Actionable: Buy L&T, Maruti, Sun Pharma, Tata Motors, Torrent power.

Insight Online News

From Advisory Desk : Vikash Sahay

16th December 2021

Market Outlook: All the major US benchmarks recovered from lows and closed in positive by upto 2% following FED decision to cut the monthly bond buying program sharply by March 2022 and also indicates 3 rate hikes by the end of next year. Asian markets have started on positive note, with SGX Nifty is trading higher by 70 points. On domestic front, Indian markets remained under selling pressure ahead of the FED outcome. Strong dollar index and continued FIIs selling has taken USDINR to 20-months high at 76.40, positive for IT stocks. Yesterday, Government approved PLI scheme worth Rs.76,000 for manufacturing of semiconductors which is positive for Auto industry in the long run . Today being weekly expiry, we expect the volatility to be higher with Nifty’s range to be 17100-17400 and Bank Nifty’s range to be 36500-37500.

Actionable: Buy L&T, Maruti, Sun Pharma, Tata Motors, Torrent power.

Supriya Life science Ltd ( Subscribe) : IPO opens today for subscription and closes on 20th Dec, 2021. IPO issued at a price band of Rs.265-274 per share

Global market:
DOW:  +383
SGX NIFTY:   +60  (prev.close 17251)
NIFTY 50 : 17221
Sensex : 57788

Institution:
FII:                    -3407 Cr
DII:                   +1553 Cr

NSE:
Advances: 1665 / Declines: 1681

Currency:
Dollar: $ 76.23
Dollar Index: 96.42

Commodity:
Gold: $1782  per ounce
Crude: $74.45  per barrel

Bonds:
10 year US bond rate: 1.47
10 year Indian Bond rate: 6.36

Derivative:
PCR: 0.86
VIX:  17.21

Updates:

Indiabulls housing finance: Promoter Sameer Ghelaut to sell 11.9% stake in the company via block deal at a price of Rs.262- 267 per share. Sameer Ghelaut will bring down the stake to below 10% and declassified as a promoter post the block deal.

Securities in Ban: ESCORTS, IDEA, IBULHSGFIN.

Derivative View : VIX closed at 17.21. Immediate max Put OI is at 17000 then 17200. Max Call OI is at 17500 then 17300. Option data suggests a trading range between 17000 to 17500.

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