Insight Online News
From Advisory Desk : Vikash Sahay
13th January 2022 Market Outlook: US markets closed in positive despite higher inflation data. However, futures are trading in red. Asian markets have started in mix, with SGX Nifty is trading higher by 130 points. On domestic front, CPI inflation rises to 5.59% in Dec while IIP growth remains muted at 1.4% in Nov, a nine-month low. Infosys reported strong Q3 results and also raises revenue guidance for the full year. TCS results were a mixed bag but the stock will find support due to buyback. Wipro results were disappointing on all front. Today being weekly expiry, we expect Nifty’s range to be 18081-18400 and Bank nifty’s range to be 38500-39250 .
Actionable: Buy Reliance industries, Tata Chemical, Tata Elxsi, Hindalco.
INITIATING COVERAGE: G R INFRAPROJECTS | Embarking on a new journey through diversification (GRINFRA IN, Mkt Cap USD2.5b, CMP INR1899, TP INR2260, 19% Upside, Buy)
SGX NIFTY: +130 (prev.close 18216)
NIFTY 50 : 18212
Sensex : 61150
FII: -1002 Cr
DII: +1332 Cr
Advances: 1810 / Declines: 1644
Dollar: $ 73.91
Dollar Index: 94.98
Gold: $1825 per ounce
Crude: $84.75 per barrel
10 year US bond rate: 1.76
10 year Indian Bond rate: 6.59
Today’s results announcement: Mindtree, Tata metaliks, Aditya Birla money, CESC, GTPL hathway.
Tata motors: JLR’s retail volumes declined 14% qoq to 80.1k units in Q3, with the UK and RoW declining the most due to chip shortage. Management says chip shortage remains dynamic and difficult to forecast, it believes chip supply would continue to improve in Q4.
Dixon: Company has executed a joint venture agreement with Japanese Rexxam co ltd and Dixon devices private ltd. The JV has received approval under PLI scheme and it will undertake manufacturing of printed circuit boards for Air- conditioners. Dixon will hold 40% stake in the JV.
Securities in Ban: Delta Corp, IBULHSGFIN, IDEA, RBL Bank, SAIL.
Derivative View : VIX closed at 17.18. Immediate max Put OI is at 18000 then 18100. Max Call OI is at 18400 then 18300. Option data suggests a trading range between 18000 to 18400.