Actionable: Buy Tata motors, SBI, JSW steel, NOCIL.

Insight Online News

From Advisory Desk : Vikash Sahay

16th September 2021

Market Outlook: Yesterday, Nifty IT, Telecom, Banks and PSU sectored pushed Nifty to surpass 17500 level and closed at all time high. Though today Asian markets are indicating a pause in the run but market looks good on every dip. US markets ended higher led by energy shares after US crude inventories decline to higher than expected and continued rally in natural gas price which is at 7-year high. Today being weekly expiry, we expect Nifty’s range to be 17350-17700 and Banknifty’s range to be 36500-37250. Yesterday, Govt announced a very good relief measures for telecom helping the sector for growth and PLI scheme for auto and auto ancillary.

Actionable: Buy Tata motors, SBI, JSW steel, NOCIL.

Global market:
DOW:  +236
SGX NIFTY:  +15  (prev.close 17533)
NIFTY 50 : 17519
Sensex : 58723

Institution:
FII:                      +233 Cr
DII:                      +168 Cr

NSE:
Advances: 2033 / Declines: 1262

Currency:
Dollar: $ 73.49
Dollar Index: 92.48

Commodity:
Gold: $1797  per ounce
Crude: $75.25  per barrel

Bonds:
10 year US bond rate: 1.29
10 year Indian Bond rate: 6.16

Derivative:
PCR: 0.82
VIX:  13.73

Updates:

Wipro: The company has secured a multi year IT managed services contract from Maxis Broadband, a leading converged solutions provider in Malaysia.

Hindustan Copper OFS: Govt to sell upto 10% stake in the company with an option to additionally sell 5% stake through OFS at a floor price of Rs.116 per share, which is a 7% discount to yesterday’s closing price. Offer opens today for non retail investors and tomorrow for retail investors.

Securities in BAN: CANBK, ESCORTS, EXIDEIND, IDEA, IRCTC, LICHSGFIN, NALCO, SUN TV, ZEEL.

Derivative View : VIX closed at 13.73. Max Put OI is at 17400 then 17500. Max Call OI is at 17700 then 17600. Option data suggests a trading range between 17400 to 17700.

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