Sponsored by
Time: 1 pm
Mid Market Report:
- Markets broke the lower end of the range we specified in the morning.
- As in the last week, Nifty opened higher, intraday sell off came, if there is buying towards the end of the day and if Nifty closes positive, then we may conclude that bull run is intact.
- On the other hand if Nifty future closes below 6700, then correction is possible.
- At 12.30, Europe opened negative, but our markets have recovered a bit after that.
- This shows that buyers are timing the market and buying on dips.
- Ranbaxy did fell contrary to our expectation.
- VIX has shot up by more than 10%.
- Today all cement shares are going up.
- This kind of sectoral rotation happens only in bull market.
- Tomorrow is a holiday, so there may be some short covering towards the end.
Comments
Though VIX has shot up more than 10% there is the decrease of around 20 points in the put and call pair of 6700 April
ReplyDeleteI'm not positive about the deal btwn Ranbaxy and Sunph, some insider trading has already happened few days back and positives are already factored in the stock price, negatives have not yet discounted.
ReplyDeleteRanbaxy has huge debt of around 4700 Cr and their market cap is roughly about 19,000 cr ... Sunph has acquired closed to 23,000 Cr and has to deal with the debt and the company were not making profits for the past 2 yrs.
This comment has been removed by the author.
ReplyDeletePost a Comment