Trade setup for 11th April

 Nifty has now rallied for 6 consecutive days. And in the last 6 days, it has rallied almost 700 points. Yesterday it was tata motors that single-handedly took the markets higher. It shot up nearly 5%. It shot up because of strong JLR sales. 

Adani has given an explanation for which Rahul gandhi was blaming them. So it looks like today there will be another rally in the group stocks. 

Now we will be starting the results season. Tomorrow TCS will come out with numbers. There were some top level exits in the company. So, we need to see the impact of that.

This month's starting was a good time to enter the stock. Now its confusing if the rally will continue or not because the entire IT sector had a rally. Now you have to wait for a dip to enter. If there is a dip close to 3100 then one can think of buying. I do have long positions which I had taken at the beginning of the month and now it's all in the safe zone. I did tell about this in my previous blogs as well. 

For nifty, the next resistance is 18k. If that is taken out then we can see higher levels. Today will be the 7th day for nifty rally, so be little cautious. Wait for the dip to enter. Definitely not a shorting market. Wait for opportunities to enter. One can wait for nifty to come close to 17400-500 range to enter. 

Now it depends on the results of the companies which will propel the movement of the stock. I wouldn't enter the market now if I had not entered by now. Its a clear wait a watch. You may even miss another rally, but that's fine.

For the week, 17800-850 may be the resistance. 

In the US we have the CPI data this week. So markets could be silent for sometime as they will be waiting for this data.

COVID is back. The cases are rising in India. Mumbai has made masks compulsory. Will this take the markets lower? Its not critical now. If this rises to an extent where there is lockdown, then it might impact the markets. 

The banks are not supporting the markets. Lets see if the results season will trigger an upmove in the banks.

Bitcoin crossed $30000 after a long time. So, it looks like the cryptos are back.


  1. For me now, it is just to sit tight. The profits on the screen tempts to book and run. Now, I need to sit tightly and run the profits.
  2. Last month, I had taken trades in this month and those went to a loss of more than 8lak last month. I simply sat without doing any adjustments and now it is in a profit of more than 4lak. Call it experience, gut, luck or whatever.
  3. For this week, I will sell some CE with the limited capital I have.

  1. US markets closed in the flat zone. 
  2. Europe closed in the green.
  3. Todya the Asian markets are in the green. SGX is up by 40 points.
  1. In this year, they have started buying. So it looks like, FII are back to our markets as the conditions in the US eased.
  2. Yesetrday, FII bought for 800+cr and DII bought for 300+cr
  1. Crude around $85
  2. $ close to Rs 82