Insight Online News
From Advisory Desk : Vikash Sahay
20th August 2021
Market Outlook: Globally the markets took a dip of upto 2% due to FOMC signalling tapering stimulus by year end, rise in covid cases and China’s economy contracting, also impacting crude prices, which has fallen to $ 67. SGX Nifty is trading 1% lower, compared to wednesday’s Nifty future closing. The gap down opening would be a good opportunity to buy good quality stocks. Today, CarTrade would be listing on the bourses.
Actionable: Buy Ultratech, TCS & Kajaria Ceramic.
SGX NIFTY: +15 (prev.close 16339) (SGX nifty prev.close 229 points lower than Nifty 50 previous close)
NIFTY 50 : 16568
Sensex : 55629
FII: -595 Cr
DII: -729 Cr
Advances: 1068 / Declines: 2123
Dollar: $ 74.24
Dollar Index: 93.52
Gold: $1785 per ounce
Crude: $66.50 per barrel
10 year US bond rate: 1.23
10 year Indian Bond rate: 6.23
Metals companies: Iron ore future prices plunged to the lowest since December in Singapore due to prospect of much lower steel production in the second half of the year in china. Other metals have also been pressured by worries of US FED may soon start curbing massive stimulus which helped to drive the prices over the year. Shanghai steel futures also dropped, with HRC down by 3.3% and rebates down by 3.8%.
Securities in BAN: CADILAHC, CANBK, NALCO, PNB, SAIL, SUNTV, VEDL.
Derivative View : VIX closed at 12.90. Max Put OI is at 16500 then 16400. Max Call OI is at 16600 then 16700. Option data suggests a trading range between 16400 to 16700.