Trade setup for 15th October



  1. Yesterday was another volatile Wednesday.  Nifty opened with a gap down. It did look like a profit booking day. But then in the second half, the banks came back strongly and Nifty closed in the green. Banknifty recovered almost 700 points from the day's low. Most of the traders stop loss was triggered. Luckily I was able to close some in profit and do correct adjustments for my positions. Today is weekly expiry and it looks like banknifty will cross 24000 again. 
  2. Yesterday, after markets, Infosys declared its results and the result did beat the street estimates. Today IT will lead the market with Infosys being the flag bearer. ADR was up by 4%. So today Infy might gap up with 5%
  3. The interest on interest case has been adjourned to November 2nd. Yesterday banknifty rallied as there was a hope of the verdict and it looks like it has trapped the bulls today. Court has told govt to implement and will review on Nov 2nd.
  4. Nifty has closed in the green for 10 consecutive days. I don't remember when was the last time nifty closed in the green for 10 days. 
  5. China has come out with its CPI, IIP numbers, and the numbers are below expectations.
  6. The Covid vaccine is getting delayed than expected. The good news is that the new case rise is falling.

MY TRADES

  1.  I had done Wipro earning trades and it is in good profit now. 
  2. I also did Infosys earning trade yesterday similar to Wipro and even that is in profit before the end of the day and today Infosys is about to gap up and my profit is set to increase.
  3. Yesterday I had to run for cover when nifty and bannkifty started shooting in the second half. I closed some in profit and carrying some for today.
  4. Today I will be busy in the expiry trades.
INTERNATIONAL MARKET
  1. The US markets ended lower. Now there is some negative news in the air like that vaccine may be delayed, stimulus issue, US economy recovery might be slow. But all these will change overnight with a tweet from Trump. So dont get carried away by these for next 2 months. 
  2. European markets also closed in the red. 
  3. Today morning the Asian markets are in the red. SGX is flat.
CRUDE AND $
  1. Crude is at $43.29
  2. $ is at Rs 73.3

FII AND DII
  1. FII has bought for 800+cr and DII have sold for 1200+cr
EXPIRY TRADE
  1. Nifty has highest OI at 12000ce and 11800pe
  2. Banknifty has highest OI at 24000ce and 23000pe
  3. Nifty has maxpain at 11900 and that of banknifty is at 23700
  4. Nifty might range from 11850 to 12050
  5. Banknifty might range from 24200 to 23500 

Comments

Post a Comment