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If the rally of Friday was most irritating because of my short positions, I was surprisingly calm yesterday despite the rally in the Nifty. It was the calm of a person resigned to his fate. I was certain that my BUY stops at 5943 will get triggered.
That was, however, not to be. The Nifty closed just below those levels. That poses a problem for today. I will cut my short positions and go long if the Nifty either crosses 5943 or the first hours high, whichever is LATER. No the capitals is not a mistake. That was just for emphasis.
Looking at world markets, I find that HSI is a BUY already. HSCEI becomes a BUY if it crosses 12865 today. It is just short of those levels. KM1 (Kospi futures)is doing extremely well. India might just follow suit today. The Euro is trading just below the 1.3440 levels which is when it turns from a SELL to a BUY in my way of looking at things. If that happens today then we could see the rally picking up steam in all equity markets.
The US govt bond yields continue to worry me but then stranger things have happened in the US. An industry that can do NINJA loans and call it good business can do anything! I had a few stock calls yesterday. BOI got bought at 446, CBK at 678 and BHARTI got sold at 325. The lows of yesterday is the stop for the BUYs and high of yesterday is the stop for BHARTI.
A BUY call. BUY RBXY above 573-if it gets triggered that is. No intraday calls on the Nifty. That is it from me. Markets have started. Let me see what today has in store for me.
That was, however, not to be. The Nifty closed just below those levels. That poses a problem for today. I will cut my short positions and go long if the Nifty either crosses 5943 or the first hours high, whichever is LATER. No the capitals is not a mistake. That was just for emphasis.
Looking at world markets, I find that HSI is a BUY already. HSCEI becomes a BUY if it crosses 12865 today. It is just short of those levels. KM1 (Kospi futures)is doing extremely well. India might just follow suit today. The Euro is trading just below the 1.3440 levels which is when it turns from a SELL to a BUY in my way of looking at things. If that happens today then we could see the rally picking up steam in all equity markets.
The US govt bond yields continue to worry me but then stranger things have happened in the US. An industry that can do NINJA loans and call it good business can do anything! I had a few stock calls yesterday. BOI got bought at 446, CBK at 678 and BHARTI got sold at 325. The lows of yesterday is the stop for the BUYs and high of yesterday is the stop for BHARTI.
A BUY call. BUY RBXY above 573-if it gets triggered that is. No intraday calls on the Nifty. That is it from me. Markets have started. Let me see what today has in store for me.
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