Expiry trade setup for 9th april

  1. Yesterday was the most volatile day for trading. At open nifty fell, then shot up 450 points and then fell 450 points. In banknifty there was an intraday movement of 3000 points. At open it fell and went to 18500. From there it went up to 20000 then it fell to 19000. Very difficult to trade in these markets. It is better to stay away from these markets. That's why my positions are low in these highly volatile markets.
  2. Corona cases cross 15 lakh and in India it is close to 6000. The lockdown may continue for more days. 
  3. SC has asked covid tests to be conducted free of cost.
  4. Crude is higher so Reliance will be in good shape today.
  5. Yesterday the financials have started a turnaround but there was a fall in the second half. Let's see if they continue to move higher. The pharma seems to have taken the front seat. I had bought Reddy labs at 2850. I sold some at 3300. I now have some which I am planning to carry for some more time.
  6. I am buying stocks 
  7. Yesterday the DOW closed higher and today the Asian markets are higher.
  8. SGX telling that we might open 130 higher.
  9. 9000 is a very strong resistance. Start accumulating stocks as we close above 9000 for the long term. 
  10. Vix is still very high. 
  11. For this expiry trade, the range is very broad. In this week where we had only 4 days the banknifty has moved 3000 points. Yesterday there was a intraday movement of 3000 points. So no point in coming out with a range.
  12. Same with nifty. 
  13. Finally, FII have started to buy. They have bought for 2 days now. Yesterday they bought for 1943 cr and DII sold for 1757cr.