Trade setup for 13th October

 Yesterday again the markets closed in the green. Not sure how come so much optimism in the markets. The US markets are closing in the red, crude is rising, institutions are selling continuously. But the retail inflow is not looking to stop at all. Every dip is bought like they found gold in every dip. 

Yesterday markets opened flat and at a later point fell and went below 17900. Everyone thought that 18k will be a strong resistance and there might be some profit booking which usually happens at 18k. Then the bulls came back and again took the markets to 18k. 

HCL tech fell 4% yesterday. It was banknifty which was higher but surprisingly hdfcbk and icici were in red. It was kotak and sbi which took it higher. How many times have you seen hdfc, icicic in red and banknifty in green?

I thought of initiating long positions if 18k is taken out conveniently or take short positions if 17850 is taken out conveniently. It looks like I may have to wait for some more days for that.

Retail inflation has fallen to a 5month low. 

Tata motors got a $1 billion cheque from the TPG group for its EV biz. But tata motors has shot up a lot in the last few days. It looks like this news is priced in. Tata motor ADR is up 12%. Infy ADR is up 1% yesterday.

Today is a very important day for me as 3 major IT companies are coming out with numbers. Infy, Wipro and mindtree. I have trades in 2 IT stocks TCS and Mindtree. Let's see what the results will give and how the movement will happen. 

Covaxin can be given to kids of age group 2-18. So now covid fears are over and the fear of 3rd, 4th may not be there. 

Today you have the US inflation data which is expected to be high. 

Coal shortage is not only limited to China. It has impacted many Asian countries. For now India has not suffered much. It may get worst if coal supply continues at the same rate.

The chip shortage issue might be resolved in some time as per sources. So the auto industry got another boost for rallying.


  1. Now I am just monitoring my trades and waiting to take counter trades if anything goes wrong. 
  2. No fresh trades were initiated.
  1. The US markets closed in the red. Its closing in the red for 3rd consecutive day. But we are not caring for any global cues and we have closed in the green for 3 consecutive days.
  2. Europe also closed in the red.
  3. Today the Asian markets are mixed. SGX is suggesting a 50point gap up
  1. Crude is almost $83
  2. $ is at Rs 75