Market on nov 6, 2024

Daily journal:

Exciting day today. Expecting results of US elections. Trump leading.

US markets had a strong session yesterday. All the 3 indices closed more than 1% in green. Futures are also trading strongly more than 1% in green. US 10Y Bond Yield rises to 4.4%. Brent Oil is at 75$. Dollar Index rises to 104. Asian markets are mostly positive. Consider global cues as positive for today.

Indian markets gave a good bounce yesterday. It bounced from the day’s low and closed at 24213. This is well above the 24000 zone. So, the markets are consolidating well in the range of 24000-24400 and building a base. This is healthy for the markets.

Our strategy was to deploy some more cash in this zone. If you have not deployed yet, you can do it. Keep a small amount idle for uncertainities. Be majorly, more than 90% invested. Stay calm and watch what happens. You will emerge as a winner in a few months from now. Don’t panic. Don’t sell any good stocks in your portfolio. Avoid the noise. Ignore what people tell negative on social media.

I will keep you updated about the elections result and its impact on the markets. Have a good day!

verdict seems to be clear now. Markets are discounting machines. They will discount the results faster than they actually come out.

Added

Nifty is attempting again to cross the 24400 zone. 😄

short covering begins above the support zone of 24400