Trade setup for 2nd March

 Again we are close to 15000. This is how volatility plays. Now nifty is between 20DMA and 50DMA. Now, this will be the range and the breakout will determine the trend. I have a strong belief that it will be on the down side. I may be totally wrong as always. :)

15k is another psychological resistance as well. So first breaking that will be another challenge. I will stick to my view till the 20DMA is broken on the upside on the closing basis.

Yesterday the GST collection data came and for the 5th time in the row, we have made a 1lk+ collection. So there is good consumption.

Keep an eye on Dow. It came back from 32000. So for that market, 32000 is a strong resistance. 

Bitcoin is again almost $50k. Every dip is being bought without any major signs of the markets crashing.

The US bond yield issue looks like it is over as the equity markets are moving on. 

Vix fell yesterday as bond yield issue was neglected and there was short covering in the international market.


  1. Yesterday, I executed some short trades.
  2. I have sold banknifty futures (small quantity). It looks like I need to add some adjustment today. Will take a call in the second half.
  3. My butterfly and iron condor are in good shape and is already in profit.
  1. There is a huge short covering in the international market.
  2. Will there is be fresh buying is the question
  3. Yesterday the US market closed in dark green. Dow shot 600 points and nasdaq gained 3%. The techs are back and roaring again.
  4. European markets as well closed in green.
  5. Today the Asian markets are in green and SGX is suggesting a 100 point gap. I am planing to sell into this gap.
  1. Crude is at $62.63
  2. $ is at Rs73. 
  1. FII bought for just 125cr and DII sold for 195cr. Then I wonder who bought it for such a huge rally??