Trade setup for 10th December



 The stock market rally doesn't seem to stop. Yesterday markets made another all-time high by breaking 13500. This has been a massive uptrend rally. Will the rally continue or will the FII put a brake and start packing for their Christmas vacation?? This is a billion $ question. 

Yesterday, most of the sectors rallied. Banks, IT, Reliance contributed to the rally. There was some sharp selling in Nasdaq. So the IT in India can be under stress today. 

FII is not showing any signs of a slowdown. They have already pumped more than 20000cr in this month itself. Every day they are pumping close to 3000cr. 

The mutual fund outflow has increased. Maybe people are booking profits or they have decided to take the driver seat themselves.

Canada has officially approved the Pfizer vaccine in Canada. Despite that, the US markets closed in the red. The day is not far when the US will approve a vaccine. So, probably there might be another leg in the rally. 

The bharat-biotech vaccine was not approved in India and they have asked for some more data.

The US markets closed in red as some uncertainty in the stimulus. They are ready for $998 billion, but markets are expecting $2 trillion.

The Asian markets fell in the morning after US fell. Now they are slightly recovering. SGX is suggesting a gap down of close to 100 points. 

Nifty has closed in the green for 7 days. So now the risk reward is in favour of shorts than longs.


MY TRADES

  1. Day before yesterday I had sold some futures. I did not average yesterday. I am in some deep loss in this trade. Today I may add some hedge for this as my loss will be reduced if nifty falls 100 points.
  2. Today is expiry and I will be busy in expiry trades.
  3. Today might be a volatile expiry as there was not much expected volatility.
INTERNATIONAL MARKET
  1. US ended in red. Nasdaq lost around 2%
  2. Europe closed in flat to negative. 
  3. Today morning the Asian markets opened in red but there is some recovery.
FII and DII
  1. Again same story. FII bought for 3500 cr and DII sold for 2500cr. Now this figures are not exciting anymore.
EXPIRY SETUP
  1. Nifty has highest OI at 13600ce and 13500pe
  2. Banknify has highest OI at 31000ce and 30000pe
  3. Nifty maxpain is at 13450 and that of banknifty is at 30500
  4. nifty might trade in a range of 13450 to 13550
  5. banknifty may range from 30k to 31k 

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