Trade setup for the day

Yesterday was a bad expiry for me. I had a fat finger error trade. I had a different strike in mind but while executing I executed a different strike and I realised this after half an hour. So I had to pay for that mistake. But that is fine. I did not lose much as I was busy in countering that trade. The overall loss was very less. A lesson learnt at a cost.
Coming to the market, we are in the last week of Jan expiry. Yesterday was a huge short covering day. The markets gained almost 65 points and banknifty gained 300 odd points. We need to see if the move was due to weekly expiry or has the pre-budget rally started. If 12200 is crossed strongly then I will consider it as a strong pull back. Lets see if that happnes today. Now we also have Corona fears. Yesterday there were some cases in Singapore as well. Yesterday SGX fell 65 points and now it has recovered almost all that it fell.
The nifty has taken a strong support at 50DMA. So that can be considered as strong support. If that is broken then you can expect more downfall.

MY TRADES

  1. Yesterday I was busy in expiry trade. So did not get much time and mood to concentrate on positional trade.
  2. I am planning to do a call spread in nifty and banknifty.
  3. From Monday I will be doing intraday trades in stock futures. My vacation had put that on hold. 
INTERNATIONAL MARKET
  1. Yesterday the US markets closed in the flat zone. Nasdaq closed in slight green and dow closed in slight red. 
  2. European markets closed in the red. The major indices lost more than half a percent.
  3. Today morning the Asian markets are in flat to negative. SGX is down 20 points. Lets see if 12200 will be crossed.
FII AND DII DATA
  1. Yesterday the FII were in full swing. They bought 1352cr in the cash market.
  2. DII sold for 984cr.
CRUDE AND $
  1. The crude is falling which is very good for India. The Corona fears is escalating. The crude is now at 62. 
  2. $ is now at Rs 71.26
STOCK SPECIFIC
  1. Again Infy is in news due to its whistleblower.
  2. Tomo we have ICICI results. Need to see if that provides the trigger.
  3. The falling crude is helping crude related stocks to rallly.

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