Skip to main content

Trade and Investment Setup 4 October

By
The global cues are still weak.

But we are seeing some signs of improvement.

Bad news first - Evergrande trading has been suspended in the Hang Sei market (Hong Kong) stock market for the next few days. Their index fell more than 2 %. That is huge. In general the Asian markets were under selling pressure.

For NIFTY, a gap up opening was assumed looking at SGX NIFTY. It is hovering around 17650 as of publishing this post. I will not enter into a trade until it crosses 17700 and stays there for at least half an hour. There is a lot of anxiety and this may result in some profit booking.

BANKNIFTY is up by close to 1% by now and we can expect some profit booking right now. I will just wait and watch. There is not much for me to trade with.

I have signed up with Zerodha over the weekend and will buy a few bonds or gilt funds this week. I intend to use this as a pledge for getting my collateral margins in place.

As for India, the signs are positive, and the results are coming out from the next end of week.

For today, though, I will wait and watch.

Verdict

Today was great. Even though the global cues were not very good, our market rallied and both NIFTY and BANKNIFTY closed with about 1% upside. I have a long position for October, so this is good for me.

Not much to write home beyond this.

I did buy some SBI Magnum Gilt Fund to use as collateral in the future. Plus, it is a gilt fund obviously, so the capital is protected as well.
Labels:

Comments

Post a Comment

No spam please :)

Popular posts from this blog

Stalingrad 2013 Movie Review

By
I saw the trailer of this movie once and really really liked it. What was really interesting was the Thomas Kretschmann acted in a movie with the same name exactly 20 years back. Stalingrad was released in 1993 and the young Kretschmann played the role of a dutiful but conscientious German leutnant of the ill fated 6th Armee. Here also he comes back, slightly older and rugged. The spectacular visuals, the background sound and the lack of background music makes it a realistic watch. That is all positive that I have to say about this trash. Yes, that's what I will this. Naturally, while watching this I brought in similar scenes of Stalingrad (1993) among other war movies. And in comparison this movies cuts so sorry a figure that I dared not watch the entire movie even! The story starts of slow enough and just completely refused to pick up pace. The entire movie seemed to be directed by an amateur school student, bolstered by some insanely talented special effects team. This made t...
Post a Comment
Read more

Bangalore - Where I now live!

By
Life in Bangalore Bangalore or Bengaluru is one of the strangest places I have ever been. First, I'll call it Bangalore. In any case I am not really fond of this place, and the official name just makes me go nuts. Literally! Bangalore techie in action! Lets start with the good things in Bangalore. The advantage is that for me there ain't much good here so this paragraph is going to be short! Bangalore has excellent weather, inspite of not being the hills. Weather in Bangalore is always temperate, with the mercury hovering from 68 and 78 Fahrenheit. So yeah, unlike in other Indian metro cities, here we don't have to sweat. Electricity costs are also cut down because we don't need air conditioners or even fans. The other good thing about Bangalore is its vicinity to various tourist spots in South India. Be it the Nilgiris or the Malabar, Konkan or Goa, all are within reach and easily. Seriously??? Now lets begin the negative aspects of the city. I will ment...
4 comments
Read more

Getting back to making stuff

By
I was off for a while. I mean, I was not. I painted an old shoecase that now looks a gorgeous white cupboard. I fixed my bicycle.  But beyond this, I did not do much beyond what my work paid me to do. So here I am, about to touch a new year of my life - and I am itching to get back into the habit of writing again.  Not just writing stuff here, but also making applications or music.  In fact, after a very long time I feel like sketching again. I think I am going to sketch my wife. Or may be finish my ex wife's sketch. I dunno. But I am gonna get started with a pencil tomorrow. Thanks to chatgpt, I have restarted my application brainstorming and dusted my old Github repos.  I think this is going to be a good run this time.
Post a Comment
Read more