Daily Report · July 5, 2021

Morning Pulse 05/07/21

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  • S&P closed at its highest last friday. Markets are at a place where taking new positions seems unreasonable but deep down we get a feel that it willl move more higher. Well only thing we can do is react on the price action.
  • One thing is sure, more and more budding researchers, technical experts are popping out on twitter and youtube. Everybody seems to be very good at researching fundamental stuff. I see this as a caution.
  • FIIs seems to be bearish a lot from last two weeks, while DIIs are contantly buying in equal numbers.
  • Well despite markets at high &vix low- a shot vol env, Dxy keeps on creeping on its upward trajectory. INR also weakening quite a bit.
  • Inflation concers along with new delta variant could stop the rally but there are slim chances.
  • Nifty still hovering in the range of 15450-15900, Banknifty between 34000-35700. These levels if break can result in trend rally.
  • Till then buy on dips and sell on rise.