Trade setup for 11th nov

We got a judgement on one of the crucial/ important case in India. Finally, a 5 bench supreme court decided that Ayodhya belongs to the Ram temple and 5-acre land will be given to the Muslims. Friday was a crucial day of trading. As I had mentioned before, 12000 is a very strong resistance. The reason why I was not short is that I thought nifty would make another lifetime high and then correct. But, that seems to be not happening. Anyway, I do have positions in the options market. 12000 has been hit 3 times and nifty has failed to break that decisively. I do not think that we will make an all-time high at some time. I am expecting some pull-back and consolidation in the coming months.
There may be some bad news which may be stopping nifty to move higher.

  1. Moodi downgrading India. (Stocks or Indices usually move higher when Moodi downgrades. I have been making this observation for a long time now. I hope Nifty resumes in rally soon and prove the same again)
  2. BJP not able to form government in Maharashtra.
  3. Ayodhya verdict which was sensitive and there was a fear that it could cause uncertainty. But nothing happened after the verdict. The police/ army made sure that peace and harmony were prevailing.
MY TRADES
  1. I am modifying/ improving the algo which gives screens for the intraday trade. Let's see how it works.
  2. I am planning to buy puts in the indices. To fund that I am selling calls in December month. There might be a small correction. I just want to make use of that fall. Will buy quality stocks when the fall seems to be over. 
  3. My short term view is bearish but for long term I am bullish.
INTERNATIONAL MARKET
  1. On Friday, the US markets closed in the green. Nasdaq gained 0.5% and DJI closed almost flat.
  2. European markets, however, closed in the red.
  3. Today morning the Asian markets are in the red. Hong kong has lost more than a percent as they have their domestic riots.
  4. SGX suggests that we may open in mild red. 
FII AND DII DATA
  1. FII have bought for 932cr and DII sold for 584cr.
  2. But in option market, the FII seems to be bearish. 
CRUDE AND $
  1. $ is at 71.29 
  2. Crude is at $62.10


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