Actionable: Buy SAIL & CIPLA.

Insight Online News

From Advisory Desk : Vikash Sahay

3rd May 2021 : Market outlook: Dow futures is trading up by 100 points. However Asian markets are trading lower by over one percent. SGX Nifty is trading 200 points lower at 14450 due to concern of rising deaths because of covid and state election result wasn’t as per street estimates. FIIs sold stock of Rs 3500 cr on Friday. VIX being above 23, indicating volatility to continue in markets.

Actionable: Buy SAIL & CIPLA.

Metal basket: Buy Hindalco, JSW steel,Tata steel, VEDL, Jindal steel, National aluminum, NMDC, SAIL. (Still there is lot of opportunity to buy at this level).

Global market:
DOW:  -185
SGX NIFTY:   -150  (prev.close 14641)
NIFTY 50 : 14631
Sensex : 48782

Institution:
FII:                     -3465 Cr
DII:                    +1419 Cr

NSE:
Advances: 1320 / Declines: 1630

Currency:
Dollar: $ 74.06
Dollar Index: 91.22

Commodity:
Gold: $1770  per ounce
Crude: $66.90  per barrel

Bonds:
10 year US bond rate: 1.63
10 year Indian Bond rate: 6.03

Derivative:
PCR: 0.87
VIX:  23.02

Today’s results announcement: Kotak mahindra bank, SBI Life insurance company, Tata chemicals, Godrej properties, L&T technology services, IDBI bank, Mahindra holidays, Supreme industries, Varun beverages.
 
Results update:
Above estimates: Ajanta pharma
Inline estimates: Marico, Indusind bank, Reliance industries, Indian hotels
Below estimates: Yes bank
 
Updates:
 
Amaraja batteries: Has received immediate closure of plants belonging to the company in chittor district by Andhra pradesh pollution control board.

Tata power: As per media sources, Company is planning an IPO for its renewable energy business that could raise about Rs.3500 crore.

Natco pharma: Received emergency use approval for Baricitnib tablets from CDSCO in India. Baricitnib in combination with Remdesivir is used for treatment of Covid-19 patients.

Steel companies: Steel mills has taken a price hike of Rs.3500-4500 per ton in May 2021.

Securities in BAN: SUNTV.
 
Derivative View : VIX closed at 23.02. Max Put OI is at 14500 then 14200. Max Call OI is at 15000 then 14800. Option data suggests a trading range between 14200 to 15000.

Leave a Reply

Your email address will not be published. Required fields are marked *