From Advisory Desk : Vikash Sahay
8th April 2021: Market outlook: US markets ended flat. Asian markets too are trading flat to positive and SGX Nifty is in green by 60 points. After couple of days of selling by FIIs, yesterday they turned buyer with a meager sum of 250 cr. VIX has cooled from weekly high to the level of 20. Indian currency took a dip against US dollar at the level of 74.27. Today being a weekly expiry, we expect Nifty range to be 14700-14950 and Bank Nifty’s range to be 32250-33750.
Actionable: Buy Mindtree, Infoedge, Heidelberg cement.
SGX NIFTY: +55 (prev.close 14863)
NIFTY 50 : 14819
(closing gap of 44 points between Sgx nifty and Nifty 50)
Sensex : 49661
FII: +227 Cr
DII: +381 Cr
Advances: 1830 / Declines: 1125
Dollar: $ 74.55
Dollar Index: 92.44
Gold: $1736 per ounce
Crude: $62.75 per barrel
10 year US bond rate: 1.67
10 year Indian Bond rate: 6.08
IT companies: Research firms ISG and Gartner, released a strong forecast for industry growth in 2021 which is expected to reach to $ 93 billion, an increase of 7.3% from 2020. Also, worldwide IT spending is projected to total $ 4.1trillion in 2021, an increase of 8.4% from 2020.
Godrej Consumer Q4 update: Demand trends in all categories are remained stable in the quarter, overall expects mid twenties on consolidation business. Domestic business expected to deliver around 30% on favorable base, majorly driven by strong volume growth and price hikes.
Securities in BAN: SAIL.
Derivative View : VIX closed at 20.24. Max Put OI is at 14500 then 14700. Max Call OI is at 15000 then 15100. Option data suggests a trading range between 14500 to 15100.