Trade setup for the day

Now that the Corona fears are escalating. Now the number of cases that are found are increasing and the death toll has raised to 100. Now the disease is spreading to many countries like Singapore, S.Korea etc.
The world markets are falling like cards as this is compared to deadly diseases like SAARS, ebola etc.
China is still looking for a cure.
Dr reddy results were fantastic. HDFC came with its results and it had good profit due to gruh finance. But some analysts feel that the results were not good due to the higher slippages.
Nifty is very close to 50 DMA. Let's see whether it will bounce from here like last time or go down more. Usually, when this kind of news is associated, the technicals do not work much.

MY TRADES

  1. Definitely, I did not expect a major disease outbreak like Corona. 
  2. My view was mildly bullish and now suddenly things changed due to Corona.
  3. I had to do a lot of counter trades to protect myself from the fall. 
  4. I feel that we will have a sharp recovery if this disease is contained. 
  5. I will definitely use this opportunity to build my portfolio. 
  6. I have sold
    3900pe bajajfinance x 1
    1400pe reliance x 1
  7. I will take delivery if it falls below this.
  8. I have sold huge quantities of nifty and banknifty FUTURES yesterday. I will be in good profit today. 
INTERNATIONAL MARKET
  1. The US markets closed in deep red yesterday. Nasdaq lost almost 2% and Dow jones lost around 1.5%. 
  2. European markets were in deeper red. The major indices lost more than 2.5%.
  3. The reason for this fall is simple. Its just corona, corona, and corona.
  4. Today the Chinese markets are not in action. But the Asian markets are all in red. 
  5. SGX suggests that we may open in mild red. There can be follow through once the 50 dma is broken.
CRUDE AND $
  1. This is the only good news now. Crude is falling. It's now $58. 6. As China is the major producer and consumer of oil, this was expected. 
  2. $ is now at Rs 71.46
FII AND DII DATA
  1. Yesterday FII sold for 438cr and DII bought for 10cr.


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