- Yesterday was a bad day and 11000 which was the support has been broken. Doller index is the reason for the collapse.
- Now the promoters of various companies are selling their shares. This is somewhat a negative sentiment fo the markets.
- We have RBI policy this week and there is a huge hope from the RBI.
- The main draggers were the reliance, hdfc twins, bajaj twins. The Auto numbers were good month on month but still the auto companies were beaten.
- For now the pharma sector seems to be good and there is a volume breakout in various companies like Reddy labs, sun pharma, cadila. So for now that is the promising sector.
- Yesterday, tatamotors came with its numbers and the stock was up by 8%.
- The $ getting strong is a positive for IT and Pharma. Since IT has rallied, there is a huge flow to pharma.
- Still there is no clear indication that the markets will fall more and trend reversal. I am waiting for more confirmation to short the market.
- The US has put strict laws on the H1B visas.
MY TRADES
- I have bought sun pharma stocks in cash(small quantity). I will be adding more if there is more fall to average it. I have also sole some cash-secured puts.
- I have done the below trade in nifty
- sell 11000ce X 1
- sell 11000pe X 1
- I have executed the below strategy in the tata motors as there was earning yesterday
- sell 127.5ce X 1
- buy 132.5ce X1
INTERNATIONAL MARKET
- The US markets closed in the green. The Nasdaq gained more than a percent. Apple and Microsoft have surged and are major contributor to the nasdaq. Dow gained about a percent.
- European markets also gained more than 2% in yesterday's trade.
- Today morning the Asian markets are positive. But SGX is suggesting a flat start. Lets see if 11000 will be taken.
FII AND DII
- FII bought for 7800+cr. This is majorly due to the bhandhan bank stake sale by promoters. So no need to consider this figure for today.
- DII have sold for 135cr
CRUDE AND $
- $ is trading at Rs 75+. This is good for IT and Pharma.
- Crude is at alost $44
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