hehe, looking at a big pool of stocks, only the Life insurance Stocks are very close to their Highs.
Many people will be buying or needing it in current times
Yes, i was reading about that and i doubt that selling is over. Once we go below 11100, panic will set in and we are likely see to sharp sell off. While i hope it does not happen but seems likely.
If you remember, something related to ADRs also came out last year or before that. How much Indian money has been round-tripping in the guise of FII in stock market is also another big mystery.
Probably that is why non-corporates like Trusts etc are being targeted from what I think.
Kale dhan ki kahi na kahin safai ho rahi hai, and this will have collateral damage.
Shorted Dr Reddy in opening.. Was in good profit. Suddenly stock gave 60 Rs jump.
Had to do multiple trades after that to cover the losses. Now in mild green.
But surprising to see INR still firm at 68.50 levels. Means that money going out of stocks maybe going elsewhere i.e debt? or They are just sitting on cash to deploy it at lower level. If there were repatriations, it should have reflected in the currency like we saw in 2016.