Actionable: Buy Maruti, Bank of Baroda, Pidilite

From Advisory Desk : Vikash Sahay

17th August 2022
Market Outlook: US Market ended mixed as Dow jones boosted by two retail companies strong earnings while Nasdaq traded lower. US futures flat before the Fed minutes of last policy due today that could offer clarity on further interest rate hikes. Crude oil prices continues to trade near its 2022 lows on concerns of demand slowdown and hopes of supply surge from Iran. Asian markets have started on flat, with SGX Nifty indicating slightly higher opening. Yesterday Nifty remained range-bound throughout the day after gap-up opening and closed positive on sixth straight session. Nifty support placed at 17777 and need to sustain for further up move.
 
Actionable: Buy Maruti, Bank of Baroda, Pidilite.
 
Global market:
DOW: +239
SGX NIFTY: +20 (prev.close 17856)
NIFTY 50 : 17825
SENSEX: 59842
 
Institution:
FII: + 1377 Cr
DII: – 136 Cr
 
NSE:
Advances: 1925 / Declines: 1632
 
Currency:
Dollar: $ 79.66
Dollar Index: 106.48
 
Commodity:
Gold: $1789 per ounce
Crude: $92.35 per barrel
 
Bonds:
10 year US bond rate: 2.81
10 year Indian Bond rate: 7.28
 
Derivative:
PCR: 1.01
VIX: 17.68
 
Updates:
 
MGL: Company cuts Price Of Piped Cooking Gas By Rs 6, CNG By Rs 4 in Mumbai.
 
Techno Electric & Engineering: Company has received new orders for flue gas desulphurisation (FGD). One order is worth ₹666 crore and is from Rajasthan Rajya Vidyut Utpadan Nigam Limited Kota and another order worth ₹789 crore is from Rajasthan Rajya Vidyut Utpadan Nigam Limited Jhalawar.
 
Securities in Ban: Balrampur Chini, Delta Corp, Tata Chemicals.
 
Derivative View: Max Put OI is at 17500 and 17600 and Max Call OI is at 18000 and 18500. Option data suggests an immediate trading range between 17600 to 18000.

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