20/09/2024 - Market Mood for the day
All of the expectations for the FED rate cuts were factored in the market last week.
Yesterday, heavy profit booking was seen in the markets overall, and hence, the index lost around 130 points intraday to settle at around 35 points positive.
Usually, whenever there is a resistance zone, if the market crosses it and comes back to the same zone, it will act as a support zone, and that's the time and place to initiate a buy transaction.
All Asian markets are positive and GIFT Nifty closed 203 points up as of 0230 IST. This indicates that the market will open positively today and stay the same.
Since the FED has cut the rates, the US bond markets have become less profitable. I am expecting the money to flow from the US bond markets to Indian markets sooner than expected.
BTW, Bajaj Housing Finance has been beaten down to less than its listing price and it's a good time to buy and hold the same.
Happy Friday.
Yesterday, heavy profit booking was seen in the markets overall, and hence, the index lost around 130 points intraday to settle at around 35 points positive.
Usually, whenever there is a resistance zone, if the market crosses it and comes back to the same zone, it will act as a support zone, and that's the time and place to initiate a buy transaction.
All Asian markets are positive and GIFT Nifty closed 203 points up as of 0230 IST. This indicates that the market will open positively today and stay the same.
Since the FED has cut the rates, the US bond markets have become less profitable. I am expecting the money to flow from the US bond markets to Indian markets sooner than expected.
BTW, Bajaj Housing Finance has been beaten down to less than its listing price and it's a good time to buy and hold the same.
Happy Friday.
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