Today, it is Mr. Rajeev’s 60th birthday. The crux of such a vast experience is that whenever the situation seems tough in financial markets, it might be the best time to invest your money. However, the investment should be in at least 3 installments. When the market is near the top, you must book profit as well. Especially in 2022, the market is not able to sustain higher levels. Hence, booking profit is necessary. Be it 2004, 2008, or 2020, whenever the market witnessed an absolute crash and people invested their capital with patience, it was easily doubled or tripled in a very short period of time. It is best to keep just 25% of your capital for trading and 75% for investment. Most people want to become millionaires overnight but that is not a reality for 99% of traders. Risk management & patience are must-haves for any investor.
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VIEW FOR FOMC: If S&P500 doesn’t breach 3800 then it may bounce back to 3900-3950. After FOMC, a correction is indicated in the stock market. Bullion is highly volatile for today and tomorrow. Gold has support at 1650 and Silver has support at 18.70. If the support level is not breached then Gold may move up to 1705 while Silver may move up to 20.00.
Indian stock market: In the previous session, we were holding the long position from Tuesday. Booked significant profit across stocks and indices. Nifty made a high of 17940 & closed at 17803 while Bank Nifty made a high of 41724 & closed at 41470. At the higher level, it was advised to book profit in indices. Again, went 50% long in Nifty and Bank Nifty at the closing.
It’ll be best to buy call options (Nifty-17800 & BankNifty-41500/22 Sept) of Nifty & Bank Nifty and put options (Nifty-17500, Bank Nifty-40500/6 Oct) of Nifty & Bank Nifty. If the market moves higher then the call options will save your portfolio. If the market opens downward then you could make a good profit in put options and a small loss in call options.