Trade setup for 22nd September



  1. Sometimes we stick to our views and expect magic to happen which never happens. Learnt a lesson yesterday after losing close to 4lak. I could have closed the trade with very minor loss, but I was adamant and took the risk which didn't work in my favour. 
  2. I very well knew that 11500 and 22000 was very strong support. I thought there would be some recovery in the second half which did not happen. So I closed some danger positions and took the loss.
  3. Coming to markets, we are below the strong support which we had. This is purely global in nature. The second wave of carona might be there. The UK is planning for a second lockdown as cases rise there. In India, we have a huge number of cases which is growing at an alarming rate but still, we are not even thinking of another lockdown. The vaccine is getting delayed as some of the other hindrances is coming. 
  4. There is huge selling in ICICI, Reliance, Airtel, metals. Autos are also in the pressure now. Mid-caps which rallied like a rocket is now the worst-performing index. 
  5. Covid affected companies like PVR are worst hit yesterday.
  6. Yesterday, any minor rally was sold without hesitation. The markets were very weak.

MY TRADES

  1. I did not enter into fresh trades yesterday as I had to close the existing positions yesterday.
  2. Will wait for sometime before I get clarity on the direction to initiate fresh trades.
INTERNATIONAL MARKET
  1. All of a sudden, the world markets have turned from buy on dips to sell on the rally.
  2. The US market was sold heavily yesterday. Now all the money seems to be flowing back to the techs. The Nasdaq ended in a flat zone. The DOW had lost 900 points intraday and ended by losing 500 points.
  3. European markets were the worst hit and the major indices lost more than 3%
  4. Now there is another fear of another lockdown. Not many countries can afford another lockdown. But this fear is enough to angry the bears. 
  5. SGX was up 45 points in the morning and is now at 25 points up. 
FII AND DII
  1. Yesteraday both fii and dii sold for 500+cr. It was surprising that even DII have sold in equal to FII.
  2. I expected DII to support the market on days like yesterday.
CRUDE AND $
  1. Crude is at $41.59
  2. $ is at Rs 73.37
  3. If this fear increases then gold will the favourite place for investors. So keep an eye on gold to see how the capital markets can move.


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