Another all-time high. Nifty has closed in the green for 7 consecutive days. Usually, the markets have snapped the 7-day rally and ended in the red, but it might be different this time. In history, markets have rallied for 9 days consecutively which is the highest that I have seen. There is no stopping for nifty. The retail money is just gushing because the institutions are not buying so aggressively. In August month alone it has rallied 800 points and 400 points in this week only. But banknifty has not at all rallied. It was flat for the entire week but today it might rally die to HDFC bank news.

RBI has allowed HDFC bk to issue credit cards with some conditions. This will be a good news for this and if HDFC rallies then banknifty will rally and nifty will also rally as it has a good weightage in nifty as well. But surprisingly, HDFC bk was in red yesterday. 

There is a 19000cr incentive which the govt has given to the exporters. So this is another good news for the markets to rally.

Vedanta is again in the news as they had a setback in the tuticorin case. Yesterday it was in pressure. So most of the metal stocks were also volatile. But this is a bull market. Bad news is OK news and good news is very good news.

Yesterday the US markets closed in the red after snapping 5 day gain in the dow. The US markets rallied for 5 days. Europe rallied for 10 days. Asian markets are also rallying. Indian markets have rallied for 7 days. Let's see how many days will this rally continue.


MY TRADES

  1. Yesterday the last half-hour rally spoilt the game for me. In my zerodha account, it looks like I may have to close them in loss again today.
  2. In my account, I did a lot of adjustments and I will be in profit today. I will be able to make more than 1% profit for this week.
  3. I did not do any trade in tata steel yesterday as the premiums were not attractive, but it was a textbook move that happened in tata steel. It is now again around 1500 after the rally. Last week will be interesting.
  4. SRF shot up 300 points yesterday. My trades which was in a profit of around 18k reduced to 4k. Looks like I will have to do adjustment even in this. I have the room till 9400. Will take action if that is taken out.
INTERNATIONAL MARKETS
  1. The US markets closed in the red. Dow fell 400 points and recovered some in the 2nd half. It closed after rallying for 5 days. The US markets are in the green now..
  2. Europe closed in the red
  3. Today the Asian markets are in the green.SGX is 50 points in the green. HDFC bank will be the man of today's match. Let's see
FII AND DII
  1. FII sold for 350+cr and DII bought for 250+cr
EXPIRY SETUP
  1. Nifty may goto 16700 if hdfc rallies.
  2. Banknifty may rally 500+points for obvious reason. 
  3. Keep an eye on hdfc bank. That will play a key role today.
  4. Nifty may range from 16650 - 16750

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