First of all Please let me clear one thing, I just share my views only. I don’t recommend any share to buy or sell. I am just a learner in this verse market. Also, I don’t have any HOLY-GRILL formula to make money easily. I am in this market from last six years and I understand it a little bit.
BRIEFS: NIFTY previous day close was around 18418. Today NIFTY opened at 18440. It was a little gap-up opening, but was unable to hold that position. Made a day high of 18458 and a day low of 18209, then closed at 18266.
Also BANK NIFTY previous day close was around 39540. Today NIFTY opened at 39545. It was almost a flat opening. Made a day high of 39744 and a day low of 39292, then closed at 39518.
According to Volatility Index INDIA VIX reading was 18.31 (Closing basis) which was 5.35% up than yesterday. By factorizing all these parameters, it looks that volatility is continuing in the market and so the correction is. Along with these NIFTY AUTO, NIFTY FMCG, NIFTY ENERGY etc all leading indices have shown weakness. NIFTY MIDCAP, NIFTY SMALLCAP were down by more than 2%.
HOT TALKS: FMCG Giant Hindustan Unilever or HUL declared dividend of Rs. 15 per shares as stand alone net profit rose to 8.8% YoY. Two hot shares of recent time IRCTC & IEX both were corrected today by 18.7% & 6.6% respectively. Vodafone Idea and AIRTEL were among of the few gainers and HINDALCO and TITAN were among of the bunch of losers for today.
PERSONAL VIEWS: It looks like the market is correcting a little bit. I am holding my Investments strong without any change in long-term portfolio. For short term swing trading I am keeping an eye on SNOWMAN and PARAS DEFENCE. Also as of now I recommend Newbies to think twice before investing in any stock for the long term. Let the market get little stable.
Thank You. If you have any query please comment down below. I shall try to answer it with my little knowledge.
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