Daily Report · July 12, 2021

Morning Pulse 12/07/21

  • No surprises happened in weekend.
  • Argentina won the Copa America and Italy won the Euro upsetting favorites England.
  • US markets after falling on Thursday bounced back to close at all time highs.
  • The meltdown in yields has stopped and slowly recovering.
  • US oil is hovering at the long time resistance mark of $77. Hopefully it stays below otherwise it won’t be pretty for Indian market.
  • RBI has permitted small finance banks to apply for reverse merger. RBI has allowed amalgamation of Ujjivan small finance banks with the holding company.
  • We are still bouncing between the range of 15450- 15900, nothing seems to break the consolidation range.
  • Result season is here, let’s see what it brings in store for us. Delta Corp published weak results with rev down 62% QOQ. Dmart also stated not so good results missed PAT and Margin targets.
  • I am doing strangles in Bank nifty 34000-36000 range. it this breaks I’ll readjust.