Skip to main content

Pre Stock Market Report, September 8, 2020

 

Pre Stock Market Report, September 8, 2020

  1. US markets were closed yesterday.
  2. So no big Global cues.
  3. Dow future recovered all their losses and trading in Green now.
  4. But still Nasdaq is trading in Red.
  5. That is not bad as money will be moving from Technology stocks to Non Technology stocks.
  6. That is sector rotation.
  7. Sector rotation happens in bull market.
  8. There are some negatives specific to India.
  9. One, DIIs keep selling heavily every day.
  10. Even yesterday, they have sold for Rs 815 crores.
  11. They have been consistent sellers for the last 9 weeks.
  12. Yesterday Idea - Vodafone event was a non event.
  13. There was nothing Major except a name change.
  14. This is nothing to be considered as Strategic alliance.
  15. Bank Nifty is looking very weak.
  16. Second, India-China border problem still going on.
  17. Over the weekend, Defense Ministers met, now Foreign Ministers meeting.
  18. Any escalation at India-China border is surely not a good news.
  19. Positive thing is that US markets are stabilising after a sharp fall.
  20. Our markets are so volatile.
  21. Yesterday, in last half an hour, Bank Nifty fell 300 points and then shot up 300 points.
  22. Reliance supported the market in the last hour.
  23. ITC opened round Rs 181, shot up to Rs 190.
  24. ITC is a good buy around Rs 180.
  25. Usually high volatile market will be the sign that market tops out or bottoms out.
  26. Due to huge volatility yesterday, yesterday's low should be the low for this series, if there is no negative news from the border.
  27. But any rise, will be sold into.
  28. Nifty is likely to consolidate between 11350 and 11550 for next few days.
  29. There seems to be firing at India-China border which has not happened in last 40 years.
  30. Though China side claims that it is a waning shot, tensions bound to rise.
  31. This kind of things happening even after defense ministers of both countries met during the last week end.
  32. In fact SGX Nifty is trading negative, if that is an indication, India will be the only country to open negative in Asia.
  33. K V Kamath Committee recommendation may be a non event for Banking stocks.
  34. Nifty future may trade between 11300 and 11450.
  35. The view as of now is Negative - Neutral.
  36. Traders should look to sell into any Pullbacks.
  37. Buying on dips should not work for now.
  38. Markets can remain Irrational for some time now but sooner or later they will come in line with economy.
  39. Nifty might Trade between 11200-11380 today.

Labels:

Comments

Post a Comment

Popular posts from this blog

Trader’s Questionnaire – Becoming a Professional Trader

  Would you like to become a trader? At WISEMANTRADING   we don’t believe this is possible through just purchasing a course / Mentorship Programme. The road to trading success is a long, hard, winding road, with many potholes, false turns, and dead-ends. Sorry, but that’s a fact. There is no Holy-Grail trading solution  Just as peak performance in sport requires years of exposure to the sport, trading success comes from years of exposure to the markets, allowing constant improvement in the trader’s ability to read changes in market sentiment and react without fear, what we do at WISEMANTRADING  is to reduce your time and money spent on the market and keep you ahead 4-6 years ahead in Trading career.  Disciplined application of the following steps will get you off to a great start to becoming a trader. Please print it out and get started from step one immediately. And as you travel along this long journey to profitability, don’t forget to enjoy the process a...
1 comment
Read more

The Greatest Trading Book – Ever!

  If you‟ve noticed the small number of pages in this blog, you may suspect that this is not the Greatest Trading Book – Ever! And you‟d be correct. But don‟t worry; there‟s a simple explanation. This blog will explain exactly how you can create The Greatest Trading Book – Ever! You see, it‟s not a book you can buy. It‟s something you create. Let me explain…
Post a Comment
Read more

Filtering Noise from Trading

Filter out the noise The signal is the truth. The noise is what distracts us from the truth. – Nate Silver.   As a trader, you are dealing with two types of information, signals and noise. Signals are meaningful pieces of information that cause traders to take action when the odds are in their favor. Signals are things that traders look for; technical buy signals, sell signals, or psychological signals like the market going up on bad news or down on good news, for example. The noise is all the price action, news, predictions, opinions, projections, and forecasts that add no value to your trading. Your ability to filter out the unnecessary and focus on the important things is what will keep you calm while other traders are suffering a psychological downtrend. You have to identify what type of information is meaningful to you. What are your signals? If your trading is only done at the end of the day, then intra-day price action may just be noise for you. Talking heads on financial ne...
Post a Comment
Read more