From Advisory Desk : Vikash Sahay
14th October 2021
Market Outlook: It’s all IT today, after strong Q2 set of numbers from Infosys, Mindtree & Wipro other stocks from the sector should participate in the rally today. Indian markets are in strong uptrending zone and continue to outperform despite of subdued global markets in the last few days. Now, Nifty has entered into an uncharted territory and we expect the momentum to continue led by good Q2 results. Today, being weekly expiry, we expect Nifty’s range to be 18100-18300 and Banknifty’s range to be 38350-39000 . Asian markets have started trading higher by upto one percent on back of global cues, with SGX Nifty is trading higher by 80 points.
Actionable: Buy Persistant systems, Wipro, Tata Consumer, Sun pharma.
SGX NIFTY: +80 (prev.close 18180)
NIFTY 50 : 18161
Sensex : 60737
FII: +937 Cr
DII: -432 Cr
Advances: 1701 / Declines: 1644
Dollar: $ 75.36
Dollar Index: 94.07
Gold: $1790 per ounce
Crude: $83.25 per barrel
10 year US bond rate: 1.55
10 year Indian Bond rate: 6.31
Today’s results announcement: Hcl technologies, Cyient, Century textiles, IB Real estate, Den networks, GTPL Hathway, Mahindra CIE.
Securities in BAN: BANKBARODA, BHEL, IBUHSGFIN, IDEA, NALCO, PNB, SAIL, SUNTV.
Derivative View : VIX closed at 16.10. Max Put OI is at 18000 then 17900. Max Call OI is at 18200 then 18300. Option data suggests a trading range between 17900 to 18300.