From Advisory Desk : Vikash Sahay
17th September 2020 : Market Outlook: Dow Jones ended almost flat after FED kept the rates unchanged in the range of 0% to 0.25%. Asian markets are trading lower by three quarter of a percent, ahead of BOJ meeting which starts today and SGX Nifty is has started with a dip of 75 points. Nifty trades at the higher resistance of the current trading zone of 11200-11600 and hence one can expect some profit booking at this level. Today being a weekly expiry, we expect the Nifty to be in the range of 11450-11700 and Bank Nifty of 22000-23000.
IPO Listing : Happiest Minds technology shares to start trading in exchanges today after oversubscribed by 151 times.
SGX NIFTY: -75 (prev.close 11604)
NIFTY 50 : 11604
Sensex : 39302
FII: +265 Cr
DII: -212 Cr
Advances: 1399 / Declines: 1335
Dollar: $ 73.52
Gold: $1954 per ounce
Crude: $41.95 per barrel
10 year US bond rate: 0.68
10 year Indian Bond rate: 5.99
HCL technologies: HCL technologies announced the expansion of their strategic partnership on cloud migration to deliver accelerated business intelligence platform.
Securities in Ban period: Adani Enterprises, Aurobindo Pharma, Bank of Baroda, BHEL, Canara Bank, Escorts, Indiabulls Housing Finance, JSPL, Tata Chemicals, Vedanta, Vodafone Idea
Derivative View : VIX closed at 19.66. Max Put OI is at 11500 then 11400. Max Call OI is at 11700 then 11800. Option data suggests a wider trading range between 11400 to 11800.