Trade setup for 9th March



 I am excited to announce my new course. This program will have 5 courses and after this program, you can start trading independently and make a consistent profit by trading in options. 

Coming to the markets, this week has been the consolidation week. We are around 15k only. But markets were volatile. Yesterday, the markets went to 15100 and then came back to 15000.

This consolidation was much needed for a bull market. The longer this consolidation is there, the more conviction you get in the rally. Now, 15k is very strong support. We may head lower if this is broken and I believe that we will head lower.

The US rallied yesterday after $1.9 trillion was passed. But the dow shot 600 points and closed by gaining only 300 points. The Nasdaq is falling and it is at the 38% retracement level. If it falls further from here then further selling may come in this. This index is underperforming. It's just a matter of time when other indexes will follow. You cannot have one index falling and the other index rising.

European markets ended higher.

Karnataka cuts stamp duty to 3% from 5%. Govt cutting taxes means that the sector is not good and needs some stimulus.

The US bond yields are now at 1.56. It fell from 1.6 and this gave some boost to the Dow.

Today BPCL will sell 7% shares in a block deal.

MY TRADES

  1. Yesterday, I did show some intraday trades. I closed most of them and I was able to end the day with almost 65 thousand profit.
  2. I forgot that tomorrow is the expiry. I was still feeling that Thursday is expiry. Today, I will deploy huge volumes in the below strategy
    1. -1 X 15000ce
    2. -1 X 15000pe
    3. +1 X 15250ce
    4. +1 X 14750pe
  3. The butterfly and ratio spreads which I had are in good profit for now.
FII AND DII
  1. Now this is getting interesting. Both the institutions are now selling. 
  2. FII sold for 2000cr and DII sold for 1200cr.
  3. Institutions selling, nasdaq falling. No major event in the near future. Now you decide what will happen to the market. Simple common sense.
CRUDE AND $
  1. Crude went to $70 after drone attack on saudi refinery and is now back to $68.
  2. $ is at Rs 73


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