Trade setup for 21st april



 Now all eyes on icici bank and RIL numbers which come over this weekend. If fresh rally has to begin then this is the trigger point.

I expected nifty to goto 18k by this expiry. But looks like that is not that easy. Now 17850 is a strong support for this expiry. If that is taken out by tuesday then 18k is a possibility. So a simple strategy is 

    +1 X 17850ce

    -5 X 180000ce

    -5 X 17400pe

I will be executing this with huge volumes. I will be closing the trade if nifty breaks the range of 17850-17500 irrespective of it in loss or profit. No adjustment will be done for this trade

In banknifty 42500 is a resistance. If that is taken out then you can expect another rally. I feel that it unlikely but icici numbers may change everything. So I am not taking any major trade in this. RSI is also almost close to 70. It went above 70 and came down little. So I feel, ICICI numbers may not trigger a rally but you never know. Rule number 101: when in doubt, stay away.

Yesterday in US the techs fell. Tesla led the fall as one of its rocket blasted and its quarterly numbers were not inline with expectation. It fell close to 10%

HCL tech came out with numbers and they say that it has beaten the expectation. Lets see if that can revive the IT which has fallen a lot. I love when the entire sector falls. When that happens you can blindly invest in that sector as when there is recovery there will be a wonderful rally. I have sold a lot of pe in tcs, infy. Today i will be selling pe in hcl as well.

Because we have earing of 2 major companies. Today the markets might be sideways. There might be some sharpmoves. So be careful if you are trading. 

MY TRADES

  1. Yesterday the Algo closed in green. Its in green for the month as well.
  2. I will be taking the trade which I told above.
CRUDE AND $
  1. Crude fell 2% yesterday in fear of recession. Now it close to $80
  2. USDINR is ar 82
FII AND DII
  1. The way FII bought in the first 10 days of the month, it looked like they will take nifty to 25000. Now again they have started to sell.
  2. Yesterday they sold for 1169cr and DII bought for only 832cr

Comments

Post a Comment