From Advisory Desk : Vikash Sahay
27th October 2020 : Market Outlook, Dow Jones saw single largest day fall in a month on concern over rising covid cases, ahead of US election which is a week away (4-Nov).Europe market extended loses till 4% as Italy and France have imposed second series of lockdown. Asian markets too are trading half a percent lower. Yesterday we saw profit booking at higher level majorly in metal and Auto. We expect a high voltality to continue until the mega event (US election) is completed on 04-Nov. Nifty support level is 11650.
Actionable : Buy Kotak bank, SBI life
SGX NIFTY: +45 (prev.close 11774)
NIFTY 50 : 11767
Sensex : 40145
FII: -119 Cr
DII: -979 Cr
Dollar: $ 73.85
Gold: $1912 per ounce
Crude: $41 per barrel
10 year US bond rate: 0.80
10 year Indian Bond rate: 5.83
Today’s results announcement: Bharti Airtel, Tata motors, Amara raja, ICICI pru life, Castrol, Ceat, NAM india, TV 18 Broadcast, KPR mills, Suven lifesciences.
Above estimates: Kotak bank, SBI life, M&M Financial
Inline estimates: Torrent pharma
MSCI will implement changes in Foreign Ownership Limits in the MSCI Global Indexes containing Indian securities coinciding with the November 2020 Semi Annual Index Review on November 30, 2020, effective December 1, 2020. Positive for stocks like Kotak bank, L&T, Nestle, Britannia, Divis etc.
Derivative View : VIX closed at 22.83. Max Put OI is at 11500 then 11700. Max Call OI is at 12000 then 11900. Option data suggests a trading range between 11500 to 12000