Actionable: Buy Maruti, SBI.

From Advisory Desk : Vikash Sahay

27th January 2022

Market Outlook: US markets gave up initial gains and closed mixed after the FED indicated that rate hikes could come soon and confirmed plans to end its bond purchasing program in early March. Asian markets have started on a weak note, with SGX Nifty is indicating a gap down opening. On Tuesday, Nifty has witnessed a strong recovery from initial hour lows led by value buying and short covering. However, relentlessly selling by FIIs, Union budget, raising oil prices and quarterly results will keep the markets in volatile. We advise investors to start accumulating good quality stocks in staggered manner.

Actionable: Buy Maruti, SBI.

Monthly Expiry range: We expect Nifty’s range to be 16700-17350 and Bank nifty’s range to be 36500-38250.

Global market:
DOW:  -129
SGX NIFTY:   -300  (prev.close 17221)
NIFTY 50 : 17277
Sensex : 57858

Institution:
FII:                    – 7094 Cr
DII:                   +4535 Cr

NSE:
Advances: 1955 / Declines: 1404

Currency:
Dollar: $ 74.78
Dollar Index: 96.56

Commodity:
Gold: $1815  per ounce
Crude: $88.45  per barrel

Bonds:
10 year US bond rate: 1.84
10 year Indian Bond rate: 6.66

Derivative:
PCR: 0.83
VIX:  21.35

Today’s results announcement: BHEL, PNB, RBL Bank, Birlasoft, Canara bank, Coforge, Colpal, Indus towers, Laurus labs, LIC housing finance, Nippon AMC, Arvind, CG power, Dalmia bharat, Dollar industries, GMDC, Mahindra logistics, CE info systems, Motilal oswal financial services, PSP projects, Route mobile, TCI, Vaibhav global, Wabco india, Wockhardt pharma.

Results update:
Above estimates: Maruti, SRF, Cipla, Teamlease, Federal bank, Lodha developers
Inline estimates: Can fin homes,
Below estimates: Pidilite industries, United spirits, Torrent pharma, APL Apollo

Updates:

PNC infratech: Company’s JV has recieved three new projects in Uttar pradesh for an approx value of Rs.2330 crore. Company’s share in the JV is 90%.

Securities in Ban: NIL.

Derivative View : VIX closed at 21.35. Immediate max Put OI is at 17000 then 16800. Max Call OI is at 17500 then 17400. Option data suggests a trading range between 16800 to 17500.

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