Trade setup for 22nd March

  1. The rise in covid cases is worrying. More restriction and lockdowns may have an impact on the markets. Otherwise, covid is more like an over story.
  2.  Turkey president has fired its central bank chief after he raised the rates.
  3. Today, the Asian markets are mixed. SGX is suggesting a muted start.
  4. The US markets closed in the red. The US bond yeilds are at 1.7 now. Techs have seen a recovery and the Nasdaq closed in the green.
  5. The markets may fall more if nifty close below yesterday's low as it will be the clear formation of the double top pattern.
  6. We should wait and see if Friday's bounce was a real retracement or a false signal. Wait for this week. As we have the expiry, there will be a lot of volatility. 
  7. Crude oil is at $64. International consumption is coming down and the US inventories are piling up.
  8. FII bought for 1500cr and DII bought for 560cr on Friday. The FII has bought a lot and if markets start to fall, they won't hesitate to fall. There was FTSE rebalancing which might have caused the FII to buy in the Indian markets. 
  1. I will be taking the position in the April expiry as I don't want to take a position in the volatile markets in the expiry week.
    1. +1X nifty 15200ce
    2. -1 X nifty 15400ce
    3. -1 X nifty 15500ce
  2. I have even created a youtube video on this. Please check that below as I have explained in detail.
        3. I will start building a portfolio if nifty comes down to 14000.

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