Insight Online News
From Advisory Desk : Vikash Sahay
29th December 2021
Market Outlook: US markets witnessed a mixed bag, however futures are trading in positive higher by upto a quarter percent. Asian market have started on weak note, with SGX Nifty is indicating slightly negative opening. On domestic front, FIIs have turned into net buyers after almost one month as sellers in cash. Nifty extended gains for second consecutive day and closed above 17200 which acts as immediate support. In the last few days, we have seen every dip is being bought into by investors which clearly shows buying interest at lower levels. Overall, we may see some cool off today after the recent rally.
Actionable: Buy Sun pharma, Metropolis, Balrampur Chinni,
SGX NIFTY: -60 (prev.close 17262)
NIFTY 50 : 17233
Sensex : 57897
FII: +207 Cr
DII: +567 Cr
Advances: 2590 / Declines: 805
Dollar: $ 74.65
Dollar Index: 96.23
Gold: $1806 per ounce
Crude: $78.75 per barrel
10 year US bond rate: 1.47
10 year Indian Bond rate: 6.48
Divis labs: Govt has approved Mercks’s oral drug ( molnupiravir) for restricted use for high risk Covid-19 patients. Total 13 companies like Sun pharma , Auro pharma, Dr reddy and Natco pharma to manufacture and market in india. Divis labs is the authorized API supplier for the drug to Merck’s and VL’s partners in india.
Securities in Ban: IDEA, IBULHSGFIN, RBL Bank.
Derivative View : VIX closed at 16.47. Immediate max Put OI is at 17000 then 17200. Max Call OI is at 17500 then 17300. Option data suggests a trading range between 17000 to 17500.