Daily Report · August 23, 2021

Morning Pulse 23/08/21

  • US dollar index had taken a pause in its rally to move higher as all major currencies viz., EUR, AUD, CAD , GBP are mean reverting from supports.
  • Naturally US futures and others are back to their upward march. Nifty 50 may also open strong as SGX nifty futures are trading in the green.
  • Copper is also reverting from 200 DMA as well as Iron ore futures.
  • Seems like markets have digested the taper news quite well and started running again with the trend.
  • However Jackson Hole symposium is on weekend, so lets say what FED has to say then. Until then i shall pick up stocks which held their ground in this short pullback.
  • Selling pe’s if banknifty closes above 35500.