Trade setup for 11th Dec

  1. Yesterday was a bad day and now the bears seem to be in control of the market. We have given up 12000, 11900. Now all analysts are targetting 11500. Suddenly from 13000, they changed their colour to 11500.
  2. Now we have fears of GST rates which may be increased. 
  3. FMCG, Autos might be in trouble if this happens. So ITC, HUL are all down. 
  4. There is also fear that cess on cigarettes will increase in this budget. The probability of increasing the cess is more likely as there was no cess increase from last 2 years.
  5. Just a few days back it was a buy on a dip. Now suddenly it has turned to be a sell on rally market.
  6. I seriously don't know if trade talks are happening or not happening. Trump is more volatile than our banknifty. One day he says talks are progressing and suddenly he will say that no talks. He is doing this continuously for more than a week now.
  7. YesBank is the ban period. There is lot of negotiation by various investors to invest in the bank and the stock is dancing according to the news. Rakesh jhunjhunwala decided not to invest. 
  1. I had executed the call ratio spread in ITC which is performing well. 
  2. I sold ITC futures in feb series as I am expecting a fall there. Will add other legs if it goes against. 
  3.  I took some butterfly positions for this week in Nifty. I don't think banknifty butterfly will work for this week. Will decide that today.
  1. The world is in a flat territory. 
  2. The US closed flat.
  3. European markets closed flat.
  4. Today morning the Asia is also in flat zone. SGX is also flat now.
  1. Crude is now at 63.91
  2. $ is now at 70.91
  1. FII sold for 366cr and DII bought for 338cr
  2. There is no huge selling by FII. Lets see if they change their view and things move higher.