Daily Report · July 29, 2021

Morning Pulse 29/07/21

  • Hang Seng HSI , HSI tech , A50 and other chinese market indexes recovered today after regulatory crackdown on tech companies in china.
  • Our market was very volatile yesterday, alomost did a V shaped recovery intraday.
  • Nifty is still in the 2 month long range of 15450-15900. Nothing seems to break the range.
  • Rakesh Jhunjhunwala yesterday stated that bull run to continue for 10 long years before any meaningful correction.
  • Jerome Powell in yesterday’s FOMC meeting stated that ” they are in now way thinking about raising rates”. I think FED is becoming BOJ and will continue with subdued rates till everything is ok.
  • Result season is running very smoothly. FB, Google, Apple otheres all reported good quarterly numbers.
  • In my opinion, only talks of taper and interest rates rising can bring a correction, otherwise markets may continue to run on autopilot in the Up direction.
  • I am highly confused about Inflation-Deflation, whether ehich camp is right , we will see.
  • Till then Selling calls on resistance and puts on support.