Trade setup for 28th april

  1. Reliance and Facebook have come out with a deal where you can order groceries in whatsapp via jio mart. From 3 days, reliance is closing in the green. It had gone to 900 few weeks back and is already at 1400+ in less than a month. It looks that it may close in green today as well.
  2. The carona cases are increasing but the economy is coming out of the loackdown phase.
  3. Boeing has started flight operations in many places.
  4. It looks like we may not extend the lockdown after may 3rd. But we may continue to have a lockdown in sensitive places.
  5. The US markets are now above the 100 DMA. The US markets closed in the green. This is the 4th consecutive session where the dow is closing in green.
  6. It looks like the Carona might take a back seat if cases don't raise significantly and we might not look forward to the US election.
  7. Crude is again below $20. 
  8.  Yesterday Indusind came out with results and profits were down to 77%. So there will be a gap down today(looks like).
  9. The new margin for options is now postponed to june. So traders will have to wait for one more month.
  10. VIX is within 40.
  1. I am short with Reliance futures. Reliance might open in the green today also. Let's see, will close or add some hedges today. Day before yesterday there was a MTM of 1.5lak loss but now it is at a flat. 
  2. Bajaj finance looks like it has bottomed out. I have averaged my old positions in equities. Now my average rate is Rs 2600. Let's see. I might be biased as I had old positions. 
  3.  I closed my equity positions in reddy labs yesterday. I had bought it at 2800 just 1 month back and yesterday I sold it at around 4000. 
  1. US was up and closed in green for 4th session.
  2. Europe has also followed the US and they also closed in green.
  3. Today morning the Asia is slightly down but SGX is in positive. We may open in slight green and from there we will take on.
  1. Crude is below $19.
  2. $ is at Rs 76.24