Actionable: Buy Reliance, Kotak Bank, LT, M&M

Insight Online News

From Advisory Desk : Vikash Sahay

19th August 2022
 
Market Outlook: US market traded flat on mixed economy data of fall in Jobless claims while declined in existing Home sales numbers. Crude oil traded higher by 3% after strong US consumption data. Dollar index inched to one month high. SGX Nifty is indicating muted opening largely in-line with Asian markets. Yesterday Nifty opened lower, remained volatile before closing near day’s High and extended its positive momentum for 8th consecutive session. Overall the market is in strong momentum and any dips towards 17888 is a good buy opportunity for higher level of 18150-18200.
 
Actionable: Buy Reliance, Kotak Bank, LT, M&M.
 
Global market:
DOW: +18
SGX NIFTY: -30 (prev.close 18004)
NIFTY 50 : 17956
SENSEX : 60298
 
Institution:
FII: – 1706 Cr
DII: + 471 Cr
 
NSE:
Advances: 1883 / Declines: 1534
 
Currency:
Dollar: $ 79.67
Dollar Index: 107.68
 
Commodity:
Gold: $1768 per ounce
Crude: $96.50 per barrel
 
Bonds:
10 year US bond rate: 2.89
10 year Indian Bond rate: 7.24
 
Derivative:
PCR: 0.98
VIX: 17.35
 
Updates:
 
Oil Sector: Government has once again revised the windfall tax, the tax on domestically produced crude oil has been reduced to Rs 13,000 per tonne from Rs 17,750 per tonne, while export taxes on jet fuel has been hiked to Rs 2 per litre from zero. Additionally, The excise duty on the export of diesel has been hiked to Rs 7 per litre from Rs 5 per litre earlier.
 
Wipro: Company has received a multi-year contract to deliver Service integration and management (SIAM) services to HM Treasury (HMT).

Securities in Ban: Balrampur Chini, Delta Corp.
 
Derivative View: Max Put OI is at 17500 and 17600 and Max Call OI is at 18000 and 18500. Option data suggests an immediate trading range between 17700 to 18100.

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