Trade setup for 22nd March



 Just as we thought that the bad days were over and markets world go higher, markets started to show their true colors. Last week, technicals were showing that markets would go higher, FII had started buying, crude fell, and came below 100. Yesterday, again everything has become weak. Technicals are bad, crude at $118, FII started selling heavily again.

Yesterday, Powell told that the inflation risk is higher. This was enough for the markets to fall. Dow fell almost 400 points and recovered slightly. 

Russia had given an ultimatum to Ukraine on a port city called Mariupol. Ukraine did not surrender and now Russia is angry. 

 Yesterday fuel prices were hiked by Rs 25 for bulk buyers and today it is hiked by 80ps for retailers. This hike is not bad as I expected at least 10Rs. More hikes may come if international crude increases. EU is thinking of banning Russian oil. Will the US be able to fulfill the demand??

Crypto tax. Losses cannot be set off. Indirectly, govt is telling us not to trade in crypto. Simple.

Yesterday Alibaba shot up as they increases the buyback from $15billion to $25billion.

A Chinese passenger airline crashed in China yesterday and everyone on board has died.

Now zomato will deliver food in 10 min. Not sure why there is so much obsession for 10min. The world is definitely a crazy place :)

Now 50DMA for nifty and 200 DMA for banknifty will be strong resistance. Nifty did cross and close above 50dma but there was no follow-through. 

MY TRADES

  1. Now I am mostly doing intraday. Yesterday, I was bullish and took some long trades. But things did not work. I had to do a lot of firefighting and had to close the day with a loss of almost 14k.
  2. I will be doing only intraday for this month and will think of positional from next month.
INTERNATIONAL MARKETS
  1. The US markets closed in the red. The futures are also in the red.
  2. Europe closed in the red
  3. Today the Asian markets in the green. Japan is up by 1.5%. SGX is flat.
CRUDE AND $
  1. 2 days back crude was at $98. Now it is at $118. 
  2. $ is almost at Rs 76
FII and DII
  1. FII just did a BTST trade. They bought daybefore yesterday and sold yesterday. 
  2. They sold for more than 2000+cr
  3. DII bought for only 250cr


Comments

Post a Comment