From Advisory Desk : Vikash Sahay
26th November 2020 : Market Outlook, Dow Jones ended half a percent lower and today it’s shut due to Thanks giving day. Asian market is up by half a percent up along with SGX Nifty which is up by 50 points. Crude @ $ 49. Markets has made bearish engulfing, however the trend reversal will happen below 12700. Volatility could be high as VIX has moved to 23 level. Today being monthly expiry, we expect Nifty range to be 12750-13000 and Bank Nifty range to be 28500-29800.
Actionable: Buy Lauras lab and HDFC life for delivery which has a strong support of 640.
SGX NIFTY: +65 (prev.close 12863)
NIFTY 50 : 12858
Sensex : 43828
FII: +24 Cr
DII: -1840 Cr
Advances: 1110 / Declines: 1689
Dollar: $ 73.91
Gold: $1809 per ounce
Crude: $48.95 per barrel
10 year US bond rate: 0.88
10 year Indian Bond rate: 5.89
Laurus labs: signed a definitive agreement to acquire 72.55% in Richcore Lifesciences pvr Ltd for a value of Rs.246.7 crores. Richcore has large scale fermentation capabilities and manfacturers animal origin free recombinant products. This acquisition marks Laurus lab’s entry into the broader biologics and biotechnology segments, providing the company access to it’s high growth areas, globally and India.
Securities in Ban: CANBNK, IBULHSGFIN, NALCO, SAIL, TATAMOTORS.
Derivative View : VIX closed at 23.12. Max Put OI is at 12800 then 12700. Max Call OI is at 13000 then 13100. Option data suggests a trading range between 12700 to 13100