Trade setup for 7th Feb

 In a big move, Adani has paid $1.1 billion to release the pledged shares of Adani group. Has this put a full stop to all the allegations put forth? After seeing the recovery in the Adani group stocks on Friday, it looked like the bottom had formed. I was expecting some upper circuits in this stock in this week. But yesterday, there was not much up move and it looks like the fall also has been arrested. Today you have Adani ports numbers. Adani ports gained 10% yesterday.

Currently, my overall position in Adani ent is at a loss. I will be taking steps to make adjustments in the trade.

Google will be releasing it AI platform as a competition to chatgpt called bard. The future with AI looks interesting and scary.

There was a major earthquake in Turkey and Syria that killed more than 3000 people. A rescue operation is going on.

Dell is firing 5% of its workforce. It fires close to 6500 employees. 

Tata steel came out with numbers and it was weak as Europe was slow.

Nasdaq closed in the red after the jobs data was stronger than expected. Today the Powell will be speaking. Then we have RBI policy this week. So these are the events which we have to watch closely.


  1. I sold huge quantities of 800PE in Adani ent. It looks like the release of pledged shares is positive for the group. Lets see what will happen today.
  2. I have taken bullish trades. I had sold huge quantity in banknifty PE. Today I may convert that to strangles.
  3. The bullish trades which I took in monthly expires is in wonderful profit.
  1. US closed in flat. Nasdaq closed lower as bond yield rises.
  2. Today the Asain markets are +ve. SGX is up by 90 points. 
  1. FII sold for 1200+ cr and DII bought for 1200+cr yesterday
  1. $ is close to 83 again. This is slightly dangerous. Banknifty may again come to pressure if $ crosses 83.