The markets are on fire. It looks like today we might break the 15000 marks again. The covid cases are rising in every city, but the stock markets are in no mood to relax. Nifty managed to close in the green for 3 consecutive days and now we are at the upper range. Let's see if 15000 will be taken out easily as that is the strong resistance zone.
2nd wave of covid is strong and it has done more damage than the first wave. Everyday laks of cases are reported and now most of the major cities are locked down for a fortnight. I hope this lockdown will break the chain and the cases will fall. The vaccination drive will also definitely add to the fall.
On Friday, the US jobs data came and it was below expectation but the US markets made another high.
On Saturday, Elon musk passed some comments on cryptos and Dogecoin fell 40%. Then he told that he will be taking the Dogecoin to launch DOGE-1 mission to the moon. It immediately recovered more than 20%. I don't know how people trade in such a volatile currency. How can currencies be so volatile??
We have a very strong global cue. The European and the US markets are on fire. They are making new highs every day.
Metal stock are just roaring. tatasteel, hindalco, sail etc are going non stop. The metal price are at the lifetime high.
MY TRADES
- In my Zerodha account, I forgot to add other legs for hedging and now I am in soup. Now I will have to do a lot of firefighting. This is what happens. The day you forget is when the markets will make a major move in the opposite direction.
- I had executed a huge iron fly in my account and today they will be in trouble. I will have to add more legs to that.
- I am tracking SAIL and waiting for the opportunity to short. I will do a video of that live trade. Today might be that day if it crosses 150.
- Today I will be executing the below strategy.
- +1 X 15000ce
- -3 X 15100ce
- +2 X 15200ce
- All are on fire. We are rallying for the strong global cues. Even though we are locked down, the world is operating and we are also enjoying the ride.
- Dow closed at the record high. Again the RSI of dow is above 70. So there can be some pullback. So be careful.
- The European markets are also making new records everyday. On Friday, the FTSE, CAC made new highs.
- Today the Asian markets are in the green. SGX is suggesting a 200 point gap. It will be interesting to see if 14900 and 15k will be taken out or not. Nowadays SGX is not a very reliable indicator but seeing the global markets, today it may work as per SGX.
- On Friday, FII sold for 1168cr and DII bought for 1468cr. This is really giving confusing signals.
- Crude is now at $68.63
- $ is trading at Rs 73.32
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