Actionable: Buy Reliance Industries, Tata Elxsi & Torrent Pharma

From Advisory Desk : Vikash Sahay

10th September 2020 : Market Outlook: US markets advanced by 1-3% on close after a sell off for three consecutive days. Asian markets were trading flat. SGX Nifty was trading flat in the early tick. Markets are expected to be highly volatile due to events like weekly expiry, India-China diplomat meet in Russia, SC to hear the moratorium case and few stakeholders announcement expected by Reliance retail. Hence we expect the trading zone of Nifty to be 11200-11400 and Bank Nifty to be 21700-22800

Actionable: Buy Reliance Industries, Tata Elxsi & Torrent Pharma

Global market:
DOW: +439
SGX NIFTY: -5 (prev.close 11306)
NIFTY 50 : 11278
Sensex : 38193

Institution:
FII: -959 Cr
DII: -264 Cr

NSE:
Advances: 823 / Declines: 1867

Currency:
Dollar: $ 73.53

Commodity:
Gold: $1953 per ounce
Crude: $40.60 per barrel

Bonds:
10 year US bond rate: 0.70
10 year Indian Bond rate: 5.98

Security in Ban : IDEA, IBULHSGFIN, CANBK, BHEL, PNB, JINDALSTEL, BANKBARODA

Derivative View : VIX closed at 22.55. Max Put OI is at 11200 then 11000. Max Call OI is at 11400 then 11500. Option data suggests a wider trading range between 11000 to 11500.

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