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DOW Futures is up by 400 Pts, Nikkei & Kospi climbs 2% and SGX Nifty up 80 Pts touching 11000 after long. U.S. financial markets will be close on Wednesday.

DOW Futures is up by 400 Pts, Nikkei & Kospi climbs 2% and SGX Nifty up 80 Pts touching 11000 after long. U.S. financial markets will be close on Wednesday.
December 03
05:23 2018

Vikash Sahay

03-December – From Advisory Desk ; Vikash Sahay

Global market & Events:

Dow Up +400
SGX + 60 PTS
RUPEE – 69.58
CRUDE 69.84
FII (-339 CR)
DII + 1489 CR
UB BOND YIELD – 3.02
INIDA BOND YIELD – 7.60

Actionable – Pharma looks good positive for the week, we like Auro Pharma and Dr Reddy. United Spirit Continue to look good for buying. Metal Companies JSW Steel, Vedanta, Hindalco
On Saturday oil companies reduced ATF prices by 11% , positive for airlines. Sun Pharma under SEBI lens regarding whistleblower allegations. Negative for the stock. Expecting selling in the stock today.

Derivatives view – Nifty closed at10877. VIX index closed a percent higher by 1.82% at 19.04 levels. We witnessed increase in PUT OI of more than 10 lacs contracts at 10700, 10800 levels. This indicates support is shifting higher to 10700,10800. However Call OI is not witnessing meaningful addition. 10900,11000 levels witnessed increase is OI. We are expecting nifty range to be 10750-11000.
Overall data suggests Buy on decline strategy.

Updates –
China & US not to impose fresh tariffs from January which is positive for the market. US will hold off on raising China tariffs to 25% as Trump & Xi Jinping agree to a 90-day trade truce. Russia, Saudi Arabia agree to renew oil output cuts. Brent crude jumped 4.12 percent higher on Friday, the most in over two years, to $61.30 per barrel ahead of OPEC which is on 6-7 December.

DOW Futures is up by 400 Pts, Nikkei & Kospi climbs 2% and SGX Nifty up 80 Pts touching 11000 after long. U.S. financial markets will be close on Wednesday.

There is action in COMMODITIES like Copper up 1.6%, Zinc up 5%, Aluminium up 2%, Steel Rebar up 3% & Iron Ore up 4%. Positive for Metal companies like JSW Steel, Vedanta, Hindalco.

Events during this week. 5th RBI Policy, 6th OPEC Meeting, 7th (post market) exit poll results.

Auto Numbers- Maruti ( 153k vs 143k below expectation) , Escorts ( 8k vs 5.7k above expectation), M&M (ex tractors) numbers better than expected. Hero Motors less than expectation, MOM basis 17% de growth in sales.

Sun Pharma under SEBI lens regarding whistleblower allegations on Sunpharma ,it’s promoters and his brother in law and also Ranbaxy insider trading gain. Earlier Macquarie in their Report raised concerns regarding its subsidiaries, links to certain individuals etc. In Motilal Oswal report ,also raised concerns to a rise in related party transactions and loans and advances to non-related parties. Negative for the stock. Expecting selling in the stock today.

Value Management Solution Pvt.Ltd

Mr. Vikash Sahay  can be contacted at +91 9835622223

FII & DII bought 900 cr & 800 Cr respectively.

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