Trade setup for 22nd october


This week is a massive week. We will have the market going in all the places. We have much good news and an equal amount of bad news.
  1. Reliance came up with its numbers on Friday. The result was fantastic and was above expectation. All verticals like retail, telecom, oil business have performed this quarter.
  2. HDFC Bank came with its result and even this was fantastic. They came with 28% growth and the market was expecting 22%
  3. The exit polls of Haryana and Maharashtra have given a major thumbs up for the BJP. 
  4. We have the result of the poll this Thursday.
  5.  Today we have results of many companies like Asian paints, axis bank, kotak mahindra.
  6. Over the weekend we have had some firing in Pakistan occupied Kashmir. This seems to have gone off as not much intensity is seen in this news. I hope it doesn't escalate further.
  7. There was a major accusation by an anonymous whistleblower on Infosys. They claimed that Infosys is cooking up books to show profits. This may be a major impact as the street doesn't like these kinds of news.
  8. Infosys ADR fell 12% yesterday after that news. HDFC bank ADR grew by 2% after the result. So these 2 might play a critical role in today's play.
  9. Brexit is playing some game in European markets. The GBP is at a 5 year high.
  10. Trump says that China is ready for some trade talks and if things go good then it may slash December tariffs.
  11. We have rallied for the last 6 days consecutively. There might be some consolidation
INTERNATIONAL MARKET
  1. We had a trading holiday yesterday.
  2. The US markets were good yesterday when Trump showed some relief on the trade talks.
  3. The US markets gained almost 1% in yesterday's trade.
  4. European markets also closed in the green with DAX gaining 1% 
  5. Today morning the Asian markets flat and SGX suggest that we may open in the red. 
CRUDE AND $
  1. $ is ar 71.14
  2. Crude is at 58.93. We are in a good position as long as we are under 60. So the crude and $ are in favour of India.
FII AND DII
  1. On friday FII bought for 36 cr and DII bought for 586cr
  2. FII buying tapers around 11500 and they boost when it falls back to 11000. 

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