Trade setup for 19th November



 Yesterday Pfizer tells that their vaccine is now 95%. But this did not woo the markets and yesterday there was no major reaction from the markets. Now it has become daily news now as every day one or the pharma company is telling that their vaccine is effective. So there was no reaction from the US markets. Now there is a mild fear of virus rise.

Coming to Indian markets, looks like there is no stopping to FII funds and the money is going to the banks. Yesterday banknifty shot up another 500 points. Not only banks, there was a good surge in Autos as well like tata motors, m&m. It seems that there is no bad news and now everything seems to be good. 

Yesterday, SGX crossed 13000 and from there it has fallen sharply. So 13000 is a very strong resistance. Now RSI of nifty and banknifty are at 80. So buying now will not be a good idea. The markets ay consolidate for some time and there might be a small correction which is needed for a  healthy bull market.

Today is expiry and we may trade lower as per SGX. It will be interesting if today is the beginning of a correction or will the dips be bought like all these days. If 13000 is crossed and 30k in banknifty then I have no idea where to put the resistance. 

MY TRADES

  1. Yesterday I traded in futures where I had shorted the nifty and then covered it for a small profit. I had even told this trade in twitter and facebook.
  2. Today is expiry and looks like all my trades are in good shape for the week.
  3. Today is expiry and I will be busy in my expiry trades.
INTERNATIONAL MARKETs
  1. Now there is some consolidation in the world market. The US markets closed in the red.
  2. European markets closed in the green.
  3. Today the Asian markets are in the red. SGX suggests a gap down of 100 points.
FII AND DII
  1. FII again bought for 3000cr and DII sold for 2700cr. 
  2. In this month alone they have put 38000cr
EXPIRY SETUP
  1. Nifty has the highest OI at 13000ce and 12800pe.
  2. Banknifty has the highest OI at 30000ce and 29000pe
  3. Nifty has a maxpain at 12900 and that of banknifty is at 29400
  4. Nifty might range from 12800 to 12950 
  5. Banknifty might range from 29k to 30k

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