Daily Report 17-May-22

Government put BPCL disinvestment on hold, LIC IPO lists today – GMP as
on yesterday was around 20 – 25 discount.

Dollar Index cool-off to 104.14 & US 10-year bond yield @ 2.90% stable. FII
sell figure was low compare to last few days. Yesterday was Bank holiday
due to Budh-purnima.

SGX Nifty @ 15873.50 up 30 points at 8:10 AM

Indian market ended volatile session with minor gains as Banknifty ended more than 1% higher.

Government put BPCL disinvestment on hold, LIC IPO lists today – GMP as on yesterday was around 20 – 25 discount.

Today’s view on Indices: We remain watchful of 15780 on lower end of range & 16156 on upper end of range. Big move is expected by final F&O expiry on 26-May-22.

We see value buying opportunity in IT stocks – as most of bad news are out. Metal also remains in focus as China plans to open from June onwards. Banking stocks showing some support at lower level. Short-covering rally is could be strong but we will play only above 16156 & VIX cool-off below 22.

Click on the attachment to read the full report:

17-May-2022-Daily-Report.pdf