Trade setup for 25th Jan



 It looks like today 18k will be challenged. As I told you, today is the monthly expiry and you can expect some volatility. The thing I am seeing is whether we will close below 18k today and if will there be a follow-through tomorrow then maybe I will change my view from bullish to bearish. For now, I am bullish and I will be using this dip to go long.

Even the US markets are now consolidating after a good run. So you can expect the same here as well.

Large tech companies are coming out with numbers in the US and that will decide the further movement in the US. Nasdaq has been beaten down in the last quarter. So, I feel most of the bad news from the tech is in the price. So even a small good news by them will result in short covering in them. Most of the techs in the US are showing signs of bottoming. 

Yesterday, there was a lot of companies which came out with numbers. Maruti numbers were good and the street cheered it. 

Today you have bajaj auto, ceat, cipla come out with numbers. Most of the major company earnings are done. So you can now conclude that this earning season was a muted one.

Australian inflation has hit a peak from 1990. Pak crisis worsens. Its rupee is at 200 against USD. The inflation saga is not over yet, but I strongly feel that this will not be the reason for the markets to go down. Most of it is factored in the markets.

MY TRADES

  1. Yesterday my algo worked well. It gave a profit of more than 2%. For the month its almost close to 18%
  2. I have sold huge quantities of 18k PE. Looks like that will be in trouble today. I will put a strict SL and come out if things go wrong as I don't have margin for doing any adjustment.
  3. If 18k is taken out then one can sell 17900 and below PE. I will be moving 18k PE to 17900. 
  4. I have a strong feeling that closing will be above 18k today.
  5. Banknifty may not fall below 42500. So If there is any recovery I will sell some 42500PE
INTERNATIONAL MARKETS
  1. US markets were flat.
  2. Europe also closed flat.
  3. Today the Asian markets are also flat. SGX is showing a downtick of 40 points.
  4. Chinese markets are closed for their new year.
CRUDE AND $
  1. Crude at $86
  2. $ at Rs 81.5
FII AND DII
  1. FII solf for 760cr and DII bought for 1144cr
  2. For this month FII sold for 20kcr and DII bought for 17kcr


Comments

Post a Comment