| Indian Market | 11-Jan-22 | ||
|---|---|---|---|
| Indices | Close | Change | % chg |
| Nifty | 18055.75 | 52.45 | 0.29% |
| Sensex | 60616.89 | 221.26 | 0.37% |
| Banknifty | 38442.20 | 94.30 | 0.25% |
| Indian Market | 11-Jan-22 | ||
|---|---|---|---|
| Other Indices | Close | Change | % chg |
| Nifty Mid-Cap 100 | 31400.40 | 28.75 | 0.09% |
| Nifty Small-Cap 100 | 11646.70 | 6.55 | 0.06% |
| India VIX | 17.76 | 0.08 | 0.45% |
| US Market | 11-Jan-22 | ||
|---|---|---|---|
| Indices | Close | Change | % chg |
| Dow 30 | 36252.02 | 183.15 | 0.51% |
| S&P 500 | 4713.07 | 42.78 | 0.92% |
| Nasdaq | 15153.40 | 210.60 | 1.41% |
| Currency / Commodity | 11-Jan-22 |
|---|---|
| Indices | Current |
| USD/INR | 73.9150 |
| EUR/INR | 83.770 |
| Dollar Index | 95.578 |
| US 10-year bond | 1.7370% |
| WTI Crude Oil | $ 81.51 |
| Brent Crude Oil | $ 83.88 |
| Gold | $ 1819.45 |
| Bitcoin | $ 42,601 |
| FII / DII Activity | 11-Jan-22 | Rs. (In Crores) |
|---|---|---|
| (Provisional) | Buy | Sell |
| FII | 111.91 | |
| DII | 378.74 |
Trade Setup
- Powell’s testimony: “I would expect that this year 2022 will be the year in which we take steps toward normalization [of monetary policy],” Powell said.
- Wall Street recovered from lows and comfortably close in green, Nasdaq was up 1.41% as technology stocks recovered. Important US data to watch out: CPI & Core CPI inflation data.
- IT major to come out with Q3 result today: TCS buyback announcement in focus. Guidance revision from INFY & WIPRO could be healthy.
- SGX Nifty @ 18231.50 up 140.50 points at 8:05 AM.
Technical View
- Nifty, indicative opening around 18200 was our target on Nifty @ 18215. Now 17944 act as immediate support as retracement from this level led to this level.
- Nifty RSI @ 65.74 & RSI average @ 60.02, we expect some consolidation as RSI approaches 70 level.
- Banknifty next target and resistance at 38981 level and support level comes at 37539.
- VIX @ 17.76, is stable in range of 16 – 19, we would turn cautious if VIX crosses 19 / 20 level.
Stock Updates
- Tata Consumer Products: The company has appointed Gharry Eccles as President – International Business with effect from January 17, 2022. Eccles will replace Adil Ahmad who will be retiring from the company on May 31, 2022.
- Tata Teleservices: The company has decided to convert interest related to AGR dues of Rs 850 crore into equity. The government will hold approx. 9.5% stake as per company’s estimates. In October, the company had decided to opt for deferment of these dues.
- Shriram Transport Finance: The company has raised $475 million Fixed Rate Senior Secured 144A /Reg S Bond (available ECB limit for FY22) for a 3.5-year tenor at an interest rate of 4.15%. The proceeds from the STFC social bond would be used for employment generation, including through MSME financing.
- Hindalco: Novelis, a wholly owned subsidiary of the company, will build $365 million aluminum recycling plant in U.S. with annual capacity of about 240,000 metric tons of sheet ingot. It is expected to commence operations in 2024.
- Ultratech Cement: The company has commissioned Line II of the Bara Grinding Unit in Uttar Pradesh taking its total cement manufacturing capacity in India to 114.55 mtpa.
Disclaimer: The market view and updates we are sharing are true to the best of our knowledge and sharing just for information purpose and any action would be purely investor’s own responsibility. Investor are advised to take necessary guidance from certified adviser and hence we will not be responsible for any profit or loss incurred due it. We do not have PMS license and we are not recommending anything to buy or sell.