Trade setup for 03rd December

 Now the virus has entered India. New cases are detected in Bangalore. But it looks like the stock market is not bothered about this. They are bothered only by the US market. Markets fell when there was a case in the US. Today nifty may not fall drastically.

The disturbing factor is that the FII are still selling. Even yesterday they have sold when there was a good rally.

Yesterday I did very small trades and for the week the profit was around 40k. I missed to put the screenshot on my social media. Anyway, it is a waste showing the screenshot as the MTM will not be the clear number.

Yesterday we had the OPEC+ meet and they have decided to increase the oil production as usual. So now you can expect the crude to fall further.

Yesterday, it was a strong rally on the upside. I expected that as there was no follow-through when nifty closed below 17000. It will be interesting now if FII turns buyers. They have huge cash with them and I won't be surprised if they become buyers then we can go beyond 18k again. 

I am still a seller at higher levels and I will turn a buyer if 17600 is taken out. The investments which I made when nifty was at 17k has paid off. I am already sitting with a decent profit. But I invested only 10% of my capital. 

Anand Rathi is coming out with IPO. Please don't apply for that as the promoters are selling their stake. I am pretty sure that it will open negatively. I am planning to sell in case it opens with a premium on an intraday basis.

The Autos are increasing the price from Jan. So there might be some positivity around that.

Google has delayed it mandatory return to office decision.

Maharastra has again brought in covid rules for international passengers.

Yesterday we had the US jobs data which was good.

The US has decided to send all the Chinese companies out of US. Didi has decided to delist from US and list in HKG.

The US markets have bounced back strongly after it fell due to Omicron varient. So it looks like this varient is not very dangerous. Atleast that is what the markets are telling us.


  1. Yesterday's expiry was good. The entire week worked as per my tunes. Sometimes even markets will respect you. But don't expect that to happen every time. 
  2. If 17500-600 is taken out convincingly, then I don't think 17k will be tested again. I will probably go long after that. Till then it is still a sell on rally market only. I am expecting markets to close in green today also. I will sell the rally which we get today as the risk-reward is in the favour of the bears. I will execute the below trade
    1. +2 X 17400pe
    2. -1 X 17500pe