Actionable: Buy JSW steel & HDFC life

From the Advisory desk : Vikash Sahay

Market outlook: US markets ended flat. Asian markets too are trading flat and SGX Nifty is trading at 14450. FIIs have sold Rs 8600 cr so far in the month. Going forward, markets will find direction basis the covid cases starts receding nation wide and also as per companies results are declared.

Actionable: Buy JSW steel & HDFC life.

Global market:
DOW:  -61
SGX NIFTY:   +10  (prev.close 14487)
NIFTY 50 : 14485
Sensex : 48386

Institution:
FII:                     -1112 Cr
DII:                    +1023 Cr

NSE:
Advances: 1867 / Declines: 1132

Currency:
Dollar: $ 74.72
Dollar Index: 90.94

Commodity:
Gold: $1777  per ounce
Crude: $65.30  per barrel

Bonds:
10 year US bond rate: 1.58
10 year Indian Bond rate: 6.04

Derivative:
PCR: 0.90
VIX:  23.49

Today’s results announcement: Axis bank, Maruti suzuki, Bajaj finance, TVS motors, Britannia, HDFC AMC, United breweries, ABB india, Nippon life India AMC, PNB Housing finance, Hindustan zinc, Syngene international, symphony.

Results update:
Above estimates: Castrol india, Delta corp, HDFC life
Inline estimates: Tech Mahindra
Below estimates: SBI cards

Update:

Private banks: RBI has capped the tenure for MDs and CEOs of private banks, small finance banks and subsidiaries of foreign banks for a maximum of 15 years. Limit on the MD&CEO tenure has come as a negative development for banks like kotak mahindra bank.

Securities in BAN: IBULHSGFIN, SAIL, SUN TV.

Derivative View : VIX closed at 23.49. Max Put OI is at 14300 then 14200. Max Call OI is at 14800 then 14700. Option data suggests a trading range between 14200 to 14800.

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