Trade setup for 22nd March



Happy UGADI to all the readers. May this new year bring you health wealth and happiness 

Now all eyes on FED. So there is no point in guessing the direction of the market with this event.

But, the way the options are priced and seeing the price action, it looks like we will be heading up. The chances of we going back below 17k again in this month is very less, but not impossible. 

Tomorrow, if markets rally above 17200 and stays there then for the month one can comfortably sell 17000 and below pe.

Today the FED is expected to hike by 25bps. But its the commentary from the Powell which will decide the market direction. It depends on what he tells about the banking crisis.

Yesterday, the banks which were beaten down, Republic bank, UBS, Credit Suisse were all in the green. So, prima facie it looks like banking saga is almost over. 

I am keenly keeping an eye on USDINR. I feel that gives a real picture. If there was a real real crisis, then it would have easily crossed 83. So that is one of the reason why I am bullish on the stock market.

Yesterday there was an earthquake in Afghanistan and there was some tremors felt in Delhi/NCR region. Luckily there were no casualties. There was just panic and I think people are fine now.

In our markets, yesterday there was a rally backed by the RIL, Bajfnance, banks. RIL and bajfinance may lead the market higher. I told before that 2200 is a fantastic rate for RIL. I had sold 2100 pe but now I am feeling that I should have bought some calls or futures.

The next company is TCS. 3k -3100 is a fantastic buy. I have sold 3100pe. Will take delivery if it goes lower.

Srilanka got money from IMF but not Pakistan. 

MY TRADES

  1. My algo closed in the green yesterday but it is still in red for the month.
  2. The positional trades which I had taken was in deep loss. Now with the recovery in the last 2 days gave a huge breathing space.
  3. Today and tomo if nifty goes above 17200 then its time to sell 17000 pe aggressively in the march monthly series.
  4. Today I will selling 39500pe in banknifty for this week in small volumes.
INTERNATIONAL MARKETS
  1. US closed in the green. Dow gained 300+ and nasdaq ganed more than 1.5%. The problematic banks rallied, tesla rallied.
  2. Europe closed in the green.
  3. Today the Asian markets are in the green. SGX up by 30 points.
FII AND DII
  1. FII sold for 1400+cr and DII bought for 1900+cr. Our DII are supporting the markets thee days. Imagine what will happen to markets when the FII investment returns.
CRUDE AND $
  1. Crude almost at $75
  2. USDINR close to 82.5. If market rally continues then it may come close to 82. 


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