Shubham Agarwal, CEO and Head of Research, Quantsapp Advisory
Buy Dr Reddy’s Laboratories (DRL). The 5,400 strike Call option can be bought for a target of Rs 220 with a stop loss of Rs 130.
Buy Asian paintings. The 2,100 strike Call option can be bought for a target of Rs 74 with a stop loss at Rs 45.
Sell Oil and Natural Gas Corporation (ONGC). The 70 strike put option can be bought for a target of Rs 5 with a stop loss at Rs 2.5
Opening bell: Sensex opens slightly lower, Nifty has 11,900; car, banks fall
Indian indices opened with minor cuts Tuesday following weak trends in their Asian peers. However, losses in banking and auto stocks were limited by gains in the IT and metal sectors. At 9:18 am, the Sensex dropped 77 points to 40,516 while the Nifty dropped 24 points to 11,907. The broader markets were also in the red with mid-cap and small-cap indices down 0.4 percent and 0.2 percent, respectively. Across sectors, the banking index fell 1 percent, while the financial services index lost 0.7 percent in early trading. Nifty Auto was also down half a percent, however Nifty IT, Nifty Metal and Nifty Pharma were all in the green.
2020 US Presidential Election: Trump Tests Negative For COVID-19, Resumes His Campaign In Florida
President Donald Trump tested negative for COVID-19 on consecutive days and is not contagious to others, the White House doctor said Monday, as Trump headed to Florida for his first campaign rally since revealing he contracted. the virus. Trump’s evening rally at an airport in Sanford, Florida, will kick off a three-week sprint until Election Day, as new polls show he loses more ground to Democratic rival Joe Biden in two battle states that could decide the contest of November 3. The president’s negative COVID-19 tests were the first announced by the White House since Trump, who spent three days in a military hospital, said on Oct. 2 that he contracted the virus. In a memo, Dr. Sean Conley said that tests and other clinical and laboratory data “indicate a lack of detectable viral replication.” Biden also tested negative for COVID-19 on Monday, his campaign said in a statement. The former vice president has tested negative multiple times since Trump announced his positive test.
Oil Prices Stable Amid Return In Supply As COVID-19 Locks Tighten
Oil prices were flat in early trading Tuesday, with losses of nearly 3% from the previous session after supplies began to resume in Norway and the US Gulf of Mexico and Libya resumed. production in its largest oil field. The return in supply comes as resurgent COVID-19 infections in the U.S. Midwest and Europe raise concerns about fuel demand growth, posing a challenge to the Organization of Exporting Countries of Oil and its allies, together called OPEC +. OPEC + has cut supplies to help prop up oil prices amid the coronavirus pandemic, with cuts of 7.7 million barrels per day to be sustained through December. The Farmers Market Monitoring Panel will meet next Monday
Reliance Jio Adds 3.55 Million Users in July; Vodafone Idea loses 3.7 million subscribers, according to TRAI report
Reliance Jio added 3.55 million users to its subscriber base in July 2020, while the recently renamed Vodafone Idea or Vi lost 3.7 million users, according to the Authority’s latest telecom subscription data report. Telecommunications Regulator of India (TRAI). Bharti Airtel added 3.26 million net wireless subscribers during the month. The top five service providers accounted for 98.91 percent of the market share of total broadband subscribers at the end of July 2020. Reliance Jio maintained its position as the top wireless broadband provider with 400.80 million users, followed by Bharti Airtel with 153.25 million subscribers and Vodafone Idea with 115.26 million subscribers.
First, here is a quick update on what happened in the markets on Monday
Indian indices closed higher for the eighth straight session on Monday led by gains in IT, pharmaceuticals and consumer goods stocks. However, losses in financials, metals and automobiles limited the gains. The Sensex closed 84 points higher at 40,594 while the Nifty rose 17 points to 11,931. The broader markets underperformed the benchmark indices, with the mid-cap and small-cap indices falling 0.6 percent and 0.3 percent, respectively. Among sectors, Nifty IT rose the most, 1.7 percent, while the pharmaceutical and consumer goods indexes increased 0.9 percent and 0.3 percent, respectively. However, Nifty Bank and Nifty Fin Servcies lost half a percent each during the day. Nifty Metal and Nifty Auto were also down 0.9 percent and 0.75 percent, respectively. ITC, Infosys, UPL, Cipla and Asian Paints were the top winners in the Nifty50 index, while Bharti Airtel, JSW Steel, GAIL, HDFC Life and Tata Motors led the losses.
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