Actionable: Buy Macrotech Developers, Jindal Stainless Ltd, SBI.

Insight Online News

From Advisory Desk : Vikash Sahay

6th January 2022

Market Outlook: US markets fell sharply by upto 3.5%, with NASDAQ leading the losses after the release of FED meeting minutes which indicated the central bank may raise interest rates sooner than expected and to reduce balance sheet. US 10-year bond yields spiked to nine months high which is trading at 1.7%. Asian markets including SGX Nifty has started trading in lower by more than one percent on back of global cues. Yesterday, Nifty recovered smartly from initial hour lows and closed above 17900 led by Banking and financial stocks. Today being weekly expiry, we expect Nifty’s range to be 17777-18000 and Bank nifty’s range to be 37250-38250. Any sharp decline in the market would be a buying opportunity.

Actionable: Buy Macrotech Developers, Jindal Stainless Ltd, SBI.

Global market:
DOW:  -392
SGX NIFTY:   -170  (prev.close 17973)
NIFTY 50 : 17925
Sensex : 60223

Institution:
FII:                    +337 Cr
DII:                   +1272 Cr

NSE:
Advances: 1786 / Declines: 1606

Currency:
Dollar: $ 74.36
Dollar Index: 96.14

Commodity:
Gold: $1809  per ounce
Crude: $79.85  per barrel

Bonds:
10 year US bond rate: 1.68
10 year Indian Bond rate: 6.51

Derivative:
PCR: 0.87
VIX:  17.22

Securities in Ban: Nil.

Derivative View : VIX closed at 17.22. Immediate max Put OI is at 17800 then 17700. Max Call OI is at 18000 then 18100. Option data suggests a trading range between 17700 to 18100.

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