Trade setup for 24th March

 Yesterday was again a volatile trading session. Markets went all over the place. Still, we have not got the confirmation of the double top which I am waiting eagerly for. For now, it looks like the markets are in no mood to fall more. Now there is a very tight range which has formed which is 15000 and 14600. This range breakout with a good volume can decide the direction of the market.

Still, I believe that the lower end of the range will be broken. But but but wait for confirmation. Dont pull the gun and then get stuck. 

Yesterday finally the moratorium judgement came and it looks like it was in favour of the banks as they rallied after the judgement. Now this long pending issue is over as this was getting postponed many times in the court. 

The rocket man is back. North Korea's rocket man has tested some missiles which have angered the Biden govt. Will this create tension in the world?? 

Babu ganeshan(Barbeque nation)  IPO starts today. Need to wait and watch if this will open like that of the Burger king and rally like jubilant food. I am not applying for this.


  1. Yesterday I did some intraday trades in my Zerodha account and was able to make a profit of 2000rs with a capital of 2lakh.
  2. I did the same kind of trades in my IIFL account as well which I do every day.
  3. No new fresh positions were added for the positional trades.
  1. The US markets closed in the red. The US bond yield is down, still, the US markets also closed in red which was a bit strange.
  2. European markets as well closed in the red.
  3. Today morning the Asian markets are in red as well. SGX suggests a negative start.
  1. Crude is at $60 as the inventory is building up. But the macro data shows that consumption is not slowing.
  2. $ is at Rs 72.
  1. FII has sold for 100cr and DII sold for 500cr. So there was no major activity of the institutions. Yet there was so much volatility.
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  1. rocket man is unbelievable.....everyone is going to dance to his music now.


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