Daily trade setup for 17th may

  1. Yesterday was a fantastic day for the bulls. This level of upmove was much needed to scare the bears.
  2. Nifty gained 100 points and banknifty gained 238 points.
  3. I expected a rebound at 11200 but the rebound came around 11100. That is ok, you can never get the exact bottom or high.
  4. My entire portfolio is in good green as of now.
  5. Yesterday's expiry trade was also good. Made 40 thousand intraday and around 75 in positional.
  6. The thing that should be seen is the dollar. It closed above 70 yesterday. This might put pharma and IT in pressure.
  7. Crude is near 73$ which is also bad for India. 
  8. Yesterday sun pharma fell 6% and closed in green. It had fallen 20% a few days back when its results were bad. These are the times when we should enter where the risk-reward is good. I need more confirmation to enter. Will definitely update blog, facebook and twitter if I enter.
  9. Yesterday FII sold 953 cr and DII bought for 948 cr.
  10. US market closed in the green of 1% and European markets also closed in the green of 1.5%
  11. Today Asia is mixed. SGX is flat. From now only election will take over Indian markets. Global factors, earnings, crude, the dollar will not play a major role in market direction. It will just be an icing on the cake.
  12. Yes bank fell again. It is close to my ATM. I hope it bounces from here. 
  13. Next week is very very crucial. Sunday evening we get exit polls and Monday there will be huge volatility and the finals will be on Thursday.
  14. Bajaj auto, reddy labs, corporation bank, UPL coming out with results today.