Trade setup for 29th March

 So it looks like we are gong to close the month with a red candle. We have 2 more days  and nifty needs to rally 400 points which may not happen. So this will be 4th consecutive month closing in red. This has not happned from 2001. In 2001, after the 4th month of red, there was a gren candle. So can we expect a green candle in April?? I thnk we can.

Yesterday nifty went above 17k but it could not sustain above that for long. It gave all the gains and closed in the red. But in the last hour there was a mild rally to the close. So the last hour low can be considered as a support for today's expiry. 

The major losers yesterday were the Adani group. Most of them lost more than 5%. 

Banks provided some support yesterday. So it looks lke the worst of the bank is over and 39300 is a support for today's expiry.  I will be selling PE below that for today's expiry. 

As, I told before, 16800 - 17200 is the range. So I will not be going long till 17200 is taken out on a closing basis. 

The big news in the world is that Alibaba will be split into 6 organsation and each one will have a CEO and will be a seperate entity. This has changed the sentiment in the world markets.So we need to see if this triggers the next bull run.

There is no major news around the banking crisis. So, I think we can assume that the banking crisis worst is over. The problem might not be out, but the markets wll now be prepared for the small jers which it gives.


  1. I rolled over many of my trades to April series. I am bullish on the market for April series. I believe that it will be a green candle. So I have sold a lot of PE for Aprl Expiry.
  2. Today I will be selling 39300 and below PE with strict SL.
  1. US was flat. It was in the green at start but then closed n the red. US futures are in the green.
  2. Today the Asian markets are in the green after Alibaba news. 
  1. FII bought for 1500+cr and DII sold for 150cr. 
  1. USDINR at Rs 82.25
  2. Crude at $78