Actionable: Buy LT, ICICI Bank, ITC

Insight Online News

From Advisory Desk : Vikash Sahay

22nd August 2022
 
Market Outlook: US market ended lower on Friday, ending the four-week consecutive gains as bond yield rose and on concern of interest rate hike. China’s central bank cut its 1 year prime lending rate today by 5 basis points to boost the economy. Brent Crude future is down by 1% and dollar index trading above 108 level. Asian markets including SGX Nifty have started on a weak note tracking wall street. Nifty on Friday witnessed profit booking after sharp rally on weak global cues and on weakening of Indian rupee. Markets may witness consolidation ahead of Fed Jackson hole meeting, US GDP data in this week. Overall trend is positive and market likely to find support near to 17650 and 17500 levels.
 
Actionable: Buy LT, ICICI Bank, ITC
 
Global market:
DOW: -292
SGX NIFTY: -70 (prev.close 17744)
NIFTY 50 : 17758
SENSEX : 59646
 
Institution:
FII: + 1111 Cr
DII: – 1633 Cr
 
NSE:
Advances: 1361 / Declines: 2047
 
Currency:
Dollar: $ 79.78
Dollar Index: 108.22
 
Commodity:
Gold: $1759 per ounce
Crude: $95.65 per barrel
 
Bonds:
10 year US bond rate: 2.99
10 year Indian Bond rate: 7.26
 
Derivative:
PCR: 0.99
VIX: 18.28
 
Updates:
 
Kotak Bank: FTSE didn’t consider June Shareholding for Sept Review.
 
IRCTC: Amid reports of the PSU planning to monetize passenger data, a senior official has clarified that the corporation does not sell its information and has no intention of doing so.
 
JSW Steel: The company has entered into a joint venture agreement with National Steel Holding for establishing scrap shredding facilities in India.
 
Securities in Ban: Balrampur Chini, Delta Corp, Tata Chemicals .
 
Derivative View: Max Put OI is at 17000 and 17500 and Max Call OI is at 18000 and 17900. Option data suggests an immediate trading range between 17500 to 18000.

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