Throughout the trading session there was a sense of indecisiveness in indices. Little gains accrued during continued buying in the first half of trading was sold into in the later half. Tug-of-war between bulls and bears was there for all to see, with no clear winner. As a result indices ended absolutely flat.
But the good news is that midcaps performed well and ended the day with some decent gains. That would come as relief for traders in that genre.
Only point of concern is that midcaps are generally the last to rally in a bull run. Does that mean we are at the end of a bull run starting from 6900 to 7700 in Nifty? That will surely be the case if Nifty does not close near 7700 in next 2/3 trading sessions.
Now let us update the status of 19 long positions that we are holding :-
TATAPOWER : Bought at 62.5, Closed at 65.9
JINDALSTEL : Bought at 62.5, Closed at 66.75
RPOWER: Bought 50, Closed 49.4
IOB : Bought 30,Closed 29.45
ALBK: Bought 57,Closed 54.25
IDBI: Bought 71,Closed 67.1
PNB: Bought 87,Closed 81.85SBI: Bought 195,Closed 184.25
UCOBANK: Bought 40,Closed 38.25
CANBK: Bought 194,Closed 183
KTKBANK: Bought 104,Closed 103.9
SYNDIBANK: Bought 67,Closed 66.6BANKINDIA: Bought 98,Closed 91.2
ORIENTBANK: Bought 94,Closed 87.3
UNIONBANK: Bought 134,Closed 125.8
ANDHRABANK : Bought at 53, Closed at 51.95
HEXAWARE : Bought at 268, Closed at 248.65
BANKBARODA : Bought at 150, Closed at 143.95