Trade setup for 24th Jan

 This month has been very volatile and positional traders are fighting with the market every day. In the first half nifty shot up 1000+ points and in the next half it has fallen around 800 points. 

Now Russia-Ukrain conflict is getting escalated and now every country is taking sides. Russia has deployed a huge number of troops at its border and everyone is fearing that they might attack anytime soon. Now the US is sending its troops along with its allies. 

Keep an eye on oil prices as that is the only indicator that will tell you the status of the geopolitical situation.

On Friday, the Russian central bank told that cryptos need to be banned in Russia. Now with the fear of fed hiking rates and countries like China, Russia against cryptos, cryptos have fallen more than 50% from their highs. 

Over the weekend we got RIL and ICICI bank results and both are good. So let's see if these 2 can take the nifty higher. We have 3 more days for this monthly expiry. JSW steel did not meet the estimates. RIL GDR closed in the red. So now this is interesting.

Covid cases are rising and we clocked 3lk+ cases in India and in Mumbai schools are reopening. Now many other cites may follow the same. 

Today you have Axis bank, hdfc amc results. 

This week is very important as it is the last week for the budget, monthly expiry, FOMC meeting. This FOMC meeting is being watched carefully as FED may hike rates and the best part, is we have a holiday in this week which is 1 day before expiry.

On Friday, in the last hour, nifty shot up 150 points. Now seeing the SGX it looks like we may lose that entire 150 points. But the US futures are in the green after a drastic fall on Friday. It defended the 50 DMA.

Netflix fell close to 22% last week as its results were bad. 


  1. I am still fighting the butterfly trade which I had taken. 
  2. No fresh trades taken
  1. The US markets closed in the red. S&P 500 is now below 200 DMA.
  2. European markets closed in the red by losing more than 1.5%
  3. Today the Asian markets are in the red. But many indices are recovering from their low. SGX is suggesting a 150 point gap down. The first hour low for today will be important
  1. Crude is at $88. If the tension in Russia increases, then this will shoot higher due to tight supply. 
  2. $ is at Rs 74
  1. There is no stopping for FII. This month they have sold for more than $2billion. On Friday, they sold for more than 3150cr and DII bought fir just 250+cr