- Finally, the most exciting month has come to an end. Yesterday we did have a massive mini expiry rally. There was a huge short covering in the banks. There was no particular news that triggered the move. It was pure short covering as banks were oversold. I personally did expect a short covering but definitely did not expect such a violent short-covering.
- There is much bad news around but the markets do not seem to care and the rally is continuing across the globe. The series of bad news is the India-China border escalation, US-China trade wars over Hongkong, now Carona vaccine may not be available till 2021.
- Today SpaceX was supposed to launch a commercial rocket to space but that got cancelled due to bad weather and will happen on Saturday.
MY TRADES
- Yesterday I missed catching the big rally in the banknifty. I bought and sold early for a small profit and then the banknifty rallied 1000 points. But that's OK. Will stick to the game plan and discipline.
- Yesterday I was caught in the big rally. Had to do a lot of adjustments and had to close some in the loss as I did not anticipate such a huge rally.
- I am carrying a lot of positions for today's trade. Lets see how the markets turn today.
- Carrying some trades for today's expiry. Lets see how things span today.
INTERNATIONAL MARKETS
- The US opened low but there was a sharp pull towards the end and the Dow ended in the green of 500 points. The tech stocks were the draggers so Nasdaq was in the red.
- Europe also closed higher.
- Today the Asian markets are in green. HongKong is the only market down due to its political issues. SGX says that we may gap up.
EXPIRY SETUP
- Nifty has highest OI at 9500ce and 9000pe
- Banknifty has highest OI at 19000ce and 18000pe
- Nifty max pain is at 9250 and that of banknifty is at 18400
- Nifty may range from 9300 to 9400
- banknifty may range from 18500 to 19500
FII AND DII
- Yesterday the move was completely by the DII flows.
- FII have sold for 335cr and DII have bought for 2400cr
Comments
Post a Comment