- US markets closed mixed.
- Due to surge in Corona virus, work from home companies are doing better.
- That is why Nasdaq was higher while Dow was down for 3 straight days.
- Even now, US futures are lower.
- Clearly weakness persists in US markets and that is likely to continue until election.
- Asian markets are also mixed.
- SGX Nifty is down, but we have hugely out performed yesterday.
- October series is nearing its end.
- In first 9 trading sessions, Nifty shot up 1150 points.
- After that, for the last three weeks, it is just consolidation.
- But that consolidation happened with huge volatility.
- I thought this week, markets will breakout.
- But that has not happened, so we can expect big move only after US elections.
- DrReddy, Hero Moto, Axis Bank, L&T, Titan are set to declare results.
- Yesterday Harley Davidson was up by more than 25% in US due to its tie up with Hero Moto.
- Bharti Airtel, Tata Motors came with good results.
- So far, corporate results have been very good.
- Microsoft came with good results after markets closed in US and that is also good.
- But they have given cautious guidance.
- So far, weakness is limited to Europe and US.
- Asian markets are more or less resilient.
- FIIs have bought for Rs 3500 crores yesterday.
- With this FIIs have pumped in Rs 17000 crores in October alone.
- However DIIs have sold for equivalent amount in October.
- Reliance saw some short covering but even that was sold into.
- Kotak bank shot up 12% due MSCI rebalancing.
- Now a sector which could rise in the generic medicine sector.
- All the Companies who do Testing , provide energy drinks etc might be the next theme to catch.
- Pharma ,IT have already performed well and chasing these stocks wouldn't lead to anything great.
- One has to identify new themes to make big money.
- That helped Bank Nifty to hugely out perform.
- Markets have been volatile and that volatility is likely to continue.
- Usually Wednesday trades are highly volatile.
- Nifty future trading at 15 points discount.
- Nifty future may trade between 11780 and 11920.
- Next 2 days will be crutial for the Markets.
- Markets could be highly Volatile in next 2 days.
- India VIX continues to rise.
- Nifty might Trade between 11780-12000.
- Results on October 28:
L&T, Axis Bank, Hero MotoCorp, Dr Reddy's Laboratories, Titan Company, APL Apollo Tubes, Aptech, AU Small Finance Bank, Balaji Amines, Blue Star, Can Fin Homes, Carborundum Universal, CG Power and Industrial Solutions, Cummins India, Firstsource Solutions, GSK Pharma, Heritage Foods, HSIL, IIFL Wealth Management, ICICI Securities, Marico, Max India, MCX, MOIL, Navin Fluorine International, Piramal Enterprises, PI Industries, PNB Housing Finance, Radico Khaitan, RBL Bank, Route Mobile, Schaeffler India, Tata Coffee, Texmo Pipes & Products, Thyrocare Technologies, UTI Asset Management Company and V-Guard Industries are among 69 companies to announce quarterly earnings on October 28.
The Wheel of Success in Trading There are three spokes that make up, what I call the Wheel of Success as it relates to trading. The first spoke is content Content consists of all the external and internal market information that traders utilize to make their trading decisions. All traders must purchase value-added content that provides utility in making their trading decisions. The most important content being internal market information , which is simply time and price information as disseminated by the exchanges. As we are making our trading decisions in present time based on time and price, In order to "scalp" the markets effectively, we must have the most live up-to-date information . The second spoke is mechanics Mechanics is how you access the markets and the methodology that you employ to enter/exit your trades. You must master mechanics before you can enjoy any success as a trader. A simple keystroke error can result in a loss of thousands . A trader can ruin his e
Comments
Post a Comment