Sarthakreturns

  US stocks rose on Thursday shrugging off disappointing GDP and jobless claims data. Investors took comfort from Fed statement on continuation of accommodation till economy starts to recover. Dow and S&P traded at record levels gaining more than 0.40%, Nasdaq closed marginally above flat line. Russell 2000 once again outperformed with gains in excess of 0.65%.  US dollar index declined further to 91.86, 10 year moved higher near 1.26% on risk-on trade. Cboe Vix closed below 18.  The risk-on trade and weakness in dollar helped crude to move higher, WTI above 73, Brent nearing 76.   Indian stocks snapped 3 days of losses lead by Metals, IT and BFSI names. Indices moved higher by almost 0.40% - 0.44%. Metal index showed a strong rally into record levels gaining close to 5% on China moves. Mid and Small cap indices also gained between 0.40% - 0.90% on renewed interest.  For the day watch for some consolidation as Asian indices are not reflecting Wall Stree...

 US stocks closed mixed on Wednesday on Fed hint of curtailing the bond buying program. Dow lost close to 0.4%0, S&P closed flat but tech heavy Nasdaq gained close to 0.70%. The small cap Russell 2000 that was underperforming since last few days gained the most, moving higher by 1.50%. US 10 year had flat close as a slightly hawkish outlook by Fed got dampened in post meet conference where Fed chair said there are no timelines for taper. 10 year closed near 1.23%, dollar index fell near 92.25, Cboe Vix ended at 18.30. Crude futures traded flat, WTI above 72, Brent below 75.  Indian stocks continued to close down on Asian stock cues losing near 0.25%. Indices though recovered from intraday cuts of close to 1% on gains from Metal and IT stocks. Other sectors like Autos, Banks and Pharma continued to see downward pressure.  For the day watch for July series expiry related volatility. For last many weeks indices have traded in a band with extreme volatility within a narro...

US stocks declined on Tuesday as investors digested Q2 earnings. The Chinese clamp down on tech names, earnings anxiety on US IT heavyweights also had its impact on Nasdaq 100 which lost the most in two months.Dow saw a cut of close to 0.24%, S&P lost 0.47% , Nasdaq gave back 1.21%. Small cap Russell 2000 also lost 1.13%.  US 10 year declined to 1.23% ahead of FOMC meet, dollar index closed below 92.50, Cboe Vix moved higher above 19.  Crude futures also traded flat, taking Brent below 75, WTI below 72.  Asian stocks continued to trade mixed, Hang Sang saw two back to back cuts in excess of 1000 points or more than 4.5% losses, a fall largely lead by Chinese government action on tech names.  Indian stocks fell for the second day on weak Asian cues. Pharma sector saw biggest cuts on earnings disappointment from heavyweights like Dr. Reddy. Apl Ltd also missed the estimates on US pricing pressure and suspended the future guidance. There were other results disappoin...

  Wall street stocks rallied on Friday to record levels, the Dow Jones Industrial Average topped 35000 closing milestone for the first time, S&P reclaimed 4400 gaining almost 1%, Nasdaq also closed 1% higher. The small cap Russell 2000 underperformed the markets with gains of close to 0.46%.  US dollar index and 10 year traded flat near 92.88 and 1.28% respectively. Cboe Vix closed just above 17.  Crude futures continued to gain ground, Brent moved above 74, WTI above 72.  Indian stocks moved marginally higher on Friday extending the recovery that started post sell-off of Monday / Tuesday. Indices however failed to move above the trading range of last few weeks. The recovery was mainly dominated by FMCG, IT, Metal and BFSI names.  For the week watch for July expiry related volatility that may dominate stock specific moves. For near term buying near lower end of the trading range of 15500-15900 and booking near top end remains a popular trade till the range b...

