Market Outlook 22-Feb-2019
Global market & Events:
SGX NIFTY:10793(-20).However NIFTY 50 closed at 10789
Dollar:71.24 vs 71.12
Gold:1325 per ounce vs 1338 per ounce
Crude:66.89 vs 66.75
US bond rate:2.68 percent
India Bond rate:7.35 percent
Market Outlook-Expecting range bound (10650 to 10900) with positive bias.
Mid cap and Small caps showing signs of pullback.
Actionable – Buy HUL,Bata,ICICI Bank,Titan.
GST council meeting on 24th February to discuss about uniform tax on lottery (Expecting to reduce to 18% from 24%) and real estate from 12% to 5% (with out input Tax credit).Oberoi Reality can be in limelight.
ING group to sells 1.12% stake in Kotak Mahindra bank via block deals in the price range of 1225-1250.Any correction in the stock is an opportunity to buy for delivery.
Derivative View-VIX Closed down by 6.78% at 15.89.Put Writing is seen at 10700 then 10800 strike while Call writing is seen at 10900 then 10950 strike.Option band signifies a trading range between 10650 to 10929 zone.