- The rise in covid cases is worrying. More restriction and lockdowns may have an impact on the markets. Otherwise, covid is more like an over story.
- Turkey president has fired its central bank chief after he raised the rates.
- Today, the Asian markets are mixed. SGX is suggesting a muted start.
- The US markets closed in the red. The US bond yeilds are at 1.7 now. Techs have seen a recovery and the Nasdaq closed in the green.
- The markets may fall more if nifty close below yesterday's low as it will be the clear formation of the double top pattern.
- We should wait and see if Friday's bounce was a real retracement or a false signal. Wait for this week. As we have the expiry, there will be a lot of volatility.
- Crude oil is at $64. International consumption is coming down and the US inventories are piling up.
- FII bought for 1500cr and DII bought for 560cr on Friday. The FII has bought a lot and if markets start to fall, they won't hesitate to fall. There was FTSE rebalancing which might have caused the FII to buy in the Indian markets.
MY TRADES
- I will be taking the position in the April expiry as I don't want to take a position in the volatile markets in the expiry week.
- +1X nifty 15200ce
- -1 X nifty 15400ce
- -1 X nifty 15500ce
- I have even created a youtube video on this. Please check that below as I have explained in detail.
3. I will start building a portfolio if nifty comes down to 14000.
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