protrader1969

There is only one BIG problem

Short
NSE:NIFTY   Nifty 50 Index
Nifty closed with higher high and higher low figures as compared to yesterday and closed above mid line of Bollinger band- good sign, sign of strength. BankNifty too rose buoyed by good RBI monetary policy with higher high but lower low. FIIs too bought today in all segments- Equity, Index and stock futures and so did DIIs- though the volume is not much to talk about. There is good Build up on Put side too as far as Nifty’s option chain is considered. Brent crude rate too decreased. Only, dollar appreciated by huge amount ( more than 1% which is not normal). So all is looking good you will say.
BUT there is one big PROBLEM- Record fresh corona cases in country (> 1,15,000) in last 24 hours; Record corona cases in Delhi too (> 5,500). Full lockdown in lot of districts, night curfews in some and resulting problems which we saw last year. FIIs scoot the scene if there is slightest sign of trouble so in my opinion, do not long tomorrow on any indices. You may short, but there are no clean levels so the decision to short must be taken in live market depending on moves shown by indices.

Comments

I get what you said, but what about the vaccination drive that's been going on such a big scale now, I mean almost 30lacs people daily!?
Reply
protrader1969 falakshayaan16
@falakshayaan16, Looking at size of Indian population of 130 Crs, we have vaccinated just above 8 crs and too more than 95% with only one dose ( I lost a close relative even after first dose was adminitered). So it will take a long time to achieve what Israel did- reduced corona occurences just by vaccinating their residents fast- their advantage was miniscule population as compared to india.
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out