From Advisory Desk : Vikash Sahay
29th October 2020 : Market Outlook: Ahead of US elections and fresh lockdown in many countries is turning the capital market across the world for steep fall. US and Europe closed 4% lower. Asian markets started lower by 1%. SGX Nifty is trading at the crucial support level of 11650. Yesterday banks and financial led the fall in Nifty leading VIX to cross 23. The combination of Nifty breaking support of 11650 and vix crossing above 24 will lead to high volatility in the market. One should remain very selective trading in market until the mega event -US elections pannes out. Today being a monthly expiry, Nifty range is 11600-11850 and Bank Nifty is 23700-24800.
Actionable: No actionable for the day
SGX NIFTY: -65 (prev.close 11724)
NIFTY 50 : 11729
Sensex : 39922
FII: -1131 Cr
DII: +1 Cr
Advances: 951 / Declines: 1681
Dollar: $ 73.88
Gold: $1878 per ounce
Crude: $39.85 per barrel
10 year US bond rate: 0.79
10 year Indian Bond rate: 5.86
Today’s results announcement: Maruti, BPCL, Aavas Financiers, Aegis Logistics, Apollo Pipes, Bank of Baroda, Canara Bank, Blue Dard, Havells India, InterGlobe Aviation, Laurus Labs, JK Paper, MRPL, Orient Cement, Strides Pharma, Tata Chemicals, TVS Motor, Vodafone Idea, Zensar technologies.
Above estimates: Axis bank, ICICI securities, PI industries, APL Apollo tubes, Marico, Heromoto Corp, Route Mobile.
Inline estimates: Dr reddy’s, RBL Bank, L&T
Below estimates: MCX, Titan
Cipla: Company announced commercialisation of the antibody detection kits for Covid-19 in India, in partnership with KARWA Ltd. Cipla will market and distribute the testing kit that will be manufactured by KARWA Ltd.
Ajanta Pharma: Board to consider share buyback on November 3.
RBL Bank: RBI has granted its approval to Baring PE arm Maple II BV to acquire upto 9.99% stake in the company. RBI nod required for more than 5% stake in banks.
Securities in Ban: IDEA, COFORGE.
Derivative View : VIX closed at 23.28. Max Put OI is at 11500 then 11700. Max Call OI is at 11900 then 11800. Option data suggests a trading range between 11600 to 11900.