Trade setup for 24th September

Yesterday was another volatile Wednesday. The market gapped up and before we could think that the worst was over, it started falling. Nifty fell 250 points and banknifty fell 500 points. Then there was a sudden recovery at 2:30 and nifty and banknifty recovered all its loss and ended in the flat zone. Luckily I did not enter any intraday trades. 

Now Sapoorji palonji has decided to part away with tata sons. They have investments in TCS, Tata motors. So now tata sons will have to dilute their stake in these to pay them. So there was a fall in TCS yesterday. 

There is a fresh investment in Reliance retail now. KKR has decided to invest. Now there is a rumour that all those who invested in reliance jio will now start investing in reliance retail.

Now it is a clear sell on rally. $ index is now above 94.

Nifty was at 11000 in sept 2018, 2019 and 2020. Who told there is volatility??


  1. Now I am just closing my previous trades with SL. Markets are getting very volatile. It's very difficult to judge the direction. Its better to stay away than experiment till it settles.
  2. I have added 11000 straddle in dec month as I averaged my 11500 straddle.
  3. Today is expiry and I will be busy in the expiry trades. My volum will be less as I am not comfortable in this volatile environment.
  1. US fell badly in the second half. Dow fell 500 points and nasdaq fell 300 points. Now they are at the 200 DMA.
  2. Eupore told that they will implement stricter rules to curb covid.
  3. The European markets ended in the green.
  4. Today morning the Asian markets are in dark red. SGX suggests a gap down of 100 points.
  1. FII have sold for 4000cr and DII have bought for 1600cr.
  2. In last 2 days they have sold for 6000cr which is too much. They do not sell in this intensity if there is no such problem.
CRUDE and $
  1. Crude is at $41.47
  2. $ is at Rs 73.57
  1. Nifty has highest OI at 11000pe and 11200ce. We might break 11000 at open itself. Lets see
  2. Banknifty has highest OI at 22000ce and 20500pe
  3. Nifty has a maxpain at 11200 and baknity has at 21400. This will change immediately at open. 
  4. Nifty might range from 10900 to 11100
  5. banknifty might range from 20400 to 21000