Trade setup for 17th March

 Wow wow wow.. Now all bad news seems to be over and markets have begun their up rally. 1 week back, nifty was at 15900 and today it is likely to break 17k. It looks like all the worries which were there are over.

Yesterday in the US fed meet, the interest rate was increased by 0.25% which was expected as Powell had told before that he was pressing for a 25bps hike. Dow liked it and shot up 500+ points. Nasdaq which had fallen a lot shot up drastically. The markets are aware that FED will hike rates 6-7 times in the year.

The US will be providing aid of $12billion to Ukraine. 

Oil is falling at the same rate it went up. Now it is within $100. India will be buying oil from Russia as per the contract which was signed before the war. So, the fuel prices may not be hiked if it falls so drastically.

The interesting index is the Chinese index. Hong kong yesterday shot up 9% and today it has shot up another 5%. The Chinese tech are the major contributor.

Berkshire Hathaway(Warren buffet company) shot up and closed at a record. It is now at $500000 per share. 

Today the entire Asian markets are in the green. SGX is suggesting a 300 point gap. I had sold some CE for today. It looks like I have to do a lot of firefighting today. The volume is small, so it's not something that I need to worry about.

The best part is that the FII have bought in yesterday's trade after a long long time. They bought for 300+cr. 

MY TRADES

1. 16500 was a strong resistance and when markets went above that, I was pretty sure that markets would not come lower. I have sold a lot of puts drastically in the monthly and weekly expires. Today it will be in wonderful profit. I also sold some CE for hedging and today they will be in danger. I hope I will be able to manage that.
2. I bought paytm shares in the case market yesterday.
3. I had sold a lot of PE of individual stocks. None became ITM and looks like the entire premium is mine. I would have been happy if it had become ITM 

EXPIRY SETUP

1. 17k CE has the highest OI and they will be butchered today at open.
2. At opening, I will see selling 17k PE in huge quantity. Its a simple trade which will give you wonderful profit by EOD