Trade setup for the expiry day

  1. Happy new year to all traders. I was not there in town so could not update the blog for the last 2 days and sorry for the belated wishes.
  2. Coming to markets, now the markets seem to be cooling off. From buy on dips, it is now turning to be a rise on a rally. Still, we have not got the confirmation that the trend has reversed.
  3. This is the new year weak and it is usually low in volumes. So we need to wait for some more time.
  4. The GST collection is again above 1lk cr for 2 consecutive months.
  5. The Auto sales for December is above estimation for all autos, especially for Maruti and m&m.
  1. I was away from markets. I was just watching markets in mobile. So no fresh trades were added.
  2. On Friday, I have started my intraday trading with my account. Let's see how it goes. I have refined the indicators and have backtested. I hope it works.
  3. IRCTC is one of the PSU which I am eyeing to buy to my portfolio. 
  1. Most of the markets were closed yesterday as it was new year. 
  2. Day before Yesterday the US market closed in green. It gained around 0.3%. Trump has told that he will be signing 2nd phase of trade talks with China in Beijing. 
  3. European markets closed in the red.
  4. Today morning the Asian markets are in green.SGX suggests that we will open in green.
  1. $ is now at 71.22. The movement of $ will determine the market direction.
  2. Brent is now trading at $66.28
  1. FII and DII are still in hangover. The volumes are low. We need to wait for some more days for them to actively participate.
  2. Yesterday FII sold for 58 cr and DII bought for 208cr
  1. Today is weekly expiry for nifty and banknifty
  2. Nifty has a highest OI at 12300ce and 12100pe
  3. Banknifty has highest OI at 32500ce and 32000pe.
  4. Nifty maxpain is at 12200 and banknifty maxpain is at 32200.
  5. Nifty might range from 12250 to 12100 and banknifty might range from 32500 to 32000.