Actionable: Buy SBI, Tata motors, ICICI Bank, Indian Hotels.

Insight Online News

From Advisory Desk : Vikash Sahay

21st October 2021

Market Outlook: Dow Jones hits record highs on back of better than expected results. Asian markets have started trading in mix, with SGX Nifty is indicating a flat opening. Both FIIs and DIIs were continued their selling for second consecutive day amounting over Rs.6,600 crore. Yesterday, Nifty gave up initial gains despite of positive global cues and selloff seen in broader markets especially in Mid & Small cap counters on account of profit booking, majorly due to rising oil prices and selling from domestic institutions. However, Nifty bank showing a good strength supported by PSU banks and expected to move further on expectation of strong results. Today, being weekly expiry, we expect Nifty’s range to be 18150-18450 and Banknifty’s range to be 39300-40000. Overall, Short term trend remain intact however fresh leg of rally seen above 18600 levels.

Actionable: Buy SBI, Tata motors, ICICI Bank, Indian Hotels.

Global market:
DOW:  +152
SGX NIFTY:   +30  (prev.close 18317)
NIFTY 50 : 18266
Sensex : 61259

Institution:
FII:                     -1843 Cr
DII:                     -1681 Cr

NSE:
Advances: 887 / Declines: 2428

Currency:
Dollar: $ 74.87
Dollar Index: 93.55

Commodity:
Gold: $1787  per ounce
Crude: $86.00  per barrel

Bonds:
10 year US bond rate: 1.66
10 year Indian Bond rate: 6.37

Derivative:
PCR: 0.94
VIX:  18.31

Today’s results announcement: Asian paints, JSW steel, TVS motors, Mphasis, LIC housing finance, ICICI Lombard, Indian hotels, Indiamart, IEX, Biocon, Concor, Can fin homes, Borosil renewables, IDBI bank, CG power, Gateway distriparks, Heritage foods, Jubilant industries, Lemon tree, sterlite technologies, Tanla platforms, Trident, VST Industries.

Results update:
Above estimates: Jubilant foodworks, Shoppers stop, Angel broking, Tata communications
Inline estimates: Havells, L&TFH
Below estimates:

Updates:

Telecom Sector: As per TRAI’s data, Industry subscriber base consolidated, with RJio leads growth. Gross additions for Bharti/ RJio were muted however active subscriber ads were particularly strong for RJio at 4.1m. Reliance Jio added 0.6 million wireless gross subscribers in August vs 6.5 million subscribers in July. Bharti airtel additions slowed to 0.1 million gross subscribers vs 1.9 m in July. While Vodafone Idea continued to lose subscribers.

Securities in BAN: AMARAJABAT, ESCORTS, IRCTC, L&TFH, IDEA, NALCO, PNB, SAIL, SUNTV, TATAPOWER.

Derivative View : VIX closed at 18.31. Max Put OI is at 18200 then 18100. Max Call OI is at 18500 then 18400. Option data suggests a trading range between 18100 to 18500.

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