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The Nifty rallied strongly yesterday. In fact it gapped up above my buying trigger of 4515 and after a lot of soul searching I bought when the 5 min high was taken out at 4550. So I am now long the Nifty. The problem as everybody knows is that there is a strong resistance of 4700 lurking close by. But every trader is faced with this choice once in a while. What should one do? Buy in the belief that the resistance will be taken out or wait for a break out of the resistance to buy. While there is no definitive answer, I prefer to take the first option. And I have my stoploss at 4475 to protect me in case I go wrong.
International markets continue their rally. The S&P closed with gains but more importantly for us, most of the gains came in the last 2 hrs of trading and the S&P has closed at its high. The trends in equities remain up. Commodities too had a big day yesterday with almost all base metals, precious metals and oil rallying.
There are times when I feel that the trend has been going on for some time and therefore the best way to play the market from now on would be to take some delta neutral bets on markets. Two plays that I suggest are
1] Sell HangSeng and Buy Nifty and 2] Buy HangSeng and Sell Kospi.
Today I am in a good mood. So I will give you one more tip. If the Rupee falls below yesterdays low of 48.06 then I see it going all the way down to 47.0
And more to follow from next week. A few stock tips based on my incredible analysis of the market!!!. I know you are waiting with bated breath and want me to start today, but you will just have to be patient!!!.
After writing all this I completely fail to understand one thing. Any fund manager should have empanelled me just to be able to read this note. I mean seriously, who would not want to read this?
Talking about empanelments, I have this question to ask you which is in the form of a story. Please read the next para for your daily dose of entertainment. The story starts with our hero joining a startup broking company....
Our hero, let us say the Head of Equities, soon realises that the key to success is to get one large fund manager to empanel his company. Essentially he needs an anchor client and then the others he knows will soon follow suit. So he targets a very big fund manager who is also reputed to be a maverick. This fund manager could make or break the company our hero works in. As hard as he tries the hero does not get an appointment. Finally using all his contacts the hero manages to get 5 minutes of the fund managers time at 8.30 in the evening at the fund managers house. The fund manager greets him at the appointed time and tells him that he is intelligent enough to realise that our hero wants an empanelment and also realises that our hero is persistent. He justs wants to check our heros intelligence. If the hero can answer one simple question then the empanelment is his. The fund managers says that 1] he has 3 daughters 2] that the product of their ages is 36 3] that the sum of their ages is equal to the number on the door of his apartment 4] that the color of the eyes of his youngest daughter is blue. If our hero is able to determine the ages of his 3 daughters based on these clues then the empanelment is his for the taking. But he has only 5 minutes to answer. If he cannot get the answer the hero has to promise never to pursue the fund manager.
Well what does the hero do? For a moment he is tempted to believe that the fund manager is just fooling and that this is his way of throwing him out. But he remembers that the fund manager has a reputation of being a maverick but is essentially a brilliant person. So he puts his mind to it. He races against time, solves the question within the alloted time and returns with the coveted empanelment.
Question for all of you people out there. Can you put your mind to it and give me the ages of the fund manager's daughters.
International markets continue their rally. The S&P closed with gains but more importantly for us, most of the gains came in the last 2 hrs of trading and the S&P has closed at its high. The trends in equities remain up. Commodities too had a big day yesterday with almost all base metals, precious metals and oil rallying.
There are times when I feel that the trend has been going on for some time and therefore the best way to play the market from now on would be to take some delta neutral bets on markets. Two plays that I suggest are
1] Sell HangSeng and Buy Nifty and 2] Buy HangSeng and Sell Kospi.
Today I am in a good mood. So I will give you one more tip. If the Rupee falls below yesterdays low of 48.06 then I see it going all the way down to 47.0
And more to follow from next week. A few stock tips based on my incredible analysis of the market!!!. I know you are waiting with bated breath and want me to start today, but you will just have to be patient!!!.
After writing all this I completely fail to understand one thing. Any fund manager should have empanelled me just to be able to read this note. I mean seriously, who would not want to read this?
Talking about empanelments, I have this question to ask you which is in the form of a story. Please read the next para for your daily dose of entertainment. The story starts with our hero joining a startup broking company....
Our hero, let us say the Head of Equities, soon realises that the key to success is to get one large fund manager to empanel his company. Essentially he needs an anchor client and then the others he knows will soon follow suit. So he targets a very big fund manager who is also reputed to be a maverick. This fund manager could make or break the company our hero works in. As hard as he tries the hero does not get an appointment. Finally using all his contacts the hero manages to get 5 minutes of the fund managers time at 8.30 in the evening at the fund managers house. The fund manager greets him at the appointed time and tells him that he is intelligent enough to realise that our hero wants an empanelment and also realises that our hero is persistent. He justs wants to check our heros intelligence. If the hero can answer one simple question then the empanelment is his. The fund managers says that 1] he has 3 daughters 2] that the product of their ages is 36 3] that the sum of their ages is equal to the number on the door of his apartment 4] that the color of the eyes of his youngest daughter is blue. If our hero is able to determine the ages of his 3 daughters based on these clues then the empanelment is his for the taking. But he has only 5 minutes to answer. If he cannot get the answer the hero has to promise never to pursue the fund manager.
Well what does the hero do? For a moment he is tempted to believe that the fund manager is just fooling and that this is his way of throwing him out. But he remembers that the fund manager has a reputation of being a maverick but is essentially a brilliant person. So he puts his mind to it. He races against time, solves the question within the alloted time and returns with the coveted empanelment.
Question for all of you people out there. Can you put your mind to it and give me the ages of the fund manager's daughters.
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