Trade setup for 25th october

Yesterday was a good volatile trading session. BJP was able to retain Maharashtra but will form govt in Haryana by some jugalbandhi. Festival season bought some good news to many sectors. Consumption seems to have improved. Auto sales seems to have been improved. As I was telling, the problem was not so big as people were telling. Yes, there was a slowdown but there was no recession. People over-engineered the yield inversion. When everything seems to be in good shape and in recovering mode we got some bad news as well. First was the whistleblower complains about Infosys and yesterday telcos had some bad news. Yesterday the man of the match was Reliance which was 3% up and Bharti airtel which was down by 10% and then closed with +3%. I thought of shorting airtel futures when it was down 5%, but I did not get the conviction to do that as I was busy in expiry trade.
11700 is major resistance. Let's see if that is broken  decisively

MY TRADES

  1. Yesterday was only on expiry trades. Was able to make around 75 thousand profit.
  2. I had closed most of my position day before yesterday fearing the election results.
  3. Will do research today and will deploy some from today.
  4. I am currently short in bajaj finance futures. I have sold 5 lots. Will add more if things behave the way I want to behave. This is the naked position which I am having. Will hedge in options if things turn.
  5. I am feeling bad that I did not get into ICRTC. I hope if falls and gives me an opportunity.
INTERNATIONAL MARKET
  1. Yesterday the US market closed in green. Nasdaq gained around 1%
  2. European markets also closed in the green. The frontline indices gained more than 0.5%
  3. Today morning the Asian markets are in red. SGX is down by 32 points. 
CRUDE AND $
  1. Crude is now above $61. 
  2. $ is at 71.
FII AND DII DATA
  1. FII sold for 72 cr and DII sold for 738cr.
  2. So it is clear that now DII are selling what they had bought some time back to support the market.
RESULTS
  1. Yesterday Maruti came with earning. It was as estimated.
  2. Today we have tata motors. If things have improved, then I think we can enter Tata motors for long term. 

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