Market Outlook 26-Feb-2019
Market & Events
Global market & Events:
SGX NIFTY:10886(-6).However NIFTY 50 closed at 10880
Dollar:70.98 vs 71.14
Gold:1328 per ounce vs 1330 per ounce
Crude: 64.40 vs 67.25
US bond rate:2.64 percent
India Bond rate:7.41 percent
Market Outlook – Expecting market to open weak due to news regarding air strike.
Wait for correction to buy.
Actionable – Buy Infosys,Wipro at market correction.
As per NCLT tribunal,IL&FS accounts will not be treated as NPAs.
As per Skymat,expecting normal rainfall for 2019 which is Positive for the economy.
Eicher Motors – Announces resumption of normal manufacturing operations at Chennai facility.All three plants of the company are now fully operational from Feb 23.
Estimated impact of strike around 3200 motorcycles.
Derivative View – VIX closed at 15.35.
Meaningful Put writing is seen at 10800 then 10750 strike while Call OI is at 11000 and 11100.Option band signifies trading range between 10777 to 10980 zone.
Source : MOSL View