Trade setup for 9th November

 Yesterday was another volatile day. SGX suggested that we would open with a gap which did happen. But there was selling at higher levels and traders thought that 18k was a strong resistance as 18k ce had the highest open interest as well. Markets fell and even went to the red. In the second half, there was a short-covering rally and markets went close to 18100. 

The major contributor to the fall and rally was reliance. Reliance fell 1% and markets fell. Reliance recovered and came to green and markets shot up. 

The banks are still weak. There are some frauds which Indusind bank has done and the stock price fell more than 10%. The sentiment in the entire sector is weak. ICICI, SBI are way beyond their highs. Let's see if there will be a short-covering rally in the banks and will we make an all-time high again in the markets.

As there was a reduction in petrol and Diesel excise, the oil marketing companies were also in focus. Mosh of them shot and closed in the green.

Divis lab came out with numbers and the street did not take it well and it fell more than 5%.

Today you have KFC operator Saffire foods coming out with its IPO.

It looks like the US markets are in no mood to fall. Dow shot up for 7 days and nasdaq for 11th session.

Tesla fell 5% after Elon musk planned to sell his shares.

The cryptos are on fire. The Crypto market cap is now 3 trillion.


  1. Yesterday I took call ratio spread when markets were in the red. In the second half it shot up and I am now in a minor loss. If markets shoot up today then I will have to do adjustments. To be on the safer side, I did sell 17700pe aggressively. The entire trade will be in profit today if markets close in the red.
  2. In banknifty I sold 40500ce aggressively. 
  3. The back spread trade which I took sometime back is in wonderful profit. I am planning to close and book the profit this week. I will share the trade and logic in a youtube video today if possible. So follow my telegram and youtube channel to learn more.
  4. I will be applying for paytm and saffire foods ipo today. I am planning to apply 5 lots for each from different accounts. Let's see if I will get it or not.
  1. Dow and nasdaq closed in the green for 7th and 11th consecutive session.
  2. Europe was flat.
  3. Today the Asian markets are flat as well.
  1. Yesterday the $ fell almost 0.5. It is now at Rs 74
  2. Crude shot up slightly and is now at $83
  1. FII sold for 860cr and DII bought for 1911cr