Actionable: Buy Muthoot finance, HDFC Bank & Tata steel.

From Advisory Desk : Vilash Sahay

8th July 2021
 
Market Outlook: Today is weekly expiry and SGX Nifty is indicating Nifty’s start a bit lower to 15825. We expect Nifty’s range to be  15750-16000 and Bank Nifty’s range to be 35250-36250. Bank Nifty is on the verge of breakout, a move 35800 can lead to 36500. Asian markets too are trading lower by half a percent. US markets closed on record high as bond yields slides below 1.30%, after 5 months. Today result season will kick off, which will determine the next trend for Nifty.

Actionable: Buy Muthoot finance, HDFC Bank & Tata steel.

Global market:
DOW:  +104
SGX NIFTY:   -30  (prev.close 15888)
NIFTY 50 : 15879
Sensex : 53054

Institution:
FII:                      +533 Cr
DII:                      -232 Cr

NSE:
Advances: 1748 / Declines: 1456

Currency:
Dollar: $ 74.62
Dollar Index: 92.73

Commodity:
Gold: $1800  per ounce
Crude: $73.20  per barrel

Bonds:
10 year US bond rate: 1.31
10 year Indian Bond rate: 6.16

Derivative:
PCR: 0.91
VIX:  12.21

Today’s results announcement: TCS, Shyam metallics.

Updates:
 
Info edge: Zomato’s Rs.9,375   IPO to open for subscription on 14th July and closes on 16th July, IPO issued at a price band of 72-76 per share.
 
IT Stocks: ISG, leading global IT consultants increased revenue guidance for managed service from earlier 5% to 9% in their quarterly industry outlook call. Overall, strong commentary and suggest further pick up in deal signings.

Securities in BAN: IBULHSGFIN, NALCO, NMDC, PNB, SAIL.
 
Derivative View : VIX closed at 12.21. Max Put OI is at 15800 then 15700. Max Call OI is at 16000 then 15900. Option data suggests a trading range between 15700 to 16000.

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