Hello reader, hope you’re doing well. Benchmark indices may log gains in early trades after US inflation fell to 4.9 percent in April, the lowest since April 2021, which could lift the sentiment and raise expectations of a dovish stance by the Fed in its next meeting. While global mood would dictate trend, Indian markets have been resilient so far on the back of persisting FII buying and strong macroeconomic fundamentals. Technically, caution for Nifty bulls only below the 18181 mark.
Important points to note:
- The 18200-250 mark has again proven to be a key support point, with many buyers coming in at those levels yesterday and pushing up Nifty.
- Today’s dip on Nifty is a result of the impact by DrReddys and L&T, both down by about 6.4% and 5% respectively, post results.
- For today’s expiry, highest OI concentration has moved upwards from 18300 CE yesterday, to 18350 and 18400 CE strikes with the latter having more than 2cr OI currently.
- Similarly, we’ve seen a huge addition in 18300 PE levels with 1.7cr OI and this can be a key support point for intraday levels.
Making money in stock market is a function of 3 things: Time, Interest and Acumen. As people go back to offices the time spent trading/studying stocks has gone down. After a pretty brutal correction in last 18 months people have lost interest & also, they have come to realize making money is not as easy as it seemed in 2020/21. Mutual funds offer best return on effort for most investors.
As always, risk management is key, and a proper system in place prevents one from losing out too much, in case of outlier events. Have a good trading day, and may the force be with you!
Disclaimer: this post is for educational purposes only, we are not SEBI registered analysts. Trades mentioned here are not trade recommendations. Equity Investments are subject to 100% market risk, please consult your financial advisor before investing.