Trade setup for 31st march 2020


  1. US and Russia have agreed to talk on oil. So there was a small rebound in the oil.
  2. The China PMI data was better than expected and has beaten all polls. It is at 52 whereas all expected around 35.
  3. There is a Covid vaccine hope by Jhonson and Jhonson. There are many other drug companies which are competing to come out with a drug.
  4. So the world market is green, especially the Asian market.
  5. The volume in the markets is very very low. That's why you see a lot of slippages in the trades.
MY TRADES
  1. My trades which I did today. Sold all the below things
    Maruti 3500 pe
    Indusindbk 200pe
    vedl 50pe
    ITC 150pe
  2. Will do adjustment if trades go wrong. There will be a gap up and I am pretty sure that I will be in a pretty good profit for today.
  3. I had Reliance in my portfolio. I added more to average as it had fallen a lot.
  4. The counters in my portfolio which are bleeding are bajajfinance, vedanta, tatamotors, ITC and Reliance . Rest all are in red but not deep red. I have done many counter trades to protect the above. 
  5. I somewhat believe that we are near the bottom. I will get confirmation when there is no second round of selling.
  6. Yesterday I mentioned some of the points to note before entering. 
FII AND DII
  1. After buying for a day, the FII are again started to sell. Yesterday they sold for 4363cr and DII bought for 3550cr.
  2. Till FII starts buying, there is not much chance that we will inch higher.
CRUDE and $
  1. Crude is now around $23. Few months back I did not even think in my dream that crude would be at this level. This is really good for India but the world consumption has fallen drastically.
  2. $ is at Rs 75+
WORLD MARKET
  1. Dow shot up after a vaccine hopes came.
  2. Today the Asian markets are higher and SGX suggests a gap up.
  3. Lets see if this gap up has follow through.

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