Trade setup for 13th April



Now nifty is higher for 8 consecutive days. Today is the 9th day. Lets see if we will close in the green. I am expecting it to close in the red, because we are going to a long weekend and people are sitting with wonderful profit and profit booking may come in the second half. 

I have seen nifty close in the green for 10 consecutive days previously. Lets see if that will be broken or not.

I told in the beginning of the month that 18k is a possibility in this month. I did not expect that it would come in the first half. 17800 was a resistance. Yesterday it broke that. Lets see if there is a follow today. If there is a follow then 18k is the next target which may happen in the next week.

Today is expiry and nifty may range between 17700-900.

The premiums are ultra-low. Nondirectional strategies are not easy to implement in these situations as if there is a vix spike will give you loss.

TCS came out with numbers and it has missed the street expectation. Yesterday there was not much impact on the infy ADR. Along with that there are some top management who are leaving TCS. 

The CPI cools. Now inflation is within the RBI expectation. So the feeling at the street is that there may not be much rate hike from here. 

Adani group is in focus as SBI has clarified that they are not defaulting. Its just the matter of time when the group will start rallying. 

Yesterday the US markets gapped up with the inflation cooling and then there was FED minutes where the chairman told that there might be a recession in the second half of the year as the banking crisis may not be over. After that the US markets fell and closed in the red. 

Today in Hongkong, the Alibaba shares fell as softbank is planning to sell a part of its stake.

MY TRADES
  1. I have sold huge quantities of 17900 ce for today. If there is a rally then I will close with a sl.
  2. The positional trades which I took are in good profit for now. I had taken these trades in march beginning and at that time it challenged the lower end and now it is challenging the upper end. 
  3. I have not taken any other trades as most of my margin are blocked.
INTERNATIONAL MARKETS
  1. US markets gapped up and closed in the red. Dow was flat to negative and nasdaq lost almost 0.9%.
  2. Europe closed in the green.
  3. Today the Asian markets are flat. SGX is flat. US futures are also flat.
FII AND DII
  1. FII are on a buying spree. They bought for 1900+cr and DII sold for only 200+cr
CRUDE AND $
  1. Crude below $87.
  2. USDINR is below Rs82

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