Daily Report · September 6, 2021

Morning Pulse 06/09/21

  • US Markets kept on the tight ranges this past week despite NFP miss. Nifty however scaled higher as Reliance tries to break out of year long consolidation.
  • Nifty likely to go higher as heavy weights start to rise.
  • But there is a likely contagion building up in China real estate market. Evergrande the Chinese biggest developer is on the verge of a default. Everyone’s backing that govt may take over and backstop the turmoil. Not just evergrande other real estate companies also facing the heat right now.
Evergrande
  • Right now i am betting on 36000-37500 range. Will sell more if the price stays in the range.