Trade setup for the 12th dec expiry

  1. Yesterday was a highly volatile day. Markets rose in the morning. Then there was a fall and giving a sense that markets would collapse. But things changed in the last half an hour where markets moved from 11850 to 11920. Nifty recovered almost 80 points from low and banknifty recovered 300 points.
  2. Yesterday FII are net buyers. 
  3. FED has kept the rates on hold and has signalled that there won't be any rate change for the next year as well.

  1. I did not anticipate the last hour move yesterday. I had to close some of the positions which I had taken in the weekly expiry in a minor loss.
  2. Now, most of my trades in weekly are in good shape. 
  3. Today is expiry. Let's see how things span out.
  1. Has the FED changed the game ?? Has the see on rally changed to buy on dips again?? it's a million-dollar question.
  2. The US markets rallied and closed in the green after the FED policy meeting. Nasdaq gained 0.44% and Dow gained almost 0.1%
  3. European markets also gained and the major indices closed from 0.2% to 0.6%
  4. The Asian markets are green today. HKG, Korea, Taiwan are all up by 1%
  5. SGX suggests that we may have a good opening today. 
  1. FII have now bought for 605cr and DII have bought for 239cr
  2. We need to see if this buying will sustain.
  1. Nifty has the highest OI at 12000ce and 11900pe. 
  2. Banknifty has highest OI at 32000 and 31000
  3.  Max pain for nifty is at 11900 and that of banknifty is 31300
  4. Nifty may trade in a range of 11950 to 12050
  5. Banknifty may range from 31000 to 32000