Actionable: Buy Maruti, Asian paints, Tech Mahindra.

Insight Online News

From Advisory Desk : Vikash Sahay

18th November 2021

Market Outlook: US market ended lower amid concerns over inflation. Asian markets have started in mix, with SGX Nifty is indicating a flat opening. The US dollar index continued to surge from past few days, hitting 16-months high after strong economic data. However, seen no impact on INR due to good FDI flows and high reserves with RBI kept USDINR steady. Yesterday, Indian markets remained volatile throughout the session and closed near 17900 level. Today, being weekly expiry, we expect Nifty’s range to be 17777-18050 and Bank nifty’s range to be 37750-38300. One should remain stock selective ahead of long weekend.

Actionable: Buy Maruti, Asian paints, Tech Mahindra.

IPO Listing: Paytm and Sapphire foods shares to start trading in exchanges today.

Global market:
DOW:  -211
SGX NIFTY:   -10  (prev.close 17883)
NIFTY 50 : 17898
Sensex : 60008

Institution:
FII:                    -344 Cr
DII:                    -61 Cr

NSE:
Advances: 1452 / Declines: 1885

Currency:
Dollar: $ 74.27
Dollar Index: 95.77

Commodity:
Gold: $1871  per ounce
Crude: $80.05  per barrel

Bonds:
10 year US bond rate: 1.58
10 year Indian Bond rate: 6.36

Derivative:
PCR: 0.84
VIX:  14.98

Updates:

Vedanta: Company constitutes board committee to evaluate value unlocking measures including demerger, spin-off, strategic partnership and also simplification of corporate structure.

Downstream oil companies: Crude oil prices near 10% correction from recent peak and trading more than one month low on expectation of oil release from US reserves, which will be benefited for the end users of the commodity.

Zomato: Zomato UK, step-down subsidiary of the company has been dissolved effective from Nov 16, 2021.  In another news, Zomato is reportedly in talks to invest as much as $500 million in Grofers.

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

Derivative View : VIX closed at 14.98. 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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