Trade setup for 23rd April

 We are in a very very volatile market environment. One day markets shoot up giving hope that markets will rally, but the next day it will fall. 

This is because there is high uncertainty with respect to covid cases. India has now reported the highest single-day cases. The situation is very alarming. I request all to stay at home as much as possible. Your health is the most important and should be given the highest priority. Everything else can wait.

The situation at the hospital is very bad as there is a shortage of oxygen and vaccines like remdesivir.

Biden has vowed to reduce greenhouse gas by 50% by 2030. This is a new and welcome step towards climate change. I hope other countries also follow. 

Yesterday, Biden hinted that there would be a hike in the capital gains tax. The markets did not like that and dow fell close to 400 points and recovered some at the end.

Today we have HCL tech results. The results will be good as other IT majors have given good numbers.

Tomorrow we have ICICI bank which will come out with results. So Monday will be another volatile day.

I was bearish till now. Now I am bullish as yesterday nifty bounced from 14200. This is the 3rd time where this is happening. I think this is called triple bottom and whenever this happens, markets recover. I have closed most of my bear trades. From now, all dip will be for going long. 


  1. I think I should stop seeing SGX. Yesterday, it showed that we would have a 200 point gapdown. So At open, I took positions but that did not work. Markets started rallying upside and all my adjustment positions were in danger. But luckily, I was able to identify this quickly and I took aggressive positions and I was able to end in profit.
  2. This is monthly expiry. I am going to keep my volumes low as there will be huge volatility.
  3. In my zerodha account, I was able to make around 6k profit. 
  4. I will be executing the below trade
    1. +1 X 14200pe
    2. -1 X 14100pe
    3. -1 X 14000pe
    4. -1 X 13900pe
  1. Capital gain tax made US markets closed in the red.
  2. European markets closed in the green.
  3. Asian markets are in red and SGX is suggesting a gap of around 100 points. Today is the day bears should get the grip. If 14200 is broken then I will continue my bear view else I will become a bull.
  1. FII sold for 900cr and DII bought for 850cr
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