Trade setup for 20th nov

Again I was wrong. I was mildly bearish but markets proved me wrong yesterday. Markets opened higher in the morning. There was a small dip in between but the last hour rally helped market to close the market at the high of the day.
May be we may close above all time high this expiry based on the way things are moving. Reliance GDR is up by 6% yesterday.
Yesterday nifty was up by 50 points and banknifty was up by 250 points. The rally is not looking to stop. But I still consider 12000 as a strong resistance for this expiry. I will get aggressively bullish if 12000 is broken.  Crude fell drastically yesterday. Trump has again threatened to raise tariffs. So Asia is now down.


  1. On opening I had to change my view and I executed a call spread with a  wide range.
    1. buy 12000 x 1
    2. Sell 12300 x 5
    3. Sell 12400 x 
  2. In futures, I have bought few lots of nifty and banknifty.
  3. I added some stocks to my reliance portfolio in cash. Now 30% of my portfolio is reliance and 20% is bajaj finance. 
  1. The US markets closed in positive but mild positive.
  2. European markets were flat. 
  3. Today morning the Asian markets are in red, but they are recovering from the lows.
  4. SGX which was 40 points down is now just 10 points down.
  1. FII have again sold for 952 cr and DII have bought for 262cr. I wonder who bought then to take markets higher ???
  2. FII are selling and market is trending higher. Imagine when they start buying. 
CRUDE and $
  1. Crude is now at 60.94. This is good for Indian market. 
  2. $ is at 71.70