Trade setup for the day


  1. Sorry for not able to write the blog on Friday. I was down with fewer. I have still not recovered. 
  2. Coming to the markets, we bounced back on Friday. There was a news that PMO and finance are thinking to talk about the FPI surcharge. 
  3. As soon as this news came, the markets which were in red closed in green.
  4. But today things are even worse. We have bad news from the Kashmir border. The Amarnath yatris are moved away from Amarnath after some land mines made in Pakistan was found.
  5. The Hongkong market is in bad shape after protests increasing day by day.
  6. The US-China trade wars are escalating.
  7. We have RBI policy on 7th. But this may not provide major game changer now. All are expecting a 25bps cut. There are many other factors that are playing now.
MY TRADES
  1. I am planning to close most of my trades. Some in a minor loss as well and keep liquid cash. 
  2. I will set up a back spread. 
  3. The situation is slightly uncertain. No trade is the best trade in these situations. We can always enter when things are right.
GLOBAL MARKETS
  1. Today global markets are bleeding. Nikkei is down 2.5%. Hangseng is down 2.5%.
  2. On Friday, Nasdaq was down 1.3%.
  3. Europe was down by 3% on Friday.
  4. SGX suggests that we will open in red today. It is already down by 80 points.
CRUDE and $
  1. Crude is now at 61.33
  2. $ is now at 69.58
FII AND DII DATA
  1. On Friday, FII sold for 2888 cr and DII bought for 2812 cr.
  2. FII are continuously selling and market fall wont stop if this continious.

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