Trade setup for 6th Feb



 There was a fantastic rally on Friday. Nifty shot up close to 300 points and banknifty shot close to 900.

The important one was Adani group stocks. Adani ent fell 35%. It shot from there and went to green and closed in the green. I feel the Adani saga is close to the bottom. Banks have told that they don't have much exposure to Adanis and govt, Sebi are keeping a close eye on this. Exchanges have increased the margin for trading in adani stocks. So I don't think there will more fall or volatility from here. I am bullish in Adani from here. 

Foreign institutions are more exposed to Adanis than the Indian institutions.

The best indicator to go long is Moody's. They came out and downgraded India. On Friday you can see that we shot up 300 points. I have observed these guys for a long long time and whenever they downgrade India or a stock, it rallies higher. So now my confidence to go long has increased.

We are in an era where creating more jobs has become a problem. The US jobs data came out and they added around 5lak jobs where the estimates were 1lak. This has come as a shocker to the US. 

In one of the biggest property deals, RK Damani has bought 1283 cr worth of apartments in and around Mumbai.

SBI numbers have come and the numbers are good. Usually, SBI numbers change the trend of the banknifty. Banknifty was down all these days. From now, the bankifty can be bullish.

PM modi is in Bangalore and you can see a lot of BJP flags in many areas. He is here to open Helicoptor factory.

Pakistan's Musharraf passed away.

MY TRADES

  1. I sold 800PE in adani ent and I am willing to take delivery. I had sold 2250 PE earlier. I converted that to straddle and sold huge quantity of 2250ce. I am now almost at breakeven. I think I need to do a lot of firefighting in this for the entire month.
  2. I have taken bullish trades in nifty and banknifty. 
  3. I have taken the below trade in nifty
    1. +1 X 17900ce
    2. -3 X18300ce
    3. -2 X 18500ce
INTERNATIONAL MARKETS
  1. The US markets closed in the red on Friday. Today the futures are slightly lower.
  2. Today the Asian markets in pressure due to the US jobs data.
  3. SGX is flat.
FII AND DII
  1. FII sold for 900cr on Friday and DII bought for 1200+cr
CRUDE AND $
  1. Crude is close to $80
  2. $ is at Rs 82.4



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