Trade setup for 17th Nov

 From Oct, nifty has continuously gone up by 1500+ points. Now there is some profit booking which is seen across the globe.

We are at almost ATH. We are just 200 points away from ATH. Banknifty has made an ATH close. Usually, there will be some jittery at ATH. That's why I told you yesterday that I will go long aggressively only 18500 is taken out. Because 18500 is a round number and a strong resistance. I agree that my profit would be only 100 points from there as there would be profit booking at ATH. But that would have been a guaranteed move. Since my volume would be more, even 100 points move would give a wonderful profit.

Now, if the closing is below 18300 then ATH may not happen this month's expiry. The easy trade would be to sell 18600 aggressively.

Today Softbank is selling a good stake on Paytm at 7% discount from the market price. So we need to see how these new-age startups will behave. I have some investment in Paytm which is a slight loss now.

Cryptos are falling continuously. It's almost close to its 52-week low. After the FTX saga, now the withdrawal request has increased a lot in all exchanges. Many exchanges are now not allowing to withdraw. I had traded bitcoin almost 5 years back when it was close to 13lak. Today it is again close to 13lk. Thanks to the finance ministry for putting a high tax on this, else I had plans of trading in this asset. Taxation made me stay away from this.

Yesterday Adani group shares fell close to 2-4%. Adani ent fell by 100 rs and is below 4k. I had sold 4450ce at 20. Now it is close to 4. Today if it goes below 2 then I will close it as margins will rise in the last week.

CEO of JLR has quit. So tata motors will be in focus. I will think of investing in this if it comes below 300. I will be missing the opportunity if that does not happen.

Justin Trudeau and China's Xi had some war of words at G20 after their conversation was leaked to media.


  1. My algo gave a loss of almost 1% yesterday. For the month it is still in profit.
  2. Today is expiry and I will be selling the CE with the remaining premiums
  3. For jan series I will be selling 45000ce in banknifty. Its currently around 500 which is almost 9% for 2 months which is good ROI.
  1. The US markets closed in the red. Dow closed mildly in the red. Nasdaq lost more than 1%
  2. Europe closed in the red. 
  3. Today Asian markets are in the red. SGX is down my almost 80 points.
  1. FII sold for 350+cr and DII bought for almost 1500cr
  1. As geo political tension relax, crude falls. It is close to $92
  2. $ is at Rs 81.5