Trade setup for 9th dec


  1. On Friday, nifty fell by 96 points and banknifty fell by 370 points.
  2. Now the downfall is slightly more. The GDP data is now getting identified by the market. Maybe the market expected some immediate reforms by the government but that did not come so now markets. Maybe the RBI cut would have brought some relief but even that did not happen, so now markets have broken the 12000 which was the support. 
  3. FII are also selling in huge quantities now.
  4. I believe that we are still in a bull market and this correction should be used for entering if you missed the previous rally. I will keep a wide stop loss of 11600. For short term, it might be weak and we may fall a little more. 
  5. The rise in tariffs in the telecom may take reliance higher. 
  6. The karvy case is bringing down the bajaj twins. I will be happy as I can enter and accumulate more at lower levels.
  7. Yes bank was down by 10% on Friday as it is now in FNO ban. I know a trader who is a technical analyst and he bought 1000 shares at 70 with a target of 100. Now it is at 55. These scam-related stocks tend to behave like this. I prefer to stay away from all these. I prefer to miss the opportunity than repent later.


MY TRADES

  1.  I have executed a call ratio spread in nifty and banknifty
    1.  + 1  nifty 11300 ce
    2.  - 1 nifty 11400 ce
    3.  - 1 nifty 11500 ce 
    4.  - 3 nifty 11600 ce
  2. In banknifty 
    1.  + 1 banknifty 32000 ce
    2.  - 1 banknifty 32300 ce
    3.  -3 banknifty 32500 ce
    4.  -1 banknifty 32400 ce
INTERNATIONAL MARKET
  1. Some say that the US is near to a deal with China. Some say that US is not having a deal with China. Not sure what is happening there.
  2. Because of this, the US markets are up by a per cent one day and then down by a per cent another day.
  3. On Friday, the US markets gained and closed with a percent gain.
  4. The European markets also followed the US markets and closed in the green. They also gained close to 1%
CRUDE AND $
  1. Crude is at 64.17
  2. $ is at 71.19
FII AND DII DATA
  1. On Friday, FII sold for 867cr and DII bought for 200cr.
  2. The FII selling is now growing. 

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