Daily setup for the day 27th may 2019

  1. On Friday, nifty rose 187 points. The post-election rally came along and nifty made an all-time high close.
  2. Another 4 days for the monthly expiry. Now theta decay will be fast in premiums. 
  3. FIIs bought for 2026cr and DII sold for 195 cr
  4. The overall sentiment is positive. But some resistance may be there at 12000 in nifty as it is an expiry week.
  5. ICICI bank rallied and took banknifty 400+ points on Friday.
  6. Next month will be bullish and interesting as we have many events like RBI policy, ministry reshuffling and obviously global market will play out.
  7. On Friday, US markets closed flat and European markets closed in the green of around 0.5+ per cent.
  8. Today morning Asia is mixed. Few indices are down and some are in green.
  9. SGX indicates that we may open in mild red.
  10. Some of the good stocks to add to your kitty are bajaj finance, reliance, Vedanta, HUL for a 2-3 year horizon. Do not enter at once. Wait for dips and enter in phases.
  11. INDIA is definitely in a strong position. No one should even think of shorting now unless something weird happens.
  12. On Friday before market opened, I expected Ashok Leyland to fall due to results. But that did not happen and it rallied upside. So I changed my view and bought call options and also bought 1 lot in futures. Closed the positions in good green. I also mentioned this on my twitter page 
  13. I am in the process of changing my broker. So had to close most of the positions for the transfer. So as of now, my positions are very low. Will take positions once the migration is done which may happen in a few days.