Today
The date today is 24th November the last day of the month for trading ie your F&O positions are carried over to the next month or trading SESSION. The premium given to Nifty Futures show that Bulls are incharge.
The markets were down today the BSE sensex down by 191.64 points at 25860.17 and the Nifty down by 67.80 points at 7965.50 but on the whole 1350 shares advanced against 1205 declines.Due to the demonetisation effect lot of money is leaving emerging markets like India,Financials, technology, Consumer discretionary and to an extent Industrial sector are doing well. Continued disruption in Rajya Sabha also is causing downfall of markets.
The demonetisation has caused a ripple in the market thereby, decreasing sales of goods in the market resulting in less profitability in companies. There is an opinion that Indian Markets are in a Bear phase and economy is likely to contract for the next few quarters. The postponement of GST council meeting has also hit markets.Better to slowdown buying book profits periodically that is the best way to keep afloat. HAPPY TRADING AND INVESTING.
Today
Markets were up by 265 points the sensex risimg to 27517 and the Nifty u by 94 points rising to 8525. Lot of short covering took place, with a lot of shares rising. Euopean shares also rose to certain extent. Trumps victory was an unexpected event for the market and the bold move of demonetising the currency was a shocker on the first day. Markets have recovered from both shocks and Investors have taken both events in their stride. The demonetising of currency has led to hopes of a better economy and eradication of black money which was a retardation for development. The GDP is expected to improve with the bold step and inflation will be under control. There might be a temporary setback for sometime, but economy will be better after this problem. Overall Trump seems to have found favour with India. Happy Investing And Trading.