Trade setup for 21st March



 This Thursday was an interesting day. Markets were flat after opening which is not very common, especially on an expiry day. Option sellers just minted money. 920 straddle traders got a jackpot. That is the beauty of this market. All kinds of players get an opportunity. You just need to identify and master your game.

We will be opening after a long weekend. So there will be a good time decay in the option premiums today. One can initiate short strangles or straddles at the opening.

Now, it looks like the markets are going to go higher as the war fears getting escalated have reduced. But Russia is still continuing to bomb Ukraine. Markets fell during the initial days as it feared that there might be a nuclear war but that did not happen and markets recovered.

On Friday, Accenture came out with numbers and it was good. So it looks like this earning season may be positive, at least for IT.

Suzuki investing 150 billion yen in India for manufacturing electric cars. So it looks like, the disruption in the EV space is happening from big players as well.

Nifty closed above 50DMA and today we are getting follow through which is a good sign that markets will go higher. I am bullish on the market and I am sure it will goto 18k soon.

Banknifty is at almost 200 DMA. If that is taken out then even banknifty where the shorts are very huge may rally and 40k can be a reasonable target.

Now even FII are buying. Thursday they bought for more than 2000cr. As I told you before, I will be a bull only when FII starts buying and this is the time.

Ashneer grover has told to buy paytm and he has given his justification in his tweet. Lets see what will happen to that today. I have bought 100 shares and it is dow by 6% now for me.

MY TRADES

  1. From now, I will be doing aggressive intraday trades and for positional trades, its only bullish trades. 
  2. I will be rolling over my stock option PE to closer strikes as I am confident that markets may not fall further.
  3. For this monthly expiry, I will be taking this trade
    1. +1 X 17000pe
    2. -3 X 16800pe
    3. -1 X 16700pe
    4. -3 X 16500pe

INTERNATIONAL MARKETS

  1. The US markets are going higher. Futures are slightly lower.
  2. Europe also in the green.
  3. Today the Asian markets are flat to positive. SGX is 100 points higher.
CRUDE AND $
  1. Crude has again started to give some worry as it is now at $110. India will be buying discounted oil from Russia. So the fuel prices are not going higher here. Bulk diesel prices hiked by 25Rs per lt.
  2. $ is at Rs 75
FII AND DII


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