  US stocks turned listless post strong back to back rally for two days. The traders were digesting an unexpected rise in jobless claims. US triplets saw gains from 0.07% to 0 36%. Small cap Russell 2000 underperformed with a cut of near 1.55%.  US dollar index traded flat near 92.80, Cboe Vix closed marginally lower below 18, 10 year also traded unchanged near 1.28%.  Crude futures continued to move higher, WTI moved near 72, Brent near 74.  Indian stocks staged a strong rebound from two days of selling lead by gains in IT, Metal, Realty names. Both the benchmarks rose in excess of 1.20% erasing part of opening losses of the week. Mid cap index also saw gains of 1.50%.  For the day watch for some consolidation in benchmarks with strong possibility of stock specific action. Watch for a decisive move out of 15500-15900 zone for putting additional money to work. Continue to trade with rotational bias till the indicated range is taken out.

 US stocks came back a full circle erasing pandemic inspired fall. Two day back to back gains erased almost all of the fall of Monday. US triplets gained between 0.82% to 0.92%. Small cap Russell 2000 that was underperforming till Monday saw gains of near 2% for two days in a row.  The risk-on environment took US 10 year back near 1.30% from 1.15% lows of Monday, US dollar index that was topping above 93 cooled to 92.80 and Cboe Vix also declined below 18.  Crude futures also joined the risk-on party, WTI moved above 70, Brent above 72. Indian stocks on Tuesday continued to see profit taking on global cues. Nifty broke below crucial support near 15650-15675 making traders nervous about near term trend. After Monday's resilience mid and small caps also saw some profit taking resulting in negative market breadth (though from 1 : 6 ratio the advance : decline improved to 1 : 3 towards close). For the day watch for Nifty recovery above 15700-15750 for some trending moves. Als...

  US stocks declined sharply on the fears that rising Covid-19 cases would slow global economic growth. Dow saw a cut in excess of 2%, its worst performance since October 2020. S&P closed down by 1.60% and Nasdaq by 1.10%. The small cap Russell 2000 lost 1.50% briefly touching the correction territory. It was risk-off across the asset classes be it stocks, currencies or bonds.  US 10 year also declined sharply to an intraday low near 1.17% before recovering above 1.20%. Dollar index traded near 92.85, Cboe Vix moved higher near 22. Crude futures saw a big cut of close to 7%, worst day in 10 months, on fears that rising Covid-19 cases may dampen demand. Brent fell below 69, WTI near 66.50.  Indian stocks saw its worst day in three months pre-empting the Wall Street fall on fears of global 3rd and 4th Corona wave. Both the majors lost close to 1.10% lead by losses in heavyweights like HDFC bank on results disappointment. Despite of huge losses in front-line names, the a...

US stocks fell on Friday pushing the Dow into the red for the week as inflation fears overshadowed strong retail sales numbers and better-than-expected earnings reports.Dow fell 0.86, Nasdaq by 0.80% and S&P by 0.75%. Small cap Russell 2000 fell the most with cuts of almost 1.25%.  US dollar index rose to 92.66, 10 year fell to 1.27%, Cboe Vix moved higher near 18.45.  Crude futures continued to move southwards on OPEC plus agreement on production cuts. WTI fell near 71, Brent below 73.  Indian equity indices, Sensex and Nifty ended flat on Friday lead by IT and banking stocks on weak global cues. Broader markets continued to outperform the benchmarks as the midcap and smallcap indices moved higher. Among sectors, Pharma, Metal, Realty and FMCG indices ended in the green. For the week watch for global market cues that seem to indicate some give backs at the start. Watch for Indian stocks' ability to show some resilience post initial weakness. Nifty's ability to defend...

  US markets ended mixed on Friday on growth concerns emerging out of Fed chair's dovish persistence. Dow closed marginally higher but other markets namely Nasdaq, S&P 500 and Russell 2000 saw a cut between 0.30% to 0.70% with tech heavy Nasdaq witnessing the heaviest cut.  US dollar index stayed higher near 92.55, 10 year dropped further near 1.30%, Cboe Vix closed above 17.  Crude futures continued to see downward pressure on a compromised deal between OPEC producers. WTI closed near 71, Brent near 73.  Indices finally broke out of multiple top resistance and closed into new record high levels lead by gains in IT, and Realty names. Sectors like Banks, Autos and Pharma failed to participate in the rally on Thursday. The broader markets also saw some gains with some mid and small cap stocks hitting life highs.  For the day watch for some more rotational trade till Nifty sets a history above 15900-15950 zone. Don't chase performers and buy stocks / sectors of...

