Again we made an all-time high yesterday but we could not close at that level. That's fine. Now in the US we have a stable govt finally and the world markets are cheering. Now $ index is almost at 90. This will play an important role. If it goes higher then it will be difficult for FII to pump the money as they are pumping now,
Yesterday was weekly expiry and there was not much jittery in the stock market. It was a stable expiry and I was able to make a profit of 2.5 lak.
Today we have TCS results and I have done an event trade. Let's see how things work. I will do a lot of adjustments if things go wrong.
Now that FII volumes have come down and $ index is improving, I assume that we may not continue the rally at the same rate. So I am putting a word of caution here from the risk-reward perspective.
Now the next trigger would be the budget if any magic stimulus is given by the FM.
Reliance is falling, HDFC bank is falling, Kotak is falling as it had rallied a lot due to MSCI. The real rally is now happening in the midcaps. The real estate companies are rallying as they got some relief from Maharashtra. Now other states may follow is the assumption on which the real estate is rallying.
MY TRADES
- I have slightly bearish now. There may be a correction now.
- I will be shorting nifty futures today. We may test the 20 DMA.
- I am short on bajaj finance, reliance and kotak bank.
- I had invested in vodafone at 10rs. Today it is 12.3. Its almost 20% in 4 months. This is a buy now also for a long term of atlest 2-3 years. I am buying it at every dip.
- FII have now come down to 300cr. Lets see when they will start selling.
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