Trade setup for 8th April



 The first week of April was very volatile. Let's see if the rest of the month consolidates or not. Today is RBI policy. Many are expecting it to be a status quo. So let's see what RBI has in store for us. Yesterday, Pakistan central bank hiked the rate by 250bps. On my Twitter, a person replied that they have done what FEDis planning to do for the entire year 😂😂😂

Ruchi soya fell 13% after the FPO. Now we need to see if LIC will be oversubscribed or will it be a flop??

HDFC twins have almost given up the merger news rally.

The new variant of the covid is spreading in China. The daily cases in Shanghai is close to 24k which is very high. China has imposed a lockdown in many cities.

Oil is falling with the fear of demand falling and many countries are now releasing oil from their reserves including USA.

EU approves putting an embargo on Russian coal. 

Again in the UN, India has abstained from voting for or against Russia.

The US markets opened in the red and then gained momentum in the last hour and closed in the green.

MY TRADES

  1. My monthly trades which I have taken are in wonderful shape. I am already sitting with good profit. I am closing these trades in this week and concentrating more on intraday trades.
  2. Yesterday I did some intraday trades and I was able to close with a  gain of around 0.3%.
  3. My exposure to investment is very low. I had closed a lot of my holding when nifty was at 18k last time(not this week). I am still not getting the confidence to make a fresh entry. I am not comfortable with such huge inflation figures, high fuel price, high $ value, high FII selling, and everyone dumping things on retailers. 
INTERNATIONAL MARKETS

  1. $ index is at 99.8. It will be a issue if it goes beyond 100.
  2.  US markets closed in the green.
  3. Europe also closed in the red.
  4. Today Asian markets are in the red. US futres are in the red. SGX is suggesting a flat opening. May be we may take it forward after the RBI policy.
CRUDE AND $
  1. Crude is now below $100 which is good news for India. Now China's covid cases are reducing the crude demand as well. Its interesting to see where the crude is headed.
  2. $ is Rs 76
FII AND DII
  1. FII sold for 50000cr yesterday. This included the invesco's zee bulk deal as well. Even then the FII sell figure is high.
  2. DII bought for 1700+cr


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