Trade setup for 8th October

  1.  Yesterday was another day of green for the markets. The advace-decline was in favour of declines but still nifty and banknifty managed to be in the green. The major gainer and the nifty driver was Reliance. 
  2. Reliance single-handedly took nifty by 35 points. HDFC bank also shot up which took banknifty higher. Titan was another contributor to the nifty gain. 
  3. Nifty has shot up almost 1000 points in 9 trading sessions. This is too much for nifty to shoot in such a small time frame. Before that it fell 1000 points in 5-6 trading sessions. Markets will be volatile when there is a major event coming. I expect the market to consolidate for some time and probably this series. 
  4. TCS came with its results yesterday and the results seem to be very good and has beaten all expectations. The buyback of the shares is at Rs 3000 per share. They are planning to buy shares worth $2.2 billion. So today IT will all be in focus. TCS, infy will be top traded 


  1. I will be doing a below trade in nifty today in the monthly 
    1. -1 X nifty 11700ce
    2. -1 X nifty 11700pe
    3. +1 X nifty 12100ce
    4. +1 X nifty 11300pe
  2. Today I will be busy in expiry trade
  3. I may do a trade in TCS today. It looks like it will open at 3000. Lets see. 

  1. The US markets were higher. Dow gained more than 500 points and the futures are also trading in the green. Nasdaq gained 200points
  2. European markets also were flat. 
  3. Today morning the Asian markets are flat. SGX suggests a flat opening, but we have TCS which will be shooting. Today that might be a major contributor to the nifty.
  1. Again FII have bought yesterday in the cash market. They bought for 1000cr and DII sold for 1100cr
  1. $ is at Rs 73.33
  2. Crude is at $42.11
  1. Nifty has highest OI at 11600pe and 11800ce
  2. Banknifty has highest OI at 23000ce and 22500 pe
  3. Nifty maxpain is at 11700 and that of bankifty is 22800
  4. Nifty may range from11700 to 11800
  5. Bankifty may range from 22500 to 23500.