Trade setup for the D-day 23th may 2019

  1. Today is the D-day. Election results will be out. The fate of 500 odd candidates and lakhs of trades will be decided.
  2. The volatility will be very huge as the lead news come in a phased manner.
  3. The best trade today will be no trade. I am not planning to do any trade today. Most of my positions are closed on Tuesday and yesterday. I am carrying a small position for today which should be fine.
  4. India vix jumped 10% yesterday. 
  5. Today, earnings, $, crude, support, resistance, FII data will not matter. It will all be MODIfied by election data.
  6. Any positional trade can be taken after 2:30. 
  7. My expectation is if BJP gets more than 300 then markets will make 5-10% on the upside. 
  8. If BJP gets less than 272 and will come to power with the help of NDA then the market may fall 5-10%
  9. If oppositions get a majority(which is most unlikely)... forget.. no need to consider this case..
  10. If the market falls 5-10% then you can buy shares in a phased manner to build positions for long term.
  11. If the market rises by 5-10% then you can book wonderful profit on your positions.