  US markets ended mixed on Wednesday's session. Dow and S&P 500 moved a bit higher with S&P hitting new intra day record, Nasdsq closed marginally in the red. The small cap Russell 2000 continued to see profit taking and lost close to 1.60%.  US Fed indicated that they will continue the bond buying plan and would wait before easing out on the same.  Both US dollar index and 10 year eased on Fed news, dollar index fell to 92.41, 10 year near 1.36%. Cboe Vix also closed lower near 16.30. Crude futures corrected sharply on lower US demand and possibility of progress in Saudi and UAE for a compromised output increase. WTI fell below 73, Brent near 74.  Indian stocks moved higher on Wednesday lead by gains in IT and Pharma names. There was also some buying in mid and small cap stocks. Banks, autos and realty stocks were on the receiving end in an otherwise strong market.  For the day watch for weekly options expiry related moves and progress of Nifty near do...

  US stocks retreat from record levels after consumer price inflation surged the most in June since 2008 and also the Q2 numbers that kicked in were mixed. US triplets saw cuts between 0.31% to 0.38%. The small cap Russell 2000 saw a deeper cut of almost 1.88%  US dollar index and 10 year moved higher on inflation data, $ index moved to 92.70, 10 year just below 1.42%. Cboe Vix closed above 17.  Crude futures also traded higher, WTI above 75, Brent above 76.  Indian stocks snapped a 3 day losing streak on back of gains in heavyweights like RIL, ICICI and HDFC twins. Indices closed higher by almost 0.75%. Small cap stocks outperformed with index closing at record highs.  For the day watch for some volatility on mixed cues from global markets. Once again stocks may see rotational moves till Nifty takes out double top near 15915. The stock specific action that is news / Q1 results driven may continue to offer better returns for quick traders till the range breakout...

  US stocks shook off earlier losses to end at record levels. Investors awaited signs of a further rebound in corporate profits and start of Q2 results season. Indices gained between 0.25% to 0.35%. Small cap Russell 2000 closed just above the flat line. US 10 year and dollar index traded flat near 1.35% and 92.25. Cboe Vix closed at 16.  Crude futures moved a bit higher Brent above 75, WTI above 74. Indian stocks ended the day nearly flat, erasing the strong opening gains in a volatile. Realty and metal stocks showed some life on Monday. Markets ignored strong overnight cues from Wall Street as well as positive trading in Asian stocks.  For the day watch for choppy trade till Nifty takes out trading range set for last many sessions. Continue to maintain rotational positions till a clearer path is visible for the markets.

  US stocks tumbled on Thursday while Treasury yields turned choppy. US triplets suffered their worst daily performance in nearly three weeks as investors moved away from risk.  US 10 year fell near 1.25% before closing flat near 1.31% on concerns over sustainability of recovery. US dollar index also retreated near 92.25, Cboe Vix moved sharply higher near 19.  Crude futures recovered from two day sell-off, WTI moved above 73, Brent above 74.  Indian stocks fell close to 0.90% on global equity cues pre-empting Wall Street fall. Banks, Metals and Pharma sectors lead the fall. Weekly options expiry and fear of heights near 15900 added to the selling pressure.  For the day watch for support near 15500 for a rebound. For positional trade wait for a clearer breakout beyond the trading range of 15500-15900 before committing money on either side. Meanwhile the Q1 results season may offer some trading opportunity for compulsive traders till the breakout from consolidati...

