From Advisory Desk : Vikash Sahay
16th October 2020 ; Market Outlook: US markets ended flat after recovering 1℅ from intraday low. European markets are witnessing new monthly low level as the lockdown has been re-imposed. Asian markets are trading in mix. However SGX Nifty is trading above 11750. Yesterday we saw profit booking in market, led by banking and financials. VIX surged above 22 and institutions (FIIs and DIIs) both were the sellers. We expect markets to consolidate at the current level for the day, ahead of weekend.
Actionble: Buy HUL & Asian Paints
SGX NIFTY: +65 (prev.close 11695)
NIFTY 50 : 11680
Sensex : 39728
FII: -604 Cr
DII: -808 Cr
Advances: 796 / Declines: 1843
Dollar: $ 73.38
Gold: $1911 per ounce
Crude: $42.90 per barrel
10 year US bond rate: 0.73
10 year Indian Bond rate: 5.90
Above estimates: Mindtree, Cyient
Govt bans import of Air conditioners with refrigerants with a view to promote domestic manufacturing and cut imports of non essential items. Positive for OEM’s like voltas, symphony, havells, contract manufacturers like Amber enterprises and refrigerant gas suppliers like SRF, Navin Flourine.
Securities in Ban: IDEA, ADANI ENT, BHEL, JINDALSTEL, CANBK, SAIL, IBULHSGFIN, PNB, PVR, MINDTREE ESCORTS.
Derivative View : VIX closed at 22.02. Max Put OI is at 11600 then 11500. Max Call OI is at 12000 then 11900. Option data suggests a trading range between 11500 to 12000