Daily Report · August 31, 2021

Morning Pulse 31/08/21

  • I have been traveling a past few days. Celebrated Janamashtmi with family.
  • Jerome Powell in Jackson Hole symposium told that It would be dangerous to pull out the QE as well a stimulus measures too early, so markets rejoiced and made another all time highs.
  • Nifty is now close to 17k and Banknifty also broke out of the consolidation range of 36000.
  • I have sold puts and i think, the range breakout may take banknifty to 38k in no time as short covering foo buying may kick in now.
  • FII turned net buyers after a long time of selling.
  • Almost all sector indices are looking very bullish, which could mean that the pace of bullishness may pick up now.
  • Looking to sell puts now from the breakout point.
BankNifty