  US stocks ended higher in a choppy trade, both Nasdsq and S&P ended at record close. Dow also closed with triple digit gains, small cap Russell 2000 ended with a cut of  close to 0.95%.  US dollar index moved higher to 92.70, 10 year dropped to 1.31% post Fed minutes that showed split views on roll back. Cboe vix traded down near 16.  Crude futures continued to trade down, Brent near 73, WTI below 72.  Indian indices rose towards close on the back of strong gains in Metal, Banks and Realty. Auto and oil and gas names ended down on sector specific news. Mid and small cap index also saw some gains with many popular names recording fresh highs. For the day watch for weekly options expiry and start of Q1 reporting season. Market may see major short covering if Nifty takes out double top of 15915 and may inch near 16000. Continue to maintain stop loss near 15750 for immediate term and 15500 for medium term positioning. Also rotate sectors in case of one or two ...

  US stocks ended mixed in a choppy session on concerns that best of the economic recovery may be behind. After opening with deep cuts market staged a strong recovery taking Nasdaq into fresh record closing highs, S&P also recovered part of the losses to close marginally below the flat line, Dow however closed in red with cuts of nearly 200 points. The small cap Russell 2000 also saw a cut of close to 1.35%. US 10 year declined sharply to 4 month lows near 1.35%  on disappointed services sector data that prompted traders to unwind tighter monetary policy bets. Markets may be watching today's Fed meet outcome for direction. US dollar index moved higher above 92.50, Cboe Vix moved higher near 16.  Crude futures fell from a six year high level on oil producers stand off. WTI fell below 74, Brent below 75. Indian stocks closed below the flat line in a volatile trade that erased the first half gains. Markets saw strong gains during the first half that took Sensex to fresh ...

  US markets were closed on Monday for observation of Independence day.  US dollar index traded lower near 92.25, 10 year rose a bit to 1.44%. Crude futures rose to fresh 3 year highs as OPEC plus deferred the meet for lack of consensus. WTI moved above 76, Brent above 77.  Indian stocks gained for the second day building up on the gains made on Friday. Indices gained in excess of 0.70% . Banks, Metal and Realty stocks gained the most along with major gains in mid and small cap stocks. For the day watch for sustainability of gains and possibility of Nifty reaching out to the top end of the trading range near 15900. Wait for a confirmation of a break above 15900 to add to positions for near term momentum. Meanwhile individual names may continue to offer decent trading opportunities for traders to trade. Also Q1 results season that kicks in later this week may also offer quick trading opportunity till the range breakout comes through.

 Major US stock indices climbed up on Friday notching a trio of fresh highs after the monthly employment report confirmed that the US economy continued to recover at a healthy clip. S&P 500 gained 0.81% setting a seventh consecutive record, its longest run since mid-1997, Dow gained 0.44% and Nasdaq added 0.75%.  Small cap Russell 2000 underperformed the markets with cuts of close to 1%. US dollar index traded near 92.30, 10 year closed lower near 1.43%, Cboe Vix closed down near 15. Crude futures traded flat, Brent near 76, WTI near 75. Indian stocks moved higher on Friday lead by heavyweights like RIL and ICICI bank. Mid and small caps also saw heavy action on the back of some momentum buying.  For the week watch for consolidation breakout from the zone 15500-15900, preferably on the the upside and some clear move for a directional trade. Traders can add to positions once Nifty breaks above the range and provides meaningful direction.

  US stocks moved up on higher than anticipated dip in jobless claims. S&P closed at yet another record high gaining almost 0.52%, Dow gained 0.38%, Nasdaq moved higher at a slower pace of 0.13%. Small cap Russell 2000 also gained 0.81% outperforming major markets.  US dollar index moved higher above 92.50, 10 year declined marginally below 1.47%, Cboe Vix traded below 16.  Oil prices continued to edge up nearing highest level since 2018 as OPEC+ failed to reach an agreement quantum of raising output. They will meet again today to decide on the same. WTI moved above 75, Brent traded flat below 76, narrowing the gap between the two below $1.  Indian stocks traded down on lackluster cues from global markets, individual stocks did show some spark in an otherwise dull trading day. Auto, Healthcare were amongst winners but IT and realty were on the receiving end.  Nifty is currently trading in a major trading zone between 15500-15900 and waiting for a breakout on...