Now it is the crude that is getting a lot of attention. In India, fuel prices have been increased by 80ps for 2 consecutive days. It will keep increasing if the international crude price increases.
The EU is divided on whether they should ban oil and gas from Russia. The Russia-Ukaraine war is not showing signs of ending. It has been 4 weeks now.
Yesterday, there was a wonderful gap up but there was no follow-through and markets fell. Banknifty fell 800 points from high. HDFC and icici were the major contributors.
Today Russian markets are going to open after a month. It will be interesting to see how it reacts.
NATO will be providing aid to Russia.
Paytm is not showing any signs of relief. I bought a few days back and sitting with a 20% cut. :) These are some of the bad effects of investing which is why I am a trader.
The fuel-dependent stocks like paints, autos are falling. The war is not yet over, so stop assuming that the bottom has formed or the top has formed. The markets can take any kind of turn.
Now Russia is not accepting USD for oil or gas purchases. They are demanding Rubbel. India has agreed and prepared a Ruppe-Rubel agreement.
MY TRADES
- I am taking a bearish trade for the month of April
- +1 X 17200pe
- -2 X 17300pe
- I am selling PE of 10 companies. Will take delivery if it falls.
- The US markets fell. Dow lost more than 400. Thanks to oil.
- Europe closed in the red.
- Today Asian markets are in flat. SGX is suggesting a negative opening.
- Crude is at $123 now. Recently it had gone up to 132. Lets see if that will be taken out.
- $ is at Rs 76
- Finally, they have stopped selling. Yesterday they bought for 481cr and DII have sold for 300cr
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