- This weekend remained clouded with SEBI’s new rules regarding margin and pledging mechansm.
- We need to see how market will react to that.
- Friday our markets were under pressure but regained most of it before market close.
- ICICI bank declared results and results seem good. Market reaction will tell the story. I’m bullish on icici bank, I will buy if it crosses 395
- Today also kotak bank will declare results
- ITC also declared good results.
- US and asian marekts are trading higher
- DXY. dollar index tanking and showing weakness.
- Metals gold, silver are rallying up hard. gold crossed $1900 and silver $23
- FII’s buying slowing down, they bought for 400 cr on friday
- US govt to announce stimulus package today.
- It will be interesting to watch how markets react to this.
- ITC, ICICIbank, Kotakbank and ofcourse Reliance( which surprisingly didn’t sell any stake in the weekend) will be in focus today
- Nifty reistance at 11200-11300
- Bank Nifty may face reisatnce at 23000-23200
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