InvestorQ : Hi Dikshi, can you share your trading view for the 30 April and do you see a correction after 4 days of positive trends in the market?
shrinidhi Rajan made post

Hi Dikshi, can you share your trading view for the 30 April and do you see a correction after 4 days of positive trends in the market?

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diksha shah answered.
4 months ago
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It was a volatile day on Thursday, being the expiry day for F&O, with the Nifty hopping between gains and losses before it closed slightly in the positive. The action was still very limited to the metals sector with stocks like JSW Steel, Tata Steel and Hindalco hogging all the limelight. One good thing is that the Fed has given comfort on liquidity.

The new F&O series starts on Friday with modified lot sizes across 40 stocks. Most likely, Friday would be a day the markets could take a breather and put off fresh calls for the coming Monday. Traders can use higher levels to wind down some of their long positions especially if you have been long on metals for too long.

For a change, the foreign portfolio investors were in the positive on Thursday with net buying of Rs.809 crore but surprisingly the domestic institutions sold Rs.942 crore of equities on Thursday. The April series concluded with negative FPI flows but the domestic flows were positive. There was a lot of buying by insurance companies in the month.

DOW recovered sharply on Thursday after the beating on Wednesday gaining nearly 240 points. However, the gains on the NASDAQ were relatively tepid. European markets were in the red but the representative SGX Nifty is weak in early trades largely because of week end concerns ahead of likely news flows on core sector, auto sales and PMI.

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