From Advisory Desk : Vikash Sahay
28th October 2020 : Market Outlook ; The color of the wall street continues to be red as Dow Jones ends lower by 300 points and Dow future is down by another 150 points. Asian markets too are trading in red by half a percent, including SGX Nifty which is down by 40 points. Yesterday,banks and financials drove Nifty to 11900 however this run could be short lived. Nifty’s crucial support stands at 11650 ahead of US elections outcome.
Actionable: Buy Tata Consumer, Bharti Airtel.
SGX NIFTY: -45 (prev.close 11887)
NIFTY 50 : 11889
Sensex : 40522
FII: +3515 Cr
DII: -1571 Cr
Advances: 1255 / Declines: 1399
Dollar: $ 73.70
Gold: $1908 per ounce
Crude: $40.9 per barrel
10 year US bond rate: 0.77
10 year Indian Bond rate: 5.85
Securities in Ban: IDEA, COFORGE
Today’s results announcement: Axis Bank, Dr Reddy’s Laboratories, Hero MotoCorp, Larsen & Toubro, Titan, APL Apollo Tubes, Aavas Financiers, Blue Star, Carborundum Universal, AU Small Finance Bank, Cummins India, GSK Pharma, Firstsource Solutions, ICICI Securities, Marico, MCX, Navin Fluorine, PI Industries, PNB Housing, Radico Khaitan, RBL Bank, Route Mobile, Tata Coffee, UTI AMC, V-Guard Industries, Welspun Enterprises.
Above estimates: Tata motors, Bharti Airtel, Castrol, Icici pru life, Amara raja, Ceat
Inline estimates: KPR Mills, NAM india
Hero MotoCorp: Company announces agreements with Harley-Davidson for the Indian market. The company will sell and service Harley motorcycles and sell parts & accessories through network of Harley dealers and its existing dealership network. It will also develop and sell a range of premium motorcycles under the Harley-Davidson brand name.
ICICI Bank: US SEC has concluded its investigation into the bank’s loan impairment provisions under US GAAP and that the SEC does not intend to take any enforcement action against the lender.
Derivative View : VIX closed at 22.19. Max Put OI is at 11500 then 11700. Max Call OI is at 12000 then 12200. Option data suggests a trading range between 11700 to 12000.