Trade setup for 15th March



 Dow rallied yesterday after falling for 5 consecutive days. As I told, when RSI of dow is close to 30 it means that it is oversold and there can be a bounce.

We are just copycat and we just copy the US markets. Now you can see that the SGX is also up. The game is not over yet. We have the FED meet this month and things can take any direction.

The Frist republic bank which had fallen 60% has recovered almost 30%. It had rallied more than 50%. 

The crypto rally continues. The gold rally continues.

I feel the bottom is formed because moody's has come out and reduced the rating of the US banking system. I am a keen follower of Moody's and whenever they reduce the rating the sector or the company rallies. 

There is some geopolitical issue as well where a Russian jet shot a US drone. It did not get escalated till now. Let's see if this will take any shape.

Yesterday there was a huge fall in nifty than banknifty and midcap. The major sector which fell was IT. IT sector came to panic as there were rumors that IT spending by these banks and financial institution may reduce as they are in trouble. This caused the selling in the IT. But if you see nasdaq, they ralled. So you can expect a similar kind of rally in the IT here as well.

I love when the entire sector falls because when there is recovery you can easily identify and go long with more conviction.

Meta will be firing 10000 employees. There was a rally in meta yesterday when this news came.

Coming to nifty, there was a bounce at 17000. So it looks like there is some support coming at that level. Today there is a gapup. Lets see if that sustains and if there is a follow tomo. If that happens then 17k pe can be sold for the month.

MY TRADES

  1. There was a SL hit in my algo yesterday. Whatever gains it made day before was given back. For the month of March it is in +ve.
  2. I will be executing the below trade and will be taking delivery if it becomes ITM
    1. -1 X 2000pe reliance
    2. -1 X 1360pe infy
    3. -1 X 1700pe adanient
  3. For tomo expiry, I am selling 16900pe heavily. 

INTERNATIONAL MARKETS

  1. The US closed in the green as dow snapped 5 days losing. 
  2. Europe also close in the green
  3. Today asian markets are in the green. SGX is up by 100 points.
CRUDE AND $
  1. Crude is at $78.5
  2. USDINR is close to Rs 82.5
FII and DII
  1. FII sold for 3kcr and DII bought for 2kcr

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