Trade setup for 12th April

 Markets have rallied for 7 consecutive days. It's obvious that the risk-reward on the long side is less from here. Saying this, it is definitely not a market to short. This is a strong market and you wait for an opportunity to enter when there is a dip. Markets may continue to be in the range of 17500-18k for the next 10 days. The more it stays in this range, the more strong will be the rally which come after it breaks 18k.

Yesterday, I wrote the blog but the link I posted was wrong. So, sorry about that.

Nowadays, every day except Monday is an expiry day. If the exchanges add some index expiry on Monday then every day is an expiry day. So there will be volatility every day.

Now the banks are back. Yesterday it was banknifty which led the rally. There was a news that kotakbank weightage in MSCI might increase. So kotakbank was up by more than 5%. I remember, last time when this happened, kotak bank had rallied a lot. So will the same kind of rally continue this time?

 Today you have TCS results. Voices in the market are saying that the result will not be a good one this quarter. So the expectation in the street is low. So any slight good numbers can lead to the rally upside. Yesterday, it fell more than 1%.

IMF has cut the global GDP forecast. 

Today you have CPI print release in the US. Hope this is not a very big event and inflation comes under control.

Bitcoin and other cryptos are rallying. Bitcoin above $30k

This is the channel in which the nifty was moving. Yesteday, you can see that the channel has broken. Lets see if the uprally continues. You can see that 18k is a strong resistance on the upside.



MY TRADES

  1. My algo is giving some consistent profit for the last few days. For the month its sitting with a profit of almost 5%
  2. I have sold 17850,900ce in the weekly series. I got a decent premium yesterday. Today, seeing the SGX, the premiums will fall immediately at the opening. 
  3. I will be closing some of the stock options which I have as they are in wonderful profit and moving them closer to the strike. I had sold pe of a lot of companies.
  4. Its just sit and watch for me for the next few days.
INTERNATIONAL MARKETS
  1. US markets were flat yesterday.
  2. Europe closed in the green
  3. SGX and asian markets are flat
FII AND DII
  1. FII bought for 350cr and DII solf dor 260cr




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