Trade setup for 19th november

Yesterday was a flat day. In the morning the nifty tried to move higher but there was not much follow-through was there. If you see in the above graph, nifty is struggling to get back to the channel. So, I believe that more delay nifty makes to get into the channel, 12000 resistance becomes stronger.

But, banknifty is not looking that weak. but HDFC bank is looking weak. So as long as banknifty is in the channel it can be considered safe. When banknifty also breaks the channel then we may have problems on the downside. But we are in the long term bull run. These dips give you a wonderful opportunity to reenter or enter if you have missed the rally.


  1. No butterfly this week as premiums are not as high as I expected.
  2. Will be executing December short straddle at 11900 in mine and some of my client's accounts.
  3. I will short the market in nifty and banknifty if there is a gap up(I wish).
  1. I don't want to take individual names. The world market is flat at the moment.
  2. Today morning Asia is also flat. HKG is an exception as they have their own domestic problems.
  1. Crude is at 62.29
  2. $ is at 71.84
  1. FII have sold 270cr and DII have bought for 309cr