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Daily trade setup for 21st may

- Yesterday was a wonderful short covering rally. The exit polls laid the foundation for the rally.
- Highest 1 day gain for a long time. Highest single gain day in banknifty.
- Nifty rallied 421 points and banknifty 1309 points. VIX, as expected, has fallen to 23.
- Reliance, Yes bank where huge shorts were created started with a bang and continued.
- It was obvious that if BJP led govt then Reliance, adani group stocks would rally. It is a no brainer.
- One more important to note that Bitcoin is gaining momentum gradually. It surged 50% in the last one month. I am planning to buy some as a long term investment plan.
- It is only our market which is rallying because of domestic event. Global markets are down.
- Nasdaq down 1.5% yesterday. Europe was down 1.5% yesterday.
- Today Asia is also down. SGX is 20 points up.
- As we had a super rally yesterday, I expect things to cool down little today. We may be in a flat terrain on the positive side. Nifty may be from +30 to +50 points.
- $ now at 69.7. It fell close to 0.5 yesterday.
- Trade war between US and China escalates again.
- Yesterday FII bought 1734cr and DII sold 542cr. After a long time, FII has now turned buyers. Thanks to exit polls.
- Yesterday tata motors results were out. Today Bosch, Tech Mahindra are coming with earnings.
- This week results, $, FII, none of these matters. It will be just MODI MODI and MODI.
- My positions are all in green. Now the uptrend looks intact. We may cross 12k very soon.
- So my positions are now more inclined to the upside.
- Saying that !! exit polls have been proved wrong many times. So make sure your system is ready for surprises.
- Yesterday I bought 3 lots of bajajfinance futures. Expecting it to make good move in coming days.
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