Actionble: Buy HUL & Asian Paints

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

Global market:
DOW: -20
SGX NIFTY: +65 (prev.close 11695)
NIFTY 50 : 11680
Sensex : 39728

Institution:
FII: -604 Cr
DII: -808 Cr

NSE:
Advances: 796 / Declines: 1843

Currency:
Dollar: $ 73.38

Commodity:
Gold: $1911 per ounce
Crude: $42.90 per barrel

Bonds:
10 year US bond rate: 0.73
10 year Indian Bond rate: 5.90

Today’s results announcement: Hcl technologies, Federal bank, Tata communications.

Results update:
Above estimates: Mindtree, Cyient

Update

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

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