Domestic Market View
Yesterday RBI cut rates by .25 BPS, a very good move by RBI, but surprisingly RBI forgot or tried to avoid commenting about NBFC mess. That’s why Market sold off Heavily. Market always need a clear picture of Mess which is there in the Economy, but Governor forgot to specifically talk about liquidity measures. First IL&FS default and now DHFL is near Do or die situation. This is a clear indication a slow down for next 2 quarter minimum. More sell off in market likely if there is no comment from RBI side about NBFC liquidity.
Yesterday Both FII and DII sold shares.
Nifty : Support 11800-760 Resistance 11880-920.
Bank Nifty : Support 31800-31650, Resistance 31000-31070
Global Market View
US index up by .50-.75%, news about mexico tariff to cool down, Brent oil is near $62 up by $2.
Stocks in News
- Indiabulls Real : Embassy group may buy Indiabulls Real Estate assets.
- PSU Bank : High Sell off expectation as per exposure to DHFL.
- Wiro : Azim premji to step down from Wipro Board.
Stocks For Buying
Today no new Buying, One Can track our Short/Medium Term shares, all details is there in the attached Excel sheet. Google Drive Tracking sheet.
Stocks Near Breakout
Due to heavy sell off in market, no stocks are near Breakout.
8:00 AM. SGX 25 points down, US index flat. Monsoon delayed by 3 days.
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