- Yesterday was another wonderful day for the bulls. Nifty shot up 56 points to close and banknifty rose 104 points. I feel that we have risen a lot in a short span of time. The fiscal is not supporting the movement.
- But as of now, the trend is clear and markets are expanding.
- Autos, pharma, metals are taking the market higher.
- GST council meet has decided not to hike the GST rates which were as expected. But they have decided to levy 28% GST on the lottery all over India.
- Tata sons had a setback yesterday when the NCLAT decided that Cyrus Mistry should be the chairman and Chandrashekeran appointment was illegal.
- Tatamotor DVR is down 3% after the Mistry news.
- In the USA, Donald Trump has been impeached by the house by a majority for abuse of power.
MY TRADES
- I feel that the market has moved a lot in a short span of time. So I shorted banknifty. Initially, I was in good profit. But later in the second half, markets recovered and I am now in a small loss. I will be carrying this to expiry. Let's see, if markets fall. I never kept any stop loss. Since the quantity is small, I don't need to bother much.
- I had sold ITC futures some time back and that is working well in my favour. Yesterday I added more to that. Will carry that till budget if it behaves the way I want it.
CRUDE AND $
- $ is now at Rs 70.97
- Crude is at $66.20
FII AND DII DATA
- FII's were net buyers yesterday in the cash market. They bought for 1836cr and DII have sold for 1267cr
EXPIRY SETUP
- Nifty has the highest OI at 12200ce and 12100pe.
- Banknifty has the highest OI at 32500ce and 32000pe
- Nifty has a maxpain at 12200 and banknifty has a maxpain at 32200
- Today nifty may range from 12100 to 12250
- Banknifty may range from 32500 to 32000
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