We are in the last week of the expiry and we have 3 more days as Thursday is a holiday. We are 400 points away for the monthly candle to be green. If this candle is a red then this will be the 4th consecutive month of a red candle which has not happened in a long time. So can we close in a green candle?
If this candle is red then the chances of April candle closing in green is higher.
The banking issue is overrated. Yes, there are definitely issues but there is no need to be scared that there will be a crash like 2008.
Nifty is hovering around 17k. Sometimes it goes +200 from 17k and then it goes below 200 points. On Friday it closed below 17k. If there was a follow through and if nifty had another red candle day then bears would have taken over. Now you can see that SGX is 100 points higher. Now we need to see if this will continue or will we lose the gap.
Nifty has a range of 17200 to 16800. If this range is taken out and with a follow then the trend can continue.
Now there are bidders for the bankrupt silicon valley bank in the US. So, it means that the situation s not as bad as it looks.
Again RIL is close to 2200. If markets have to go higher, then RIL and bank should rally.
Now there is a good news for traders. We have expiry almost everyday.
Tuesday - finnifty
Wednesday - niftymidcap
Thursday - nfty, bnf
Friday - usdinr KHELO INDIA KHELO
The German chancellor has told that there is no problem in the Deutsche bank.
MY TRADES
- The algo closed in the green on Friday but for the month it is still in red.
- Again my positional trades are in red as nifty came below 17k. I may have to do some adjustments if things don't recover from here. Lets see.
- I have not taken any fresh trades.
- The US market closed in green on Friday and today the futures are also in green.
- Today the Asian markets are in green and SGX is up by 100 points.
- FII sold for 1700+cr and DII bought for 2500+cr
- Crude below $75
- USDINR close to 82.5
Comments
Post a Comment