- Now all eyes on the budget which will be Modi 2.0 first budget.
- Will this give triggers to nifty to rise above 12000? That is a million dollar question.
- Personally, I feel that the budget may not provide the necessary fuel. But markets have surprised me many times.
- Nifty 20dma which is 200 points lower seems to be a good support.
- Trump has now eased tariffs on Mexico. Trump announces to put a tariff on a country, market fall. Then he tells that he was joking and markets recover.
- US job data which came was also not as expected.
My trades
- Nifty 12000 short straddle was done on Friday.
- I will buy more only if 12000 is crossed convincingly and I don't expect that to happen soon. I will wait.
- ICICI bank found good support at 20dma. I am buying 2 lots of ICICI futures today.
- May take some positions today in weekly expiry.
- Reliance is falling. Being a heavyweight of nifty, recovery of reliance is very much needed and now crude is also rising. I am having Reliance in cash bought at a slightly high rate.
- On Friday, the US rallied more than 1% as Trump relaxed tariffs on Mexico.
- Europe also rallied above 1%
- Today morning, Asia is also in green. Nikkei is 1% up and Hangsang is 2% up. SGX indicates that we will open in green. It is up by 60 points.
- Crude is rising. It is now $63.44 per barrel.
- People who trade in crude can now buy as crude is expected to touch 65 now.
- $-Inr is now at 69.47. As crude rises, $ may cross 70-71.
- On Friday, FII sold for 478cr and DII bought for 179cr.
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