Skip to main content

Trading and Investment Setup 05-October

Overall Market Sentiment

This is very confused today. The OPEC meeting did not turn out to be great. They are NOT going to increase the oil production, so the prices are going to remain high. That means BANKNIFTY will most likely not do great.

There was another major problem that came up. Facebook plunged in the US since they had a downtime of more than 6 hours. This led to NASDAQ falling by close to 2% in a day! This did not sustain and we can see a recovery.

However, there is a China Taiwan crisis looming on the horizon. So International Markets and especially the Asian markets are going to remain choppy for some time to come.

India is in a sweet spot. FIIs and DIIs were both buyers yesterday and this trend is likely to continue today offsetting some negativity. 

NIFTY AND BANKNIFTY

Nifty has opened relatively flat and I think it will remain rangebound, between 17500 and 17750 for the week. Then we have results coming out, starting with TCS on October 8. So if you want to buy these, this is probably your chance. I have.

BANKNIFTY is going to stay neutral and slightly depressed till the quarter results come out. The RBI monetary policy is anyway unlikely to change in the short term, so we are good.

I don't intend to take any positions today. I have a carry over long position from last week. I am good with that.

Comments

Popular posts from this blog

Operational Situational Summary - Ukraine 2 March

From a glance at the map and the news reports, it appears that the Russian advance has been very slow or even checked. However, a deeper look shows the situation has worsened significantly for Ukraine. That this happened as per my expectation in the past few posts makes me feel worse. In the North, the Russian forces have already encircled Chernihiv in the past couple of days. This is not yet fully updated on this map. The two strong armored spearheads from Konotop (which had also fallen) are currently holding in Pryluky and Nizhyn. The Chernihiv garrison probably has a day or two before the Russians reach Kozelets. Then any breakout attempt to Kyiv will become extremely difficult and will likely result in very heavy losses. It is to be expected that this city too, will fall soon without affecting the battle of Kyiv. This is bad for Ukraine. Now that the International Community has rallied for Ukraine, the previous fears of Russia dealing with breakaway republics in the East should be ...

Saraswati Puja and Valentine's Day Coincide

I used to hear this a lot - for Bengalis (Bengali Hindus), Saraswati Pujo is equivalent to the Valentine's Day . Girls would wear yellow sarees and braid their hair, while guys will be wearing yellow punjabees and white dhoti or pajama.  This time on Feb 14, 2024, they fell on the same day. Woke up pretty early in the morning, showered, wore the dhuti and uttiyo and did Saraswati Puja. Most of the mantras I have got by heart now. After the pushpanjali , I was done and we (my mother and I) could then break our fast with the Mahaprasad . Took a day off for the day, but still joined for a quick catchup call.  This is how she looks like. There is a bit of a history here. Usually, Hindus get the vigraha from the shop every year, worship and then do visarjan (immersion) in a river or pond. However, she is with us since I was in class IX. When I was in Standard X, my grandmother had died. As part of the souch (relatively inauspicious greiving period), we could not get a new vigra...

Affinity towards attachment

Of late I realize how attached I get to people, places and even things.  This is not just limited to stuff that I care about, but also mundane things that I don’t really generally much about either.  On most days, I am not even conscious about it. But when I am, I find it increasingly weird.  This hits different than hoarding though. Garbage is something I can easily get rid off. It is just that the definition of what I consider garbage is limited. More worryingly, I find accepting stuff (or God forbid, people) that I considered a treasure can now safely be put in the bin extremely difficult. This was always the case to an extent, it is not new. Just that at my age I just have come to this self realization on my own.  What do I need to do about it? I am not sure to be honest. On one hand, I agree, obsessively being attached to anything or anyone is not healthy. But, at the same time, Life still works, relatively okay. Of course, inanimate objects are better in this r...