Trade setup for 18th Jan

 Finally, what I felt worked out. All these days, most of my views went wrong. Markets were playing ping-pong. Now I am pretty comfortable and sure that 17800 will be a support for this series. The reverse cup and handle which I had shared sometime back have not happened and from now there may not be a drastic fall further. If today is a green candle then the conviction there becomes stronger. 

Nifty managed to close above the 20dma also. So theoretically, nifty should go higher from here. In other words, the risk-reward is good on the upside.

On the other side, the banknifty is weak compared to nifty and is still below 20 dma. 

We have bank of japan monetary policy. The entire word is waiting for that. Its there in few hrs time from now. 

I feel that banknifty will rally on the upside. 

Yesterday goldman saches came out with numbers and it was not that good. So the US markets were in the red. Nasdaq closed in the green as the beaten down tech stocks like tesla recovered. I had plans of investing some in Tesla if it came below $100, like meta. But that did not happen. The way its going higher, it looks like it may not come to that level again.

It looks like recession fears are going off. But job cuts are happening across companies. Now Microsoft has cut jobs.

I was listening to some of the interviews of CEO's in the Davos economic forum and all of them are optimistic on India. For investors, this is a good time to invest into beaten down secors. I would say, always stick to the index leaders than identifying the multibaggers.


  1. My algo was able to get around 4% yesterday. For the month it is in a profit of around 14%
  2. I had taken bullish trades and it looks like it will be in good profit for today.
  3. The HDFC trade which i took and did a youtube video is started to give profit. Today it will be in good profit.
  1. Finally fii bought for this year. They bought for 200cr and DII bought for 90cr
  1. Crude at $87
  2. USDINR at 81.7