Markets went down today too but we are happy as our last week's stock pic BEL gave an excellent breakout and gave us great profits on a day like this. That is the power of investing in our strategy. We should dare to live in falling markets. If you have not read the pre-market report, you can read it by clicking here.
As I always say, control your greed and emotion, and we will win in the stock market.
Today Nifty again opened with a gap up at 15862 and fell continuously till day end and finally closed at 15686.
on a daily chart, the candle shows a strong downshift but then this could also be due to the weekly and monthly derivatives expiry tomorrow.
As discussed in our earlier pre-market reports, the Auto sector was the only sector to close positively today. IT & Metals were the top losing sector.
As the biggest car manufacturer in India, Maruti closed the day up by 2.29% followed by Mahindra & Hero as discussed in the premarket report.
Adani ports again came under selling pressure and lost 3.28% today along with IT biggies like Wipro & TCS can be seen in the top losers list today.
We can now decide the trend of the index only after we see tomorrow's market performance. However, it is now clear that 16000 targets still will wait for some more time.
That's it, for now, team, let us catch up tomorrow morning on the Premarket report to get going with full josh.
- Srikant Rajna