FIIs turn villains again, Nifty back to where it ended last week.

Good Evening Everyone, As discussed in the pre market report, I had told that today will be a crucial day for deciding how the week will go forward. As the market opened with a gap up, everything looked fine as we could see a steady side ways movement in the Nifty till exactly 1pm.


As the clock struck 1, we could see a huge sell-off in the market which led to almost a 100 point fall in about 10 minutes. This is exactly where the intraday traders would have run for cover as, even keep a stop loss would not have helped them as the market fell so rapidly that even computers could not execute a stop loss trade.


There was no negative news, nothing that new, which probably helps us confirm that the FIIs were in action booking their profits. I got it confirmed after the market hours, and here is the data.


FIIs were net sellers for the day to the tune of Rs. 745.97 crores which actually led to this fall in the afternoon. But of course, the respite that leaves me still bullish is that the DII's still bought for a net of Rs. 447.42 crores.

Of course, though not a DII, I am sure most of our members must have executed some good buying opportunities in the market which can give us good returns in the coming days as discussed in our last weekend meeting.


On the Daily candle, we can see a higher high and a higher low that shows that the bulls are still there trying to recover from the bears, but then we will have to see if the market can actually open with a gap up and move higher tomorrow.


Infosys will declare its quarterly results on Wednesday evening after market hours, effects of which can be seen on Thursday, and then we have HDFC bank results that will be announced on Saturday and we can see that also affecting the market on next Monday.

Sector Watch:


The realty sector was on a bull run today, and we could see our pick DLF zooming today, and I am sure many of us made good profits today. IT was still in negative and I am still waiting with high hopes on IT sector for a big boom.



Top Gainers:


Though not as a sector, we could see some good buying in Ultra Cement, Grasim & Sree cem through the day.



Top Losers:


Adani Ports again went into profit booking today and well by 1.45% to lead the bears at the market. Tata steel also consolidated after the bull run for few days. I hope many of you would have booked some profit at 1250 in Tata steel when I announced in our Discord channel.



That's is for now. Let us catch up tomorrow morning for the pre-market report.


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