Trade setup for 23rd October

Yesterday was a day of consolidation. Markets did move for 6 long days and fell yesterday. However banknifty provided good support. ICICI and HDFC gained 3% and 1% respectively. The major fall was given by Infosys. The powered by intellect and driven by value stock saw a huge fall after a whistleblower made allegations of some wrongdoing. In November, huge OI was built up in 740 puts. Maybe the whistleblower bought huge puts before declaring the news. If that is true, then he would have minted money yesterday. I am pretty sure that he would have also traded in infy ADR. Whatever it is,  50000cr of investors money has been washed out in 1 day. 
Axis bank also came with fantastic results. Let's see if banknifty will go higher today. Tomorrow is election results day. So things might be volatile.


  1. I am doing some small quantity intraday scalping trade. The outcome is quite good. Will try to share some trade today.
  2. Will be closing some profitable positions today as tomorrow is election results and I do not want to take the risk. 
  3. I may not do expiry trade tomorrow as well.
  1. Now brexit fears come back as there might be a delay in the brexit.
  2. Yesterday the US markets closed in the Red. Nasdaq lost 0.72%.
  3. European markets ended flat in yesterday's trade.
  4. Today the asian markets are also flat. SGX also suggest that we may open in flat territory.
  1. Yesterday both FII and DII were sellers in the cash market. All thanks to Infosys. FII sold 557cr and DII sold 985cr
  1. Yesterday Axis came with wonderful results. Lets see if banknifty can provide support today as well.
  2. Today we have bajajauto, biocon,hcl, hero coming with numbers today.