Trade setup for 24th November

Now banknifty is slightly silent compared to nifty. Reliance is now started to move up. But Reliance is still beating around 2000. So still not clear how the stock will move in the coming days given that it has had a wonderful movement in last few months. So this consolidation is a good sign and the more it stays here, the more conviction you will get to go long. 

Bajaj finance is now at its all time high. So now there is no major known news. So there should be some consolidation for some time now. But this stock is a high beta and I suggest to stay away as moves can be very sharp in this.

Trump administration is now starting to do the transition which was inevitable. Now Biden administration is now starting to work and they are picking the officials. Ex fed Janet yelen has been picked by them. 

13000 is a very big resistance. In case we close above that then that will be strong support as well. The OI data shows that 13000 may not be possible this expiry, but you never know given that there is a massive flow of fii money.

One can execute call ratio spread for this expiry

    +1 X 13000ce , -1 X 13100ce, -1 X 13150Ce, -1X 13200ce

I have not done the above trade as I have other trades. I may do these for some of my clients. 


  1. Now I am looking for a shorting opportunity if I get as I feel that there will be a correction in some time. 
  2. I am just waiting for the FII to cool down. The day they cool is when I will initiate my trades. Till then it is just a wait and watch.
  3. For this expiry, my index trades are all fine. I am sitting with a small loss in my stock option trades. Will continue to do some adjustment for some time.
  1. The US markets are not making any major moves as all the events are over for them as well. Now the stimulus if any will give the next leg of the upove which everyone is waiting for.
  2. Europe closed in the red.
  3. Asia is flat, japan is up because it had a holiday yesterday.
  4. SGX is also falt.
  1. Yesterday another 4700cr of buying. There is no stopping for this money.