Actionable: Buy Tech Mahindra & Dabur

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.

Global market:
DOW: +329
SGX NIFTY: +105 (prev.close 11254)
NIFTY 50 : 11247
Sensex : 38067

Institution:
FII: -712 Cr
DII: +409 Cr

NSE:
Advances: 1226 / Declines: 1388

Currency:
Dollar: $ 73.76

Commodity:
Gold: $1893 per ounce
Crude: $42.35 per barrel

Bonds:
10 year US bond rate: 0.69
10 year Indian Bond rate: 6.02

Update:

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

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