Feb has been a very volatile month. I expected this kind of volatility in the first week as we had the budget. Definitely, I did not expect this volatility in the last week. Now the Carona virus vibes continue in the market. Gold is shining and shining. Now it is at 7 year high. After falling 1000 points day before yesterday, yesterday again the dow fell 800 points. Now the Carona virus is spreading in countries like Iran, Italy. Now many countries are stopping trade with China due to the virus fear. South Korea has the highest death outside China now. CDC officials warn that the virus can also hit the US. The yield on 10 year US treasury note hits record low.
MY TRADES
- Yesterday I closed more trades in a minor loss. Sometimes you have to close when things don't work in your favour.
- After falling so much, I am not getting the conviction to go short as well.
- That's how the falling markets work. It is a falling elevator.
- I am not taking fresh trades now. I am doing trade adjustment to the existing positions and closing them if the loss escalates.
INTERNATIONAL MARKETS
- The US markets fell again. Dow lost 800 more points.
- Now the Carona spreads to Austria, Swiss.
- European markets also lost close to 2%.
- Today morning the Asian markets are also in red. SGX suggests that we will gap down today as well.
- Now FII are selling heavily. Yesterday they sold for 2300cr and DII bought for 1500cr.
- Crude is now at $55.3. We may see more fall if the Carona escalates.
- $ is trading at Rs 71.73
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