Trade setup for the day


  1. I did suggest that shorting on a budget day is not a good idea. So now all the shorts are trapped from yesterday. 
  2. One can buy 12000ce for this month. I feel that we may break 12000ce for this month. You can close the trade if 200dma is broken.
  3. ITC is a stock which I am repenting. I covered my shorts and from there it is down 8%. Sometimes, no matter how much research you do, if you do not execute that then there is no point of doing that research. When I shorted ITC in January, I did my research and decided to carry that till budget. But, I did cover 3 days before budget as ITC results were there and I was in profit. I did not want to take the risk. Now seeing back, I feel that I was in profit. I could have hedged by buying a few CE and carried my position. Anyway, its a lesson.
  4. Asian paints, tyre companies are roaring due to crude oil fall.

MY TRADES
  1. I was long on nifty futures on budget day and I am carrying that and is in good profit. Will hedge or exit today for this.
  2. I closed some of the spreads which I had in decent profit yesterday.
  3. I am planning to buy crude oil for a slightly longer term. I feel if China comes back then we may see Crude back to $60 mark.
INTERNATIONAL MARKETS
  1. Yesterday the US markets rallied. The Nasdaq gained more than a per cent and the dow gained more than 0.5%
  2. European markets also gained more than 0.5%
  3. Today morning the Asian markets are positive. SGX suggests that we may open in green.
FII AND DII
  1. Yesterday FII sold for 1200cr and DII bought for 1286cr.
  2. The FII selling is not as bad as the budget day fall was expected.
CRUDE AND $
  1. This is the main thing for us. Yesterday it went to $54 and is now around $56. This is rally good for EM like us.
  2. $ is at Rs 71.32

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