Trade setup for 1st Feb

 Today is budget day. Today evening you have the FED outcome. So anything and everything can happen in the next 24 hrs. So there is no point in discussing the market move today. As FM reads the budget, markets will dance accordingly. Better to sit out and watch the dance and clap. 

Finally, the Adani FPO is subscribed and it sailed through. The Indian corporate stood up against the international forces who tried to shake the economy by shorting. Ambanis, Bharti's Mittle, and Jindals invested in the FPO and saved. When I saw the report and Adani's response, I had a slight doubt that there might be something wrong. After seeing big corporates investing, now I am sure that there is nothing wrong with the group. I have already sold 2250pe. I will be adding more PE and will take delivery if things go wrong. I won't be surprised if the recent low will be protected for a long time.

There is an important lesson to be learned from the Adani recent events. The retail participation was only 12%. If there was no Hindenburg report, then probably you could see an oversubscription. Everyone wants to be with the winning horse. So don't be carried by the people around you when you are winning. They will disappear in a flash even if you have a small setback. If you want to do something, then make sure you work hard and follow your goals. Be ready to do things with or without anyone.


  1. There was no algo trade for yesterday and today. 
  2. Today, I will sell 1 ATM straddle in banknifty just for the sake of the kick. It's difficult for me to sit idle and not trade.
  3. The kotak bank trade which I took and did a youtube video is in a decent profit. 
  4. I had sold 2250pe in adani which is in wonderful profit. Today there might be a gap up. I am planning to move that close to the spot.
  1. US markets closed in the green. 
  2. Today all these international cues don't matter. Its event driven.
  3. SGX is up by 100+ points
  1. FII are selling left right and center. Yesterday they sold for 5500cr and DII bought for 4500cr
  1. $ again inching to Rs 82
  2. Crude is at $85