Trade setup for 23rd november

 Yesterday was a blood bath in the markets. Markets fell so badly after 7 months. There were many reasons. I don't know how all the good news hit the markets when they go up and how all the bad news hit the markets when they are falling.

Nifty has fallen 4% in this week and 6% for its highs. 

Yesterday I did not expect 17500 to be broken for this expiry. There was absolutely no buying which came. Any minor rally was sold into.  

It looks like Paytm has triggered the fall. Yesterday it was down by almost 17%. Then in the second half, it recovered some and closed by losing 13%. Now it has fallen almost 40% from its issue price. That's the problem with the IPO. Stocks like Nykaa will not get allotted but stocks like Paytm will be definitely allotted. I spoke to many and 90% of them who applied told me that they got allotted and are now stuck.

From now, no more IPO's which I will be applying. 

Reliance is renegotiating the deal with Saudi Aramco in their O2C biz. This news came over the weekend and there was a huge gap down on Monday. If Reliance falls more than 3-4% then you can imagine what will happen to the markets. I had sold 2300pe. Luckily I closed them in profit on Friday as I wanted to release some margin. Let's see how that will trade today. 

As I told you, I will be using this fall as an opportunity to make fresh investments in the market. I will begin once it comes below 17k. You will be very happy when you sell all your stock holding and markets fall like cards.

ICICI bank is now below its pre earing price which is what I expected would happen. I am keeping an eye on all these stocks for investments. 

Yesterday the only stocks which were in the green were Asian paints, airtel and metals.

Asian paints and airtel are increasing their prices. Vedanta group is planning to increase its stake in the company by almost 5% at 350 pe share. Last year delisting failed. So now demerge and divide. Increase your stake and then delist. Looks like all plans are being made to delist the company. 

The crude market is in a tight range as the US, Canada is planning to sell more from their reserve.

Joe Biden has reappointed Powell as Fed chairman again. So this was news which the US markets cheered in the morning but they fell and closed flat in the second half. 


  1. I was sitting with a wonderful profit till Friday. 1 bad day ruined all the profit. Now I am sitting with a minor loss. I had to do a lot of adjustments for the trades which I took. I have to manage it for 3 more days. Let's see how it goes.
  2. The butterfly trade which I had taken was in profit. I did an adjustment to increase the profit which made me pay yesterday. I need not worry if no adjustment was done. The moral is, greed is never good for your financial health.
  3. No fresh trades have been initiated as now I may need to do a lot of firefighting trades.
  1. India did not fall much when the US markets were falling sometime back. Now it is payback time. The international markets are not falling much but there is a blood bath in our markets.
  2. Dow was flat yesterday after going up in the first half.
  3. NAsdaq fell more than 200 points.
  4. Europe was also flat.
  5. Today the Asian markets are in the red. JApan is having a holiday. SGX is suggesting another 100 point fall.
  1. Crude is below $80 as US is strategically planning to selling its reserve.
  2. $ is at Rs 74.3
  1. FII Sold for 3500+cr and DII sold for 2500+cr