Market Outlook 28-Feb-2019

Global market & Events:

DOW: -73 (Cohen testimony didn’t impacted the US markets)

SGX NIFTY:10797 (-7).However NIFTY 50 closed at 10806.

Dollar : 71.24 vs 71.07

Gold:$ 1318 per ounce

Crude: $ 66.26 per barrel

10 year US bond rate : 2.67 percent

10 year Indian Bond rate: 7.47 percent

VIX: 18.90(+10.5%)

FII: +423

DII: +66

Market View – Sideways.

Actionable – Buy Voltas and Havelles for one to two month.Also buy UPL,Axis bank,Infosys,JindalSteel.

Expecting increase in NPA in Real estate sector due to lack funding,higher inventory sales and weak property sales which is negative for NBFC’s exposed to Real estate like Indiabul Housing,Edelwise,L&T Finance.

Cement – Expecting capacity utilisation to improve going forward.Buy for Investments Ramco Cements.

Derivative View – VIX moved up sharply by 10.45% at 18.90 level.Max Put OI is at 10400 then 10700 strike and Max Call OI is at 10900 then 11000 strike.Option band signifies a trading range between 10700 to 10950 zone.

Source : - MOFSL View

 

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