Actionable: Buy Reliance Industries, Tata Steel, ICICI bank.

From Advisory Desk : Vikash Sahay
 
Market outlook: Dow futures is trading a quarter percent higher as FED kept rates unchanged and Biden unviels new packages. Asian markets too are trading a quater percent higher and SGX Nifty is almost on the verge of crossing 15000. FIIs have turned buyer yesterday, after six consecutive days as sellers. Today being a monthly expiry, we expect Nifty to be in the range of  14750-15050  and Bank Nifty to be in the range of 33300-34500.
 
Actionable: Buy Reliance Industries, Tata Steel, ICICI bank.
 
Global market:
DOW:  -164
SGX NIFTY:   +135  (prev.close 14845)
NIFTY 50 : 14864
Sensex : 49733

Institution:
FII:                     +766 Cr
DII:                    +436 Cr

NSE:
Advances: 1792 / Declines: 1173

Currency:
Dollar: $ 74.35
Dollar Index: 90.46

Commodity:
Gold: $1789  per ounce
Crude: $67.20  per barrel

Bonds:
10 year US bond rate: 1.62
10 year Indian Bond rate: 6.05

Derivative:
PCR: 0.88
VIX:  22.58
 
Today’s results announcement: Bajaj auto, HUL, Titan, Ambuja cements, Aavas financiers, AU small finance bank, Dalmia bharat, Exide industries, Indiamart, Lauars labs, L&T finance, Motilal oswal, Mahindra CIE, Persistant systems, SRT Finance, sterlite technologies, Tata coffee, Zensar technologies.
 
Updates:
 
Steel companies: China has announced the removal of VAT rebates on export of 146 steel products from May 1, a move to discourage steel exporters who is enjoying a export tax rebates(In the range of 4-13%) when exporting. In a separate announcement, also cut thr import duty on pig iron, crude steel and recycled steel to zero from May.
 
Affle india : Company launches QIB worth of Rs.1080 crore at a floor price of Rs.5422.94 which is 2% discount to yesterday’s closing price and scheduled to meet on May 4th, 2021 to approve issue price
 
Securities in BAN:  SAIL.
 
Derivative View : VIX closed at 22.58. Max Put OI is at 14700 then 14600. Max Call OI is at 15000 then 15100. Option data suggests a trading range between 14600 to 15100.

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