From Advisory Desk 21st April 2022 Market Outlook: US markets | TR Capital : Stock Market updates

From Advisory Desk 21st April 2022

Market Outlook: US markets were mixed at close. Dow jones ended higher while Nasdaq index fell more than 1% after disappointing results from Netflix. Asian markets including SGX Nifty have started on a positive note. Yesterday, Nifty has opened positive and managed to hold on to its psychological level of 17000. For short term, markets may trade in range to positive and could find selling pressure at higher levels in absence of any positive triggers. Today being weekly expiry, we expect Nifty's range to be 16950-17350 and Banknifty's range to be 35750-37000.

Actionable: Buy Reliance industries, Gujarat Alkalies, Havells.

Investment Idea ( Gland Pharma): Nicomac Machinery to sell 1.5% stake in the company today via block deal at a floor price of Rs.3118 per share which is at a discount of 6% to yesterday’s closing price. Good Opportunity to add for investment.

Global market:
DOW: +250
SGX NIFTY: +100 (prev.close 17146)
NIFTY 50 : 17136
Sensex : 57037

Institution:
FII: - 3009 Cr
DII: + 2646 Cr

NSE:
Advances: 1659 / Declines: 1741

Currency:
Dollar: $ 76.21
Dollar Index: 100.52

Commodity:
Gold: $1955 per ounce
Crude: $107.80 per barrel

Bonds:
10 year US bond rate: 2.87
10 year Indian Bond rate: 7.11

Derivative:
PCR: 0.91
VIX: 18.67

Today’s results announcement: HCL Tech, Nestle India, ICICI Lombard General Insurance Company, L&T Technology Services, Tata Communications, CRISIL, Cyient, Rallis India, Sasken Technologies, Shiva Cement.

Results update:

Above estimates: Angel One

Inline estimates: Tata Elxsi

Below estimates: ICICI Sec

Updates:

Nykaa - Company has joined hands with ELCA Cosmetics Pvt Ltd, a subsidiary of global beauty company Estee Lauder Companies, to launch premium salons in India. This move marks Nykaa’s entry into the professional beauty services segment.

Dr.Reddy - Company announced the launch of Posaconazole Delayed-Release Tablets, 100 mg, the therapeutic generic equivalent to NOXAFIL (posaconazole) Delayed-Release Tablets, 100 mg approved by the U.S. Food and Drug Administration (USFDA). The NOXAFIL brand and generic had U.S. sales of approximately $140.8 million MAT for twelve months ending in February 2022 according to IQVIA*.

Securities in Ban: Tata Power

Derivative View : VIX closed at 18.67. Max Put OI is at 17000 and 16800. Immediate max Call OI is at 17200 and 17400. Option data suggests a wider trading range between 16800 to 17400.