Good morning

20,000 PAAR, AB 21,000
Nifty took 8 days to reclaim 29 days of fall
A very fast move to 20,500-21,000 has begun
Next round of move can belong to large caps
Take some money from Small caps and put in large caps
No valuation comfort now in Small Caps
Risk-reward is still in favour for large cap Stocks
Fin Nifty expiry today, need to see Bank Nifty’s move
Bank Nifty exactly 800 points away from all-time high
If retail inflation comes below 7%, Bank Nifty can hit high tomorrow

NIFTY: STILL NOT OVERVALUED
Index Current PE 10-yr average
Nifty 20.3x 18x
Midcap 25.2x 20.1x
Small Cap 20x 16.6x
Nifty Bank 14.2x 16x

LARGE CAPS: STOCKS BELOW AVG VALUATIONS
HDFC Bank
TCS
Infosys
ITC
SBI

NIFTY OUTLOOK
Stay long and keep trailing stop loss
New stop loss now: 19,850
Fresh buying zone: 19,900-20,000
Stop loss for fresh positions: 19,850
ABSOLUTELY no thoughts of shorting this market
Approach the market from month end options
Can book profit in 19,700 and 19,800 Calls
Shift your positions to 20,200 and 20,300 Calls on dips

BANK NIFTY OUTLOOK
Now need to go all out on Bank Nifty
PSU Bank Nifty gave a massive breakout
SBI and HDFC Bank now leaders of Bank Nifty
If retail inflation is benign, new high likely
Risk-reward is in favour now for Bank Nifty trades
Trailing stop for Bank Nifty longs now: 45,200
Target for current swing: 46,500-46,800

Good morning.

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GM

What a move in PSU Banks!!!!!!!!!!!!!!!!!