From Advisory Desk : Vikash Sahay
17th January 2021
Market Outlook: Globally the markets have started the week on mixed note, with SGX Nifty is indicating a negative opening. Today, US markets would be closed on account of public holiday. Crude oil prices extend rally on supply tightness which is trading at three-year high. FIIs have sold over Rs.4,000 cr in the last three sessions, however markets have held on with large cap stocks which continue to remain strong. Overall, we remain positive on markets and continue with buy on dips. Q3 results have started on a good note with frontline stocks reporting strong numbers so far.
Actionable: Buy L&T, Balrampur chinni, Tata motors.
SGX NIFTY: -75 (prev.close 18274)
NIFTY 50 : 18255
Sensex : 61223
FII: -1598 Cr
DII: +371 Cr
Advances: 2039 / Declines: 1369
Dollar: $ 74.15
Dollar Index: 95.27
Gold: $1813 per ounce
Crude: $86.40 per barrel
10 year US bond rate: 1.79
10 year Indian Bond rate: 6.58
Today’s results announcement: Ultratech cement, Angel one, HFCL, Sonata software, Tata steel long products, Tatva chintan pharma, Bhansali engineering, FCL, Moschip technologies.
Above estimates: HCL technologies
Inline estimates: HDFC Bank
Auto and Auto ancillary stocks: Delhi govt makes adoption of EV’s by ride aggregator and delivery services mandatory. Also set a target of 10 % of all new two wheelers and 5% of new four wheelers to be EV in next 3 years.
Govt of india issues revised guidelines for charging infra for electric vehicles to enable faster adoption.
In another news, Govt approves mandating 6 airbags in vehicles carrying upto 8 passengers from October.
Hero motocorp: Company approved an investment of upto Rs.420 cr in one or more tranches in Ather energy. Prior to this investment, Heromotocop holds around 35% stake in the company.
Tata motors: As per reports, compay eyes 50k EV annual sales in next FY and scale it upto 125-150k annual sales in the following 2 years. Currently, EV bookings are at 15k and expected to launch 3 more affordable EV cars in sub 10 lakh range.
Securities in Ban: ESCORTS, IBULHSGFIN, IDEA, SAIL.
Derivative View : VIX closed at 16.55. Immediate max Put OI is at 18000 then 18200. Max Call OI is at 18300 then 18500. Option data suggests a trading range between 18000 to 18500.