From Advisory Desk ‘ Vikash Sahay
3rd June 2021 Market outlook: Asian markets have started marginally in green, with SGX Nifty up by 75 points. Gold at five month high due to rising concern of inflation and softening of dollar. Crude is at two years high as US piled up inventory shrunks. RIL have indicated to seperate O2C business from the parent company within next 18 months. Today being a weekly expiry, we expect Nifty to be in the range of 15450-15750 and Bank Nifty to be in the range of 34750-36000.
Actionable: Buy MTAR, Praj Industries, SBI, Voltas.
Global market:DOW: +25SGX NIFTY: +75 (prev.close 15630) (SGX nifty close price 54 points higher than Nifty 50 close price)NIFTY 50 : 15576Sensex : 51849Institution:FII: +921 CrDII: +242 CrNSE:Advances: 2103 / Declines: 1013Currency:Dollar: $ 73.08Dollar Index: 89.94Commodity:Gold: $1910 per ounceCrude: $71.80 per barrelBonds:10 year US bond rate: 1.5910 year Indian Bond rate: 6.01Derivative:PCR: 0.84VIX: 17.21Today’s results announcement: GIC, Gujarat state Petronet, APL Apollo tubes, Arvind fashions, Quess corp, Cupid, Som distilleries.Results update:Above estimates: Muthoot finance, Motherson sumi, MTARInline estimates: PVRUpdate: Sugar stocks: Government has again brought forward the implementation timeline for ethanol blending target of 20% to 2023 to help reduce india’s dependence on costly oil imports. Earlier this year, the target for 20% blending was brought forward to 2025 and now, it has been further advanced to April 2023.Tata power: Subsidiary Tata power solar receives EPC order worth Rs.686 crore from NTPC to set up solar PV projects.Securities in BAN: BANKBARODA, SAIL, SUNTV. Derivative View : VIX closed at 17.21. Max Put OI is at 15400 then 15500. Max Call OI is at 15700 then 15800. Option data suggests a trading range between 15400 to 15800.