Another slow day in the markets albeit NIFTY, SENSEX and other broad market indices were trading in green most of the day. After an almost flat opening, markets remained tightly rangebound, without any wild moves in any direction, decaying premiums and making it difficult for option buyers to make any profits whatsoever.
INIDA VIX cooled down 4.92%, to close at 15.74
Sectors that moved the market: Most of the sectors were trading in green, with OIL AND GAS leading the pack to become the top contributer in NIFTY gains.
DEFENCE sector today again saw some buying to close with almost 1% gains, GRSE (Garden Reach Shipbuilders) being the main constituent in these handsome gains in this sector.
NIFTY REALTY was the only sector that was trading and closed in red, sheeding moderate 0.7%. All of its heavyweighted stocks were in red, making it the only sector in loss on a day when there was a broad based buying in the market.
FNO Top Gainer/Loser: RVNL was the top gainer in FNO space with massive 6.5 % gains, along with POLICYBZR (5.83%), CESC (4.59%) and JUBLFOOD (4.57%) being the close contendors.
ABFRL shed more than 10% in a single day to become the top loser in FNO space today, indicating that the market has yet not adjusted to the recent demerger that the company has undergone.
Sector Update:
Learnings for traders and retailers:
- Trade Less, Observe More – If the market is choppy and directionless, stay on the sidelines. Sitting out is a legitimate position. The best traders are often the most patient ones.
- Stick to High Conviction Setups -Trade only your A+ setups that you have tested over time. Random trades = random results.
