Trade setup for 8th Sept


 This is the nifty chart. There is a clear cup and handle pattern which is in place. After 18k is taken out, I am pretty confident that there will be a very strong rally. We may even go beyond 20k within this year if that happens within this month.

Now even the US markets have started rallying. The US markets had fallen more and now they are recovering. FII flows are increasing consistently. Now is definitely not the time fr shorting. 

In my last video, I clearly told that if the US has to bounce back this is the time. If the US markets had fallen more from here, then it would have been a clear downtrend and gradually even we would have followed. We did not fall much compared to the US. The stronger will get even stronger.

Crude is another factor that is to our advantage. It is falling significantly and is now close $88. It has fallen 30% from its high which happened in june. The falling crude is good for tyre, paint companies.

Now it is an easy bet. The beaten-down sector was IT. From now, use all the dips to enter into IT. Buy TCS, Infy or take bullish strategies in these(I am doing that).

Banks may take a halt as it has rallied. 

RBI has banned a list of apps like binamo, optioniq etc which were funded by China. So if you are using any of those app, make sure you take your money out and close it.

Keep an eye on the US markets. The low of 31000 and in nasdaq the low was 12000. If this is taken out anytime then you can expect our markets also to fall. If this is protected then we will continue to rally higher.

MY TRADES

  1. Not much adjustment done to the trade taken for this week. I will be ending this week with a profit of more than 1.5%.
  2. For this month, I am already sitting with a profit of 3.5%. We have 3 more expiries 🙏🙏
  3. I am bullish on IT. So I am doing the below trade
    1. +2 X 1460ce
    2. -1 X 1400ce
    3. -3 X 1600ce
INTERNATIONAL MARKETS
  1. After falling a lot, the US markets bounced at crucial point. Dow shot up 400+ points and nasdaq gained more than 2%
  2. Europe was flat as they have their own issues. The UK currency fell to its highest level to the US $.
  3. Today the Asian markets are in the green. SGX is up by 120 points
FII AND DII
  1. FII are buying. Yesterday they bought for 750+cr and DII sold for only 138cr
CRUDE AND $
  1. Crude is at $88
  2. $ is not going beyond Rs 80 which is good




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