morning thoughts...
Well the markets behaved in exactly the same pattern as expected and the strategy of sell on rallies paid off well.
Technically the markets are still under pressure but close to support levels and see some occasional bounces giving oppurtunities to both long and short traders.
India has broken the jinx of below 5% growth that had been haunting it for 9 quarters. Over the last few months, the consumer outlook index in India has risen by around 8%. The timing of fall in the prices of key commodities, such as crude oil and select metals could not have been better. Not only have these helped the rupee get stronger and curb inflation, but also eased India's fiscal deficit concerns. Needless to say, the upgrade in India's sovereign rating has been the icing on the cake. Well, India's huge demographic dividend has been there for long.
However, without the urgency to push forth necessary reforms, growth prospects were in the back burner. Needless to say India was a pariah of sorts for the biggest global investment funds until a few months back.
Astrologically mercury turns retrograde which is the mover of mind , hence will create confusions and deceptions in days to come.
Wednesday is a moon eclipse which will have its effect on equity and commodity markets , there is a solar eclipse on diwali but the eclipse will not be seen in india so it effects are not valid and applicable for people here nor for equity or commodity markets.
The government's focus on reviving the manufacturing sector through the 'Make in India' campaign and the resolve to liberalize tortuous trade barriers has revived the interest of global investors. Among the BRIC nations, India is considered to have the best potential. The country is witnessing inflow of foreign funds from investors who want to be a part of the growth story. However, what is most interesting is that some of the key foreign funds are actually walking the talk by increasing their exposure to India. Infact CLSA's Chris Wood, one of the best strategists in Asian markets considers India his favorite market in the region. And it's not just an empty talk. He has 41% of his long only portfolio allocated to India.
Coming to the commodity markets bullions , base metals and energy will continue to trade volatile with positive bias.
Jackpot options - buy tech mahindra 2400 pa
Double bumper - buy infosys 3700 pa
Buy rallis india , itc
Buy sesa goa , jspl
Buy nifty and bank nifty on dips
Tuesday's calls sent
Nifty - sell at cmp 7955 sl 7980 targets 7890 - went 7883
Bank Nifty - sell at cmp 15390 sl 15475 targets 15200 - went 15233
Sparc - buy at cmp 199 sl 197 targets 208 - went 207.65
Pfc - sell at cmp 236 sl 238 targets 230 - went 225.10
Double Bumper Dlf 140 pa - buy at cmp 3.30 sl 2 targets 6 - went 6.40
Petronet lng 180 pa - buy at cmp 5.50 sl 4 targets 8 - went 8.05
Jp associates - sell at cmp 26.50 sl 27.35 targets 24 - hit stoploss
Hdil - sell at cmp 84 sl 85.50 targets 81 - hit stoploss
Silver - sell at cmp 38375 sl 38500 targets 38100- booked at 38150
Crude - sell at cmp 5545 sl 5577 targets 5490 - booked at 5495
Well the markets behaved in exactly the same pattern as expected and the strategy of sell on rallies paid off well.
Technically the markets are still under pressure but close to support levels and see some occasional bounces giving oppurtunities to both long and short traders.
India has broken the jinx of below 5% growth that had been haunting it for 9 quarters. Over the last few months, the consumer outlook index in India has risen by around 8%. The timing of fall in the prices of key commodities, such as crude oil and select metals could not have been better. Not only have these helped the rupee get stronger and curb inflation, but also eased India's fiscal deficit concerns. Needless to say, the upgrade in India's sovereign rating has been the icing on the cake. Well, India's huge demographic dividend has been there for long.
However, without the urgency to push forth necessary reforms, growth prospects were in the back burner. Needless to say India was a pariah of sorts for the biggest global investment funds until a few months back.
Astrologically mercury turns retrograde which is the mover of mind , hence will create confusions and deceptions in days to come.
Wednesday is a moon eclipse which will have its effect on equity and commodity markets , there is a solar eclipse on diwali but the eclipse will not be seen in india so it effects are not valid and applicable for people here nor for equity or commodity markets.
The government's focus on reviving the manufacturing sector through the 'Make in India' campaign and the resolve to liberalize tortuous trade barriers has revived the interest of global investors. Among the BRIC nations, India is considered to have the best potential. The country is witnessing inflow of foreign funds from investors who want to be a part of the growth story. However, what is most interesting is that some of the key foreign funds are actually walking the talk by increasing their exposure to India. Infact CLSA's Chris Wood, one of the best strategists in Asian markets considers India his favorite market in the region. And it's not just an empty talk. He has 41% of his long only portfolio allocated to India.
Coming to the commodity markets bullions , base metals and energy will continue to trade volatile with positive bias.
Jackpot options - buy tech mahindra 2400 pa
Double bumper - buy infosys 3700 pa
Buy rallis india , itc
Buy sesa goa , jspl
Buy nifty and bank nifty on dips
Tuesday's calls sent
Nifty - sell at cmp 7955 sl 7980 targets 7890 - went 7883
Bank Nifty - sell at cmp 15390 sl 15475 targets 15200 - went 15233
Sparc - buy at cmp 199 sl 197 targets 208 - went 207.65
Pfc - sell at cmp 236 sl 238 targets 230 - went 225.10
Double Bumper Dlf 140 pa - buy at cmp 3.30 sl 2 targets 6 - went 6.40
Petronet lng 180 pa - buy at cmp 5.50 sl 4 targets 8 - went 8.05
Jp associates - sell at cmp 26.50 sl 27.35 targets 24 - hit stoploss
Hdil - sell at cmp 84 sl 85.50 targets 81 - hit stoploss
Silver - sell at cmp 38375 sl 38500 targets 38100- booked at 38150
Crude - sell at cmp 5545 sl 5577 targets 5490 - booked at 5495
