Trade setup for 24th November

 The talk of the town is the winter session of the parliament where they are planning to ban all private cryptocurrencies and RBI is planning to come out with its own crypto. Now we need to see how the crypto markets will behave and will money flow to Indian equities as more than 10cr people in India hold cryptos. 

Finally Paytm was in green and gained around 9% yesterday. We need to see if this will continue or was it just yesterday. Mobiqik IPO has been delayed after they saw the performance of Paytm. 

Yesterday was another volatile session. Markets collapsed and the Nifty hit a low of almost 17200. From there it recovered 300 points and closed above 17500. Banknifty recovered almost 700 points. The recovery was one-sided as well. There were a lot of ups and downs as well. 

ICICI bank fell 17rs and recovered to close in the green. 

Tata motors is hovering around 500. Sometimes it shoots 4-5% and goes beyond 500 and then it falls and comes within 500. Wait for a breakout or breakdown for a further rally in this. Keep an eye on daily volumes to get more confirmation.

The metal rally continues. Vedanta gained 7% as there is the news behind that. 

Now the covid fears are going down and many countries are opening for international tourists. So this space is interesting. One can think of investing in travel and hospitality firms for long term investment.

The US is releasing oil from its reserves. They are now putting pressure on India as well to release oil from their reserve.


  1. We are in the last week of the expiry and we did have 2 volatile sessions. I am not expecting a similar volatile session for the next 2 days. I am executing the below trades. I will manage it if things get volatile
    1. -1 X 17600ce
    2. -1 X 17600pe
  2. Yesterday the recovery in the markets recovered most of my loss as well. Yesterday my MTM profit was more than 4lak. But that was not the profit which I booked. The day before yesterday there was a loss of more than 4.5lk and yesterday it recovered. I did share this in my social media links as well which people use for misleading people. 
  3. I am expecting 17k to be taken out by December. So I am planning to take the below trade for the December expiry
    1. +1 X 17700ce
    2. -5 X 18000ce
    3. +4 X 18400ce
  1. The tech sell-off continues in the US. Nasdaq closed in the red. Dow gained around 200 points. The money is moving from techs to other sectors as the economy is opening up.
  2. Europe was negative.
  3. Today the US futures are in mild green.
  4. Asia is mixed. Hongkong and japan are down. Japan had a holiday yesterday. So its factoring that.
  5. SGX is suggesting a +ve start. Lets see if there will be selling or will there be follow-through. 
  1. Crude is at $82.5
  2. $ is at Rs 74.4
  1. FII sold for 4400+cr and DII bought for only 1400+cr
  2. I wonder who bought for such a huge rally.
  3. I am not sure if there was any block deal which happened.