Actionable : Buy Reliance, Manappuram

Insight Online News

From Advisory Desk : Vikash Sahay

21st December 2020 : Market Outlook ; US congressman agreed to $ 900 bn package. England has found a new mutation of COVID virus in many people which is spreading very fast, hence they have imposed Tier 4 lockdown and many neighbouring countries have imposed travel ban to London. Gold surged beyond $ 1900. Asian markets are trading in red by half a percent. SGX Nifty is down by 60 points.

Actionable: Buy Reliance, Manappuram

Global market:
DOW: -124
SGX NIFTY: -60 (prev.close 13782)
NIFTY 50 : 13760
Sensex : 46960

Institution:
FII: +2721 Cr
DII: -2425 Cr

NSE:
Advances: 1247 / Declines: 1744

Currency:
Dollar: $ 73.56

Commodity:
Gold: $1894 per ounce
Crude: $51.33 per barrel

Bonds:
10 year US bond rate: 0.93
10 year Indian Bond rate: 5.95

Updates:
Reliance industries: Reliance and BP on friday announced the start of production from the R cluster, ultra deep water gas field in KG-D6, R Cluster is the first of the three projects developing by them. Expects peak gas production from three fields to be about 25% of India’s gas demand by 2023. RIL is the operator of KG-D6 block with a 66.67% and BP holds 33.33% participating interest.

Tata motors and Motherson sumi: UK and European countries have started imposing stricter or partial lockdowns as a new strain of Covid found in UK and other parts of EU.

Securities in Ban: PNB,CANBK, SUNTV, SAIL.

Derivative View : VIX closed at 18.62. Max Put OI is at 13700 then 13500. Max Call OI is at 14000 then 13800. Option data suggests a trading range between 13500 to 14000.

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