Insight Online News
From Advisory Desk : Vikash Sahay
12th October 2021 : Market Outlook: Dow futures is trading lower by half a percent, after US markets were closed in red ahead of major tech companies earnings in this week. Asian markets have started trading lower by upto 2%, with SGX Nifty is down by 120 points. Dollar index surged to one year high which is at 94.40. Today, CPI and IIP numbers would be released for September and August months respectively. Yesterday, Indian markets hit new highs and Nifty has finally conquered the psychological landmark of 18000 level as gains in Nifty bank and Nifty Auto stocks were offset by weakness in IT stocks . Bank Nifty setup is looking very positive from trading point of view with major support at 37700 . Overall, we remain positive on markets however one should be very stock selective at this levels.
Actionable: Buy SBI, Tata steel, Hindalco, HCL Tech.
SGX NIFTY: -120 (prev.close 17961)
NIFTY 50 : 17945
Sensex : 60135
FII: -1303 Cr
DII: -373 Cr
Advances: 1914 / Declines: 1520
Dollar: $ 75.36
Dollar Index: 94.41
Gold: $1755 per ounce
Crude: $83.25 per barrel
10 year US bond rate: 1.61
10 year Indian Bond rate: 6.34
Today’s results announcement: BEPL, GM Breweries, Indian bank
Hindalco & Nalco : Globally, Aluminum prices rose to 13- year high as a deepening power crisis squeezes aluminum supply. Earlier, China a leading producer, has already announced output curbs as a part of anti pollution and production further hit by power shortages in the country.
Vodafone & Banks: As per reports, Kumar mangalam Birla is considering to infuse his own capital in Vodafone idea while Vodafone group may sell at least a part of it stake in indus tower. However, this will be followed by external funding.
Hcl technologies: Has expanded its strategic partnership with Google cloud to jointly launch healthcare and life sciences solutions for customers. This partnership will deliver the best of HCL and Google Cloud’s deep healthcare and life sciences domain capabilities.
Securities in BAN: BANKBARODA, BHEL, CANBK, IBUHSGFIN, IRCTC, NALCO, PNB, SAIL, SUNTV.
Derivative View : VIX closed at 16.08. Max Put OI is at 17800 then 17700. Max Call OI is at 18000 then 18200. Option data suggests a trading range between 17700 to 18200.