Actionable: Buy Tata steel, Tech Mahindra, Tata Chemicals, Escorts ( Only in cash market),

Insight Online News

From Advisory Desk : Vikash Sahay

23rd September 2021
 
Market Outlook: US markets closed higher upto one percent after FED has kept interest rates near zero but indicated that rate hikes coming sooner than expected and bond tapering may start soon if progress continues. Asian markets have opened strongly after near resolution of Evergrande issue, with SGX Nifty up by 100 points. Crude oil raises over 2% and trading above 75 level after seventh straight weekly decline in US crude inventories, indicates a tightening market. Today being weekly expiry, we expect Nifty’s range to be 17500-17750  and banknifty’s range to be 36500-37500.
 
Actionable: Buy Tata steel, Tech Mahindra, Tata Chemicals, Escorts ( Only in cash market),
 
Global market:
DOW:  +338
SGX NIFTY:  +115  (prev.close 17553)
NIFTY 50 : 17546
Sensex : 58927

Institution:
FII:                     -1943 Cr
DII:                    +1850 Cr

NSE:
Advances: 2074 / Declines: 1175

Currency:
Dollar: $ 73.87
Dollar Index: 93.50

Commodity:
Gold: $1763  per ounce
Crude: $76.40  per barrel

Bonds:
10 year US bond rate: 1.30
10 year Indian Bond rate: 6.14

Derivative:
PCR: 0.90
VIX:  16.49

Updates:
 
Escorts: As per reports, Kubota, a Japanese agriculture and heavy equipment firm, is in talks with promoters of escorts to acquire the stake gradually and become a controlling shareholder in the company.

Bharti airtel: Company has announced the record date for its Rs.21,000 crore rights issue. The rights issue will open on Oct 5th and close on Oct 21.

Securities in BAN: ESCORTS, IBULHSGFIN, IDEA, IRCTC, PNB, SUN TV.
 
Derivative View : VIX closed at 16.49. Max Put OI is at 17500 then 17400. Max Call OI is at 17700 then 17800. Option data suggests a trading range between 17400 to 17800.

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