Trade setup for 19th April



 After 9 days in green, nifty now closed in the red for 2 consecutive days. The contributors were the IT and the banks yesterday. The butchering of IT continues. But yesterday banknifty was in the green then there was a rumour by Bloomberg that government is planning to hike LTCG tax. This triggered the fall and banknifty went to the red. Then in the last hour there was some recovery. After markets, govt clarified that they are not planning to hike. If markets fell for that news then the recovery should happen soon.

We have election in 1 year. Govt is not foolish to do something like this. After election they might. 

Now in banknifty 42500 is the resistance. It has to take out that for further up rally.

In the US, goldman sacks and netflix numbers were not good. Today you have tesla and morgan stanley coming out with numbers.

In India, we have hcl tech coming tomorrow and then icici and then RIL.

Now nifty is in the range of 17550-850. I think this range will be taken out in the last week of the expiry. 

Banknifty movement will be decided by icici numbers. ICICI is at 900 and went to 925 before it fell. If this high is taken out after the numbers, then it can goto 950 by this month. I will go long only if this is taken out after the numbers. This can take banknifty also higher.

Windfall tax is hiked.

Yesterday Infosys was flat, but ADR fell almost 1.5%.

TCS and infy did not provide the uprally in IT. Lets see if HCL tech can change this. Many times it has done this. 

Apple launched its first apple store in India. They are allowing customers to open a savings acc for an interest of 4%.

MY TRADES

  1. The algo worked well as it captured the downfall in banknifty. It gained almost 1% and for the month it has gained more than 6%.
  2. Most of my trades are bullish and from 2 days markets are falling. But I have been bullish from beginning of the month. So, I am already in profit. But seeing profit go down when it falls is slightly difficult.
  3. Yesterday I closed some of the trades and booked profit as the LTCG news panicked me.
  4. If markets go beyond 17700 then I will initiate new long trades as I am expecting 18k in this month. I will do the below trades
    1. +1 X 17700pe
    2. -3 X 17500pe
    3. -3 X 17400pe 
INTERNATIONAL MARKETS
  1. US markets were flat.
  2. Europe closed in the green.
  3. Today the Asian markets are in the flat to negative. Its consolidating.
  4. SGX is flat
FII AND DII
  1. In last 2 days FII have been selling.
  2. Yesterday they sold for 800+cr and DII bought for 400+cr
CRUDE AND $
  1. Crude at $84
  2. $ at Rs 82



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