Trade setup for 3rd april

Today's news of the day is the oil. Yesterday Trump tweeted that Saudi and Russia have agreed to cut oil production by 15 million barrels. As soon as he tweeted, the brent jumped 20%. This is the power of Trump's tweet.
Now the carona cases touch 10 lak worldwide and in India, we have touched 2500.
So today, the oil stocks will be interesting to watch and trade.
Yesterday, we had a holiday and dow was volatile and finally closed in the green.
We have Modi's speech at 9am. Let's see if we have any surprises.
On Wednesday, the interesting thing is markets fell and VIX also fell. All have a belief that VIX will shoot up if markets fall, but that is not true.
When Nirmala sitaram reduced corporate tax, nifty shot up and vix also shot up. So these things are possible.
The volumes were less comparatively on Wednesday.
8000 on the lower side has huge support. If we break that then 7500 will be crucial. If that is broken then god only should save.


  1. On Wednesday I was busy in expiry trade and was able to get around 1.5 lakh. 
  2. I am currently carrying some lots of banknifty futures. I did not hedge this as the volume was less. Let's see, if I can end in profit. I am already in a small loss. Will keep an intraday SL of another 250 points. 
  1. The crude boost made US close in green. The energy sector was a major contributor.
  2.  European markets also closed in the green due to oil.
  3. Today morning the Asian markets are also in green. SGX is flat to negative. 
  1. Crude is now almost near $30. Is this reversal or is there further fall in the Crude. We need more confirmation. I feel that confirmation will come after $40. China production has resumed. If carona is contained then there might be a reversal.
  2. $ is at still Rs 75+
  1. As expected, FII have sold in cash for worth 1116cr and DII has sold for 450cr