Actionable: Buy TVS Motors, Tata motros, SRT Finance, ICICI Bank.

From Advisory Desk : Vikash Sahay

22nd October 2021

Market Outlook: US markets ended in mix. Asian markets too have started trading in mix, with SGX Nifty is trading flat. US 10-year bond yield continue its uptrend which is at 1.7%. Yesterday, broader markets are continue to remain under pressure amid a global weakness but seen a good recovery from lower levels in the last hour of trading, majorly supported by Banking and Auto stocks. Bank Nifty continue to outperform Nifty and closed above 40k mark decisively led by Kotak bank, expecting further move on expecation of strong quarterly results. Overall, we remain positive on markets with Buy on dips strategy and also may not be ruled out short covering if Nifty holds above 18250 levels.

Actionable: Buy TVS Motors, Tata motros, SRT Finance, ICICI Bank.

Global market:
DOW:  -6
SGX NIFTY:   +40  (prev.close 18246)
NIFTY 50 : 18178
Sensex : 60923

Institution:
FII:                     -2819 Cr
DII:                     +428 Cr

NSE:
Advances: 1492 / Declines: 1789

Currency:
Dollar: $ 74.86
Dollar Index: 93.71

Commodity:
Gold: $1785  per ounce
Crude: $84.90  per barrel

Bonds:
10 year US bond rate: 1.69
10 year Indian Bond rate: 6.34

Derivative:
PCR: 0.89
VIX:  18.03

Today’s results announcement: Reliance industries, HDFC life, Tata consumer products, PVR, Federal bank, Polycab, Yes bank, Crompton Consumer, Gland pharma, Hind zinc, Tata elxsi, Inox leisure, Jubilant pharmova, Dodla dairy, Kajaria ceramics, Mahindra holidays, ABB power, Supreme industries.

Results update:
Above estimates: Can fin homes, TVS motors, Indian Hotels, Trident, Macrotech developers, IEX
Inline estimates: Mphasis, JSW steel, Biocon, Icici Lombard, Indiamart
Below estimates: Asian paints

Updates:

IEX:  Board approves bonus shares in proportion of 2:1 ratio held by the shareholders of the holding company as on the record date.

Tata chemicals: As per reports, Tata chemicals is in early discussions about the potential sale of its US soda ash business for about $1 billion or more for the asset.

Wipro: Company has signed a multi year global strategic IT and digital deal with London based National Grid, a leading multinational electric and gas utility provider to accelerate their digital journey.

Securities in BAN: AMARAJABAT, ESCORTS, IRCTC, L&TFH, IDEA, NALCO, PNB, SAIL, SUNTV, TATAPOWER.

Derivative View : VIX closed at 18.03. Max Put OI is at 18200 then 18100. Max Call OI is at 18500 then 18400. Option data suggests a trading range between 18100 to 18500.

Leave a Reply

Your email address will not be published. Required fields are marked *