Trade setup for 25th April

 Yesterday was a fantastic rally day. After many days, nifty shot up 100 points. But RIL did not rally as expected. They did close in the green. ICICI gained almost 2% and RIL was flat to positive. 

Still the view that nifty has to close above 17850 to go long remains intact. Again, this is not a market to short. Markets may go sideways till it crosses 17850 and then 18000.

Banknifty is the index to go. It closed above the recent high of 42600.If there is follow through today then there can be a new leg that might open 

Banknifty is at 3.5% from its 20dma. When it goes 5% then one can think of shorting this index. Till then its a big no.

Nifty is at 2.5% from its 20dma. So there is still room for nifty to rally. Ususally nifty and banknifty go hand in hand. This time banknifty has taken booster and moved a lot.

FII have sold everything they bought in the first 10 days of this financial year and is now in the red for the month. So this is not a good news for the bulls. 

There are some big tech earning in the US. So tech here will also be in focus here as well. All the tech stocks PE which I had sold are almost 0. I will be closing them today as margins are increasing. 

Mankind pharma IPO opens today. I am planing to apply with 5 application from different accounts. Lets see if I get any allotment. I dont know whether the valuation is good. Some of my friends and analysts told its good. So I am applying. 

The cryptos after showing some bullishness is aggain falling. 

From today you have auto companies coming out with nuumbers. Today you have bajaj, tomo maruti.


  1. The algo is running fine for this month. Fingers crossed. Yesterday it made a profit of almost 1%. For the month it is in a profit of almost 10%. 
  2. I am fully deployed in trading. Most of my trades are in decent profit. So nothing more to do till expiry. 
  3. I had sold 18800ce. I sold it at 44. Today if it becomes ITM then I will close that and sell ATM PE. I am confident that 18800 will go to 0 in next 3 days. Lets see. Its only 4 lots so I am not scared. I may probably keep a SL of 17900.
  4. To hedge the above trade, I will sell usdinr 82 ce for 28th expiry.
  1. The US markets closed flat. Today the futures are in mild red
  2. Europe closed in the flat as well.
  3. Today the Asian markets are also flat. SGX is mildly in the green.
  1. FII sold for 400+cr and DII bought for 1000+cr. Now you know why markets rallied yesterday.
  1. Crude at $82.6
  2. $ below 82