Trade setup for 29th October


Yesterday was a blood bath in the market. This kind of fall on an expiry day can be very dangerous. This month has been very volatile. Nifty started at 17500, then went to 18900 and then closed below 17900. No matter what strategy you use, you would have had to do adjustments and then pump more and more money to stay floating. For the month, I am in a no loss, no profit zone. Some trades gave wonderful profit and some gave super loss.

I had positions in banknifty this month and had to close them in loss but the mindtree trade which I had told in all my social media channels was wonderful and that negated the banknifty loss. 

I was expecting a crack in banknifty but ICICI bank results came out of the syllabus and took banknifty higher. Yesterday banknifty fell more than 1300 points. 

The important thing is nifty fell below its 20DMA and also 18000 which was a very important support. Today you will not get the conviction to short the markets as yesterday it has fallen 400 points. 

Inflation is real. The matchbox rate is now Rs 2. The matchbox association has now changed the price after 14 years. If this continues then the probability of markets scaling higher is less.

IRCTC had a stock split. I got at least 10 calls from people asking why IRCTC fell and can they buy now. IRCTC will be 50% of the convenience fee to the rail ministry. So the shareholders are not happy about this. This is the problem with public sector companies. I won't be surprised if IRCTC falls more now. The best part is that the split stocks are not reflected in the account and people are confused how to sell them now. 

RBI governor term extended. It was expected as he was in good terms with the govt unlike Urgit patel or raghuran rajan. 

Indusind bank came out with good numbers but in yesterday's fall its move was ignored.

Facebook name changed to meta. They are coming up with a conglomerate of products called metaverse. So facebook and Instagram will be a part of that.

Apple and Amazon missed earnings.


  1. I took an aggressive trade in ICIC bank on its result day and that is now in wonderful profit. If banknifty and ICICI bank fall more today then may close that or do some adjustments to increase the profit or reduce the risk.
  2.  For this month, I am bearish but nov has been a green month historically. So I am confused. So will be trading with low volume and scaling gradually.
  3. Yesterday's expiry trade was not good as I did not expect 18k to be broken. I may not be sharing my MTM statement as it will be misleading because it is no more 100% expiry trade. The MTM profit or loss will not be the correct one as there will be many positional trades as well
  1. The US markets shot up. Now the US futures are in the red. 
  2. Europe was in flat terrain today. 
  3. Today the Asian markets are in the red and SGX is suggesting a flat opening. It was in green yesterday and it has now gone to the red.
  1. Yesterday FII sold for 3800+cr and DII bought for only 800cr
  2. Finally FII showed the world that they rule the markets.
  1. crude has fallen slightly. its now at $81