- On Friday, the markets were flat but it was volatile. There was a banknifty which shot up in the last hour. This might be for the covering over the weekend. Today we will get confirmation if that was short covering or just a trap to bulls.
- Over the weekend there was a news from SEBI for multicap funds. SEBI told that multicap funds should invest at least 25% in small cap and mid caps. But again they gave some relaxation so now funds may not be in a hurry to buy in small cap and mid caps. The fund managers are now divided over the new SEBI rule.
- Now looks like COVID second wave might come back. Israel is for a second lockdown. The cases in India, US are rising at an alarming rate. There might not be a knee jerk reaction if there is a second lockdown as we had in feb-march. All depends on how the US will react. If they do not lockdown then it does not matter.
- UK GDP which came was good. It was up by 6%.
- Reliance is holding the market. Now the fresh investment in its retail is taking it higher. One more investor is looking to invest more than a billion.
- Oracle has won the tik-tok challenge in the US. They won the tik-tok US operations.
MY TRADES
- In Reliance, I have done the below trade
- 2500ce X -1
- 2600ce X 1
- I have done put ratio spread for nifty
- I have done call ratio spread in banknifty.
- The above 2 trades will hedge each other.
INTERNATIONAL MARKETS
- The US futures markets are higher. On Friday, the techs fell and now they are showing signs of recovery.
- European markets were flat.
- Today the Asian markets are in the green. SGX suggests that we will open in the green.
FII AND DII
- FII have now bought in the cash after days of selling. So this might be short covering which happened in the banknifty in the last hour.
- FII have bought for 1175cr and DII sold for 725cr
CRUDE AND $
- Crude is at $40
- $ is at Rs 73.53
Good work sir
ReplyDelete