Trade setup for 23rd Sept

 Yesterday was a volatile expiry. Markets were all over the place. People who traded in banknifty mostly ended in red, but most of the people who traded in nifty ended in the green. I was lucky enough to have traded in nifty. I had taken 17600 straddles with huge quantities at the beginning and was able to close in the profit of almost 4k per set.

We are in the last week  of the expiry. This month we started with almost 17750and after 4 weeks we are still at 17650. But there was a huge volatility. I had taken 17750 straddle at the beginning of the month and for now I am sitting with more than 12% profit. We have 5 more days and lets see how markets will play.

The news of the day is that all the tata metal stocks will be merged to Tata steel. This is good news. So you can expect tatasteel to rally today. Tata metalicks, tata steel long are the companies which will be merged. Will that change the direction of the market?? Mostly unlikely.

Now Adani stocks have started falling. I had executed short trades in this and for now, I am sitting with a decent profit.

Today I will be meeting in Jegan in Bangalore for lunch. So I will not be making any intraday trades.

The US markets continue to fall. But the fall is reducing. So I won't be surprised if the US markets bounce back from this level. Even the technicals are suggesting a bounce from this level. If this level is not holding then you can expect more fall in the US markets. 

If you see, now we are catching up with the US markets. We had not fallen when the entire world was falling. Now the US markets are stabilizing and we are falling. Yesterday we fell close to 100 and today we are falling 100.

The Bank of England has now raised the interest by 0.5%. 

Wipro fired 300 employees for working in multiple companies. TCS has now asked employees to come and work for 3 days in a week.

The Swiss bank has raised interest rates and is now out of negative interest rates.


  1. As I told you, I have taken a lot of short trades and most of them are in a decent profit.
  2. For this expiry, 17200 will be stock support. I don't think that will be taken out. So I will sell 17100, 17000, and 16900pe aggressively with all the margin available.
  3. I will be closing some of the trades which are in good profit and will take trades in next month.
  1. The US closed in the red but the fall was not that bad yesterday. So it looks like it is stabilizing. Nasdaq however is falling more. There seems to be no stopping for tech stocks to fall.
  2. Europe also closed in the red.
  3. Today the Asian markets are down. SGX is down by 100 points.
  1. FII sold for 2500cr and DII bought for only 260cr
$ and Crude
  1. $ is above 80 now. If this stays above 80 then bannifty will fall more
  2. Crude at $90