Trade setup for the day

Now the market is in the consolidation phase. It had rallied from 11100 to 11900 in few weeks. Now the market will be in a distributed phase where the fresh investment may not be coming to the index heavyweights. Every pullback has been bought. From now we may not move as violently as we moved all these days. The Fibonacci retracement shows that we may come to 11650. We are around 200 points from all-time high. 12000 was strong resistance. So don't expect all-time high anytime soon. The finance minister has told that the real estate sector needs some injection. Let's see how the market sees this.


  1. Now will be the time of option sellers. I have short straddle at 30,000 in banknifty.
  2. On the weekly expiry, I have executed a call ration spread
    +5x 12000 ce
    -10x 12100 ce
    -10x 12150 ce
  3. I have also executed the put ratio spread as well
    +5x 11800pe
    -10x 11700pe
    -10x 11650pe
  4. I am planning to short nifty futures today.
  5. The paper trade which was executed day before yesterday
    sell heromoto -> still holding as SL is not hit.
    Buy ultratech -> closed as SL was hit.

  1. The US market were flat.
  2. European markets also closed in flat.
  3. Today the asian markets are also flat. 
  4. Nothing major happening in the world market. 
  5. Today morning the SGX suggests that we may open slightly lower.
  1. Crude is now at $62.34. This is slightly bad for us. But we did have a goo
  2. $ is now 70.69

  1. FII bought for 473cr and DII sold for 1593cr
  2. DII is now booking profit which they had bought when FII were aggressively selling some time back