Fact.
1. After 14 trading sessions of
continuous selling, FII turned net buyer which is a good sign.
2. FII and DII both were buyers, which
lead to a huge Long Buildup.
3. Yesterday's rally was mainly because of
four stocks, HINDUNILVR, Reliance, Infosys, ICICIBANK
4. In the option chain, there is aggressive
Put writing as compared to Call. The weekly PCR and Max Pain are 1.11, and 17200 respectively.
5. Despite weaker Q1 GDP Data, US Markets
were higher in the regular trading session just because of better than expected
quarterly earnings from multiple companies.
6. But, the futures of Nasdaq and Dow
Jones fell in extended trading hours because of an unexpected loss reported by
Amazon. Apple was down despite posting a strong earnings beat, while CFO Luca
Maestri noted that supply chain constraints could hinder fiscal third-quarter
revenues.
7. Currently Asian market is showing
positive signs and SGX Nifty is indicating a 60-70 point gap up.
Conclusion
Because of the USA market, we may be dragged, but we may
expect a positive market today with the trading range between yesterday's low(
17073) and the previous week's high (17413)
Disclaimer: This blog is just for educational purposes and
it represents my view. Don’t Consider it as advice as I am not SEBI Registered
research analyst or advisor. Before taking trade do your research or consult
your financial advisor. I am not responsible for any profit or loss that arises
due to trading or investing.
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