Pre-Market Levels - 08-Jun-2020
Winners:
Indiusind Bank
SBIN
Bajaj Finance
IOC
Hindalco
Losers:
VEDL
No more losers as no stocks are negative in pre-open. My bias for intraday today - LONG
Winners:
Indiusind Bank
SBIN
Bajaj Finance
IOC
Hindalco
Losers:
VEDL
No more losers as no stocks are negative in pre-open. My bias for intraday today - LONG
Winners/Longs
1. Indusind Bank - Long at 456. EOD Exit at 452
2. No Trade
3. Bajaj Finance - Long at 2518. EOD Exit: 2508
4. IOC - Long at 93.80 EOD Exit at 93
5. No Trade
Losers/Shorts
1. VEDL no trade
Thought - In the Loser scanner, no stocks that traded negative were taken. However, a market neutral approach suggests that in such a situation, lowest gainers could be looked to short. I haven't testing this hypothesis enough. Had we considered such stocks for shorting, then WIPRO, SHREECEM, DRREDDY,M&M would have been in short universe today.
WIPRO,DRREDDY would have had no trade.
SHREECEM would have made money. But one stock costs 22000 and thus unlikely tradeable.
Mahindra & Mahindra would have made some money.
Overall a flattish to slightly negative day.