Trade setup for the day

  1. Yesterday was a superb comeback day for the market. On Feb 1st, the budget was considered as the worst budget as none of the expectation was met. In 2 days, everyone seems to have forgotten budget, Corona and nifty recovered almost the entire fall which it had. 
  2. Yesterday I said that we may recover and may cross 12000 in this expiry but nifty almost did it in 1 day. 
  3. Now the Corona fears seem to be slightly low.
  4. Yesterday there was Trump's state of the union address. These kind of address are common as they are in the election year. 
  5. Tomorrow we have RBI policy. So the further movement in stock market may depend on the outcome of that. 
  6. Economists feel that there could be a rate cut as Corona fears have had a hit on the economy. I personally feel that RBI may not cut. 
  7. FII selling was not huge on the budget day. So that was a major indicator for me that the markets may not fall more.


  1. My nifty futures which I had bought is in good profit. 
  2. I bought TCS futures yesterday. Will carry them for some days.
  3. Will be closing some of the weekly positions today as I do not want to carry them tomorrow for RBI policy.
  4. Tomorrow my expiry trade volume will also be low as its RBI policy day and anything can happen.
  1. The US markets closed higher yesterday. Nasdaq gained 2% and dow gained around 1.5%. Suddenly auto stocks are gaining in the US markets. Tesla being the flag bearer.
  2. European markets also closed in the green. The frontline indices gained more than 1.5%
  3. The Asian markets are also in the green. China, Japan all are recovering. So the Corona may not have a serious impact as the world anticipated.
  1. Brent is at $54.54. This is a huge positive for us. We may be the major benefit with the crude fall.
  2. $ is Rs 71.25. Anything above 71 is good for the IT.
  1. The FII was not selling from the budget. Yesterday they fought for 366cr and DII bought for 600cr.
  2. If this continues then we may touch all-time high soon. May be in march or April.