Market on Jan 10, 2025

Daily Journal:

TCS fails to impress with the results. Deal wins are decent. That's a light of hope.

Tata Elxsi continues weak performance.

US markets were closed yesterday. Futures are trading in red. 10Y Bond Yield continues to rise. Now it is above 4.6%. Brent Oil inches up to 77$. Dollar Index is above 109 now. These macro indicators are not giving good indications for global equity markets. This will lead to FII outflows and we can see that happening. Asian markets are mixed. Consider global cues as weak even for today.

Weakness continues in the Indian markets as expected. I have been consistently maintaining Cautious view in the short term. We will soon see Nifty moving towards 23000-23250 zone. There can be some support there.

As a strategy I have been investing small amounts bit by bit during this consolidation phase as I know this is temporary. When everything becomes good, everyone will turn positive. But I will not get these prices then.

Major shuffling of our portfolios will happen based on Q3 numbers. If any of the portfolio companies, delivers weak numbers and gives weak commentary and then we will exit that stock to generate more cash. Let’s see how it goes.