Trade setup for 30th April

 I did say in the inner circle weekly meetup that as we had a huge moment on Wednesday, there would not be any major movement on Thursday but markets would be volatile. Nifty moved possibly everywhere but finally closed with just 30 point gain and banknifty was flat.

Yesterday was a very difficult day for the expiry traders. Many of my friends closed in red. I literally escaped by a whisker. At one point I was at a loss of around 70 thousand. Finally, closed the day with a profit of around 1lak 85 thousand.

All voting is over and now the exit polls have given their verdict. Bengal will be with TMC, BJP may form in Assam and pondy. DMK in Tamil Nadu. Kerala will be retained by LDF.

Because of a technical glitch, there was a trading halt a few months back and SEBI has now come out with rules which will punish the CEO, CTO of exchanges etc. They may have to give their 10% of the compensation if any technical glitch happens.

Covid cases are rising. Devi Shetty has done a video explaining how to tackle this. Hope the govt listens to him. Now covid cases are rising in other countries as well like Singapore etc.

Rajiv Bajaj has stepped down from the CEO of bajaj auto. This news came after the market yesterday. We need to see how bajaj auto will react today. Now it will be run by Niraj Bajaj.

Yesterday, Amazon comes out with earning and it was 44% surge in sales which was fantastic. But stock future are down.

Today we have Reliance earning. Usually, Reliance comes out with numbers after markets. I am not planning for an earning trade in this as I will be carrying the position to the weekend. Since Reliance has rallied a lot, I don't think it will make a major move after the results. The below trade can be done by risky traders.

  1.   -1 X 2000ce
  2. -1 X 2000pe
  3. +1 X 2200ce
  4. -1 X 1800pe
  1. As I told you, 14200 to 15k is the range. Markets are behaving exactly. Yesterday it kissed 15k and today it is falling.
  2. I will keep my position low for this week as we have election results. New traders can stay away this week as we have 2 major state results.
  3. JSW steel is interesting for me. I am doing the below trade in that
    1. +1 X 730ce
    2. -1 X 740ce
    3. -2 X 750ce
    4. +2 X 755ce
  1. Dow gained around a percent. Nasdaq also closed in the green.
  2. Europe ended in the green.
  3. Today the SGX is in red. SGX is suggesting a gapdown opening.
  1. FII bought for 800cr and DII sold for 900cr.