Daily Report · August 11, 2021

Morning Pulse 11/08/21

  • Banknifty and Nifty have started consolidating while other indices particularly small cap are falling apart. Probably because of bloated valuations in small cap and g=finally actuals result numbers are showing the reality.
  • Zomato also posted a huge loss number yesterday. There will be selling pressure in this.
  • Biden Administration passed $1trillion dollar infratstructure bill. Markets gave a meh! to it as it was already discounted weeks ago.
  • Now only job numbers and inflation data can bring any major action.
  • Metals showed weakness yesterday, so have to start considering portfolio rebalance if things go down more.
  • Banknifty meanwhile is again making a tight range, we don’t need it to stay here any more longer but let’s see what happens.
  • Have sold 35.5kpe and 36.5kce strangle.