Trade setup for 3rd nov

There will be no blog for the next 10 days as I am going to Kashmir for a vacation with family. I will try to make short videos from there. So follow me on insta, youtube and other places.

My Algo will continue to run even with my absence. All trades will continue as my positions are in decent shape.

 Yesterday we had the FED meet and then the DOW started dancing. After a long time I saw the entire US markets till 1:30 AM. Not that I had huge positions, but I enjoyed how the US markets danced. The last 1.5hr was like watching the climax of Kaantara movie. ooooooooooooooooooooooo

I was posting the move also in social media as well.
At 11:30 when the fed hiked rates, the US markets shot up more than 300 points. Then when Powell started to speak, it fell drastically. It fell almost 800 points from intraday high and closed in the red by 500 points. This was how crazy the move was.

I made a wild guess that US markets would go higher. Some made a guess that markets will fall after the event. Both of us were right. 😂😂😂😂

Coming to our markets, the SGX is suggesting a huge gap down. 

We had a fantastic rally and closing above 18k also showed strength in the market. But now today, we may go below 18k again. Now we need to see if 18k will be protected or not. If 18k is not protected then the next bull run will begin only when 18k is taken out.

I did not expect 18k to be taken out so soon. I had some huge positions on the short side. The rally in the last week made me close some positions and make some adjustments. Today I can have a sigh of relief as I will be in a comfortable position.

Nowadays, you are seeing a lot of ads for Bikaji foods with Amitabh Bachan as a brand ambassador. do you know why? Because they are coming for IPO. They are setting the stage and environment for a successful IPO. I would stay away from this.

Now that FII flows are also increasing. We need to see if the dip will be bought today?

Yesterday it was Reliance, metals, and ITC which gave support to the markets. Banks are weak. 

Elon musk is planning to cut 50% of Twitter employees to cut costs. Not sure what he is up to. Only geniuses or super eccentric person makes these kinds of decision. No wonder, he is the richest person on the planet. He has also asked his employees to work 12hrs a day. 

10 year treasury yield is higher after Powell hiked rates by 75 bps.

  1. I had sold 18200ce for this week in low volume. I was slightly scared with the event yesterday. But today I can relax.
  2. I will be executing the below trade in the monthly expiry
    1. +1 X 18000pe
    2. -3 X 17500pe
  3. In banknifty I will be executing the below trade
    1. +1 X 41000ce
    2. -3 X 42000ce
  1. Dow closed by losing 500 points and Nasddaq lost 3%
  2. Europe closed in the red
  3. Today the Asian markets are down and out. SGX is down by 175 points
  1. FII are buying. They bought for 1400 odd cr and DII solf dor almost 1400 odd cr
  1. $ is close to 83 again. Today it may goto 83. Keep an eye on that. That needs to cool.
  2. Crude is at $95