From Advisory Desk : Vikash Sahay
1st October 2020 : Market Outlook: Dow Jones closed with a gain of 1℅ and Dow future is up another half a percent. Asian markets are trading higher by half a percent. Dollar index is below 94. SGX Nifty is up by 100 points and is trading above 11350 which is a crucial resistance. If the markets sustains above 11350 then we can expect another 200 points bounce. Today, being an expiry we expect Nifty to be in the range of 11200-11400 and Bank Nifty to be in the range of 21200-22000.
Actionable: Buy Tech Mahindra & Dabur
IPO Listing : CAMS shares to start trading in exchanges today after oversubscribed by 47 times. Chemcon Speciality shares to start trading in exchanges today after oversubscribed by 149 times.
SGX NIFTY: +105 (prev.close 11254)
NIFTY 50 : 11247
Sensex : 38067
FII: -712 Cr
DII: +409 Cr
Dollar: $ 73.76
Gold: $1893 per ounce
Crude: $42.35 per barrel
10 year US bond rate: 0.69
10 year Indian Bond rate: 6.02
The government has reset the price of domestic natural gas at $1.79 vs $2.39 per mmBtu ( 25% cut) for the period of October- March. Negative for gas exploration companies like ONGC, OIL ltd and positive for industries that use natural gas as input, primarily fertilizer, power, ceramic, CGD etc.
Securities in Ban: VEDL.
Derivative View : VIX closed at 19.53. Max Put OI is at 11000 then 11200. Max Call OI is at 11400 then 11500. Option data suggests a trading range between 11200 to 11500.
Bank Nifty can show strong buyount upmove today stay long trades with stop loss
Govt will impose a 5% customs duty on imports of open cell for TV panel – Positive for televisions Dixon Tech and Amber Enterprises
Government will impose a 5% customs duty on imports of open cell for televisions from October 1, 2020, as the government seeks to increase local manufacturing and value addition. … “Leading brands are importing Open Cell for a basic price of Rs. 2700 for a 32 inch and about Rs. 4000 to Rs. 4500 for a 42 inch television. Positive for Dixon Tech and Amber Enterprises