Anuj Singhal, Managing Editor of CNBC-Awaaz It is said that there may be some accidents in the market again today. IndiaMart, India Cements, Dalmia Bharat Accidents can happen. There is absolutely no room for disappointment in the market at this time. The market is finding shortcomings even in good results. Yesterday Indian Hotels, Oberoi were also badly beaten. What not to buy, what to sell is now the theme of this market. Heavy selling by FIIs is still going on.
Now people will stop making fun of shorts of FIIs. FIIs’ shorts have made 3 years’ worth of money in 3 months. Retail has lost as much money as 3 years in 3 months. This is a bad phase in the market. Whoever comes out of this round unscathed will make big money in the next round. The market may remain oversold for a long time. At this time your focus should be on saving, not on creating.
If you save now, you will earn money in the next bull phase. Don’t forget the formula of DIP and SIP, but be careful in trading.
Big results will be in focus today
Today the market will keep an eye on the results of HDFC Bank, HUL, BPCL, Coforge, HUDCO, Persistent Systems, Pidilite, Polycab, Tata Communications.
Results of HDFC Bank and HUL, i.e. the largest private bank and the largest FMCG company.
Coforge, Persistent Systems: 2 largest midcap IT stocks.
Pidilite, Polycab: Non index consumption has large shares.
HDFC Bank has already said not to expect anything from me. But if there is something positive in the commentary then the matter can be resolved. HUL results and commentary will be very important.
Nifty: How far can it fall?
Let us take the starting point of the rally, the closing level of June 4 is at 21,884. From there there was a rally of 4,332 points which will go up to 26,216. The closing level on 26 Sep was 26,216 i.e. there was a rally of 4,332 points in 3.5 months. From there we have now fallen 3,192 points. That means we have now retraced 74% of the entire rally.
In such a situation, now the path to 22,000 is also open for Nifty. The problem is that retail is not able to earn even by shorting. Short covering in between is also strong but a big bear will not be scared by short thick covering.
Retail: Poor guy is stuck isn’t he?
Shares slipped from the peak
Voda Idea 51%
Retail: What to do now?
Don’t think of making money where there is loss. Revenge trading will not work in this market. Exit stuck positions in every rally. Like the day before yesterday there was an opportunity to exit from Voda Idea. Focus on relative strength. You can also invest some money in ETFs of Nifty and Nifty Junior.
strategy on nifty
Now the level in Nifty has no meaning. All levels are now imaginary
Now this market is about sentiment, not level. Unless the shorts are scared, the market will not move. Every small or big rally will fail like this. Sell where rally fails, put SL of 100 points. There is a small support at 22,800-22,900 but it is difficult to hold. There will be no one-sided selling, there will be covering in between. Yesterday also Nifty had recovered 250 points for once.
strategy on nifty bank
Keep an eye on HDFC Bank results and commentary. Bank Nifty is throwing one googly after another. It is impossible to trade Bank Nifty for retail.
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