On Friday, FII made the highest pumping for the December month. There was an intraday dip of close to 160 points in the nifty. I thought that the reversal might have triggered, but there were aggressive buying and markets regained more than half of the losses and still managed to close above 13500.
On Saturday, the US FDA has approved the emergency use of the Pfizer vaccine. So now this good news will be there around for some time. Most of the world markets are trading at an all-time high. Our bank nifty is still not at that point, so there is still room for a rally in this index.
Today we have burger king debut at the markets. I have got 1 lot allotted. I hope it open with a premium.
Now there is a plan which is being worked out for transporting the vaccine to all the places and providing vaccine to the people. So it looks like the covid fear is over and there may not be a 2nd, 3rd etc waves.
The dow futures are in the green. International markets are in the green and SGX suggests a flat opening. Looks like there is not much down from here. 13000 should be a strong support and 13700 may be a strong resistance.
FII have pumped 4000+cr on fridday. The rally is most likely to continue till this pumping seems to happen. So don't expect retracement till FII cool.
MY TRADES
- I am carrying my butterfly. I am expecting consolidation for some time so my volume in this stragy is more.
- From now, for every fall, I will create a put ratio spread and for every rise I will create a caa ratio spread.
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