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Actionable: Buy Reliance Industries, Ultratech cement

Actionable: Buy Reliance Industries, Ultratech cement

Actionable: Buy Reliance Industries, Ultratech cement
May 29
09:23 2020
Vikash Sahay
Vikash Sahay

From the Advisory Desk 29th May 2020

Market Outlook: Asian markets are quoting 50-100 bps lower and SGX Nifty is trading lower by 50 points. We expect the markets to trade a bit cautious ahead of the announcement from President Trump about China policy, especially after China imposing legislature in Hong Kong. Overall the markets to remain in range with a downward bias for the day however stock-specific opportunity would continue to remain in the market. Today is the last day of Reliance Industries RIGHT issue trading in the market.

Investment: Buy Bharti Airtel

Today’s results announcement: Voltas, Jubilant life, Equitas, KEC international, V- Mart

Results update:
Above estimates: Ceat
Inline estimates: Lupin, Federal Bank
Below estimates:TVS Motors

Global market:
DOW: -147
SGX NIFTY: -60 (prev.close 9460)
NIFTY 50 : 9490
Sensex : 32200

Institution:
FII: +2354 Cr
DII: +145 Cr

NSE:
Advances: 1533 / Declines: 816

Currency:
Dollar: $ 75.74

Commodity:
Gold: $1719 per ounce
Crude: $35.75 per barrel

Bonds:
10 year US bond rate: 0.68
10 year Indian Bond rate: 5.99

Update:
Lupin gets US FDA nod for Azithromycin tablets. Azithromycin is an antibiotic that is used to treat a number of bacterial infections.

Cadila healthcare: Cadila received EIR for its formulations plant in Baddi from USFDA.

Derivative View – VIX closed at 30. Max Put OI is at 9200 than 9000 while Max Call OI is at 9500 then 9700 strike. Options data indicates a wider range between 9200 to 9700 zone.

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Prashant Kumar

Prashant Kumar

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