From Advisory Desk : Vikash Sahay
2nd June 2021 Market outlook: Asian markets are trading in mix, including SGX Nifty. VIX is at 15 month low level. Gold hovers above $ 1900 oz on softening of dollar. Consumption stocks are likely to attract demand as lock down gradually lifts across cities and increase in the pace of vaccination. WTI Crude is at two year high due to strong demand in US and European countries.
Actionable: Buy SBI, ONGC, Bajaj finance.
Global market:DOW: +45SGX NIFTY: -10 (prev.close 15631)NIFTY 50 : 15574Sensex : 51934Institution:FII: -450 CrDII: +230 CrNSE:Advances: 1275 / Declines: 1864Currency:Dollar: $ 72.90Dollar Index: 89.87Commodity:Gold: $1902 per ounceCrude: $70.70 per barrelBonds:10 year US bond rate: 1.6210 year Indian Bond rate: 6.03Derivative:PCR: 0.89VIX: 17.38Today’s results announcement: Motherson sumi, Muthoot finance, PVR, MTAR technologies, panacea biotec.Results update:Above estimates: Gujarat gasInline estimates: ITC, Balrampur chiniUpdates Sugar stocks: According to ISMA, OMCs have on 25-May floated their 4th cycle of EOI, inviting bids from ethanol producers for another about 26 crore litres of ethanol in the current year 2020-21, for supplies from 1st June to 30th Nov. Also, sugar production rose by 13% to 30.55 million tons in the first eight months of the current marketing year ending September, mainly due to higher output in Maharashtra.Steel companies: As expected, domestic steel mills have raised flat steel prices by Rs. 3,000-5,000 per ton in June 2021 to close the gap with regional prices.Securities in BAN: BANKBARODA, SAIL, SUNTV. Derivative View : VIX closed at 17.38. Max Put OI is at 15400 then 15500. Max Call OI is at 15700 then 15800. Option data suggests a trading range between 15400 to 15800.