Expiry trade setup for 29th October



 This week has been very volatile and it has been very difficult to decide the trend. From last Wednesday to yesterday, the nifty has closed in green and red on every alternate days. The movement has been more than 100 for most of the days. Suddenly now there is a huge number of negative news. The covid cases are rising in the US and the Europe regions. Germany, France, Poland etc have decided for a temporary lockdown. So this caused panic in the markets and all the global markets fell. Dow lost close to 900 points yesterday and this has been the highest since June. 

There were many results which came yesterday but now Carona and lockdown seems to have taken over and this good earning may not make a major impact.

Now anyone can buy land in J&K. This is a massive achievement by the Indian govt. I am not a fan of real estate but I would definitely suggest investors to look for any interesting property in this state.

CBOE vix is now at 40 now. During peak covid it was 80. So it is half way there.

Today is the monthly expiry of the October series and it is obvious that it will be volatile. Lets see if nifty closes in green and maintain the trend of alternate green and red. 

Now the markets are at the lower range. If it has to recover then that should happen at this level. Otherwise there can be more fall. 

MY TRADES

  1. My nifty futures which I had sold is in wonderful profit. I will close them today and take a fresh call on Monday. I am still bearish in my view but I just want to book some profit.
  2. My Infosys and Wipro earning trade did work well this quarter. I closed wipro trade yesterday. Will be closing Infy trade today. 
  3. Yesterday when the market fell, I did execute some short stangle. My volumes are low as I want to be away till US election.
INTERNATIONAL MARKET 

  1. The covid cases have scared the bulls and the bears were in complete grip yesterday. Dow fell 900 points and nasdaq fell 400 points.
  2. Europe was the worst hit as some countries have decided for another lockdown. The major indices lost more than 3%
  3. Today morning the Asian markets are in the red. SGX suggests a fall of 60 points. 
CRUDE AND $
  1. $ is at Rs73.87
  2. Crude has fallen by 5% yesterday. This is a huge fall for a single day. Again it is back to below $40. Inventories are getting pilled up and now lockdown will definitely reduce the consumption.
FII AND DII
  1. FII has finally sold for 1130cr and DII have bought for 1cr. Yes just 1cr. !!!
EXPIRY SETUP
  1. The sentiment seems to be weak. I have a feeling that we may close in the green. But I wont risk much.
  2. The US futures are in green. 
  3. Nifty has the highest OI at 11900ce to 11500pe
  4. Banknifty has the highest OI at 25000ce and 24000pe
  5. Nifty may range from 11600 to 11800
  6. Banknifty may range from 23500 to 25000

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