VEDL.

Derivative View : VIX closed at 20.59. Max Put OI is at 11400 then 11300. Max Call OI is at 11600 then 11700. Option data suggests a wider trading range between 11300 to 11700.

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