Actionable: Buy Macro tech Developers, Zee entertainment, IEX, Dixon.

Insight Online News

From Advisory Desk : Vikash Sahay

16th November 2021

Market Outlook: US Markets gave up early gains and closed flat after a spike in bond yields which is trading at 1.6%. Asian markets have started in positive, with SGX Nifty is trading higher by 60 points. Both FIIs and DIIs remained net buyers in cash segment for second consecutive day. Yesterday, Nifty opened on a positive note but gradually slipped due to selling at higher levels and thereafter remained in range bound throughout the session. Despite of inflationary pressures, Nifty posted highest ever quarterly profits in Q2 and expect the earnings momentum to continue with early signs of falling prices in commodities . We continue with Buy on dips strategy till it holds 18000 level for further upmove.

Actionable: Buy Macro tech Developers, Zee entertainment, IEX, Dixon.

Global market:
DOW:  -12
SGX NIFTY:   +60  (prev.close 18139)
NIFTY 50 : 18109
Sensex : 60718

Institution:
FII:                    +425 Cr
DII:                   +1525 Cr

NSE:
Advances: 1279 / Declines: 2141
Currency:
Dollar: $ 74.48
Dollar Index: 95.46
Commodity:
Gold: $1868  per ounces
Crude: $82.75  per barrel
Bonds:10 year US bond rate: 1.60
10 year Indian Bond rate: 6.34
Derivative:
PCR: 0.90
VIX:  15.46

Updates:

Macrotech developers: Company launches QIP on yesterday to raise $537 million at a SEBI floor price of Rs.1184.7 per share, which is at a discount of 7.7% to yesterday’s closing price. Company may offer a discount of not more than 5% on the floor price at its discretion. Board to meet on Nov 18th, 2021 to consider and approve the issue price.

Escorts: The company will increase prices of its tractors effective from November 21, owing to the steady rise in commodity prices. The price increase would vary across models and variants.

Phoenix mills: Canada pension fund to invest upto Rs.1350 crore in multiple tranches in Phoenix mills subsidiary Plutocrat commerical real estate for 49% stake.

Securities in Ban: BHEL, BOB, ESCORTS, IBULHSGFIN, IRCTC, NALCO, PNB, SAIL, SUNTV.

Derivative View : VIX closed at 15.46. Max Put OI is at 18000 then 17900. Max Call OI is at 18300 then 18200. Option data suggests a trading range between 17900 to 18300.

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