Trade setup for 9th Jan


 Have the markets made a bottom?? Looks like it has. Let's see if nifty goes beyond 18000. I will go long if 18100 is taken out with a follow. The charts suggest that if the recent low of 18600 was broken, the fall would be brutal. I thought that markets would take some support there. But it looks like markets are taking support at 17800 itself.

On the short term, nifty seems to have made a double bottom. This indicates that the nifty may rally upside from here. But on the long term there seems to be reverse cup and handle. This shows that there is more pain. If nifty crosses 18100,200,300 then this reverse cup and handle may fail








This is the time for selling PE aggressively. If 18k and 18100 are taken out for this month, nifty may not see below 18k.

Today we will begin the earning season with TCS. TCS has fallen a lot on Friday. I am not able to guess the direction of this for today. I don't have any trades in this as well. If there is a huge rally upside or downside after the results, then I will try to take a trade in this.

Today the Asian markets are in the green with the hope of inflation easing and China reopening.

Goldman sacks cutting jobs by 3000+. Now the stocks of companies that are cutting more jobs are rallying. 

Now you can expect some bounce in the crude. You can expect crude to go beyond $80

Many reports suggest that the inflation has peaked and there is chance of it falling from here which the street is celebrating.

I did a video on HDFC trade which I will be taking today. I am planning to do a live youtube video on this. This weekend I did a vide on the analysis on of this trade

You can check that vide below

English: https://youtu.be/bBE9erevJ_4

Hindi : https://youtu.be/MpeKRIQ0_JI

MY TRADES

  1. My algo trade closed in the green on Friday. But for the month, it is still in the red.
  2. I had sold huge quantities on the PE side. Today I will be converting them to strangle to get that extra premium.
  3. I will be doing a youtube live at 10PM.
INTERNATIONAL MARKETS
  1. US rallied 700 points. Nasdaq rallied 300 points. The US futures are in the green. We need to see if there is a follow-through in the US markets today.
  2. Europe closed in the green on Friday.
  3. Today the Asian markets are in the green. SGX is up by 130 points.
FII AND DII
  1. On Friday, FII sold for 2000+cr and DII bought for 1000+cr
CRUDE AND $
  1. Crude is around $80. 
  2. $ is at Rs 82.75



Comments

Post a Comment