Trade setup for the day

Over the weekend, Aravind Kejriwal took oath as the CM of Delhi for the 3rd time. Last week we had the AGR case hearing in the supreme court. Courts have asked why the telcos have not made the payment yet to the government. So now vodafone is in deep trouble. On Friday, it fell 22%. I had warned in facebook and twitter that these telcos will be volatile. But bharti gained 4% as they have the resources to pay the fine. So, now we might have only 2 players in telecom. Airtel and Rel jio. Now be ready for tariff hikes as it is a monopoly by only 2 players. So always understand the intention when things are given for free.
Now the Carona virus cases have reached 70000. But the new cases which are found are reducing. This is taken positively and the Asian markets are off lows.


  1. The markets are slightly oversold. 12000 is strong support. I will buy if markets fall today. I am sure that Carona fears will go away soon. It is already showing signs. Will change my view if 12000 is breached again.
  2. I am long on Infy futures march series contract. 
  3. I am planning to buy ITC in cash as I feel it is oversold.
  4. Crude might recover if Carona recovers. I will be going long on Crude oil as well. 
  5. All are naked for now. Will add hedge accordingly if needed.
  1. The US markets were flat on Friday. 
  2. European markets closed in the red.
  3. The Asian markets are slightly lower. The Japan GDP contraction was a slight worry. The reduction of new Carona cases has added slightly positivity to the sentiments. The China and Hongkong markets of slightly off lows.
  4. SGX suggests that we may open in the flat zone.
  1. Crude is now trading at $57.16
  2. $ is at Rs 71.4
  1. FII data is slightly bearish. FII have sold close to 700cr in cash and DII have bought 219cr.
  2. In Feb, FII have sold for 2000 odd cr. This is slightly bad. They should turn buyers for markets to rally further.