From Advisory Desk 16th March 2021
Market Outlook: US market ended half a percent higher, ahead of FED meet. Asian markets too are up mildly in green and SGX Nifty is up by 30 points. VIX is above 21. Yesterday IT and metal helped Nifty to recover some intraday losses. Institutions have been the sellers for the past three consecutive days. Nifty crucial support is at 14850.
Actionable: Buy Infosys, Voltas, JK paper.
The board meeting to decide on interim dividend is scheduled today for BPCL, IOC and BEL
SGX NIFTY: +65 (prev.close 14950)
NIFTY 50 : 14929
Sensex : 50395
FII: -1101 Cr
DII: -750 Cr
Advances: 1165 / Declines: 1901
Dollar: $ 72.47
Dollar Index: 91.82
Gold: $1729 per ounce
Crude: $68.15 per barrel
10 year US bond rate: 1.59
10 year Indian Bond rate: 6.20
Tata communications OFS: Govt to sell upto 16.12% stake in the company through OFS at a floor price of Rs.1161 per share, which is a 10% discount to yesterday’s closing price. Offer opens today for non retail investors and tomorrow for retail investors.
Adani ports: The company will partner with John kells holdings plc and Sri Lankan authority to develop the west container terminal of colombo in srilanka on a build, operate and transfer basis for a period of 35 years.
Securities in BAN: BHEL, SUN TV.
Derivative View : VIX closed at 21.22. Max Put OI is at 14800 then 14900. Max Call OI is at 15200 then 15000. Option data suggests a trading range between 14800 to 15200.