Good morning!
Yesterday we had a great run in Reliance and this was accompanied by a surge in volumes. However, there are news pending on this counter as there is a litigation in the SC now as regards the Reliance - Future group merger. The outcome can impact the move going ahead. Having said that, it is looking poised to continue the rally. Lets see how it pans out!
HDFC and HDFC bank were not moving as per expectations and we need to keep these 2 counters on watch as I believe any further up move in the indices need participation from these heavy weights.
Keeping these same counters on watch today as well, namely: Reliance, HDFC, HDFC Bank.
Another counter to watch out for is HUL as and when it breaks 2290/2300 levels.
Happy trading.
Note: A lot any queries to me via DMs that why I dont hold on to the winners and why do I book out so fast.(special mention Reliance yesterday where it rallied 40 points more from where I exited). The simple and honest answer is that there is no way of knowing that how long the rally will last. I do day trading full time and as a full time profession. It is important for me to make money and I will take what ever is there on the table. There have been many instances where I have trailed and the price does a U turn and stops me out. The entire day after that is wasted away thinking I could have taken that money and not be subjected to greed. On the other hand if the price rallies, there is always a feeling of being left out when you take profits very fast....but its better to have a feeling regret with money in the pocket rather than living with the feeling of regret without taking the money that was on the table!
Cheers!