- On Thursday it was clear trending day and it gave hopes that we may move to 12000 again.
- But on Friday, that hope was lost.
- Monsoon looks to be as expected.
- The surprising thing is that markets are falling after a stable government is formed.
- So the pre-election result rally had factored and was overvalued.
MY TRADES
- We have another 4 days for this series. So 12000 may not happen. I am not expecting much on the downside as well.
- So, not taking many positions till budget. Will trade aggressively after the budget.
- I am expecting some stimulus for the auto and the real estate sector. Keeping an eye on beaten down autos like Maruti etc
INTERNATIONAL MARKETS
- The US closed in red on Friday. There was some tension between Iran as they shot some drone.
- Europe also closed in the red.
- Today morning, Asia is mixed and slightly in the green. SGX suggests that we may open in green.
- The confidence will return when nifty closes above 11850.
CRUDE AND $
- Crude is increasing. It increased by 10% last week. There are rumours that the US may put sanctions on Iran.
- The crude which had entered the bear market is not back to the bull market.
- $ is still within 70. World politics will decide the movement of these components.
FII AND DII DATA
- FII sold for 730 cr and DII bought for 455cr
- On Thursday when nifty rallied, not much action was done by FII and DII.
- On Friday when the market fell, FII has sold more. So better to wait for the budget to provide more triggers before taking any trade.
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