How strong is Nifty Today?

This is the excerpts from my morning market view that is posted early in the morning in my blog

Click HERE to view details. Be in touch on TWITTER for regular intraday updates

Positives:

  • US markets erased all 2020 losses. Nasdaq is hitting all-time highs

  • European markets consolidated after strong up move

  • Safe havens USD, JPY & Gold consolidated after recent losses.

  • Emerging market assets were positive

  • Asian markets are trading mostly in positive territory this morning

Negatives:

  • DIIs profit booking continues

  • FIIs purchases are moderating

Global Markets: -Going strong

US markets ended with gains yesterday. Nasdaq was hitting all-time highs while S&P 500 erased all its 2020 losses. European markets were flat after recent sharp up move. Emerging market ETFs/assets traded in US continued to trend up. All risk assets such as emerging market equities, high yield bonds, EM currencies were up. Crude oil was down because of Saudi Arabia limiting its production cuts to the agreed levels. This is unrelated to global risk on mood. Earlier Saudi Arabia was cutting oil production over and above the agreed levels. All-around risk on mood in the global markets is intact. Safe haven assets USD, JPY and Gold consolidating after recent losses.

ASIAN Markets this morning: - Positive

Asian markets are trading in positive territory this morning except for Nikkei which is flat. SGX Nifty is trading about 65 points above yesterday’s Nifty close.

Calendar events

There are no significant calendar events scheduled today. Import, Export and Trade balance numbers will be released tomorrow after market closes.,

India : How strong is Nifty?

Nifty opened strongly yesterday but it could not hold the gains and ended with comparatively smaller gain. FIIs purchases are moderating while DIIs’ profit booking is increasing. Advance decline ratio for broader market is still strong. Asset under management of Mutual funds increased by 2.6 % for the May’20 which shows retail investors are confident.

Where will Nifty go today? Click HERE to find out

Disclaimer: Author is not responsible or liable, directly or indirectly, for any form of damages whatsoever resulting from the use (or misuse) of information contained in or implied by this posting. This should not be relied on as a source of financial, investment or trading advice. What works for one individual may not work for anyone else. Always consult and check with your financial advisor. I am an active trader therefore I have conflict of interest with whatever I have mentioned here.

Mid-day update:
Nifty opened flat. Y/day’s low was not breached & higher levels at 10300 saw profit booking

Excerpts from my morning blog: :+1::heart_eyes:

….Therefore, I expect Nifty to open in positive territory and hold 10K levels today while higher levels at around 10350 could see profit booking.

The history of the prediction game is such that a monkey can also go equal with the so call smarts. This is a real wall street story, Google it.

There is nothing to be so over excited in predicting and some parts of it got covered. The weather forecast got correct certain times.

This is all a coin toss. I am writing for the people who got so carried away seeing predictions on twitter,telegram etc.

Well, prediction is something. Making money is one thing. And making money consistently is another thing. And making money to make a living from the market is another thing.

The harsh cold water splash for some people. But you can enjoy too as a gamble. Gonna hurt some manly egos.

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No need to be so angry… If u have so much experience in trading … u wouldn’t be so negative

You are welcome to read my blog and understand my methodology…

When u continue reading some day when I go wrong you will see I equally accept it without hessitation

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@Celina

I will save you some time… one instance where I was partially wrong and had no hesitation in accepting it

Because when u grow up and become a skilled trader you will realize that accepting mistake is no shame in trading… its the biggest asset.

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@TraderVenk hello stranger, this was not directed at your existence. You referred here was for the masses.

Seems someone got offended so much. I ld never question someone’s experience. But I admit if I be that successful, I ll be in the market wizards book or in a big prop firm.

I just threw away a reality proven opinion on prediction regarding markets. Anyway, I understand someone from twitter always has so much anger and an eagerness to show significance. Chow!

Good… u seems to be following my tweets closely… thats a good start

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The language shows what kind of person you are…

Thank you

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Cool down guys, you can get your point across without going overboard and passing judgements. Let’s keep it civil.

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