Actionable: Buy Reliance industries, SBI cards & Godrej CP.

Insight Online News

From Advisory Desk : Vikash Sahay

26th August 2021

Market Outlook: Today Nifty is expected to open flat at around 16600 on back of global cues. Yesterday the Indian market started higher, but couldn’t hold on the gains in the second half of the day. In this month, FIIs have been the net sellers amouting to Rs 5000 cr. Today being a monthly expiry, we expect volatility to be higher with Nifty’s range to be 16500-16750 and Bank Nifty’s range to be 35000-36000. The focus would be on large cap and defensive stocks.

Actionable: Buy Reliance industries, SBI cards & Godrej CP.

Global market:
DOW:  +39
SGX NIFTY:   +/-  3  (prev.close 16623)
NIFTY 50 : 16634
Sensex : 55944

Institution:
FII:                      -1072 Cr
DII:                      -151 Cr

NSE:
Advances: 1963 / Declines: 1240

Currency:
Dollar: $ 74.24
Dollar Index: 92.87

Commodity:
Gold: $1791  per ounce
Crude: $70.75  per barrel

Bonds:
10 year US bond rate: 1.34
10 year Indian Bond rate: 6.24

Derivative:
PCR: 0.98
VIX:  13.49

Updates:

Auto companies: Revenue secretary on Wednesday said that the Govt is open to discussing a change in GST rates on automobiles to increase their affordability amid a prolonged slowdown that has dragged volumes lower across segments.

Cipla: Cipla and Kemwell biopharma pvt ltd, a biopharmaceutical CDMO, announced execution of a joint venture agreement to develop, manufacture and commercialize biosimilars for global markets. JV formed with an aim to enter the respiratory biosimilars space.

Bharti airtel: Board to meet on August 29th to consider raising funds through equity, equity linked or debt instruments or combination of both.

Securities in BAN:  CANBK, IDEA, NMDC, SAIL.

Derivative View : VIX closed at 13.49. Max Put OI is at 16500 then 16600. Max Call OI is at 16700 then 16800. Option data suggests a trading range between 16500 to 16800.

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