Actionable: Buy TVS Motors, DLF

Insight Online News

From Advisory Desk : Vikash Sahay

29th October 2021

Market Outlook: US markets ended at another all time high on back of strong earnings despite of below estimate Q3 GDP data which is at 2%. Asian markets have started in mix, with SGX Nifty is indicating a positive opening. Yesterday, indian markets are under pressure throughout the day and both the indices breached their immediate support levels due to Strong FII’s selling amounting over Rs.10,000 in this week alone, Indian equities downgraded by Morgan Stanley due to high valuations and disappointing results from few companies. Overall, we expect the volatility to continue and the bias has turned cautious on stock selection at this levels. IRCTC would be under pressure for few days and the sentiment may impact on other PSU’s, after the announcement of convenience fee sharing with indian railways. Auto stocks would be in focus ahead of monthly sales number.

Actionable: Buy TVS Motors, DLF

Global market:
DOW:  +239
SGX NIFTY:   +10  (prev.close 17880)
NIFTY 50 : 17857
Sensex : 59984

Institution:
FII:                     -3819 Cr
DII:                    +837 Cr

NSE:
Advances: 900 / Declines: 2387

Currency:
Dollar: $ 74.92
Dollar Index: 93.36

Commodity:
Gold: $1800  per ounce
Crude: $83.90  per barrel

Bonds:
10 year US bond rate: 1.56
10 year Indian Bond rate: 6.36

Derivative:
PCR: 0.89
VIX:  17.91

Today’s results announcement: BPCL, Dr.Reddy, UPL, Apollo tyres, Adani power, Bandhan bank, BEL, Cadila healthcare, Castrol india,  Cholamandalam investments, Dixon, Emami, Embassy office park REITs, Equitas small finance bank, Escorts, Exide, GAIL, Glaxo pharma, Indigo paints, Oberoi realty, REC, SAIL, SRT finance, Shree cement, Vedanta, Voltas, LT foods, JK Lakshmi cement, JSW energy, Kolte patil developers, Neuland labs, RPG life, Sumito chemicals, TTK healthcare, Varun beverages, VIP industries.

Results update:
Above estimates: Indigo, M&M financial, West life development
Inline estimates: Marico, SBI cards, Indian bank,
Below estimates: Laurus labs, Gujarat gas, RBL bank

Updates:

IRCTC: Railway ministry asked the company to share revenue in convenience fee in the ratio of 50:50 from 1st Nov. Internet ticketing segment contributes majority of the profits of the company.

Banking stocks: The government has extended the tenure of the RBI Governor Shaktikanta Das, for another three years till December 2024.

Securities in BAN: NIL

Derivative View : VIX closed at 17.91. Max Put OI is at 17500 then 17800. Max Call OI is at 18000 then 18100. Option data suggests a trading range between 17500 to 18100

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