Trade setup for the 19th Dec

  1. Yesterday was another wonderful day for the bulls. Nifty shot up 56 points to close and banknifty rose 104 points. I feel that we have risen a lot in a short span of time. The fiscal is not supporting the movement.
  2. But as of now, the trend is clear and markets are expanding. 
  3. Autos, pharma, metals are taking the market higher.
  4. GST council meet has decided not to hike the GST rates which were as expected. But they have decided to levy 28% GST on the lottery all over India.
  5. Tata sons had a setback yesterday when the NCLAT decided that Cyrus Mistry should be the chairman and Chandrashekeran appointment was illegal.
  6. Tatamotor DVR is down 3% after the Mistry news.
  7. In the USA, Donald Trump has been impeached by the house by a majority for abuse of power.  
  1. I feel that the market has moved a lot in a short span of time. So I shorted banknifty. Initially, I was in good profit. But later in the second half, markets recovered and I am now in a small loss. I will be carrying this to expiry. Let's see, if markets fall. I never kept any stop loss. Since the quantity is small, I don't need to bother much. 
  2. I had sold ITC futures some time back and that is working well in my favour. Yesterday I added more to that. Will carry that till budget if it behaves the way I want it. 
  1. $ is now at Rs 70.97
  2. Crude is at $66.20
  1. FII's were net buyers yesterday in the cash market. They bought for 1836cr and DII have sold for 1267cr
  1. Nifty has the highest OI at 12200ce and 12100pe. 
  2. Banknifty has the highest OI at 32500ce and 32000pe
  3. Nifty has a maxpain at 12200 and banknifty has a maxpain at 32200
  4. Today nifty may range from 12100 to 12250
  5. Banknifty may range from 32500 to 32000