Trade setup for 30th Dec

 Today is the last day of this calendar year. Yesterday was a very bad expiry for me. I was sitting in excellent profit for the month. The last-hour rally in banknifty took away more than 50% of the profit. Ended the month with a decent profit. 

Frankly, I did not expect such a short covering rally. Nifty shot almost 200 points and it was banknifty who was the man of the match. It rallied around 800 points from the low.

I did not expect the banknifty to cross 43000. It crossed and went all the way to 43300. I had sold a huge qty of 43k and 43200ce. I had to run for cover when the rally began. The loss there took more than 50% of the monthly gains. But still, I was able to close the month with a gain of more than 4% which is a good ROI.

Yesterday I did tell you that nasdaq is at the strong support. I even showed you the chart setting for this as well. As expected there was a huge short covering even in the US markets. Tesla recovered 8%. Few days back it had fallen 10%. Elon musk told not to worry about stock market craziness and it recovered. 

So yesterday's low in the US markets is the support. If that is broken then fresh short will be initiated there and eventually, we will also fall. Till then it is a buy on dips market. 

Yesterday, I had some clients in my office and they felt that the 3PM move was expiry move and today markets may fall. I warned them not to short as it was a rally with volumes. They considered it and today they will be thanking me as sgx is suggesting a 60 point gapup.

Now we need to see how the jan month will play. 

Narendra modi's mother passes away. Footballer Pele passes away. Ananth Ambani gets engaged.

The world is now worried about the transparency from the China with respect to covid. Many cities worldwide have now started checking visitors from china for covid.


  1. I don't think we will again go below 18k in this new series unless something serious happens. I had sold 18700ce for jan. Today I will close them in a minor loss and sell double quantity of 17800pe. When I recover the loss of the 18700ce, I will sell half of 17800pe.
  2. If 18300 is taken out then I will sell more volumes of 17800,900pe by pyramiding.
  3. I will execute the below trade in bajfin
    1. +1 X 6000pe
    2. -3 X 5500pe
    3. -3 X 5400pe
  1. US closed in the green. Dow gained 300points and nasdaq gained 2.5%. Nasdaq has bounced from a crucial support zone. Looks like there will be more short covering in the coming days.
  2. Europe closed in the green
  3. Today the Asian markets are in the green. SGX is up by 60 points
  1. FII sold for 572cr and DII bought for 512cr
  1. Crude is at $82.26
  2. $ is at Rs 82.77