insight Online News
From Advisory Desk : Vikash Sahay
11th November 2021
Market Outlook: US markets ended lower by 0.7%-1.6% with NASDAQ leading the losses as inflation fears intensify after CPI hits 31-year high which is at 6.2% YoY in October. Bond yields and gold price rose after the faster pace of inflation increased likelihood of an earlier rate hike. Asian markets have started trading in mix, with SGX Nifty is trading lower by a quarter percent. Yesterday, Nifty opened gap down but recovered in second half of the day and closed above 18000 levels. Today, being weekly expiry, we expect Nifty’s range to be 17800-18150 and Banknifty’s range to be 38500-39350. We continue to recommend selectively buying on dips
Actionable: Buy Muthoout Finance, Reliance industries, TVS motors.
SGX NIFTY: -30 (prev.close 18015)
NIFTY 50 : 18017
Sensex : 60352
FII: -470 Cr
DII: +767 Cr
Advances: 1666 / Declines: 1643
Dollar: $ 74.38
Dollar Index: 94.88
Gold: $1847 per ounce
Crude: $82.90 per barrel
10 year US bond rate: 1.57
10 year Indian Bond rate: 6.34
Today’s results announcement: Tata steel, Astral, Balkrishna industries, Godrej Consumer, HAL, NMDC, Indian bulls housing finance, Page industries, Piramal enterprises, PFC, Zee entertainment, BDL, Brigade, CESC, Clean science, Cochin shipyard, Easy trip planners, Goodyear, Matrimony, Natco pharma, NHPC, NLC, Presitage estates, PTC, Rail Tel, Rites, Varroc engineering.
Above estimates: Bank of Baroda, Berger paints
Inline estimates:Alembic pharma, India cements, Zomato, Pidilite industries, Thermax, Vinati organics
Below estimates: Strides pharma, Birla corp, EPL, oil india, Galaxy surfactants
Navin Flourine: Navin Flourine advanced sciences ltd, subsidiary of the company has entered into a multi year contract worth approx Rs.800 crore with large MNC company for manufacture and supply of a key agro chemical fluoro intermediate over a period of 5 years.
Securities in BAN: BHEL, BOB, ESCORTS, IBUHSGFIN, PNB, SAIL, SUNTV.
Derivative View : VIX closed at 16.31. Max Put OI is at 17900 then 17800. Max Call OI is at 18200 then 18100. Option data suggests a trading range between 17800 to 18200.