Trade setup for 5th Feb



Markets are in the green for 6 consecutive days.  The same model worked.  Buy on every dup. Looks like there is no stop for the markets. Every dip is being bought without fail. Any minor dip is quickly taken. Even yesterday, the stock market shot up. There was a minor dip and then the market rally continued again. Now we are above 15000. Any fall below this mark will be crucial. Banknifty is roaring. Yesterday it did fall slightly in the second half. Yesterday in the second half, even IT came strongly.

Tesla has announced that they bought $1.5 billion of bitcoins. Now they are accepting bitcoin payment as well. Obviously, bitcoin is now at highs. I think we at India is doing a mistake by ignoring a global currency. Technology will take over, no matter what. You will be left behind if you do not embrace it.

Tata Motors has been on a swing for some time now. The Jan sales in JLR is down by 42%. Let's see if this news will be taken as negative or will investors cheer this also.

It is this kind of the market where everything is going up. Crude, $, bitcoin, equity, metals. There are no counters. Now, this is scary. Investors are sceptical to enter at this point, but market teases them by going up more. 

The mutant virus is surging globally, but nobody is giving a damm. Stock market is in its own mojo.

MY TRADES

  1. I have executed iron fly at 15000 in the weekly option. For now, it is in good shape. Let's see how that goes.
  2. The IRFC whose IPO I had got is almost at the issue price. I am just waiting for  4-5% return in this. Then I will start selling that in phases.
  3. I will be executing call ratio spread today. 
INTERNATIONAL MARKETS
  1. Now bitcoins are boing used by many companies. I think Tesla has laid the foundation. So the technology is surging like there is no tomorrow.
  2. Yesterday the US markets closed in the green.
  3. Europe also closed in the green.
  4. Today the Asian markets are in green. SGX is suggesting a mild positive start.
FII AND DII
  1. FII have again started buying aggressively after selling aggressively before the budget. They have pumped 1800cr yesterday and DII sold for 500cr.

 

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