Yesterday I had put a Nasdaq chart which was a simple Fibonacci retracement chart. It had retraced 38%. I thought that it would fall more. But there was a bounce and Nasdaq shot up 4% in yesterday's session. Nasdaq should shoot up, even more, to give confirmation that the uptrend will continue. This may be a falling signal as well. So let's not conclude now that the uptrend is intact. I will still stick to my view of sell on rally.
Elon Musk announced that he would build a city near Texas called starbase which would accept crypto called doge. Tesla shot up 20% and that took Nasdaq so high. It's really crazy how these stocks rally just by small news without the fundamental change. People say stock markets move with fundamentals. Just see this example. 20% in a tweet. Nothing is done on the ground. Really crazy !!!! Tesla also sold a good number of vehicles in China. Even that news added to the Tesla rally.
China inflation and macro-data were out and it seems to be good as Chinese markets are up.
Crude is falling which is good for India. Still crude is at $67.
Yesterday the FII and DII have bought. FII bought for 2800cr and DII bought for 1250cr.
Frankly, all the data is slightly confusing as lot of data is contradicting each other. I would suggest new traders to stay away for some time till the trend is clear. It is getting more and more volatile these days and the trend is not getting clear.
Today's first hour high will be important. If that is taken out then the markets may go higher.
Bond yeilds are not going above 1.6. So that data also took the US markets higher.
Bitcoin is now at $53000.
Yesterday there was a sharp rally at the last hour. Nitfty closed at the day's high. This gave me the sense that today also the rally might continue. I have executed the below trades
- +1 X 15000pe
- -1 X 14950pe
- -1 X 14900pe
- -1 X 14850pe
- -1 X 15000ce
- -1 X 15000pe
- +1 X 15200ce
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