Trade setup for 6th Nov

 Yesterday was a steady expiry. Nifty gapped up and made sure to stay there for the rest of the day. Within 1 hr I realised that the range for the day would be small and I was able to take some extra risks. I had to take some risks as some of my positional trades were also in danger. 

Our markets are just soaring higher and higher. Just a week back it was a sell on the rally and now it looks like it is a buy on dips market. Now maybe the time for some consolidation. The US results are not out yet. It may be out in this weekend and there might be some volatility. It looks like Biden will get the keys to the White house. 

Don't even think of shorting. Markets are in full josh and we may make an all-time high by this month. We are just another 300 points from that mark. We have Diwali coming up which will boost the sentient. The world markets have recovered most of the covid fall. So I don't see any reason why we should not.

WhatsApp is now into the payment. So very soon we can see WhatsApp wallets. So the market is going to expand exponentially as WhatsApp users in India is very huge.

 This earning season has been fantastic. I believe that the results are not fantastic, but our expectation was low and even slight good performance is getting highlighted.

Reliance retail got a fresh cheque fro Saudi for 9000 odd cr. 


  1. I will still wait for the US election verdict before taking any major trades. I was totally wrong in my view. I thought markets would fall after the US election verdict, but I was wrong. Now I am ultra bullish and believe that we will make all time high this month.
  2. I will be using any dips to buy to the market.
  1. The US markets are in a wonderful rally especially the tech stocks. Dow jumped 500 points.
  2. European markets also gained and closed in the green.
  3. Today morning the Asian markets are in the slight red. Even the US futures is in red. There might be some consolidation today. 
  4. SGX shows flat to negative opening.
  1. FII are in buying spree. May be the MSCI restructuring has boosted them to enter in huge scale.
  2. YEsterday they bought for 5300cr and DII sold for 2200cr.