- Yesterday was another blood bath in the US. The tech stocks which rallied like there was no tomorrow are now correcting. Tesla lost 20%. Apple lost 6%. It is obvious that when the mother market falls, the small markets will be crushed.
- Yesterday, we saw a huge selloff in our markets as well. The markets were on the sideways. Then there was a huge sell off in the last hour.
- Now the Corona fears are back. The vaccine might not be available until the US election as there was some hurdle from the vaccine by AstraZeneca.
- There was a slight air firing in the Indo-China border. The situation did not get escalated but this will add tension in the stock market.
- Nifty 20DMA is getting difficult to capture. Any fresh upmove will happen only when the 20DMA is reached. Yesterday, we also lost 20DMA in the banknifty.
MY TRADES
- I had some puts which I had sold some time back when the markets were bullish. Now I am running for cover. I am now doing a lot of adjustment trades.
- Vodafone-Idea fell 10%. I am still in minor profit. Probably, the rebranding news did not gel well with the market. Since it is a small amount, I am not bothered by the price movement and I have decided to keep that for the long term.
- I will now trade in the monthly expiry as weekly seems to be slightly dangerous.
INTERNATIONAL MARKET
- The US markets are now losing after rallying too much in short time. Now dow is 10% away from its all-time high. It was less than 3% a few days back. Nasdaq fell 4%. Dow fell 3%. S&P fell for 3 consecutive days. Nasdaq has now become bearish and sell on rally from buy on dips.
- The European market also corrected badly. Even they fell close to 1-2%
- Today morning the Asian markets are bad. SGX says that we will open with a gap down.
CRUDE AND $
- Crude fell 7% overnight. Now it is below $40
- $ is at Rs 73.59
FII AND DII
- FII sold for 1000+cr and DII bought for 620cr.
- When both were selling few days back, I did anticipate this situation which happened.
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